The global faucet market size reached US$ 26.9 Billion in 2022. Looking forward, IMARC Group expects the market to reach US$ 42.7 Billion by 2028, exhibiting a growth rate (CAGR) of 7.85% during 2023-2028.
A faucet refers to a plumbing fixture used for regulating the flow of a liquid or gas from a reservoir. It is usually manufactured using brass, steel, die-cast zinc and chrome-plated plastic and consists of a handle, cartridge, spout, mixing chamber, aerator and an inlet source. Some of the most commonly used faucets include pull-down, pull-out, hands-free, bar, pot and side spray faucets. Apart from these, single and dual control cartridge faucets are also used for residential applications. Single control variants consist of a metal or plastic core that operates vertically, and the dual control variants operate through a metal ball with spring-loaded rubber seals fitted into the body. These faucets are available in a wide range of colors, styles and finishing that can be customized according to the user requirements.
Faucet Market Trends:
Rapid urbanization, along with significant growth in the residential sector, is one of the key factors creating a positive outlook for the market. Furthermore, with the changing lifestyles and improving standards of living, there is an increasing demand for luxurious and ergonomically designed faucets that are convenient to use and are also aesthetically appealing. Additionally, various product innovations, such as the development of touch-free, digital and hybrid smart faucets that are equipped with efficiency sensors and temperature gauges, are acting as other growth-inducing factors. In line with this, aggressive promotional activities by the manufacturers and the proliferation of online retail channels that provide users with a wide variety of products to choose from, are also contributing to the market growth. Other factors, including rising expenditure capacities of the consumers, along with increasing product adoption across residential, commercial and hospitality sectors, are anticipated to drive the market further.
Key Market Segmentation:
IMARC Group provides an analysis of the key trends in each sub-segment of the global faucet market report, along with forecasts at the global, regional and country level from 2023-2028. Our report has categorized the market based on type, application, technology, materials, distribution channel and end user.
Breakup by Type:
One Hand Mixer
Two Hand Mixer
Breakup by Application:
Breakup by Technology:
Breakup by Materials:
Breakup by Distribution Channel:
Breakup by End User:
Breakup by Region:
Middle East and Africa
The report has also analysed the competitive landscape of the market with some of the key players being American Standard Brands (Lixil Group), Colston Bath, Delta Faucet Company (Masco Corporation), Franke Holding AG (Artemis Holding AG), Gerber Plumbing Fixtures LLC (Globe Union Group Inc.), Grohe America Inc., Jaquar, Kohler Co., Moen Incorporated (Fortune Brands Home & Security Inc.), Toto Ltd. and Villeroy & Boch Aktiengesellschaft.
Base Year of the Analysis
Type, Application, Technology, Materials, Distribution Channel, End User, Region
Asia Pacific, Europe, North America, Latin America, Middle East and Africa
United States, Canada, Germany, France, United Kingdom, Italy, Spain, Russia, China, Japan, India, South Korea, Australia, Indonesia, Brazil, Mexico
American Standard Brands (Lixil Group), Colston Bath, Delta Faucet Company (Masco Corporation), Franke Holding AG (Artemis Holding AG), Gerber Plumbing Fixtures LLC (Globe Union Group Inc.), Grohe America Inc., Jaquar, Kohler Co., Moen Incorporated (Fortune Brands Home & Security Inc.), Toto Ltd. and Villeroy & Boch Aktiengesellschaft
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Key Questions Answered in This Report
The global faucet market was valued at US$ 26.9 Billion in 2022.
We expect the global faucet market to exhibit a CAGR of 7.85% during 2023-2028.
The emerging trend of modernization in the residential sector, along with the advent of touch-free, digital, and hybrid smart faucets that are equipped with efficiency sensors is primarily driving the global faucet market.
The sudden outbreak of the COVID-19 pandemic had led to the implementation of stringent lockdown regulations across several nations, resulting in the temporary halt in numerous construction activities, thereby negatively impacting the global market for faucet.
Based on the type, the global faucet market has been segregated into one hand mixer, two hand mixer, and others. Among these, one hand mixer holds the largest market share.
Based on the application, the global faucet market can be bifurcated into bathroom, kitchen, and others. Currently, bathroom accounts for the majority of the total market share.
Based on the technology, the global faucet market has been divided into cartridge, compression, ceramic disc, and ball. Among these, cartridge exhibits a clear dominance in the market.
Based on the materials, the global faucet market can be categorized into metal and plastics. Currently, metal accounts for the majority of the global market share.
Based on the distribution channel, the global faucet market has been segregated into online and offline, where offline currently holds the largest market share.
Based on the end user, the global faucet market can be bifurcated into residential, commercial, and industrial. Currently, the residential sector exhibits a clear dominance in the market.
On a regional level, the market has been classified into North America, Asia Pacific, Europe, Latin America, and Middle East and Africa, where Asia Pacific currently dominates the global market.
Some of the major players in the global faucet market include American Standard Brands (Lixil Group), Colston Bath, Delta Faucet Company (Masco Corporation), Franke Holding AG (Artemis Holding AG), Gerber Plumbing Fixtures LLC (Globe Union Group Inc.), Grohe America Inc., Jaquar, Kohler Co., Moen Incorporated (Fortune Brands Home & Security Inc.), Toto Ltd., and Villeroy & Boch Aktiengesellschaft.
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