Faucet Market - Global Size, Share, Trend Analysis, Opportunity and Forecast Report, 2019–2029, Segmented By Product Type (Electronic, Manual); By Material (Metal, Plastics, Others); By Distribution Channel (Online, Offline); By Application (Bathroom, Kitchen, Others); By End User (Residential, Commercial, Industrial); By Technology (Cartridge, Compression, Ceramic Disc, Ball); By Region (North America, Europe, Asia Pacific, Latin America, Middle East and Africa)
Global Faucet Market Size Booming to Cross USD 68 Billion by 2029
Global faucet market is gaining traction because of the increasing disposable income and rising spent on house esthetics along with introduction of cutting-edge technologies in faucets, including touch technology.
BlueWeave Consulting, a leading strategic consulting and market research firm, in its recent study, estimated the global faucet market size at USD 43.86 billion in 2022. During the forecast period between 2023 and 2029, the global faucet market size is projected to grow at a steady CAGR of 6.6% reaching a value of USD 68.06 billion by 2029. The global faucet market is driven by increased consumer disposable income and rising expenditure on house esthetics. It is also projected that the introduction of innovative technologies in faucets, including touch technology, the integration of sensors and IoT and Wi-Fi control, would provide the global faucet market attractive growth prospects throughout the forecast period. However, high penetration of counterfeit products of renowned brands may act as a huge restraining factor for the market growth.
Global Faucet Market – Overview
A faucet is a plumbing system component used to supply water. The spout, handle(s), lift rod, cartridge, aerator, mixing chamber, and water inlets are some examples of its parts. The valve opens when the handle is switched on, adjusting the water flow under any water or temperature condition. The body of the faucet is often made of brass, although it can also be die-cast zinc or plastic that has been chrome-plated. Kitchen sinks frequently include ball faucets, which were the first washerless faucets. They may be identified by their single handle, which slides over a cover with a rounded ball form directly above the faucet spout.
Global Faucet Market – By End User
Based on end user, the global faucet market is segmented into residential, commercial, and industrial. The residential segment holds the highest market share, because of the rising demand for residential space by single families as well as college students and working adults. Increasing remodeling activities for residential homes is also expected to spur a significant demand for faucets during the forecast period. Meanwhile, the commercial segment is also projected to register a high growth rate in the coming years owing to the increasing construction of commercial facilities, including hotels and motels, amusement parks, conference centers, and restaurants.
Impact of COVID-19 on Global Faucet Market
The COVID-19 pandemic hindered the expansion of the global faucet market. Mass layoffs and wage reductions as a result of the countrywide lockdowns led to severe financial issues, particularly for middle-income countries. As a result, the demand for faucets from the residential market fell sharply. The market growth was also significantly influenced by the pausing of infrastructure development expenditures in favor of the development of healthcare facilities. However, it is expected that the market would have profitable development prospects during the forecast period as a result of the rising building of hospitals and other healthcare facilities in the wake of the pandemic.
Competitive Landscape
Major players operating in the global faucet market include Danze, Inc., Fortune Brands Home & Security, Inc., Franke Holding AG, Lixil Group Corporation, Masco Corporation, Paini (UK) Ltd, Roca Sanitario S.A, Sloan valve Company, Spectrum Brands, Inc, Toto Ltd., Gerber Plumbing Fixtures LLC, Jaquar, and Bosch. To further enhance their market share, these companies employ various strategies, including mergers and acquisitions, partnerships, joint ventures, license agreements, and new product launches.
The in-depth analysis of the report provides information about growth potential, upcoming trends, and the Global Faucet Market. It also highlights the factors driving forecasts of total market size. The report promises to provide recent technology trends in the Global Faucet Market and industry insights to help decision-makers make sound strategic decisions. Furthermore, the report also analyzes the growth drivers, challenges, and competitive dynamics of the market.
