Faucet Market by Product, Installation, Material, Distribution Channel, End-User

List of Tables

[187 Pages Report] The Faucet Market size was estimated at USD 2.10 billion in 2023 and expected to reach USD 2.25 billion in 2024, at a CAGR 7.32% to reach USD 3.45 billion by 2030.

Faucets and plumbing fixtures are essential in buildings to provide access to water and drainage systems attached to sinks, toilets, showers, bathtubs, and other building plumbing systems. Faucets are essential to any bathroom or kitchen as they provide a convenient and efficient way to access water for various tasks, such as washing hands, brushing teeth, washing dishes, and preparing food. The number of remodeling and renovation projects in the residential sector has significantly increased, and homeowners frequently upgrade their plumbing fixtures as part of efforts to modernize and functionally enhance their residences. Manufacturers emphasize producing aesthetically pleasing and functional faucets with various finishes, designs, and materials owing to their popularity in recent times. Compared to conventional faucets, sensor-based faucets, which employ infrared technology to feel the user's presence and switch automatically, are expensive and out of reach for some customers. In addition, many low-quality faucets are available in the market, which might result in subpar performance and a shorter lifespan. Conventional faucets are prone to malfunctions with leaks, blockages, and corrosion, which can be expensive to fix and inconvenient for the user. With the rise of technology, there has been a recent trend toward introducing digital and electronic faucets. Moreover, manufacturers provide cutting-edge and opulent styles that cater to various preferences and tastes, including minimalist and vintage designs and finishes with matte black and rose gold. With more alternatives available to customers, these designs improve the aesthetic appeal of kitchens and bathrooms; thus, these trends are assisting the faucet market in growing in the coming years.

KEY MARKET STATISTICS
Base Year [2023]	USD 2.10 billion
Estimated Year [2024]	USD 2.25 billion
Forecast Year [2030]	USD 3.45 billion
CAGR (%)	7.32%

Product: Growing demand for hands-free faucets due to their water-saving potential

Bar faucets are designed for compact spaces and secondary sinks, offering convenience and style for home bars or prep stations. These faucets are smaller than kitchen faucets and often come in designs that complement the main kitchen faucet. The faucet with side spray comes with a separate sprayer connected by a hose, offering added functionality for tasks like rinsing dishes or cleaning the sink. Hands-free faucets are activated by motion sensors, hands-free faucets offer convenience and hygiene by minimizing touchpoints, reducing the spread of germs. These faucets are highly preferred in residential and commercial settings for their hygiene benefits, especially due to health concerns. Wall-mounted or deck-mounted faucets that extend to fill pots on the stove are designed to add convenience and reduce the effort of carrying heavy water-filled pots. Pull-down faucets come with a spray head that pulls down directly into the sink, offering a more flexible and targeted cleaning option. It is Ideal for users seeking versatility and efficiency in kitchen tasks, from filling pots to rinsing with ease. The pull-down feature makes it easy to manage tasks with one hand.

Distribution Channel: Growing preference towards online channels due to its convenience in shopping

The offline distribution channel remains a significant pathway for faucet sales, primarily encompassing brick-and-mortar stores such as home improvement outlets, specialty plumbing stores, and large retail chains. This channel often caters to consumers seeking a tactile purchasing experience, enabling them to physically assess the quality, design, and functionality of faucets. Online sales of faucets have experienced a significant upsurge, attributed to the convenience of browsing extensive catalogs, comparing prices, and accessing consumer reviews. E-commerce giants including Amazon, Wayfair, and manufacturers' direct-to-consumer platforms have become key players in this segment.

Regional Insights

The faucet market in the Americas, APAC, and Europe is experiencing a developing landscape owing to the number of introductions of innovative products developments and their commercialization. The growing number of home renovation and remolding projects are witnessed in the U.S., Canada, the UK, India, Australia, China, South Korea, and Japan to develop advanced faucets. High-end faucets with innovative, technologically advanced designs are majorly made in Italy. German faucets are renowned for their high quality, functionality, and detailed design, with a focus on precision engineering and attention to detail. Additionally, the investments in the building and construction activities of the Americas and APAC region foster the demand for luxurious faucets for smart kitchens and bathrooms. Several regional architectural and interior working firms are advancing their materials and designs for faucets that can withstand high water pressure, temperature change, and durability of the material.

FPNV Positioning Matrix

The FPNV Positioning Matrix is pivotal in evaluating the Faucet Market. It offers a comprehensive assessment of vendors, examining key metrics related to Business Strategy and Product Satisfaction. This in-depth analysis empowers users to make well-informed decisions aligned with their requirements. Based on the evaluation, the vendors are then categorized into four distinct quadrants representing varying levels of success: Forefront (F), Pathfinder (P), Niche (N), or Vital (V).

