USD 6 billion
Global Kitchen Faucets Market Size, Share, Growth Analysis, By Technology(Smart faucets with sensors and water-saving), By Type(Single-handle, double-handle) - Industry Forecast 2024-2031
Report ID:
SQMIG15J2052 |
Region:
Global |
Published Date: March, 2024
Pages:
184
|
Tables:
62 |
Figures:
75
Global Kitchen Faucets Market Insights
Global Kitchen faucets market size was valued at USD 6 billion in 2022 and is poised to grow from USD 6.57 billion in 2023 to USD 13.58 billion by 2031, at a CAGR of 9.5% during the forecast period (2024- 2031).
The global kitchen faucets market continues to witness steady growth due to factors such as urbanization, renovation trends, and increasing awareness of water conservation.
Consumers are seeking stylish and technologically advanced faucets that offer both aesthetic appeal and efficiency.
Touchless and smart faucets, equipped with sensors and water-saving features, are gaining traction.
Kitchen faucets were not only seen as functional items but also as design elements that contribute to the overall aesthetics of the kitchen.
Unique and stylish faucet designs were gaining popularity, with a focus on matching faucets to kitchen decor and architectural styles. Matte finishes, industrial-inspired designs, and minimalist aesthetics were some of the design trends that were emerging in the market.
Customization options, such as various finish choices and handle designs, were being offered to cater to diverse consumer preferences.
Furthermore, sustainable materials and finishes are becoming more popular to align with eco-conscious preferences.
Market players are focusing on innovation, sustainability, and consumer preferences to maintain a competitive edge in this evolving market landscape.
North America, Europe, and Asia-Pacific remain key regions driving market expansion.
US Kitchen Faucets Market is poised to grow at a sustainable CAGR for the next forecast year.
Market snapshot - 2024-2031
Global Market Size
Largest Segment
pull-out faucets
Fastest Growth
pull-out faucets
Growth Rate
9.5% CAGR
Global Kitchen faucets market by region
Country Share for North America (%)
Global Kitchen faucets market by type
Global Kitchen faucets market by type
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Global Kitchen Faucets Market Segmental Analysis
The global kitchen faucets market can be segmented based on type, technology, and region. In terms of type, it includes single-handle, double-handle, touchless, and pull-out faucets. Technological differentiators involve smart faucets with sensors and water-saving features. Geographically, the market can be divided into North America, Europe, Asia Pacific, and the rest of the world.
Kitchen Faucets Market Analysis By Technology
Manual faucets are likely to still make up a significant portion of the market, especially in regions where technology adoption is slower or where budget constraints are a concern.
Touchless or sensor-activated faucets were one of the fastest-growing segments due to their convenience and hygiene benefits even before 2021. The trend toward smart homes and increased awareness of hygiene practices likely contributed to their growth.
Kitchen Faucets Market Analysis By Type
Pull-down/pull-out faucets were gaining popularity due to their versatile functionality and modern design. Touchless faucets were also experiencing growth, driven by increased emphasis on hygiene and convenience.
Commercial-style faucets were becoming a favorite among homeowners who desired a professional-grade look and functionality in their kitchens. Additionally, eco-friendly faucets equipped with water-saving features were gaining traction as environmental concerns became more prominent.
Global Kitchen faucets market by type, 2023 (%)
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Global Kitchen Faucets Market Regional Insights
North America has a significant demand for kitchen faucets due to the well-developed housing and renovation markets. The United States and Canada are the largest contributors to this market segment.
European countries also have a substantial market for kitchen faucets due to their established housing infrastructure and a focus on interior design and home improvement. Countries in the Asia-Pacific region, such as China, India, Japan, and South Korea, have seen rapid urbanization and economic growth. This has led to increased demand for modern kitchen fixtures, including faucets.
