Faucets Market: Introduction
A faucet is a plumbing fitting that controls the flow of liquid, gas, or oil from a pipe or vessel. It is also called a tap and cock. A faucet is made up of a tubular spout, stopped with a movable plug, spigot, valve, or slide. When the handle of a faucet is turned on, the valve opens and regulates the flow of liquid/gas. The flow of the liquid can be adjusted as per the user’s requirement. Faucets come in a variety of colors, ranges, materials, and styles as per consumer needs and demand.
Key Drivers of the Global Faucets Market
- Significant surge in end-use industries is identified as a key driver of the faucets market. Favorable macroeconomic factors and economic recovery across key countries over the last decade have driven significant investment in the construction industry.
- Major investments in the field of infrastructure development and residential construction fuels the demand for advanced and efficient faucets. For instance, faucets with sensors are widely accepted by construction companies for commercial buildings as they help prevent water wastage.
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Faucets Market: Key Segments
- The global faucets market can be segmented based on product type, operation, installation, technology, material, application, end-user industry, distribution channel, and region. Based on product type, the faucets market can be classified into ball, disc, cartridge, and compression. Ball type faucets are highly demanded in both residential and commercial applications as it is commonly used for kitchen sinks. Based on operation, the faucets market can be categorized into pull down faucet, pull up faucet, bar faucet, hands free faucet, and others. Hands free faucets are extensively used in commercial places as it works with the help of sensors and saves water. Based on installation, the market can be segmented into deck mount and wall mount. Based on technology, the market can be categorized into manual and automatic. The market is segmented into stainless steel, chrome, bronze plastic, and others based on material. Stainless steel is expected to have the highest growth during the forecast period. Based on application, the market can be categorized into bathroom, kitchen, and others. Kitchen faucets are expected to have higher growth during the forecast period. In terms of end-use, the market is segmented into residential, commercial, and industrial. Currently, the commercial sector holds the largest market share. However, the residential segment is expected to gain considerable market share during the forecast period due to increase in residential construction. Based on sales channel, the faucets market is segmented into direct sale and indirect sale. Direct sales channels are largely preferred to market and sell different faucets in domestic markets.
Key Players Operating in the Global Market
Manufacturers are undertaking continuous R&D to offer an innovative, posh, and smart product range to consumers. Consumers are willing to spend more on luxurious products. This consumer behavior is driving the market. Key manufacturers are focused on close collaboration with customers to understand their requirements and design industry specific solutions according to established standards and regulations.
Some of the major companies identified in the global faucets market are:
- ROCA
- Hansgrohe
- Grohe
- Villeroy Boch
- Kohler
- Danze, Inc.
- Delta Faucet Company
- Jaquar
- Gerber Plumbing Fixtures LLC
- Moen Incorporated
- Franke Kitchen Systems
- TOTO Ltd.
Global Faucets Market: Research Scope
Global Faucets Market, by Product Type
- Ball
- Disc
- Cartridge
- Compression
Global Faucets Market, by Operation
- Pull Down Faucet
- Pull Up Faucet
- Bar Faucet
- Hands Free Faucet
- Others (Faucet with Side Spray, etc.)
Global Faucets Market, by Installation
- Deck Mount
- Wall Mount
Global Faucets Market, by Technology
- Manual
- Automatic
Global Faucets Market, by Material
- Stainless Steel
- Chrome
- Bronze
- Plastic
- Others (Brass, etc.)
Global Faucets Market, by Application
- Bathroom
- Kitchen
- Others (Garden, etc.)
Global Faucets Market, by End-use
- Residential
- Commercial
- Industrial
Global Faucets Market, by Sales Channel
- Direct Sale
- Indirect Sale
The report on the global faucets market is a compilation of first-hand information, qualitative and quantitative assessment by industry analysts, and inputs from industry experts and industry participants across the value chain. The report provides in-depth analysis of parent market trends, macroeconomic indicators, and governing factors, along with market attractiveness as per segments. The report also maps the qualitative impact of various factors on market segments and regions.
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