PUNE, India, June 25, 2019 / PRNewswire / – The plumbing business has flourished in recent years, fueling growth in the global kitchen faucet market. This information was published in a report entitled “Kitchen Faucets Market Size, Share and Global Trend by Product (Pull-Out Faucet, Pull-Out Faucet, Speakerphone, Bar Faucets, Pot Filter, Side-Spray Faucet), by Installation Type (Deck Mount, Wall Mount), by Material ( Chrome, stainless steel, bronze, plastic), by number of faucet holes (one, two, three, four) and by geographic forecast by 2025. “Several traditional kitchen faucet manufacturers are planning to develop advanced faucets to meet their customer needs. This will continue to attract new customers with the increasing global demand for modern kitchens.
Kitchen Faucets Market Size, Share, and Global Industry Trend Forecast to 2025
The rapid expansion of the residential sector strengthens the market in North America
North America is expected to maintain its dominance in the global kitchen faucet market over the forecast years. The market in the region paid off in 2017 US $ 2011.6 Mn. The fast growing residential sector in this region is the most important factor in the growth of the market. With the help of advanced technology, the introduction of new kitchen faucets is increasing to improve the design and appearance of kitchens. This should continue to fuel the growth of the market and increase the demand for faucets in the years to come.
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Apart from North America, Asia Pacific It is also expected that there will be strong demand for kitchen faucets over the forecast years. In addition, the region was rated US $ 1,440.5 million in 2017. Changes in the standard of living and rising per capita income are leading to a shift in the buying pattern of customers, which is likely to create attractive growth opportunities in the market. In addition, urbanization is growing in countries like Japan, India, China, and Singapore likely to stimulate market growth through 2025. The market in Asia Pacific A CAGR of 7.5% is expected for the forecast period.
Growing demand for technologically advanced hands-free taps is a good sign for the market
The increasing demand for sophisticated, practical and environmentally friendly faucets increases the demand for kitchen faucets. “Companies are increasingly focused on improving the plumbing industry and setting new standards in electronic faucets,” said a senior analyst at Fortune Business Insights. This will lead to innovative and advanced kitchen fittings in the next few years.
Among the various types of kitchen faucet products including pull-out faucet, pull-out faucet, bar faucet, hands-free faucet and pot filter, the demand for hands-free faucet is expected to increase by 2025. Activated hands-free faucets are likely to increase in the years to come as they can save water and extend battery life.
The rapid digitization of kitchen faucets has drawn the attention of several users. The introduction of touchscreen kitchen faucets should be a good sign for the market. The additional advantages of hands-free fittings such as cost efficiency and energy saving contribute to the growth of the market.
Koehler’s cloud-based Konnect platform sets new standards in the faucet industry
The Jaquar Group, Lixil Group Corporation, Masco Corporation, Hansgrohe Group, Spectrum Bands, Fortune Brands, Roca Sanitario, SA and TOTO are some of the leading companies in the global kitchen faucet market. Several large and small companies are planning to set up production units to improve their production processes. In addition, manufacturers are trying to appeal to the urban population by launching premium kitchen faucet products like faucet faucets. In 2018 Koehler announced the introduction of the Koehler Konnect Platform. This platform is based on Microsoft’s Azure platform, which is equipped with cloud solutions for the Internet of Things (IoT). Koehler’s products consist of a Sensate faucet that works with voice commands or touchscreen interactions. This platform enables a user to monitor water usage and keep track of its usage on a daily basis. Other companies are also working on developing new kitchen faucets to help them survive the competition.
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Key companies covered in the report
- Lixil Group Corporation
- Hansgrohe Group
- Masco Corporation
- Lucky tokens
- Spectral bands
- Roca Sanitario, SA
- Jaquar Group
Browse the full report details enabled with full tables and figures:
- Market dynamics
- Drivers, Limitations, and Opportunities
- Important insights
- Macro and microeconomic factors
- Important technological trends and developments
- Price development
- Global Kitchen Faucets Market Analysis, Insights, and Forecasts, 2014-2025
- Main results / summary
- Market Size Estimates and Forecasts – By Type (USD MILLION)
- Pull-down faucet
- Pull-out faucet
- Hands free
- Bar taps
- Pot filter
- Faucet with side spray
- Market Size Estimates and Forecasts – By Installation Type (USD MILLION)
- Market Size Estimates and Forecasts – By Material Type (USD MILLION)
- Stainless steel
- Market Size Estimates and Forecasts – By Faucet Holes ($ Mn)
- Market Analysis, Insights, and Forecasts – By Geography (USD MILLION)
- North America
- Asia Pacific
- middle East and Africa
- Latin America
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