Residential Faucets Market Size to Grow by USD 5.84 billion within an Expected YOY of 8.4% in 2022 – Technavio – QNT Press Release


NEW YORK, Oct. 17, 2022 /PRNewswire/ — The residential faucets market size is expected to grow by USD 5.84 billionaccelerating at a CAGR of 9.1% between 2021 and 2026. The report identifies CERA Sanitaryware Ltd, Delta Faucet Co., Fortune Brands Home and Security Inc., Kingston Brass Inc., Kohler Co., Kraus USA Inc., LIXIL Corp., LIXIL Water Technology Americas., Lowes Companies Inc., Masco Corp., Moen Inc., Oras Ltd., Spectrum Brands Holdings Inc., The Jaquar Group., Toto Ltd., Ultra Faucets, VIGO INDUSTRIES LLC., and Zurn Water Solutions Corp. among others as the dominant player in the market. The report provides a comprehensive analysis of the market size, vendor landscape, new product launches, key strategies adopted by vendors, and much more Request a free sample report.

The market is driven by product premiumization through product innovation and wide product assortment. The market for residential faucets, especially in the kitchen and bathroom segments, is gradually synchronizing with changing customer needs and aspirations, which has made vendors in the global residential faucets market consistently create innovations in fittings, including residential faucet products. Thus, product innovation and wide product assortment lead to the premiumization of products, which is responsible for driving the price quotient of the residential faucets during the forecast period.

Although product premiumization through product innovation and wide product assortment will create significant growth opportunities for vendors. However, an increase in raw material and labor costs will reduce the growth potential in the market. Metallic raw goods and components parts for manufacturing residential faucets are expensive. Hence, the cost of manufacture increases with a rise in the price of metals such as aluminum, iron, copper, or other raw materials. This affects the profit margins of manufacturers and retailers. The average cost of labor across the world is also on the rise. Owing to these factors, the increase in raw material and labor costs is expected to hinder the growth of the market in focus during the forecast period. To know more about Drivers, challenges and trends Request a free sample report.

Major Five Residential Faucets Companies:

  • CERA Sanitaryware Ltd
  • Delta Faucet Co
  • Fortune Brands Home and Security Inc
  • Kingston Brass Inc
  • Kohler Co.
  • Kraus USA Inc
  • LIXIL Corp
  • LIXIL Water Technology Americas
  • Lowes Companies Inc
  • Masco Corp.
  • Moen Inc.
  • Oras Ltd
  • Spectrum Brands Holdings Inc.
  • The Jaquar Group
  • Toto Ltd
  • Ultra-Faucets
  • VIGO INDUSTRIES LLC
  • Zurn Water Solutions Corp

Residential Faucets Market Application Outlook (Revenue, USD bn, 2021-2026)

  • Bathroom faucets – size and forecast 2021-2026
  • Kitchen faucets – size and forecast 2021-2026

The residential faucets market share growth in the bathroom faucets segment will be significant during the forecast period. In developed economies, such as the US, the UK, and Germanythe market in focus is witnessing a demand for premium products from consumers. In developing countries such as China and Indiavolume sales of residential faucets are gaining traction. Owing to these factors, the increasing demand for the bathroom faucets segment is expected to fuel the growth of the global residential faucets market during the forecast period.

Residential Faucets Market Geography Outlook (Revenue, USD bn, 2021-2026)

  • North America – size and forecast 2021-2026
  • APAC – size, and forecast 2021-2026
  • Europe – size, and forecast 2021-2026
  • Middle East and Africa – size and forecast 2021-2026
  • South America – size and forecast 2021-2026

33% of the market’s growth will originate from North America during the forecast period. The construction of residential buildings, houses, and societies has triggered the demand for home improvement and, in turn, will facilitate the residential faucets market growth in North America over the forecast period. To know more about the segment Request a free sample report.

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Residential Faucets Market Scope

Report Coverage

Details

Page number

120

Base year

2021

Forecast period

2022-2026

Growth momentum & CAGR

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