Faucets are fixtures that control the flow of water in a plumbing system. They are commonly seen in the kitchen, bathroom, and other areas where water is required on a regular basis. Faucets come in a variety of styles, colors, and finishes to meet the needs of a wide spectrum of customers. In the worldwide plumbing sector, the global market for kitchen faucets is now expanding, with traditional kitchen faucet suppliers focused on developing innovative faucets that is expected to attract a large client base and enable the market for kitchen faucets to grow. Faucet manufacturers are now concentrating on producing faucets that match the demand for greater quality, durability, and aesthetics due to the increased need for modern kitchens. Furthermore, change in customer tastes, as well as rise in lifestyles have raised expenditure on luxury residences and renovations, which has boosted the market demand. Customers prefer the bar faucet as it is easier to operate and less expensive than kitchen faucets. This trend has fueled the demand for kitchen faucets, which in turn would enhance the market growth of kitchen faucets.
COVID-19 Impact analysis
- The coronavirus outbreak has had a substantial influence on not only a variety of businesses, but on all stages of their supply chains and value chains. Consumer goods is one such business that is currently experiencing difficulties as a result of the pandemic.
- Raw material supply is one of the most important sections of the faucets market's value chain, where key companies and vendors are experiencing issues owing to inadequate logistics, traffic control, and restrictions on public mobility in affected nations throughout the world, which can cause supply interruptions.
- Major market actors have been forced to reconsider their contingency plan and risk management as a result of the pandemic. To fight this issue, the market's key participants have concentrated on regaining control of their businesses.
Top Impacting Factors
- In the worldwide plumbing sector, the global market for kitchen faucets is now expanding, with traditional kitchen faucet suppliers focused on developing innovative faucets that is anticipated to attract a large client base and enable the market for kitchen faucets to grow.
- The rise in new building of residential apartments, development in commercial spaces, refurbishment of residences, and replacement of old faucets are the factors that drive the expansion of the manual segment in the market.
- With the growing popularity of contemporary washrooms and synchronized sanitary-ware, fittings, and accessories, the market's major players now offer a one-stop shop for all sanitary ware and fitting equipment.
- Increase in inclination to live in single-family dwelling among persons in their 30s and 40s adds significantly to raise demand for single-family housing, which in turn has increased demand for new house sales and positively impacted the residential faucets market.
- Customers prefer the bar faucet because it is easier to operate and less expensive than kitchen faucets. This trend is increasing demand for kitchen faucets, which would boost the market growth of kitchen faucets.
Market Trends
New Product Launches to Flourish the Market
The launch of new products that contain improved capabilities have been launched by leading market players. The kitchen faucet is that inexpensive piece of hardware that may bring a dash of color to the kitchen décor. Changing it provides your kitchen a quick facelift, and you don't have to go through the hassle of a full makeover. The touch less faucets have been available for long, however, the pandemic has increased demand from homeowners who want to keep germs out of their houses.
While many of the latest faucets can be turned on with a wave of the hand, this isn't the only touchless technology available. Several faucet vendors, including Amazon Alexa, Google Home, and Apple HomeKit, now allow you to combine faucets with your home voice assistant. Kohler and Moen now have faucets that allow you to issue a spoken order to start a handwashing sequence that matches the Centers for Disease Control and Prevention's guidelines.
The U by Moen Sarai faucet is a great illustration of how technology and style can work together. Manually, with a wave of the hand, or with voice instructions, the faucet can be turned on and off. Homeowners can adjust presets or turn the faucet on and off using a smartphone app. Recently, Moen, like many other companies, increased the amount of types and finishes available with their touchless technology. The Sarai is one of five new touchless-enabled models available.
Commercial Sector to Boost the Market
In the coming years, the commercial category is expected to be the largest and fastest-growing. Many companies are now selling premium and luxury taps that are specifically built for business use. Moen Incorporated offers a wide range of commercial taps, including the M-Power, M-Dura, M-Press, and M-Bition. Delta Faucet Company, meanwhile, provides sophisticated commercial faucets for the hospitality industry.
Key Benefits of the Report
- This study presents the analytical depiction of the kitchen faucets industry along with the current trends and future estimations to determine the imminent investment pockets.
- The report presents information related to key drivers, restraints, and opportunities along with detailed analysis of the kitchen faucets market share.
- The current market is quantitatively analyzed to highlight the growth scenario of the kitchen faucets market.
- Porter’s five forces analysis illustrates the potency of buyers and suppliers in the market.
- The report provides a detailed kitchen faucets market analysis based on competitive intensity and how the competition will take shape in coming years
Questions answered in the Kitchen Faucets Market Research Report
- Which are the leading players active in the kitchen faucets market?
- What are the current trends that will influence the market in the next few years?
- What are the driving factors, restraints, and opportunities in the market?
- What future projections would help in taking further strategic steps?
- What is "Kitchen Faucets" Market prediction in the future?
- Which will be the niches at which players profiling with recent advancements should set a presence?
- What are the driving factors and opportunities in the market?
- What are the current trends and predicted trends?
- What are the challenges faced in the "Kitchen Faucets" Market?
Kitchen Faucets Market Report Highlights
| Aspects | Details |
 By Product Type |
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 By Material |
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 By Distribution Channel |
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 By Region |
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 Key Market Players | Moen Incorporated, Gerber Plumbing Fixtures LLC, Colston Bath, PROFLO, Franke Kitchen Systems, American Bath Group, DELTA FAUCET COMPANY, Jaquar, Kohler Co., TOTO LTD., GROHE AMERICA, Inc. |
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