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Global Faucet Market Size, Share, Trends, Growth, Forecast: By Product Type: Electronic, Manual; By Material: Metal, Plastics; By Application: Bathroom, Kitchen, Others; By End Use: Residential, Commercial; Regional Analysis; Market Dynamics: SWOT Analysis, Porter’s Five Forces Analysis; Competitive Landscape; 2024-2032
Global Faucet Market Outlook
The global faucet market size reached nearly USD 43.46 billion in 2023. The market is further estimated to grow in the forecast period of 2024-2032 at a CAGR of 8% to attain a value of USD 86.96 billion by 2032.
A faucet is a device utilised to regulate the flow of liquid or gas from a pipe or a container. It is an essential accessory for bathrooms and kitchens and is gaining popularity amongst manufacturers to satisfy consumer needs, which has led to the production of different types of electronic and digital faucets having unique features like water management, temperature control, and automatic detection.
Faucets are used in kitchens, bathrooms, and other areas requiring controlled water delivery. They come in various styles and finishes, ranging from basic functional designs to elaborate, decorative styles. Modern faucets can also include features like touchless operation, water filtration systems, and temperature memory settings.
North America has been a leading market, attributed to increased spending on residential renovations and repairs. The Asia Pacific region is expected to witness substantial growth due to the booming construction sector and the wide range of products offered by market players in the region.
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Faucet Market Segmentation
The major product types in the market are:
- Electronic
- Manual
Manual faucets hold a significant share of the market. Their simplicity, lower cost, and widespread application in various settings, both residential and commercial, contribute to their continued demand. While electronic faucets are growing in popularity, manual faucets are still prevalent due to their reliability and ease of use in a wide range of settings.
Moreover, electronic faucets, also known as automatic faucets, are gaining popularity due to their efficiency, water-saving features, and hygienic benefits. These faucets typically come equipped with features like sensors for touch-free operation, temperature control displays, and efficiency sensors.
The market can be bifurcated on the basis of material into:
- Metal
- Plastics
Metal faucets, known for their durability and robustness, are a popular choice in both residential and commercial settings and occupy a significant faucet market share. They are often preferred for their long-lasting properties and resistance to wear and tear. Innovations in metal faucets, such as the introduction of touch-free, digital, and hybrid smart faucets with efficiency sensors and temperature gauges, have further enhanced their appeal in modern homes and commercial establishments.
Brands like Kohler, Grohe, and Franke have been incorporating these advanced features into their metal faucet offerings, reflecting the ongoing trend towards creating more luxurious and versatile home environments.
On the other hand, plastic faucets, while less durable than their metal counterparts, offer benefits like lower cost and lighter weight. They are often used in less demanding applications where cost is a more significant factor than longevity.
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The market can be broadly categorised on the basis of its applications into:
- Bathroom
- Kitchen
- Others
The bathroom segment leads the market due to the essential role of faucets in bathroom settings, both in residential and commercial spaces. The growth of this segment is driven by the expanding hospitality sector, including hotels, resorts, and hospitals, and the rising real estate sector globally. As new buildings and facilities are constructed, and existing ones are renovated or upgraded, the demand for bathroom faucets increases.
Additionally, the growing trend of modern and luxurious bathrooms in homes further boosts the faucet market demand.
The kitchen faucet segment is also anticipated to grow rapidly in the forecast period. This growth is expected to be driven by the increasing spending on home remodelling and the rising demand for advanced, elegant, multifunctional, and sophisticated kitchen faucets.
By end use, the market can be segmented into:
- Residential
- Commercial
The residential segment of the market is anticipated to expand at a relatively faster pace. The growth in residential construction, especially in developing countries like China, India, and Indonesia, is a key driver of the residential faucet market. As urban population grows and the demand for new housing rises, the demand for residential faucets is also expected to witness a significant growth.
There is a growing trend of renovating and modernising existing homes. Many homeowners are opting for more luxurious, efficient, and technologically advanced faucets as part of their bathroom and kitchen upgrades. The demand for faucets in the residential sector is also influenced by consumer preferences for aesthetically pleasing and functional designs. This includes preferences for features like touchless operation, water efficiency, and stylish finishes.