Global Kitchen faucets market by geography, 2024-2031
- Largest
- Fastest
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Global Kitchen Faucets Market Dynamics
Kitchen Faucets Market Drivers
Rising Renovation and Remodeling Activities
- The global trend of home renovation and remodeling, driven by increasing disposable incomes and changing consumer preferences, has been a significant driver for the kitchen faucets market . As homeowners seek to update and modernize their kitchens, they often replace old faucets with newer, more stylish, and technologically advanced models.
Technological Advancements
- The integration of technology into kitchen faucets, such as touchless or motion-sensor faucets, water-saving features, and smart connectivity, has fueled market growth. These innovations offer convenience, hygiene benefits, and water conservation, appealing to both residential and commercial customers.
Kitchen Faucets Market Restraints
High Initial Costs
- The cost of high-quality kitchen faucets with advanced features and designs can be relatively high. This cost can deter price-sensitive consumers from purchasing these faucets, especially in regions where disposable incomes are lower or economic uncertainty prevails.
Market Saturation
- In mature markets, such as North America and parts of Europe, the kitchen faucets market might experience saturation. This means that most households already have functional faucets, and the demand for new installations might slow down, impacting market growth. However, innovation in terms of design and features can counteract this restraint.
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Global Kitchen Faucets Market Competitive Landscape
The global kitchen faucets market features intense competition among key players striving to innovate in design, functionality, and sustainability. Prominent manufacturers like Delta Faucet, Moen, Kohler, Grohe, and American Standard are driving the market with their diverse product portfolios, focusing on touchless technology, water conservation, and user-friendly features. Market players are engaged in strategic collaborations, product launches, and mergers to expand their market share. Consumer preferences for aesthetic appeal, durability, and eco-friendliness are influencing market trends. Additionally, the rise of e-commerce platforms has further intensified the competitive landscape by providing consumers with easy access to a wide range of options from both established brands and emerging players.
Kitchen Faucets Market Top Player’s Company Profiles
- Moen - United States
- Delta Faucet - United States
- Kohler - United States
- Grohe - Germany
- American Standard - United States
- Hansgrohe - Germany
- TOTO - Japan
- Pfister - United States
- Vigo Industries - United States
- Franke - Switzerland
- Brizo - United States
- Rohl - United States
- Blanco - Germany
- Elkay - United States
- Houzer - South Korea
- Kraus - United States
- Danze - United States
- KWC - Switzerland
- Aquabrass - Canada
- Jaclo - United States
Kitchen Faucets Market Recent Developments
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In February 2024, the Kitchen and Bath Industry Show (KBIS) started with an extraordinary exhibit in Las Vegas. As the world's largest professional kitchen and restroom industry exhibition, KBIS has a history marked by sixty years and draws global consideration every year. It serves not just as a stage for the launch of new products in the kitchen and washroom industry yet in addition as an innovator in trends and innovation.
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In February 2024, Kohler, a worldwide leader in kitchen and bath design, launched Cairn® Kitchen Sinks in India. This strategic move denotes Kohler's entrance into the dynamic Indian kitchen sinks market, building up its innovation and excellence in both bath space and kitchen arrangements. The sinks are ready to rethink the kitchen experience for knowing Indian purchasers, offering an agreeable mix of unparalleled magnificence with unshakable sturdiness.
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In January 2024, as per Retail India News, RAK Ceramics assumed a vital part in the architectural triumph of Ayodhya's Ram Mandir.
Global Kitchen Faucets Key Market Trends
- Smart and Innovative Features: The kitchen faucets market was experiencing a growing demand for smart and innovative features. These features include touchless technology, motion sensors, voice activation, and app-controlled functionalities. Consumers were increasingly interested in faucets that offered convenience and hygiene, allowing them to control water flow without touching the faucet handles. Integration with smart home systems was also becoming more common, enabling users to control their faucets remotely through their smartphones or smart speakers.