Market Share Analysis

The Market Share Analysis is a comprehensive tool that provides an insightful and in-depth examination of the current state of vendors in the Faucet Market. By meticulously comparing and analyzing vendor contributions in terms of overall revenue, customer base, and other key metrics, we can offer companies a greater understanding of their performance and the challenges they face when competing for market share. Additionally, this analysis provides valuable insights into the competitive nature of the sector, including factors such as accumulation, fragmentation dominance, and amalgamation traits observed over the base year period studied. With this expanded level of detail, vendors can make more informed decisions and devise effective strategies to gain a competitive edge in the market.

Key Company Profiles

The report delves into recent significant developments in the Faucet Market, highlighting leading vendors and their innovative profiles. These include Acquaviva India Pvt. Ltd., Aquant, Boyel Living, Brondell, Inc., CERA, Dornbracht AG & Co. KG, Duravit AG, Fortune Brands Innovations, Inc., Franke Holding AG, Geberit International Sales AG, GWA Group Limited, Hindware Home Innovation Limited, Jacuzzi Inc., Jaquar Group, KEUCO GmbH & Co. KG, Kohler Co., Kraus USA Plumbing LLC, Lecico PLC, LIXIL Corporation, Masco Corporation, Neoperl Group AG, Paini (UK) Ltd., Roca Sanitario, S.A, ROHL LLC, Sloan Valve Company, Spectrum Brands Holdings, Inc., TOTO Ltd., Vitra, Waterstone Faucets LLC, and Zurn Elkay Water Solutions Corporation.

Market Segmentation & Coverage

This research report categorizes the Faucet Market to forecast the revenues and analyze trends in each of the following sub-markets:

Product
- Bar Faucets
- Faucet with Side Spray
- Hands-Free
- PotFilters
- Pull-Down Faucet

Installation
- DeckMount
- WallMount

Material
- Bronze
- Chrome
- Plastic
- Stainless Steel

Distribution Channel
- Offline
- Online

End-User
- Commercial
- Residential

Region
- Americas
  - Argentina
  - Brazil
  - Canada
  - Mexico
  - United States
    - California
    - Florida
    - Illinois
    - New York
    - Ohio
    - Pennsylvania
    - Texas
- Asia-Pacific
  - Australia
  - China
  - India
  - Indonesia
  - Japan
  - Malaysia
  - Philippines
  - Singapore
  - South Korea
  - Taiwan
  - Thailand
  - Vietnam

Europe, Middle East & Africa
- Denmark
- Egypt
- Finland
- France
- Germany
- Israel
- Italy
- Netherlands
- Nigeria
- Norway
- Poland
- Qatar
- Russia
- Saudi Arabia
- South Africa
- Spain
- Sweden
- Switzerland
- Turkey
- United Arab Emirates
- United Kingdom

The report offers valuable insights on the following aspects:

1. Market Penetration: It presents comprehensive information on the market provided by key players.

2. Market Development: It delves deep into lucrative emerging markets and analyzes the penetration across mature market segments.

3. Market Diversification: It provides detailed information on new product launches, untapped geographic regions, recent developments, and investments.

4. Competitive Assessment & Intelligence: It conducts an exhaustive assessment of market shares, strategies, products, certifications, regulatory approvals, patent landscape, and manufacturing capabilities of the leading players.

5. Product Development & Innovation: It offers intelligent insights on future technologies, R&D activities, and breakthrough product developments.

The report addresses key questions such as:

1. What is the market size and forecast of the Faucet Market?

2. Which products, segments, applications, and areas should one consider investing in over the forecast period in the Faucet Market?

3. What are the technology trends and regulatory frameworks in the Faucet Market?

4. What is the market share of the leading vendors in the Faucet Market?

5. Which modes and strategic moves are suitable for entering the Faucet Market?

Product Code: MRR-3A2E844FF3CF

1. Preface

1.1. Objectives of the Study
1.2. Market Segmentation & Coverage
1.3. Years Considered for the Study
1.4. Currency & Pricing
1.5. Language
1.6. Stakeholders

2. Research Methodology

2.1. Define: Research Objective
2.2. Determine: Research Design
2.3. Prepare: Research Instrument
2.4. Collect: Data Source
2.5. Analyze: Data Interpretation
2.6. Formulate: Data Verification
2.7. Publish: Research Report
2.8. Repeat: Report Update

