Global Faucet Market 2018-2022| Growth Analysis and Forecast| Technavio

According to the global faucet market research report by Technavio, the market will register a CAGR of close to 9% during the period 2018-2022.

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A key driver for the global faucet market is the changing consumer preference and lifestyle, which is giving rise to luxury homes. The rising disposable income is prompting residential end-users to make additional expenditure on the interiors of the house. The consumers have been focusing on the installation of smart faucets in their homes as they provide the consumers with ease of operation and offer energy and water conservation. Grohe, a major vendor in the faucet market, introduced its new essence series of faucets that are available with maximum combination of color, finishes, and sizes.

This global faucet market research report also provides an analysis of the most important trends expected to impact the market outlook during the period 2018-2022. Technavio classifies an emerging trend as a major factor that has the potential to significantly impact the market and contribute to its growth or decline.

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In this report, Technavio highlights the introduction of smart faucets as one of the key trends in the global faucet market:

Global faucet market: Introduction of smart faucets

There are three different types of smart faucets including, touch-free, digital, and combination. The touch-free faucets create a germ-free and healthy environment at the place of installation. The temperature and flow controllers will dispense the exact amount of water required at the set temperature. The smart faucets are digitally enabled systems with an inbuilt digital display. The display offers information regarding the temperature and the flow. Thus, the flow can be adjusted based on the preference of the user.

“The combination type of smart faucet has the advantage of both the touch-free and digital faucets. This smart faucet helps in saving water. The smart faucet proves to be efficient in the long run as it saves water every time it is used,” says a senior analyst at Technavio for research on the construction industry.

Global faucet market: Segmentation analysis

This faucet market analysis report segments the market by technology (cartridge faucets, compression faucets, ceramic disc faucets, and ball faucets), end-user (residential and non-residential), and geography (the Americas, APAC, and EMEA).

The cartridge faucets segment held the largest faucet market share in 2017, accounting for more than 41% of the market. This technology segment is expected to dominate the global market throughout the forecast period.

The Americas led the market in 2017 with more than 39% of the market share, followed by EMEA and APAC respectively. The Americas is expected to dominate the market throughout the period 2018-2022.

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Some of the key topics covered in the report include:

Market Landscape

• Market ecosystem
• Market characteristics
• Market segmentation analysis

Market Sizing

• Market definition
• Market size and forecast

Five Forces Analysis

Market Segmentation

Geographical Segmentation

• Regional comparison
• Key leading countries

Market Drivers

Market Challenges

Market Trends

Vendor Landscape

• Vendors covered
• Vendor classification
• Market positioning of vendors
• Competitive scenario

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