Authored By: Sarah
11 Jul 2024

 Residential Faucets Market Size to grow by USD 5108.3 million between 2024-2028

According to a research report “ Residential Faucets Market” by Application (Bathroom faucets, Kitchen faucets) Geography (North America, APAC, Europe, Middle East and Africa, South America)- Global Forecast to 2028 published by Technavio, the market size is estimated to grow by USD 5108.3 million, at a CAGR of  8.12% during the forecast period. In the highly competitive global residential faucets market, vendors have responded by enhancing their innovation and product offerings. For instance, Masco, a leading player, operates multiple brands including AXOR, Delta Faucet, Ginger, Bristan Group, Newport Brass, Peerless, Mirolin Industries, Hot Spring, and Hansgrohe International. This strategy increases brand visibility and provides a diverse product assortment, thereby expanding the customer base and fostering repeat business. Additionally, the expanded product range enables vendors to implement strategic pricing approaches.

Browse market data tables, figures, and in-depth TOC on “Residential Faucets Market” by Application (Bathroom faucets, Kitchen faucets) Geography (North America, APAC, Europe, Middle East and Africa, South America) Global Forecast to 2028. Download Free Sample

 

By Application, the Bathroom faucets segment is projected to dominate the market size in 2024

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By Geography, North America  segment is expected to hold the largest market size for the year 2024

In the realm of residential fixtures, bathroom faucets represent a significant segment, encompassing sink faucets, tub faucets, and shower faucets. These faucets cater to diverse design aesthetics and functional requirements. Vendors present extensive collections of full bathroom suites, available in modern, traditional, and transitional styles, ensuring compatibility with various home decor schemes. Bathroom faucets are manufactured using premium materials, including brass, copper, titanium, and platinum, and are predominantly wall-mounted. Operational configurations vary, with options such as single handle, knobs, cross handle, and motion sensors. The Environmental Protection Agency (EPA) certifies these faucets to adhere to stringent performance criteria.

North America is forecasted to hold the largest market size by region in 2024

The Residential Faucets Market represents a significant business opportunity, driven by growing demand for water efficiency and design aesthetics. Manufacturers focus on innovation, with offerings that include touchless and sensor technologies, as well as diverse design options. Market growth is further fueled by increasing home renovation activities and consumer preference for premium faucet brands. Overall, this market is poised for steady expansion in the coming years.

The Residential Faucets Market growth and forecasting report also includes detailed analyses of the competitive landscape of the market growth and forecasting and information about 20 market companies, including:

  • CERA Sanitaryware Ltd.
  • Delta Faucet Co
  • Fortune Brands Innovations Inc.
  • Kingston Brass Inc
  • Kohler Co.
  • Kraus USA Inc.
  • LIXIL Corp.
  • LIXIL Water Technology Americas
  • Lowes Co. Inc.
  • Masco Corp.
  • Moen Inc.
  • Oras Ltd.
  • Spectrum Brands Holdings Inc.
  • Jaquar India
  • Toto Ltd.
  • Ultra Faucets
  • VIGO INDUSTRIES LLC
  • Zurn Elkay Water Solutions Corp.
.

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Research Analysis Overview

The Residential Faucets Market is witnessing significant growth due to the increasing demand for advanced and technologically innovative faucets. Die-cast zinc, steel, and brass are popular materials used in the production of residential faucets due to their durability and aesthetics. The intake source of water for these faucets can be from various sources, including city water and well water. A key component of residential faucets is the aerator, which mixes water and air to create a steady stream. Other essential parts include the mixing chamber, spout, cartridge, handle, and metal components. Smart functionalities such as advanced motion sensors, voice-activated technology, and touchless technology are gaining popularity in the market for their hygiene benefits and financial savings. Urbanization and the construction sector are major industry applications driving the growth of the residential faucets market. Water conservation is a significant concern, and the market is responding with water-saving technologies such as low-flow aerators and sensor-based controls. Touchless faucets are a popular choice for their hygienic benefits and water conservation capabilities. The market is also focusing on sensor-based controls and smart functionalities to enhance the user experience and promote water conservation.

Market Research Overview

The Residential Faucets Market is witnessing significant growth due to the increasing demand for technologically advanced and eco-friendly faucets in various industries such as Hotel business, Hospitals, Restaurants, and Trains. The plumbing sector is embracing hands-free technology with open arms, with hands-free faucets becoming increasingly popular in both the kitchen and bathroom segments. Eco-friendly kitchen faucets with water-saving mechanisms and temperature gauges are gaining traction among consumers, driven by rising awareness of environmental benefits and financial savings. Smart home technology is also influencing consumer spending on sanitary goods, with touch sensors and motion sensors becoming standard features in modern faucets. The Millennials and technologically aware customers are leading the trend towards smart faucets, which offer advanced functionalities like voice-activated technology, smartphone control, filtration systems, and water usage data. The Renovation trend in residential properties is also driving demand for aesthetically appealing faucets made of materials like chrome-plated plastic, die-cast zinc, steel, and brass. However, the market is not without challenges, with counterfeit copies and low-quality faucets posing a threat to reputable brands. Consumers are increasingly demanding higher-quality options that offer durability, corrosion resistance, and a good finish. The plumbing fittings industry is responding by offering customized faucet designs and smart functionalities to meet the evolving needs of homeowners. Geographical trends indicate that urbanization and rising expenditure capacities are driving demand for water-saving fixtures and advanced plumbing systems in Asia Pacific and Latin America. The construction sector is also investing heavily in hygiene standards, leading to increased demand for sensor-based faucets and antimicrobial coatings to prevent cross-contamination of viruses and bacteria. Overall, the Residential Faucets Market is poised for continued growth, driven by consumer demand for advanced functionalities, eco-friendly features, and aesthetic appeal.

Contacts

Technavio Research
Jesse Maida
Media & Marketing Executive
US: +1 844 364 1100
UK: +44 203 893 3200
Email: media@technavio.com
Website: www.technavio.com/

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