DUBLIN--(BUSINESS WIRE )--The "Faucet Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2022-2027" report has been added to ResearchAndMarkets.com's offering.
The global faucet market reached a value of US$ 24.9 Billion in 2021. Looking forward, the publisher expects the market to reach US$ 39.8 Billion by 2027, exhibiting a CAGR of 7.99% during 2022-2027.
Keeping in mind the uncertainties of COVID-19, they are continuously tracking and evaluating the direct as well as the indirect influence of the pandemic on different end use sectors. These insights are included in the report as a major market contributor
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
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 Question Answered in this Report
1. What is the size of the global faucet market?
2. What has been the impact of COVID-19 on the global faucet market?
3. What are the key factors driving the global faucet market?
4. What is the breakup of the global faucet market based on the distribution channel?
5. What is the breakup of the global faucet market based on the type?
6. What is the breakup of the global faucet market based on the application?
7. What is the breakup of the global faucet market based on the end-user?
8. What are the key regions in the global faucet market?
9. Who are the key players/companies in the global faucet market?
10 Market Breakup by Distribution Channel
11 Market Breakup by End User
For more information about this report visit https://www.researchandmarkets.com/r/1nma9j
ResearchAndMarkets.com Laura Wood, Senior Press Manager press@researchandmarkets.com For E.S.T Office Hours Call 1-917-300-0470 For U.S./CAN Toll Free Call 1-800-526-8630 For GMT Office Hours Call +353-1-416-8900
ResearchAndMarkets.com Laura Wood, Senior Press Manager press@researchandmarkets.com For E.S.T Office Hours Call 1-917-300-0470 For U.S./CAN Toll Free Call 1-800-526-8630 For GMT Office Hours Call +353-1-416-8900