Thermostatic Faucet Market Analysis Report By Product, By End-user, By Region And Segment Forecasts From 2021 To 2028

Synopsis

The global thermostatic faucet market was appreciated by USD 7,676.42 million in 2020. It is projected to observe 5.29% CAGR from 2021 to 2028.

Drivers

The growing figure of house reformation schemes and the growth in customer expenditure are the factors, pushing demand for the thermostatic faucets.

The increasing housing division together with the demand for technically highly developed faucets as well as altering user inclinations towards lavish products is the most important things, stimulating the demand for the thermostatic faucets. Besides, the increase in the use of thermostatic faucets in hospitals is one more feature, encouraging the enlargement of the market.

Augmented stages of disposable earnings and a growth in the figure of global construction actions are, moreover, powering expansion of the thermostatic faucet market.

Effect of Covid-19

Alternatively, the pandemic has produced disturbances in the supply chain causing abridged demand for the product. Limitations on journey along with the stringent procedures of social distancing have affected customer expenditure and are expected to persist for certain period. The pandemic has given rise to the manufacturing companies and the developers for taking on the many policies to obtain stable development, during the forecast period.

End User Insight

The commercial section held the major, above 55.0% revenue share of the thermostatic faucet market, in 2020. It is likely to enlarge by the uppermost CAGR, all through the forecast period. The commercial section consists of airports, hotels, hospitals and malls.

The enhancement in plumbing products initiated in favor of the hospitals comprises simple maintenance as well as fixing. These enhancements are assisting the establishments to keep up cleanliness. For example, the company like American Standard has presented basins together with Selectronic faucets. Sensor faucets regulate the use of water and avert water stagnation.

The growth in the number of residences along with the client requirement for contemporary faucets, in the residential section is impelling the market. For example, in line with the European Union, the government of Germany has started a number of actions intended for the expansion of the housing market, within the nation. It has allotted Euro 5.0 billion beneath its housing strategy, for the erection of 100,000 leasing building blocks, during the subsequently four years.

Product Insight

The single lever product section detained the biggest, above 44.0% share of the thermostatic faucet market, in 2020. It is projected to record the maximum CAGR, throughout the forecast period. Rising demand for the single lever mixers in housing division is the input factor, directing the section. The pandemic has increased the demand for contemporary kitchen accessories because the majority populace is working from home. Moreover, the functionality offered by the single-lever mixers is one of the most important things, increasing the market requirement.

The increasing stages of customer disposable earnings have created the approach for a comfortable life style. This pushes the acceptance of superior kitchen as well as bathroom accessories, in this manner propelling demand for the thermostatic faucets.
There is an escalating requirement for the two-handle mixers because these are less pricey than the single-level mixer and are simply available. The two handle mixers comprise a spout and two taps. These faucets hold separate handles to manage the cold and hot water, which is combined by means of a solo spout. The companies are concentrating on supplying high-class products to their clients.

Such as, temp assures thermostatic valve equipment assists in checking temperature and regulate to the optimized temperature, without human intervention.

Regional Insight

North America detained the major, above 31.0% revenue share of the global thermostatic faucet market, in 2020. It is projected to develop by a stable CAGR, during the period of the forecast. The increasing requirement for kitchen as well as bathroom accessories is steering the need for the thermostatic faucets. Rising alertness about water preservation is, furthermore, stimulating the demand for thermostatic faucets, within the region.

Asia Pacific is expected to be the maximum rising market, during the forecast period. The enlargement is credited to the growth in construction actions through the commercial along with residential segments, within the region.

Companies

The companies are concentrating on increasing their business in developing nations such as Brazil and India, to increase their presence in these markets. The increasing movement of home reformation together with growing contest between major companies is the most important factors, which is taking care of the fresh market participants. A number of companies are adopting policies, for example mergers & acquisitions, like an efficient method of growing or retaining the market share.

Some of the companies for thermostatic faucet market are:

    • Masco Corp.
    • Geberit AG
    • Rocca Sanitario
    • Moen, Inc.
    • Grohe AG
    • LIXIL Corp.
    • Reliance Worldwide Corporation Ltd.
    • Jaguar Group
    • Cera Sanitaryware Ltd.
    • Kohler Co.

Report Scope

Segments Covered in the Report

This report forecasts revenue growth at global, regional, and country levels and provides an analysis of the latest industry trends in each of the sub-segments from 2016 to 2028. For the purpose of this study, Million Insights has segmented the global thermostatic faucet market report based on product, end user, and region:

• Product Outlook (Revenue, USD Million, 2016 - 2028)
    • Single Lever Mixer
    • Two Handle Mixer
    • Others

• End-user Outlook (Revenue, USD Million, 2016 - 2028)
    • Residential
    • Commercial

• Regional Outlook (Revenue, USD Million, 2016 - 2028)
    • North America
        • U.S.
        • Rest of North America
    • Europe
        • U.K.
        • Germany
    • Asia Pacific
        • Japan
        • India
    • Central & South America
        • Brazil
        • Rest of Central & South America
    • Middle East & Africa
        • South Africa
        • Rest of Middle East & Africa