Allied Market Research
Loading...
Cart
0

Electric Taps Market Expected to Reach $631.0 Million by 2027

 

Report Code : A06212

quote The growth of the global electric taps market in majorly driven by increase in awareness for conservation of water and electricity bills in the long term aspect. By product, the touchless taps segment dominated the global electric taps market growth in 2019. Moreover, on the basis of end-use industry, the commercial segment dominated the market in 2019 and is expected to continue this trend during the forecast period. In addition, depending on mounting type, the deck-mounting segment dominated the electric taps market. quote

Rohit Sawant
Industry Analyst, Construction & Manufacturing at Allied Market Research

Get 20% Free Customization In This Report
Follow us on Social Media:       
 

According to a recent report published by Allied Market Research, titled, “Electric Taps Market by Product, End-use Industry and Mounting Type: Opportunity Analysis and Industry Forecast, 2020–2027,” the global electric taps market size accounted for $310.0 million in 2019, and is expected to reach $631.0 million by 2027, registering a CAGR of 12.0% from 2020 to 2027. In 2019, Asia-Pacific dominated the global electric taps market, accounting for around 37.5% share of the global electric taps industry, followed by LAMEA

Electric taps refer to electrically operated taps that either automatically turn ON and OFF using a sensor to detect the movement in its range or instantly heat the water flowing through it. The touchless taps have a sensor installed that senses the movement of hands under the nozzle and sends signals to the operating system, which than turns ON the flow of the water. When the hands are withdrawn a similar signal is sent to stop the flow of the water. Further, instant heating taps are similar to water heating geyser that cannot store water in its tank; however the application of heating the water and basic working principle is similar. The coil inside the heater instantly heats the water flowing through the tap to the preset temperature. The instant water heating taps have provision to change the temperature of the water at which it is to be heated. 

The touchless taps help in water conservation by letting the water flow only when needed. On the other hand, instant water heating taps save energy by only heating the water that is actually required unlike that of heating the entire water that is stored in geyser tank. In addition, these products enhance the aesthetics of the bathrooms and kitchens with their superior designs. 

However, the products have high cost of production considering the technology and quality of spares used for its operation. The high investment cost acts as the major restraint for the electric taps market.

Moreover, the outbreak of COVID-19 pandemic has negatively impacted the market. To prevent the spread of the virus, governments across various countries have implemented lockdown. Thus, construction and production activities were partially or completely closed due to the lockdown. This affected the electric taps industry as well as led to the disruption of the supply chain. On the contrary, there has been rise in demand of installation of touchless taps in public washroom, especially in commercial infrastructures. This is to avoid public contact in the washrooms and to minimize the spread of COVID-19. In addition,
reopening of production facilities gradually is anticipated to re-initiate the production of electric taps at their full-scale capacities.

On the contrary, customers are opting for smart products in their bathrooms that can be operated on artificial intelligence. These products also suit well in green building scope. Therefore these advantages will boost the electric taps market during the forecast period.

The report analyzes the global electric taps market by product, end-use industry, mounting type and region. On the basis of product, the market is divided into touchless taps and instant heating taps. Depending on end-use industry, it is classified into residential and commercial. By mounting type, it is segregated into wall-mounted and deck-mounted.

Region wise, the electric taps market analysis is conducted across North America (the U.S., Canada, and Mexico), Europe (Germany, France, the UK, Italy, and rest of Europe), Asia-Pacific (China, Japan, India, South Korea, and rest of Asia-Pacific), and LAMEA (Latin America, the Middle East, and Africa).

Key Findings Of The Study

  • By product, the touchless taps segment was the highest revenue contributor in 2019.
  • By end-use industry, the commercial segment generated the highest revenue in 2019.
  • By mounting type, the deck-mounted segment led the market in 2019.
  • Region wise, Asia-Pacific garnered the largest electric taps market share in 2019.

The major players profiled in the market of electric taps include Cera Sanitaryware Limited, Fortune Brands Home & Security, Inc. (Moen), Jaquar, Kohler Co., LIXIL Group Corporation, Masco Corporation (Delta Faucet Company), Taizhou Hengyida Plastic Plumbing Factory (Zhenhao), TOTO Ltd., Wenzhou Bomei Sanitary Ware Co., Ltd. and Xiaomi Corporation. 

Need More Information

pr-det-talk Talk to David (Europe)

pr-det-talk Talk to Sona Padman (Americas)

5933 NE Win Sivers Drive #205,
Portland, OR 97220 United States

pr-det-phone Toll Free: +1-800-792-5285

pr-det-phone UK: +44-845-528-1300

pr-det-phone Hong Kong: +852-301-84916

pr-det-phone India (Pune): +91 2066346060

pr-det-phone Fax: +1(855) 550-5975

pr-det-phone help@alliedmarketresearch.com

 

For Media Inquiries, Please Contact

Ram D
Communications Officer
Allied Market Research
Contact Toll Free: +1-800-792-5285
Drop us an email at
media@alliedmarketresearch.com

 
 

First time buyer?
Check offers and discount on this report
To get this report

 
Click Here
 
 

quote Electric Taps Market by Product (Touchless Taps and Instant Heating Taps), End-use Industry (Residential and Commercial) and Mounting Type (Wall-Mounted and Deck-Mounted): Global Opportunity Analysis and Industry Forecast, 2020–2027 quote

View Report
 
 
Avenue Video Loading...

Avenue: Entire Library membership of Allied Market Research Reports at your disposal

  • Avenue is an innovative subscription-based online report database.
  • Avail an online access to the entire library of syndicated reports on more than 2,000 niche industries and company profiles on more than 12,000 firms across 11 domains.
  • A cost-effective model tailored for entrepreneurs, investors, and students & researchers at universities.
  • Request customizations, suggest new reports, and avail analyst support as per your requirements.
  • Get an access to the library of reports at any time from any device and anywhere.

 
 

Why Allied Market Research?

Infallible Methodology

To ensure high-level data integrity, accurate analysis, and impeccable forecasts

Analyst Support

For complete satisfaction

Customization

On-demand customization of scope of the report to exactly meet your needs

Targeted Market View

Targeted market view to provide pertinent information and save time of readers

 

Featured Readings

 
 

Get Fresh content delivered

Get insights on topics that matter to your business. Stay updated on the area that interests you.

 
Get Industry Data Alerts
 

Buy Full Version
"Electric Taps Market"
Purchase Enquiry