Faucet Market (By End-user: Residential, Commercial; By Application: Bathroom, Kitchen; By Distribution Channel: Online, Offline) - Global Industry Analysis, Size, Share, Growth, Trends, Revenue, Regional Outlook 20212030

The global Faucet market size is expected to be worth around US$ 40.1 billion by 2030, according to a new report by Vision Research Reports.

The global Faucet market size was valued at US$ 20.3 billion in 2020 and is anticipated to grow at a CAGR of 7.8% during forecast period 2021 to 2030.

Report Coverage

Growth Factors

Rapid growth of the bathroom fittings industry is presenting lucrative opportunities for faucets as a result of the rising demand for modernized bathrooms and kitchens. Additionally, the increasing prominence of multi-functionality features on plumbing fixtures, with due importance given to aesthetic appeal is boosting demand for a variety of faucets in the market.

Increasing spending on home improvement projects or home remodeling is also boosting the application demand. The need for water conservation measures is also resulting in the greater penetration of new and efficient faucets across applications.

By End-user Analysis

In terms of value, the commercial segment dominated the market and accounted for the largest revenue share of 58.1% in 2020. By the end of 2030, this segment is expected to account for a total market share of 57.5% and is also expected to witness the fastest CAGR of 8.0% over the forecast period. 

The residential sector of the market has a high spending potential from young house owners in affordable markets. The increasing number of millennials buying homes, particularly pre-owned homes, is fueling the demand for plumbing fixtures.

By Distribution Channel Analysis

In terms of distribution channels, the offline segment dominated the market and accounted for the largest revenue share of 89.61% in 2020. Also, the segment is projected to witness a CAGR of 7.8% over the forecasted period, thereby reaching a value of USD 28,502.1 million by 2030.

The brick and mortar segment is the most preferred distribution channel due to their provision of detailed instructions about installation by application specialists. 

The online segment is projected to be the fastest-growing segment in the market and was valued at USD 3,078.5 million in 2020. Also, the segment is expected to witness a CAGR of 8.1% over the forecast period, thereby reaching a value of USD 4,622.3 million by 2030. 

By Application Analysis

In terms of application, the bathrooms segment dominated the market and accounted for the largest revenue share of 43.2% in 2020. Also, the segment is projected to witness a CAGR of 7.9% over the forecasted period, thereby reaching a value of USD 14.2 billion by 2030.

The demand for faucets for bathroom applications is driven by the growing hospitality industry along with the rising real estate sector on a global level. The growing leisure and hospitality sector is the primary factor to fuel the demand for bathroom accessories worldwide.

The kitchen segment is projected to be the fastest-growing segment in the market and was valued at USD 7,156.0 million in 2020. Also, the segment is expected to witness a CAGR of 8.2% over the forecast period, thereby reaching a value of USD 11,697.3 million by 2030.

Increasing spending on home remodeling is driving the demand for kitchen faucets. The growth is attributed to the rising demand for elegant, multifunctional, and sophisticated kitchen faucets. 

By Regional Analysis

North America held the largest revenue share of 27.6% in 2020. The market growth is mainly attributed to the increased spending on residential renovations and repairs by people across North America. 

Asia Pacific is expected to witness a CAGR of 8.5% over the forecast period. The growth of the market is mainly attributed to the increased spending on residential renovations and repairs by people across North America. 

Key Players

• Kohler Co.

• Kraus, USA

• American Standard Brands

• GROHE America Inc.

• Pfister

• Delta Faucet Company

• Moen Incorporated

• Aqua Source Faucet

Market Segmentation

• By End-user

  • Residential

  • Commercial

• By Application 

  • Bathroom

  • Kitchen

  • Others

• By Distribution Channel

  • Online

  • Offline

• Regional

  • North America

    • U.S.

  • Europe

    • Germany

    • U.K.

  • Asia Pacific

    • China

    • India

  • Central & South America

    • Brazil

  • Middle East & Africa (MEA)

The Faucet market research report covers definition, classification, product classification, product application, development trend, product technology, competitive landscape, industrial chain structure, industry overview, national policy and planning analysis of the industry, the latest dynamic analysis, etc., and also includes major. The study includes drivers and restraints of the global market. It covers the impact of these drivers and restraints on the demand during the forecast period. The report also highlights opportunities in the market at the global level.

The report provides size (in terms of volume and value) of Faucet market for the base year 2020 and the forecast between 2021 and 2030. Market numbers have been estimated based on form and application. Market size and forecast for each application segment have been provided for the global and regional market.

This report focuses on the global Faucet market status, future forecast, growth opportunity, key market and key players. The study objectives are to present the Faucet market development in United States, Europe and China.

It is pertinent to consider that in a volatile global economy, we haven’t just conducted Faucet market forecasts in terms of CAGR, but also studied the market based on key parameters, including Year-on-Year (Y-o-Y) growth, to comprehend the certainty of the market and to find and present the lucrative opportunities in market.

