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Faucet Market Size, Share & Trends Analysis Report By End User, Application, Distribution Channel, Region, And Growth Forecasts, 2030

The global faucet market is expected to reach USD 36.7 billion by 2030 and expand at a CAGR of 7.4% from 2022 to 2030, according to a new report by Grand View Research, Inc. The faucet market is gaining high popularity due to growth in the real estate industry eventually increasing the construction of residential and commercial buildings that require faucet installations.

Faucet Market Report Highlights

·         In terms of revenue, the commercial segment has dominated the global market by accounting for the largest revenue share in 2021. This is attributed for top-notch restroom related facilities in malls and shopping complexes. Faucets enabled with touch technology are highly popular in commercial places which help in water conservation as well as in enhancing the aesthetics. Therefore, expansion of commercial sector is anticipated to drive the market in the near future

·         The kitchen segment is estimated to be the fastest-growing segment during the forecast period, accounting for around 8% CAGR. The growing adoption of pull-out and pull-down faucets due to water efficient technologies are driving the demand for kitchen faucets among millennials. Asia Pacific is anticipated to experience a high pull-out and pull-down kitchen faucet market due to increasing population

·         The introduction of sensor-based faucet is anticipated to fuel the growth of global market during the forecast period. This faucet ensures superior hygiene standards and water conservation. For instance, Daniel Rubinetterie, a Europe based creative faucet manufacturer has launched a range of sensor technology solutions dedicated to public environments

Gain deeper insights on the market and receive your free copy with TOC now @: Faucet Market Report

Due to urbanization, rapidly rising costs of houses and mortgage rates are influencing people to invest more in home remodeling projects. This has led to an increase in trendy and smart bathroom accessories and further enhanced the market growth. According to the American Housing Survey studied by Harvard’s Joint Center for Housing Studies, the home improvement industry was estimated at USD 385 million in 2018.

The e-commerce distribution channel is witnessing momentum as the market players are focusing on the marketing of their products through different digital media platforms. The most commonly used digital mediums are social media accounts or pages and brand websites. Some of the major e-commerce sellers of faucets for kitchens, bathrooms, and other applications are Wayfair LLC, Hausera, Faucet Depot, and Amazon.

The prominent market players are offering pull-out and pull-down kitchen faucet technologies to gain substantial market share. These faucets in the market offer hand wave technologies, clap technology, Wi-Fi technology, etc. for the convenience of the consumers and efficient water conservation technologies. The pull-out and pull-down kitchen faucets operate at restricted flow rates in an effort to save water as per government regulations.

For Any Questions or Inquire please visit @: https://www.grandviewresearch.com/industry-analysis/faucet-market/request/rs5

Faucet Market Segmentation

Grand View Research has segmented the global faucet market on the basis of type, product, end user, distribution channel, and region:

·         Faucet Market End-user Outlook (Revenue, USD Million, 2017 - 2030)

·         Faucet Market Product Outlook (Revenue, USD Million, 2017 - 2030)

·         Faucet Market Distribution Channel Outlook (Revenue, USD Million, 2017 - 2030)

·         Faucet Market Regional Outlook (Revenue, USD Million, 2017 - 2030)

·         List of Key Players in the Faucet Market

Research Methodology

We employ a comprehensive and iterative research methodology focused on minimizing deviance in order to provide the most accurate estimates and forecasts possible. We utilize a combination of bottom-up and top-down approaches for segmenting and estimating quantitative aspects of the market. Data is continuously filtered to ensure that only validated and authenticated sources are considered. In addition, data is also mined from a host of reports in our repository, as well as a number of reputed paid databases. Our market estimates and forecasts are derived through simulation models. A unique model is created and customized for each study. Gathered information for market dynamics, technology landscape, application development, and pricing trends are fed into the model and analyzed simultaneously.

For Customized reports or Special Pricing please visit @: https://www.grandviewresearch.com/special-pricing/6202/rfsp2

About Grand View Research

Grand View Research provides syndicated as well as customized research reports and consulting services on 46 industries across 25 major countries worldwide. This U.S. based market research and consulting company is registered in California and headquartered in San Francisco. Comprising over 425 analysts and consultants, the company adds 1200+ market research reports to its extensive database each year. Supported by an interactive market intelligence platform, the team at Grand View Research guides Fortune 500 companies and prominent academic institutes in comprehending the global and regional business environment and carefully identifying future opportunities.

 

Contact:

Grand View Research, Inc.

Phone: 1-415-349-0058

Toll-Free: 1-888-202-9519

Email: sales@grandviewresearch.com

Web: https://www.grandviewresearch.com



on December 1 at 10:18

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