- 1. Research Framework
- 1.1. Research Objective
- 1.2. Product Overview
- 1.3. Market Segmentation
- 2. Executive Summary
- 3. Global Faucet Market Insights
- 3.1. Industry Value Chain Analysis
- 3.2. DROC Analysis
- 3.2.1. Growth Drivers
- 3.2.1.1. Increase in Number of Household Units Across the Globe
- 3.2.1.2. Demand for Premium Faucets Owing to Increase in Investment in Luxury Homes
- 3.2.1.3. Rise in Urbanization
- 3.2.2. Restraints
- 3.2.2.1. Availability of Counterfeit Brands
- 3.2.2.2. Ready Availability of Substandard Faucets
- 3.2.3. Opportunities
- 3.2.3.1. Development of Smart Faucets by Manufacturers
- 3.2.3.2. Increase in Demand for Smart/Electronic Faucets
- 3.2.4. Challenges
- 3.2.4.1. Growing Dominance of Local Manufacturers
- 3.2.4.2. Increasing Raw Material Price and Manufacturing Cost
- 3.3. Technology Advancements/Recent Developments
- 3.4. Regulatory Framework
- 3.5. Porter’s Five Forces Analysis
- 3.5.1. Bargaining Power of Suppliers
- 3.5.2. Bargaining Power of Buyers
- 3.5.3. Threat of New Entrants
- 3.5.4. Threat of Substitutes
- 3.5.5. Intensity of Rivalry
- 4. Global Faucet Market Overview
- 4.1. Market Size & Forecast by Value, 2019−2029
- 4.1.1. By Value (USD Billion)
- 4.2. Market Share & Forecast
- 4.2.1. By Product Type
- 4.2.1.1. Electronic
- 4.2.1.2. Manual
- 4.2.2. By Material
- 4.2.2.1. Metal
- 4.2.2.2. Plastics
- 4.2.2.3. Others
- 4.2.3. By Distribution Channel
- 4.2.3.1. Online
- 4.2.3.2. Offline
- 4.2.4. By Application
- 4.2.4.1. Bathroom
- 4.2.4.2. Kitchen
- 4.2.4.3. Others
- 4.2.5. By End User
- 4.2.5.1. Residential
- 4.2.5.2. Commercial
- 4.2.5.3. Industrial
- 4.2.6. By Technology
- 4.2.6.1. Cartridge
- 4.2.6.2. Compression
- 4.2.6.3. Ceramic Disc
- 4.2.6.4. Ball
- 4.2.7. By Region
- 4.2.7.1. North America
- 4.2.7.2. Europe
- 4.2.7.3. Asia Pacific
- 4.2.7.4. Latin America
- 4.2.7.5. Middle East and Africa
- 5. North America Faucet Market
- 5.1. Market Size & Forecast by Value, 2019−2029
- 5.1.1. By Value (USD Billion)
- 5.2. Market Share & Forecast
- 5.2.1. By Product Type
- 5.2.2. By Material
- 5.2.3. By Distribution Channel
- 5.2.4. By Application
- 5.2.5. By End User
- 5.2.6. By Technology
- 5.2.7. By Country
- 5.2.7.1. US
- 5.2.7.1.1. By Product Type
- 5.2.7.1.2. By Material
- 5.2.7.1.3. By Distribution Channel
- 5.2.7.1.4. By Application
- 5.2.7.1.5. By End User
- 5.2.7.1.6. By Technology
- 5.2.7.2. Canada
- 5.2.7.2.1. By Product Type
- 5.2.7.2.2. By Material
- 5.2.7.2.3. By Distribution Channel
- 5.2.7.2.4. By Application
- 5.2.7.2.5. By End User
- 5.2.7.2.6. By Technology
- 6. Europe Faucet Market
- 6.1. Market Size & Forecast by Value, 2019−2029
- 6.1.1. By Value (USD Billion)
- 6.2. Market Share & Forecast
- 6.2.1. By Product Type
- 6.2.2. By Material
- 6.2.3. By Distribution Channel
- 6.2.4. By Application
- 6.2.5. By End User
- 6.2.6. By Technology
- 6.2.7. By Country
- 6.2.7.1. Germany
- 6.2.7.1.1. By Product Type
- 6.2.7.1.2. By Material
- 6.2.7.1.3. By Distribution Channel
- 6.2.7.1.4. By Application
- 6.2.7.1.5. By End User
- 6.2.7.1.6. By Technology
- 6.2.7.2. UK
- 6.2.7.2.1. By Product Type