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The report also covers the major regional markets for faucet, which are as follows:
- North America
- Europe
- Asia Pacific
- Latin America
- Middle East and Africa
Faucet Market Analysis
The market for faucet is primarily driven by increasing residential and commercial construction, rising standards of living, and growing demand for modular kitchen and bathroom facilities. The robust growth of the real estate sector, rapid urbanisation, consumer preferences for aesthetically pleasing and functional designs, and technological innovations like digitised and automated faucets are some of the crucial faucet market trends.
The market caters to both residential and commercial sectors. The residential sector is witnessing rapid growth due to increasing construction activities, particularly in developing countries, and the trend of home renovation and modernisation in developed countries.
Expanding real estate sector to augment the market growth
The faucet market growth is being significantly driven by the expanding real estate sector, which is propelling the construction of residential and commercial buildings that require faucet installations. Rapid urbanisation, coupled with increasing disposable incomes, has aided the market growth. The growing introduction of innovative technologies like digitised and automated faucets, with energy and water-saving features, at cost-effective rates, has further catalysed the growth of the market due to increasing emphasis on energy conservation.
While the COVID-19 pandemic in 2020 had an adverse effect on the market due to the low availability of raw materials and disruptions in the supply chain, the market is expected to witness a rebound, supported by favourable trade policies. With governments around the globe aiming to provide housing to lower-income groups, the demand for faucets is further anticipated to grow.
Regional Insights
North America and the Asia Pacific are the Significant Regional Markets
North America is projected to be one of the largest faucets market in the forecast period. The market growth within North America can be attributed to the expanding residential sector in the region, which, in turn, has been driving market revenue. The Asia Pacific, meanwhile, is expected to be one of the fastest-growing regional markets in the coming years. The market growth in the Asia Pacific region is expected to be driven by rapid urbanisation in countries such as India and China. The market in the Asia Pacific region is also projected to be driven by the growing presence of regional and global players. For instance, in 2020, Jaquar, one of the leading faucet manufacturers in India, announced the opening of two new factories in India with a CAPEX of INR 200 crores.
Key Players in the Market
The faucet market report by EMR presents a detailed analysis of the following key players in the market, looking into their capacity, market shares, and latest developments like capacity expansions, plant turnarounds, and mergers and acquisitions:
- Danze Inc.
- Fortune Brands Home & Security, Inc.
- Franke Holding AG
- LIXIL Corporation
- Masco Corporation
- Others
The comprehensive report looks into the macro and micro aspects of the market. The EMR report gives an in-depth insight into the market by providing a SWOT analysis as well as an analysis of Porter’s Five Forces model.
Key Highlights of the Report
| REPORT FEATURES | DETAILS |
| Base Year | 2023 |
| Historical Period | 2018-2023 |
| Forecast Period | 2024-2032 |
| Scope of the Report |
Historical and Forecast Trends, Industry Drivers and Constraints, Historical and Forecast Market Analysis by Segment:
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| Breakup by Product Type |
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| Breakup by Material |
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| Breakup by Application |
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| Breakup by End Use |
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| Breakup by Region |
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| Market Dynamics |
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| Competitive Landscape |
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| Companies Covered |
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*At Expert Market Research, we strive to always give you current and accurate information. The numbers depicted in the description are indicative and may differ from the actual numbers in the final EMR report.