In terms of production side, this report researches the Faucet capacity, production, value, ex-factory price, growth rate, market share for major manufacturers, regions (or countries) and type.

In terms of consumption side, this report focuses on the consumption of Faucet by regions (countries) and application.

Buyers of the report will have access to verified market figures, including global market size in terms of revenue and volume. As part of production analysis, the authors of the report have provided reliable estimations and calculations for global revenue and volume by Type segment of the global Faucet market. These figures have been provided in terms of both revenue and volume for the period 2017 to 2030. Additionally, the report provides accurate figures for production by region in terms of revenue as well as volume for the same period. The report also includes production capacity statistics for the same period.

With regard to production bases and technologies, the research in this report covers the production time, base distribution, technical parameters, research and development trends, technology sources, and sources of raw materials of major Faucet market companies.

Regarding the analysis of the industry chain, the research of this report covers the raw materials and equipment of Faucet market upstream, downstream customers, marketing channels, industry development trends and investment strategy recommendations. The more specific analysis also includes the main application areas of market and consumption, major regions and Consumption, major Chinese producers, distributors, raw material suppliers, equipment providers and their contact information, industry chain relationship analysis.

The research in this report also includes product parameters, production process, cost structure, and data information classified by region, technology and application. Finally, the paper model new project SWOT analysis and investment feasibility study of the case model.

Overall, this is an in-depth research report specifically for the Faucet industry. The research center uses an objective and fair way to conduct an in-depth analysis of the development trend of the industry, providing support and evidence for customer competition analysis, development planning, and investment decision-making. In the course of operation, the project has received support and assistance from technicians and marketing personnel in various links of the industry chain.

Faucet market competitive landscape provides details by competitor. Details included are company overview, company financials, revenue generated, market potential, investment in research and development, new market initiatives, global presence, production sites and facilities, production capacities, company strengths and weaknesses, product launch, product width and breadth, application dominance. The above data points provided are only related to the companies’ focus related to Faucet market.

Prominent players in the market are predicted to face tough competition from the new entrants. However, some of the key players are targeting to acquire the startup companies in order to maintain their dominance in the global market. For a detailed analysis of key companies, their strengths, weaknesses, threats, and opportunities are measured in the report by using industry-standard tools such as the SWOT analysis. Regional coverage of key companies is covered in the report to measure their dominance. Key manufacturers of Faucet market are focusing on introducing new products to meet the needs of the patrons. The feasibility of new products is also measured by using industry-standard tools.

Key companies are increasing their investments in research and development activities for the discovery of new products. There has also been a rise in the government funding for the introduction of new Faucet market. These factors have benefited the growth of the global market for Faucet. Going forward, key companies are predicted to benefit from the new product launches and the adoption of technological advancements. Technical advancements have benefited many industries and the global industry is not an exception.

New product launches and the expansion of already existing business are predicted to benefit the key players in maintaining their dominance in the global market for Faucet. The global market is segmented on the basis of region, application, en-users and product type. Based on region, the market is divided into North America, Europe, Asia-Pacific, Latin America and Middle East and Africa (MEA).

In this study, the years considered to estimate the market size of Faucet are as follows:

• History Year: 2017-2020

• Base Year: 2021

• Forecast Year 2021 to 2030

Reasons to Purchase this Report:

- Market segmentation analysis including qualitative and quantitative research incorporating the impact of economic and policy aspects
- Regional and country level analysis integrating the demand and supply forces that are influencing the growth of the market.
- Market value USD Million and volume Units Million data for each segment and sub-segment
- Competitive landscape involving the market share of major players, along with the new projects and strategies adopted by players in the past five years
- Comprehensive company profiles covering the product offerings, key financial information, recent developments, SWOT analysis, and strategies employed by the major market players

Research Methodology:

In-depth interviews and discussions were conducted with several key market participants and opinion leaders to compile the research report.

This research study involved the extensive usage of both primary and secondary data sources. The research process involved the study of various factors affecting the industry, including the government policy, market environment, competitive landscape, historical data, present trends in the market, technological innovation, upcoming technologies and the technical progress in related industry, and market risks, opportunities, market barriers and challenges. The following illustrative figure shows the market research methodology applied in this report.

The study objectives of this report are:

• To analyze and study the global market capacity, production, value, consumption, status (2017-2020) and forecast (2021-2030);
• Focuses on the key manufacturers, to study the capacity, production, value, market share and development plans in future.
• Comprehensive company profiles covering the product offerings, key financial information, recent developments, SWOT analysis, and strategies employed by the major market players
• To define, describe and forecast the market by type, application and region.
• To analyze the global and key regions market potential and advantage, opportunity and challenge, restraints and risks.
• To identify significant trends and factors driving or inhibiting the market growth.
• To analyze the opportunities in the market for stakeholders by identifying the high growth segments.
• To strategically analyze each submarket with respect to individual growth trend and their contribution to the market
• To analyze competitive developments such as expansions, agreements, new product launches, and acquisitions in the market
• To strategically profile the key players and comprehensively analyze their growth strategies.