Global Kitchen Faucets Market to be Driven by Rising Number Modernised Kitchens in the Forecast Period of 2023-2028
The new report by Expert Market Research titled, ‘Global Kitchen Faucets Market Size, Share, Price, Trends, Growth, Report and Forecast 2023-2028’, gives an in-depth analysis of the global kitchen faucets market, assessing the market based on its segments like type, installation, faucet holes, material type, 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 analysing 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 (2018-2028)
• Forecast CAGR (2023-2028): 6%
Over the past few years, the plumbing firms have been thriving, encouraging growth in the worldwide market for kitchen faucets. The preference for practical kitchens and bathrooms is also expected to increase, along with an esthetic appeal, to fuel the growth of the faucet industry. The growing use of modernised bathrooms and kitchens is expected to fuel demand. Along with improving lifestyles, continually shifting consumer preferences have boosted the spending on luxurious homes and refurbishment, thus contributing to industry demand. Since it is easier to use and less expensive, clients also prefer the bar faucet.
Industry Definition and Major Segments
Faucets are appliances which are used in a plumbing system to control water flow. These faucets are often used in the kitchen, bathroom, and other areas where water is needed at regular intervals. To meet a variety of consumer desires, faucets are available in a wide range of styles, colours, and finishes.
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By type, the market is divided into:
• Pull-Down Faucet
• Pull-Out Faucet
• Bar Faucets
• Pot Filters
• With Sprayer
On the basis of installation, the market is segmented into:
• Deck Mount
• Wall Mount
Based on faucet holes, the market is bifurcated into:
By material type, the market is divided into:
• Stainless Steel
The regional markets for the product include:
• North America
• The Asia Pacific
• Latin America
• The Middle East and Africa
Customers around the world are requesting more elegant, convenient, and environmentally friendly kitchen faucets. In the residential market, automated water fixtures are setting new patterns and setting new standards. Therefore, numerous companies in the plumbing sector are strongly dependent on technological advances. Hand-free faucets also set the requirements for hands-free faucets since they are made using sensor technology. Moreover, hands-free faucets are expected to be adopted by many customers in the predicted timeframe. An important trend observed by traditional manufacturers of kitchen faucets in the market population aiming to develop advance faucets that will attract a full consumer base.
Key Market Players
The major players in the market are Jaquar Group, LIXIL Corporation, Kohler Co, Hansgrohe SE, Delta Faucet Company, Dornbracht GmbH & Co.KG, and Roca Sanitario, S.A., among 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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