The global residential faucets market is anticipated to grow at a CAGR of 4.5% during the forecast period (2022-2028). A faucet is a device for delivering water from a plumbing system. It can consist of components such as spout, handles, lift rod, cartridge, aerator, mixing chamber, and water inlets. The valve opens and controls the water flow adjustment under any water temperature condition when the handle is turned on. Residential faucets are those which are used in buildings except those owned by the government or companies.
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The growing awareness of saving water and an increase in preferences for luxury faucets in residential applications are some factors driving the growth of the global residential faucets market. Additionally, the availability of advanced faucets such as the development of touch-free, digital and hybrid smart faucets that are equipped with efficiency sensors and temperature gauges accelerates the growth of the market. For instance, the Franke 3-in-1 faucet offered by Franke Kitchen Systems is designed to provide hot, cold, and distilled water to ensure the usage of pure and appropriate temperatures for various kitchen purposes.
The market is segmented based on the type and application. Based on the type, the market is segmented into one-hand mixers, two-hand mixers, and pillars. One-hand mixers are one piece of faucets that contains handles and spout in a single unit without any extra assembly. One-hand mixer faucets are available in both volume and temperature controls. Two-hand mixers faucets are high-end faucets with two separate handles, one for cold and the other for hot water. They come with features such as a smooth touch button that supports the user to operate it easily. Pillars faucets have a single handle that is placed at the center of the spout. These faucets are durable through stainless steel construction and can be easily installed.
Some major players in the market include LIXIL Corp, Masco Corp., and Spectrum Brands Inc., among others. The market players are contributing significantly to the growth of the market by the adoption of various strategies including mergers and acquisitions, geographical expansion, partnerships, new product launches, and collaborations, to stay competitive in the market. For instance, in March 2022, Blanco introduced new productive accessories and faucet finishes. They have also expanded their metal faucet finish with bold black and luxurious Satin Gold. Additionally, in January 2022, Moen Inc. revealed its smart faucet. The new feature has a completely hands-free operation, using gestures to control the temperature as well as flow.
Market Coverage
- The market number available for – 2021-2028
- Base year- 2021
- Forecast period- 2022-2028
- Segment Covered-
- By Type
- By Application
- Regions Covered-
- North America
- Europe
- Asia-Pacific
- Rest of the World
- Competitive Landscape- LIXIL Corp, Masco Corp., and Spectrum Brands Inc., among others.
Key questions addressed by the report
- What is the market growth rate?
- Which segment and region dominate the market in the base year?
- Which segment and region will project the fastest growth in the market?
- How has COVID-19 impacted the market?
- Deviation from the pre-COVID-19 forecast
- Most affected region and segment
- Who is the leader in the market?
- How players are addressing challenges to sustain growth?
- Where is the investment opportunity?
Global Residential Faucets Market Report by Segment
By Type
- One-Hand Mixers
- Two-Hand Mixers
- Pillars
By Application
- Bathroom Faucets
- Kitchen Faucets
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