3. Executive Summary

4. Market Overview

5. Market Insights

5.1. Market Dynamics
- 5.1.1. Drivers
  - 5.1.1.1. Increasing number of renovation and remodeling activities in residential sector
  - 5.1.1.2. Development in the style and design of the faucet for improved bathroom and kitchen aesthetics
- 5.1.2. Restraints
  - 5.1.2.1. High cost of sensor-based faucets and presence of substandard faucets
- 5.1.3. Opportunities
  - 5.1.3.1. Introduction of digital and electronic faucets
  - 5.1.3.2. Emergence of innovative and luxurious faucet designs
- 5.1.4. Challenges
  - 5.1.4.1. Operational issues associated with the use of faucets
5.2. Market Segmentation Analysis
- 5.2.1. Product: Growing demand for hands-free faucets due to their water-saving potential
- 5.2.2. Distribution Channel: Growing preference towards online channels due to its convenience in shopping
5.3. Market Trend Analysis
- 5.3.1. Presence of standardized plumbing fixtures and innovation in faucet systems
- 5.3.2. High potential owing to the construction, renovation, and remodeling activities in Asia-Pacific
- 5.3.3. High availability of raw materials coupled with increasing presence of native market players
5.4. Cumulative Impact of Russia-Ukraine Conflict
5.5. Cumulative Impact of High Inflation
5.6. Porter's Five Forces Analysis
- 5.6.1. Threat of New Entrants
- 5.6.2. Threat of Substitutes
- 5.6.3. Bargaining Power of Customers
- 5.6.4. Bargaining Power of Suppliers
- 5.6.5. Industry Rivalry
5.7. Value Chain & Critical Path Analysis
5.8. Regulatory Framework Analysis
5.9. Client Customization

6. Faucet Market, by Product

6.1. Introduction
6.2. Bar Faucets
6.3. Faucet with Side Spray
6.4. Hands-Free
6.5. PotFilters
6.6. Pull-Down Faucet

7. Faucet Market, by Installation

7.1. Introduction
7.2. DeckMount
7.3. WallMount

8. Faucet Market, by Material

8.1. Introduction
8.2. Bronze
8.3. Chrome
8.4. Plastic
8.5. Stainless Steel

9. Faucet Market, by Distribution Channel

9.1. Introduction
9.2. Offline
9.3. Online

10. Faucet Market, by End-User

10.1. Introduction
10.2. Commercial
10.3. Residential

11. Americas Faucet Market

11.1. Introduction
11.2. Argentina
11.3. Brazil
11.4. Canada
11.5. Mexico
11.6. United States

12. Asia-Pacific Faucet Market

12.1. Introduction
12.2. Australia
12.3. China
12.4. India
12.5. Indonesia
12.6. Japan
12.7. Malaysia
12.8. Philippines
12.9. Singapore
12.10. South Korea
12.11. Taiwan
12.12. Thailand
12.13. Vietnam

13. Europe, Middle East & Africa Faucet Market

13.1. Introduction
13.2. Denmark
13.3. Egypt
13.4. Finland
13.5. France
13.6. Germany
13.7. Israel
13.8. Italy
13.9. Netherlands
13.10. Nigeria
13.11. Norway
13.12. Poland
13.13. Qatar
13.14. Russia
13.15. Saudi Arabia
13.16. South Africa
13.17. Spain
13.18. Sweden
13.19. Switzerland
13.20. Turkey
13.21. United Arab Emirates
13.22. United Kingdom

14. Competitive Landscape

14.1. Market Share Analysis, 2023
14.2. FPNV Positioning Matrix, 2023
14.3. Competitive Scenario Analysis
- 14.3.1. Truflo by Hindware forays into PTMT faucets, accessories
- 14.3.2. GROHE expands Saudi footprint with a largest-ever showroom of its kind in partnership with Bayt Alebaa, Jeddah
- 14.3.3. Moen Launches World's First-Ever Totally Touchless Smart Faucet With New "King Midas" Campaign
- 14.3.4. Kohler Launches New Riff Bathroom Faucet Collection
- 14.3.5. Ideal Standard joins forces with Faucets
- 14.3.6. Kohler Launches Purist Suspend Ceiling-Mount Kitchen Faucet
- 14.3.7. Cera to invest USD 24.36 million in sanitaryware, faucetware expansion
- 14.3.8. Brilloca to acquire building products manufacturing business of HSIL
- 14.3.9. Moen Launched Smart Faucet with Best-in-Class Motion Control Technology for Completely Touchless Operation
- 14.3.10. Delta Faucet Company Joins Indy Eleven Corporate Partnerships Family
- 14.3.11. Kraus USA Releases New Bolden Sensor Faucet

15. Competitive Portfolio

15.1. Key Company Profiles
15.2. Key Product Portfolio