The new report by Expert Market Research titled, ‘Global Kitchen Faucets Market Size, Share, Price, Trends, Growth, Analysis, Report and Forecast 2021-2026’, gives in-depth analysis of the Global Kitchen Faucets market, assessing the market based on its segments like Product, Installation Type, Material, Number of Faucet Holes, and major regions. The report tracks the latest trends in the industry and studies their impact on the overall market. It also assesses the market dynamics, covering the key demand and price indicators, along with analyzing the market based on the SWOT and Porter’s Five Forces models.
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The key highlights of the report include:
Market Overview (2016-2026):
• Forecast CAGR (2021-2026): 6.3%
The increasing demand for advanced, comfortable, and environment friendly kitchen faucets is increasing the demand for kitchen faucets. Companies are increasingly focusing on improvements in the plumbing industry and setting new standards in electronic water fixtures. As a consequence, over the next few years, this will give rise to creative and advanced kitchen faucets. The market for hands-free faucets is projected to boost by 2026, among various types of kitchen faucet products including Pull-Out Faucet, Pull-Down Faucet, Bar Faucets, Hands-free Faucet, and Pot Filters. In the coming years, the use of sensor-enabled hands-free faucets is expected to increase as they have the potential to save water and prolong the battery life.
Kitchen Faucets Industry Definition and Major Segments
A Kitchen Faucet is a system that lets you turn on and off the flow of water in Kitchen. The faucet is not just the metal component from which the water falls, it is the entire system for controlling the water flow. It helps to do regular activities that is required in the kitchen.
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On the basis of Product, the industry is divided into:
• Pull-Down Faucet
• Pull-Out Faucet
• Hands-Free
• Bar Faucets
• Pot Filters
• Faucet with side Spray
• Others
On the basis of Installation Type, the industry is divided into:
• Deck Mount
• Wall Mount
On the basis of Material, the industry is divided into:
• Chrome
• Stainless Steel
• Bronze
• Plastic
On the basis of Number of Faucet Holes, the industry is divided into:
• One
• Two
• Three
• Four
On the basis of Region, the industry is divided into:
• North America
• Europe
• Asia Pacific
• Latin America
• Middle East & Africa
Kitchen Faucets Market Trends
The rapid digitization of kitchen faucets has captured many users’ attention. It is anticipated that the launch of touchscreen kitchen faucets would bode well for the market. The additional benefits of hands-free faucets, such as cost-effectiveness and energy savings, contribute to market development. Throughout the forecast years, North America is expected to retain its supremacy in the global kitchen faucets industry. In this area, the rapidly expanding residential sector is the primary factor that makes market growth. The adoption of modern kitchen faucets is growing with the aid of advanced technology, with the goal of enhancing the design and look of kitchens. Furthermore, this is expected to stimulate consumer growth and raise the demand for faucet taps in the coming years. In addition to North America, in the forecast years, Asia Pacific is also expected to report a strong demand for kitchen faucets.
Key Market Players
The major players in the market are Lixil Group Corporation, Hansgrohe Group, Masco Corporation, Fortune Brands, Spectrum Bands, TOTO, Roca Sanitario, S.A., Jaquar Group and others. The report covers the market shares, capacities, plant turnarounds, expansions, investments and mergers and acquisitions, among other latest developments of these market players.
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