- 6.2.7.2.2. By Material
- 6.2.7.2.3. By Distribution Channel
- 6.2.7.2.4. By Application
- 6.2.7.2.5. By End User
- 6.2.7.2.6. By Technology
- 6.2.7.3. Italy
- 6.2.7.3.1. By Product Type
- 6.2.7.3.2. By Material
- 6.2.7.3.3. By Distribution Channel
- 6.2.7.3.4. By Application
- 6.2.7.3.5. By End User
- 6.2.7.3.6. By Technology
- 6.2.7.4. France
- 6.2.7.4.1. By Product Type
- 6.2.7.4.2. By Material
- 6.2.7.4.3. By Distribution Channel
- 6.2.7.4.4. By Application
- 6.2.7.4.5. By End User
- 6.2.7.4.6. By Technology
- 6.2.7.5. Spain
- 6.2.7.5.1. By Product Type
- 6.2.7.5.2. By Material
- 6.2.7.5.3. By Distribution Channel
- 6.2.7.5.4. By Application
- 6.2.7.5.5. By End User
- 6.2.7.5.6. By Technology
- 6.2.7.6. The Netherlands
- 6.2.7.6.1. By Product Type
- 6.2.7.6.2. By Material
- 6.2.7.6.3. By Distribution Channel
- 6.2.7.6.4. By Application
- 6.2.7.6.5. By End User
- 6.2.7.6.6. By Technology
- 6.2.7.7. Belgium
- 6.2.7.7.1. By Product Type
- 6.2.7.7.2. By Material
- 6.2.7.7.3. By Distribution Channel
- 6.2.7.7.4. By Application
- 6.2.7.7.5. By End User
- 6.2.7.7.6. By Technology
- 6.2.7.8. NORDIC Countries
- 6.2.7.8.1. By Product Type
- 6.2.7.8.2. By Material
- 6.2.7.8.3. By Distribution Channel
- 6.2.7.8.4. By Application
- 6.2.7.8.5. By End User
- 6.2.7.8.6. By Technology
- 6.2.7.9. Rest of Europe
- 6.2.7.9.1. By Product Type
- 6.2.7.9.2. By Material
- 6.2.7.9.3. By Distribution Channel
- 6.2.7.9.4. By Application
- 6.2.7.9.5. By End User
- 6.2.7.9.6. By Technology
- 7. Asia Pacific Faucet Market
- 7.1. Market Size & Forecast by Value, 2019−2029
- 7.1.1. By Value (USD Billion)
- 7.2. Market Share & Forecast
- 7.2.1. By Product Type
- 7.2.2. By Material
- 7.2.3. By Distribution Channel
- 7.2.4. By Application
- 7.2.5. By End User
- 7.2.6. By Technology
- 7.2.7. By Country
- 7.2.7.1. China
- 7.2.7.1.1. By Product Type
- 7.2.7.1.2. By Material
- 7.2.7.1.3. By Distribution Channel
- 7.2.7.1.4. By Application
- 7.2.7.1.5. By End User
- 7.2.7.1.6. By Technology
- 7.2.7.2. India
- 7.2.7.2.1. By Product Type
- 7.2.7.2.2. By Material
- 7.2.7.2.3. By Distribution Channel
- 7.2.7.2.4. By Application
- 7.2.7.2.5. By End User
- 7.2.7.2.6. By Technology
- 7.2.7.3. Japan
- 7.2.7.3.1. By Product Type
- 7.2.7.3.2. By Material
- 7.2.7.3.3. By Distribution Channel
- 7.2.7.3.4. By Application
- 7.2.7.3.5. By End User
- 7.2.7.3.6. By Technology
- 7.2.7.4. South Korea
- 7.2.7.4.1. By Product Type
- 7.2.7.4.2. By Material
- 7.2.7.4.3. By Distribution Channel
- 7.2.7.4.4. By Application
- 7.2.7.4.5. By End User
- 7.2.7.4.6. By Technology
- 7.2.7.5. Australia & New Zealand
- 7.2.7.5.1. By Product Type
- 7.2.7.5.2. By Material
- 7.2.7.5.3. By Distribution Channel
- 7.2.7.5.4. By Application
- 7.2.7.5.5. By End User
- 7.2.7.5.6. By Technology
- 7.2.7.6. Indonesia
- 7.2.7.6.1. By Product Type
- 7.2.7.6.2. By Material
- 7.2.7.6.3. By Distribution Channel
- 7.2.7.6.4. By Application
- 7.2.7.6.5. By End User
- 7.2.7.6.6. By Technology
- 7.2.7.7. Malaysia
- 7.2.7.7.1. By Product Type
- 7.2.7.7.2. By Material
- 7.2.7.7.3. By Distribution Channel
- 7.2.7.7.4. By Application