1 Preface
2 Report Coverage – Key Segmentation and Scope
3 Report Description
3.1 Market Definition and Outlook
3.2 Properties and Applications
3.3 Market Analysis
3.4 Key Players
4 Key Assumptions
5 Executive Summary
5.1 Overview
5.2 Key Drivers
5.3 Key Developments
5.4 Competitive Structure
5.5 Key Industrial Trends
6 Snapshot
6.1 Global
6.2 Regional
7 Opportunities and Challenges in the Market
8 Global Faucet Market Analysis
8.1 Key Industry Highlights
8.2 Global Faucet Historical Market (2018-2023)
8.3 Global Faucet Market Forecast (2024-2032)
8.4 Global Faucet Market by Product Type
8.4.1 Electronic
8.4.1.1 Historical Trend (2018-2023)
8.4.1.2 Forecast Trend (2024-2032)
8.4.2 Manual
8.4.2.1 Historical Trend (2018-2023)
8.4.2.2 Forecast Trend (2024-2032)
8.5 Global Faucet Market by Material
8.5.1 Metal
8.5.1.1 Historical Trend (2018-2023)
8.5.1.2 Forecast Trend (2024-2032)
8.5.2 Plastics
8.5.2.1 Historical Trend (2018-2023)
8.5.2.2 Forecast Trend (2024-2032)
8.6 Global Faucet Market by Application
8.6.1 Bathroom
8.6.1.1 Historical Trend (2018-2023)
8.6.1.2 Forecast Trend (2024-2032)
8.6.2 Kitchen
8.6.2.1 Historical Trend (2018-2023)
8.6.2.2 Forecast Trend (2024-2032)
8.6.3 Others
8.7 Global Faucet Market by End Use
8.7.1 Residential
8.7.1.1 Historical Trend (2018-2023)
8.7.1.2 Forecast Trend (2024-2032)
8.7.2 Commercial
8.7.2.1 Historical Trend (2018-2023)
8.7.2.2 Forecast Trend (2024-2032)
8.8 Global Faucet Market by Region
8.8.1 North America
8.8.1.1 Historical Trend (2018-2023)
8.8.1.2 Forecast Trend (2024-2032)
8.8.2 Europe
8.8.2.1 Historical Trend (2018-2023)
8.8.2.2 Forecast Trend (2024-2032)
8.8.3 Asia Pacific
8.8.3.1 Historical Trend (2018-2023)
8.8.3.2 Forecast Trend (2024-2032)
8.8.4 Latin America
8.8.4.1 Historical Trend (2018-2023)
8.8.4.2 Forecast Trend (2024-2032)
8.8.5 Middle East and Africa
8.8.5.1 Historical Trend (2018-2023)
8.8.5.2 Forecast Trend (2024-2032)
9 North America Faucet Market Analysis
9.1 United States of America
9.1.1 Historical Trend (2018-2023)
9.1.2 Forecast Trend (2024-2032)
9.2 Canada
9.2.1 Historical Trend (2018-2023)
9.2.2 Forecast Trend (2024-2032)
10 Europe Faucet Market Analysis
10.1 United Kingdom
10.1.1 Historical Trend (2018-2023)
10.1.2 Forecast Trend (2024-2032)
10.2 Germany
10.2.1 Historical Trend (2018-2023)
10.2.2 Forecast Trend (2024-2032)
10.3 France
10.3.1 Historical Trend (2018-2023)
10.3.2 Forecast Trend (2024-2032)
10.4 Italy
10.4.1 Historical Trend (2018-2023)
10.4.2 Forecast Trend (2024-2032)
10.5 Others
11 Asia Pacific Faucet Market Analysis
11.1 China
11.1.1 Historical Trend (2018-2023)
11.1.2 Forecast Trend (2024-2032)
11.2 Japan
11.2.1 Historical Trend (2018-2023)
11.2.2 Forecast Trend (2024-2032)
11.3 India
11.3.1 Historical Trend (2018-2023)
11.3.2 Forecast Trend (2024-2032)
11.4 ASEAN
11.4.1 Historical Trend (2018-2023)
11.4.2 Forecast Trend (2024-2032)
11.5 Australia
11.5.1 Historical Trend (2018-2023)
11.5.2 Forecast Trend (2024-2032)
11.6 Others
12 Latin America Faucet Market Analysis
12.1 Brazil
12.1.1 Historical Trend (2018-2023)
12.1.2 Forecast Trend (2024-2032)
12.2 Argentina
12.2.1 Historical Trend (2018-2023)
12.2.2 Forecast Trend (2024-2032)
12.3 Mexico
12.3.1 Historical Trend (2018-2023)
12.3.2 Forecast Trend (2024-2032)
12.4 Others
13 Middle East and Africa Faucet Market Analysis
13.1 Saudi Arabia
13.1.1 Historical Trend (2018-2023)
13.1.2 Forecast Trend (2024-2032)
13.2 United Arab Emirates
13.2.1 Historical Trend (2018-2023)
13.2.2 Forecast Trend (2024-2032)
13.3 Nigeria
13.3.1 Historical Trend (2018-2023)
13.3.2 Forecast Trend (2024-2032)
13.4 South Africa
13.4.1 Historical Trend (2018-2023)
13.4.2 Forecast Trend (2024-2032)
13.5 Others
14 Market Dynamics
14.1 SWOT Analysis
14.1.1 Strengths
14.1.2 Weaknesses
14.1.3 Opportunities
14.1.4 Threats
14.2 Porter’s Five Forces Analysis
14.2.1 Supplier’s Power
14.2.2 Buyer’s Power
14.2.3 Threat of New Entrants
14.2.4 Degree of Rivalry
14.2.5 Threat of Substitutes
14.3 Key Indicators for Demand
14.4 Key Indicators for Price
15 Value Chain Analysis
