Global Faucet Market to Grow at a CAGR of 8% During 2024-2032, Aided by a Heightened Focus on Health and Sanitation Among Consumers.

Rapi urbanisation is one of the primary drivers propelling the faucet market expansion. The swift migration of people from rural to urban settlements has resulted in a surge in construction activities, encompassing new residential developments, commercial structures, and public infrastructure projects. This amplified volume of construction necessitates a broad assortment of plumbing fixtures and fittings, specifically faucets designated for bathrooms and kitchens.

 
Urban centers provide distinct advantages for faucet installation and use. Namely, highly developed water and waste systems found in metropolitan areas allow for the feasible integration of sophisticated fixture technology. Moreover, the concentration of commercial and business enterprises within urban environments, such as hotels, restaurants, and offices, generates diverse and specialised plumbing demands beyond those of traditional residential settings.

Consumers are demonstrating heightened awareness of the importance of hand hygiene in mitigating the transmission of viruses and bacteria. This expanding health cognizance is propelling requirements for fixtures that furnish hygienic capabilities, such as contactless or sensor-driven functionality, which diminishes actual contact with the unit and decreases the probability of cross-contamination.

Masco Corporation (NYSE: MAS), a leading manufacturer and distributor of plumbing products such as faucets, flush valves, and related accessories, operates through subsidiaries such as Mercury Plastics LLC, Bristan Group, and Delta Faucet Company. Masco offers a wide range of plumbing products for both residential and commercial applications. The company's portfolio includes renowned brands like Delta®, Brizo®, and Peerless® that are recognised worldwide for quality, innovation, and style.

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Market Breakup by Product Type, Material, Application, End Use, and Region:

• On the basis of the product type, the market is bifurcated into electronic and manual.

• The market can be segmented based on material into metal and plastics.

• On the basis of the application, the market is bifurcated into bathroom and kitchen, among others.

• The market can be segmented based on end use into residential and commercial.

• By region, the market can be divided into North America, Europe, the Asia Pacific, Latin America, and the Middle East and Africa.

Key Findings of the Report:

• The increasing adoption of sensor-based faucets in healthcare settings with strict hygiene standards is driving the faucet market growth. Furthermore, the rising demand for easy-to-clean faucet designs with fewer crevices or grooves where bacteria can accumulate is supporting the market growth. The introduction of faucets coated with antimicrobial substances to provide extra protection against bacterial proliferation is also propelling the market forward.

• Rapid technological advancements are propelling the growth of the smart faucet. For example, the introduction of sensor-based faucets that allow for touchless operation improves hygiene while enhancing water conservation efforts. Furthermore, the launch of smart faucets equipped with features such as temperature control settings, water usage data tracking, and compatibility with home automation systems is contributing to market expansion. These digitally enabled products meet the rising demand among consumers for hands-free and data-driven solutions in the bathroom space.

• Furthermore, some high-end faucet models incorporate integrated water filtration systems that purify water prior to dispensing, thereby providing an additional layer of protection. Consumers have also demonstrated strong interest in smart faucets that can be controlled via smartphone, consistent with the broader adoption of smart home technologies.

Key Offerings of the Report:

• The EMR report gives an overview of the global faucet market for the periods (2018-2023) and (2024-2032).

• The report also offers historical (2018-2023) and forecast (2024-2032) market information for the product types, materials, applications, end uses, and major regions of faucet.

• The report analyses the market dynamics, covering the key demand and price indicators in the market, along with providing an assessment of the SWOT and Porter’s Five Forces models.

The major players in the global faucet market are Danze Inc., Fortune Brands Home & Security, Inc., Franke Holding AG, LIXIL Corporation, and Masco Corporation, among others. The comprehensive report by EMR looks into the market share, capacity, and latest developments like mergers and acquisitions, plant turnarounds, and capacity expansions of the major players.

Key Highlights of the Report

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