- 7.2.7.7.5. By End User
- 7.2.7.7.6. By Technology
- 7.2.7.8. Singapore
- 7.2.7.8.1. By Product Type
- 7.2.7.8.2. By Material
- 7.2.7.8.3. By Distribution Channel
- 7.2.7.8.4. By Application
- 7.2.7.8.5. By End User
- 7.2.7.8.6. By Technology
- 7.2.7.9. Philippines
- 7.2.7.9.1. By Product Type
- 7.2.7.9.2. By Material
- 7.2.7.9.3. By Distribution Channel
- 7.2.7.9.4. By Application
- 7.2.7.9.5. By End User
- 7.2.7.9.6. By Technology
- 7.2.7.10. Vietnam
- 7.2.7.10.1. By Product Type
- 7.2.7.10.2. By Material
- 7.2.7.10.3. By Distribution Channel
- 7.2.7.10.4. By Application
- 7.2.7.10.5. By End User
- 7.2.7.10.6. By Technology
- 7.2.7.11. Rest of APAC
- 7.2.7.11.1. By Product Type
- 7.2.7.11.2. By Material
- 7.2.7.11.3. By Distribution Channel
- 7.2.7.11.4. By Application
- 7.2.7.11.5. By End User
- 7.2.7.11.6. By Technology
- 8. Latin America Faucet Market
- 8.1. Market Size & Forecast by Value, 2019−2029
- 8.1.1. By Value (USD Billion)
- 8.2. Market Share & Forecast
- 8.2.1. By Product Type
- 8.2.2. By Material
- 8.2.3. By Distribution Channel
- 8.2.4. By Application
- 8.2.5. By End User
- 8.2.6. By Technology
- 8.2.7. By Country
- 8.2.7.1. Brazil
- 8.2.7.1.1. By Product Type
- 8.2.7.1.2. By Material
- 8.2.7.1.3. By Distribution Channel
- 8.2.7.1.4. By Application
- 8.2.7.1.5. By End User
- 8.2.7.1.6. By Technology
- 8.2.7.2. Mexico
- 8.2.7.2.1. By Product Type
- 8.2.7.2.2. By Material
- 8.2.7.2.3. By Distribution Channel
- 8.2.7.2.4. By Application
- 8.2.7.2.5. By End User
- 8.2.7.2.6. By Technology
- 8.2.7.3. Argentina
- 8.2.7.3.1. By Product Type
- 8.2.7.3.2. By Material
- 8.2.7.3.3. By Distribution Channel
- 8.2.7.3.4. By Application
- 8.2.7.3.5. By End User
- 8.2.7.3.6. By Technology
- 8.2.7.4. Peru
- 8.2.7.4.1. By Product Type
- 8.2.7.4.2. By Material
- 8.2.7.4.3. By Distribution Channel
- 8.2.7.4.4. By Application
- 8.2.7.4.5. By End User
- 8.2.7.4.6. By Technology
- 8.2.7.5. Colombia
- 8.2.7.5.1. By Product Type
- 8.2.7.5.2. By Material
- 8.2.7.5.3. By Distribution Channel
- 8.2.7.5.4. By Application
- 8.2.7.5.5. By End User
- 8.2.7.5.6. By Technology
- 8.2.7.6. Rest of LATAM
- 8.2.7.6.1. By Product Type
- 8.2.7.6.2. By Material
- 8.2.7.6.3. By Distribution Channel
- 8.2.7.6.4. By Application
- 8.2.7.6.5. By End User
- 8.2.7.6.6. By Technology
- 9. Middle East & Africa Faucet Market
- 9.1. Market Size & Forecast by Value, 2019−2029
- 9.1.1. By Value (USD Billion)
- 9.2. Market Share & Forecast
- 9.2.1. By Product Type
- 9.2.2. By Material
- 9.2.3. By Distribution Channel
- 9.2.4. By Application
- 9.2.5. By End User
- 9.2.6. By Technology
- 9.2.7. By Country
- 9.2.7.1. Saudi Arabia
- 9.2.7.1.1. By Product Type
- 9.2.7.1.2. By Material
- 9.2.7.1.3. By Distribution Channel
- 9.2.7.1.4. By Application
- 9.2.7.1.5. By End User
- 9.2.7.1.6. By Technology
- 9.2.7.2. UAE
- 9.2.7.2.1. By Product Type
- 9.2.7.2.2. By Material
- 9.2.7.2.3. By Distribution Channel
- 9.2.7.2.4. By Application
- 9.2.7.2.5. By End User
- 9.2.7.2.6. By Technology
- 9.2.7.3. Qatar
- 9.2.7.3.1. By Product Type
- 9.2.7.3.2. By Material
- 9.2.7.3.3. By Distribution Channel