16 Competitive Landscape
16.1 Market Structure
16.2 Company Profiles
16.2.1 Danze Inc.
16.2.1.1 Company Overview
16.2.1.2 Product Portfolio
16.2.1.3 Demographic Reach and Achievements
16.2.1.4 Certifications
16.2.2 Fortune Brands Home & Security, Inc.
16.2.2.1 Company Overview
16.2.2.2 Product Portfolio
16.2.2.3 Demographic Reach and Achievements
16.2.2.4 Certifications
16.2.3 Franke Holding AG
16.2.3.1 Company Overview
16.2.3.2 Product Portfolio
16.2.3.3 Demographic Reach and Achievements
16.2.3.4 Certifications
16.2.4 LIXIL Corporation
16.2.4.1 Company Overview
16.2.4.2 Product Portfolio
16.2.4.3 Demographic Reach and Achievements
16.2.4.4 Certifications
16.2.5 Masco Corporation
16.2.5.1 Company Overview
16.2.5.2 Product Portfolio
16.2.5.3 Demographic Reach and Achievements
16.2.5.4 Certifications
16.2.6 Others
17 Key Trends and Developments in the Market
List of Key Figures and Tables
1. Global Faucet Market: Key Industry Highlights, 2018 and 2032
2. Global Faucet Historical Market: Breakup by Product Type (USD Billion), 2018-2023
3. Global Faucet Market Forecast: Breakup by Product Type (USD Billion), 2024-2032
4. Global Faucet Historical Market: Breakup by Material (USD Billion), 2018-2023
5. Global Faucet Market Forecast: Breakup by Material (USD Billion), 2024-2032
6. Global Faucet Historical Market: Breakup by Application (USD Billion), 2018-2023
7. Global Faucet Market Forecast: Breakup by Application (USD Billion), 2024-2032
8. Global Faucet Historical Market: Breakup by End Use (USD Billion), 2018-2023
9. Global Faucet Market Forecast: Breakup by End Use (USD Billion), 2024-2032
10. Global Faucet Historical Market: Breakup by Region (USD Billion), 2018-2023
11. Global Faucet Market Forecast: Breakup by Region (USD Billion), 2024-2032
12. North America Faucet Historical Market: Breakup by Country (USD Billion), 2018-2023
13. North America Faucet Market Forecast: Breakup by Country (USD Billion), 2024-2032
14. Europe Faucet Historical Market: Breakup by Country (USD Billion), 2018-2023
15. Europe Faucet Market Forecast: Breakup by Country (USD Billion), 2024-2032
16. Asia Pacific Faucet Historical Market: Breakup by Country (USD Billion), 2018-2023
17. Asia Pacific Faucet Market Forecast: Breakup by Country (USD Billion), 2024-2032
18. Latin America Faucet Historical Market: Breakup by Country (USD Billion), 2018-2023
19. Latin America Faucet Market Forecast: Breakup by Country (USD Billion), 2024-2032
20. Middle East and Africa Faucet Historical Market: Breakup by Country (USD Billion), 2018-2023
21. Middle East and Africa Faucet Market Forecast: Breakup by Country (USD Billion), 2024-2032
22. Global Faucet Market Structure
Key Questions Answered in the Report
In 2023, the global faucet market attained a value of nearly USD 43.46 billion.
The market is projected to grow at a CAGR of 8% between 2024 and 2032.
The market is estimated to witness a healthy growth in the forecast period of 2024-2032 to reach around USD 86.96 billion by 2032.
The major drivers of the market are the robust growth of the real estate sector, rapid urbanisation, and favourable trade policies by governments to increase construction activities.
The key trends guiding the market growth include the surging awareness regarding resource conservation and the introduction of innovative technologies such as digitised and automated faucets with energy and water-saving features.
The major regions in the faucet market are North America, Latin America, Europe, the Middle East and Africa, and the Asia Pacific.
The major product types of faucets are electronic and manual.
The various segments based on the materials of faucet are metal and plastics.
Bathroom and kitchen, among others, are the significant applications of faucet.
The different end uses of faucet are residential and commercial.
The major players in the industry are Danze Inc., Fortune Brands Home & Security, Inc., Franke Holding AG, LIXIL Corporation, and Masco Corporation, among others.
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