The kitchen faucets global market report 2024 from The Business Research Company provides comprehensive market statistics, including global market size, regional shares, competitor market share, detailed segments, trends, and opportunities. This report offers an in-depth analysis of current and future industry scenarios, delivering a complete perspective for thriving in the industrial automation software market.
Kitchen Faucets Market, 2024 report by The Business Research Company offers comprehensive insights into the current state of the market and highlights future growth opportunities.
Market Size –
The kitchen faucets market size has grown strongly in recent years. It will grow from $8.81 billion in 2023 to $9.54 billion in 2024 at a compound annual growth rate (CAGR) of 8.3%. The growth in the historic period can be attributed to rising disposable income, e-commerce growth, government regulations, the emergence of smart faucets, and increasing demand from the residential segment.
The kitchen faucets market size is expected to see strong growth in the next few years. It will grow to $13.21 billion in 2028 at a compound annual growth rate (CAGR) of 8.5%. The growth in the forecast period can be attributed to consumer preferences, government regulations, the growing adoption of pull-out and pull-down faucets, the growth of smart homes, and increasing expenditure by manufacturers. Major trends in the forecast period include the integration of touchless operation, customizable water flow, integration with smart home systems, customization options, and smart faucet integration.
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Scope Of Kitchen Faucets Market
The Business Research Company’s reports encompass a wide range of information, including:
1. Market Size (Historic and Forecast): Analysis of the market’s historical performance and projections for future growth.
2. Drivers: Examination of the key factors propelling market growth.
3. Trends: Identification of emerging trends and patterns shaping the market landscape.
4. Key Segments: Breakdown of the market into its primary segments and their respective performance.
5. Focus Regions and Geographies: Insight into the most critical regions and geographical areas influencing the market.
6. Macro Economic Factors: Assessment of broader economic elements impacting the market.
Kitchen Faucets Market Overview
Market Drivers –
The increasing number of households is expected to propel the growth of the kitchen faucets market going forward. Households refer to individuals or groups of people living together in a single dwelling and sharing common living arrangements, such as families, single individuals, or roommates. The number of households is increasing due to sustained population growth, which drives demand for residential spaces, and urbanization, as more people migrate to cities in search of employment and better living conditions. Kitchen faucets are essential for households, providing convenient access to water for cooking, dishwashing, and cleaning tasks. For instance, in June 2024, according to the Australian Bureau of Statistics, an Australia-based government agency, by 2046, it is projected that Australia will have between 13.3 million and 13.9 million households, up from 10.0 million in 2021. Therefore, the increasing number of households is driving the growth of the kitchen faucets market.
Market Trends –
Major companies operating in the kitchen faucet market are focusing on developing next-generation innovative solutions, such as touchless faucet technologies, to meet evolving consumer preferences for hygiene and ease of use. Touchless faucet technologies refer to innovative solutions where faucets are equipped with sensors that detect motion or presence, allowing users to turn the water on and off without needing to touch the faucet handle. For instance, in December 2023, Delta Faucet Company, a US-based company that specializes in the manufacture of plumbing fixtures and plumbing materials, launched its new Touch2O with Touchless Technology, which allows users to turn the faucet on and off with just a light touch or by placing their hand near the faucet. This innovative feature provides a convenient and hygienic solution for kitchen and bathroom faucets, reducing the spread of germs and bacteria by minimizing direct contact with the faucet handle.
The kitchen faucets market covered in this report is segmented –
1) By Type: Pull Out Faucets, Pull Down Faucets, Single Hand Faucets, Dual-Handle Faucets, Separate Spray Faucets, Pot Filler Faucets, Motion Detection Faucets, Other Types
2) By Material Type: Chrome, Stainless Steel, Bronze, Plastic, Other Materials
3) By Installation Type: Wall Mount, Deck Mount
4) By Distribution Channel: Online, Offline
5) By End-Use: Residential, Commercial
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Regional Insights –
North America was the largest region in the kitchen faucets market in 2023. Asia-Pacific is expected to be the fastest-growing region in the forecast period. The regions covered in the kitchen faucets market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa.
Key Companies –
Major companies operating in the kitchen faucets market are Lixil Group Corporation, Kohler Co., Toto Ltd., American Standard Brands, Grohe AG, Moen Incorporated, Hansgrohe SE, Villeroy & Boch AG, Masco Corporation, Elkay Manufacturing Company, Delta Faucet Company, Globe Union Industrial Corp., Pfister, Dornbracht GmbH & Co. KG, Chicago Faucets, House of Rohl, GESSI S.p.A., Kludi GmbH & Co. KG, VIGO Industries LLC, Matco-Norca, Roca Sanitario S.A., La Toscana, INAX Corporation, Waterstone Faucets
Table of Contents
1. Executive Summary
2. Kitchen Faucets Market Report Structure
3. Kitchen Faucets Market Trends And Strategies
4. Kitchen Faucets Market – Macro Economic Scenario
5. Kitchen Faucets Market Size And Growth
…..
27. Kitchen Faucets Market Competitor Landscape And Company Profiles
28. Key Mergers And Acquisitions
29. Future Outlook and Potential Analysis
30. Appendix
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