- 9.2.7.3.4. By Application
- 9.2.7.3.5. By End User
- 9.2.7.3.6. By Technology
- 9.2.7.4. Kuwait
- 9.2.7.4.1. By Product Type
- 9.2.7.4.2. By Material
- 9.2.7.4.3. By Distribution Channel
- 9.2.7.4.4. By Application
- 9.2.7.4.5. By End User
- 9.2.7.4.6. By Technology
- 9.2.7.5. Iran
- 9.2.7.5.1. By Product Type
- 9.2.7.5.2. By Material
- 9.2.7.5.3. By Distribution Channel
- 9.2.7.5.4. By Application
- 9.2.7.5.5. By End User
- 9.2.7.5.6. By Technology
- 9.2.7.6. South Africa
- 9.2.7.6.1. By Product Type
- 9.2.7.6.2. By Material
- 9.2.7.6.3. By Distribution Channel
- 9.2.7.6.4. By Application
- 9.2.7.6.5. By End User
- 9.2.7.6.6. By Technology
- 9.2.7.7. Nigeria
- 9.2.7.7.1. By Product Type
- 9.2.7.7.2. By Material
- 9.2.7.7.3. By Distribution Channel
- 9.2.7.7.4. By Application
- 9.2.7.7.5. By End User
- 9.2.7.7.6. By Technology
- 9.2.7.8. Kenya
- 9.2.7.8.1. By Product Type
- 9.2.7.8.2. By Material
- 9.2.7.8.3. By Distribution Channel
- 9.2.7.8.4. By Application
- 9.2.7.8.5. By End User
- 9.2.7.8.6. By Technology
- 9.2.7.9. Egypt
- 9.2.7.9.1. By Product Type
- 9.2.7.9.2. By Material
- 9.2.7.9.3. By Distribution Channel
- 9.2.7.9.4. By Application
- 9.2.7.9.5. By End User
- 9.2.7.9.6. By Technology
- 9.2.7.10. Morocco
- 9.2.7.10.1. By Product Type
- 9.2.7.10.2. By Material
- 9.2.7.10.3. By Distribution Channel
- 9.2.7.10.4. By Application
- 9.2.7.10.5. By End User
- 9.2.7.10.6. By Technology
- 9.2.7.11. Algeria
- 9.2.7.11.1. By Product Type
- 9.2.7.11.2. By Material
- 9.2.7.11.3. By Distribution Channel
- 9.2.7.11.4. By Application
- 9.2.7.11.5. By End User
- 9.2.7.11.6. By Technology
- 9.2.7.12. Rest of MEA
- 9.2.7.12.1. By Product Type
- 9.2.7.12.2. By Material
- 9.2.7.12.3. By Distribution Channel
- 9.2.7.12.4. By Application
- 9.2.7.12.5. By End User
- 9.2.7.12.6. By Technology
- 10. Competitive Landscape
- 10.1. List of Key Players and Their Offerings
- 10.2. Global Faucet Company Market Share Analysis, 2022
- 10.3. Competitive Benchmarking, By Operating Parameters
- 10.4. Key Strategic Developments (Mergers, Acquisitions, Partnerships, and others)
- 11. Impact of Covid-19 on Global Faucet Market
- 12. Company Profile (Company Overview, Financial Matrix, Competitive Landscape, Key Personnel, Key Competitors, Contact Address, Strategic Outlook, and SWOT analysis)
- 12.1. Danze, Inc.
- 12.2. Fortune Brands Home & Security, Inc.
- 12.3. Franke Holding AG
- 12.4. Lixil Group Corporation
- 12.5. Masco Corporation
- 12.6. Paini (UK) Ltd
- 12.7. Roca Sanitario S.A
- 12.8. Sloan valve Company
- 12.9. Spectrum Brands, Inc
- 12.10. Toto Ltd.
- 12.11. Gerber Plumbing Fixtures LLC
- 12.12. Jaquar
- 12.13. Bosch
- 12.14. Other prominent players
- 13. Key Strategic Recommendations
- 14. Research Methodology
- 14.1. Qualitative Research
- 14.1.1. Primary & Secondary Research
- 14.2. Quantitative Research
- 14.3. Market Breakdown & Data Triangulation
- 14.3.1. Secondary Research
- 14.3.2. Primary Research
- 14.4. Breakdown of Primary Research Respondents, By Region
- 14.5. Assumptions & Limitations
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