- Sustainability and Water Efficiency: With increasing concerns about environmental sustainability and water conservation, there was a noticeable trend toward water-efficient faucets. Manufacturers were designing and promoting faucets with features like low-flow aerators and sensors that control water usage, reducing water wastage while maintaining efficient functionality. Water efficiency certifications and labels, such as the EPA's WaterSense label, were also influencing consumer choices, driving the adoption of eco-friendly faucet options.
Global Kitchen Faucets Market SkyQuest Analysis
SkyQuest’s ABIRAW (Advanced Business Intelligence, Research & Analysis Wing) is our Business Information Product types team that Collects, Collates, Co-relates, and Analyses the Data collected by means of Primary Exploratory Research backed by robust Secondary Desk research.
According to our analysis, the global next-generation cancer diagnostics market holds promising future prospects as advanced technologies like liquid biopsies, genomic profiling, and AI-driven analysis continue to transform cancer detection. These innovations enable earlier and more accurate diagnosis, personalized treatment strategies, and monitoring of treatment effectiveness. The market is expected to experience substantial growth due to increasing cancer incidence, rising demand for non-invasive diagnostic methods, and ongoing research collaborations between biotech companies and research institutions. However, challenges like regulatory hurdles and data privacy concerns must be addressed to fully realize the potential of these advancements in reshaping the landscape of cancer diagnostics.
| Report Metric | Details |
|---|---|
| Market size value in 2023 | USD 6 billion |
| Market size value in 2031 | USD 13.58 billion |
| Growth Rate | 9.5% |
| Forecast period | 2024-2031 |
| Forecast Unit (Value) | USD Billion |
| Segments covered |
|
| Regions covered | North America (US, Canada), Europe (Germany, France, United Kingdom, Italy, Spain, Rest of Europe), Asia Pacific (China, India, Japan, Rest of Asia-Pacific), Latin America (Brazil, Rest of Latin America), Middle East & Africa (South Africa, GCC Countries, Rest of MEA) |
| Companies covered |
|
| Customization scope | Free report customization with purchase. Customization includes:-
|
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Table Of Content
Executive Summary
Market overview
- Exhibit: Executive Summary – Chart on Market Overview
- Exhibit: Executive Summary – Data Table on Market Overview
- Exhibit: Executive Summary – Chart on Global Kitchen Faucets Market Characteristics
- Exhibit: Executive Summary – Chart on Market by Geography
- Exhibit: Executive Summary – Chart on Market Segmentation
- Exhibit: Executive Summary – Chart on Incremental Growth
- Exhibit: Executive Summary – Data Table on Incremental Growth
- Exhibit: Executive Summary – Chart on Vendor Market Positioning
Parent Market Analysis
Market overview
Market size
- Market Dynamics
- Exhibit: Impact analysis of DROC, 2021
- Drivers
- Opportunities
- Restraints
- Challenges
- Exhibit: Impact analysis of DROC, 2021
- SWOT Analysis
KEY MARKET INSIGHTS
- Technology Analysis
- (Exhibit: Data Table: Name of technology and details)
- Pricing Analysis
- (Exhibit: Data Table: Name of technology and pricing details)
- Supply Chain Analysis
- (Exhibit: Detailed Supply Chain Presentation)
- Value Chain Analysis
- (Exhibit: Detailed Value Chain Presentation)
- Ecosystem Of the Market
- Exhibit: Parent Market Ecosystem Market Analysis
- Exhibit: Market Characteristics of Parent Market
- IP Analysis
- (Exhibit: Data Table: Name of product/technology, patents filed, inventor/company name, acquiring firm)
- Trade Analysis
- (Exhibit: Data Table: Import and Export data details)
- Startup Analysis
- (Exhibit: Data Table: Emerging startups details)
- Raw Material Analysis
- (Exhibit: Data Table: Mapping of key raw materials)
- Innovation Matrix
- (Exhibit: Positioning Matrix: Mapping of new and existing technologies)
- Pipeline product Analysis
- (Exhibit: Data Table: Name of companies and pipeline products, regional mapping)
- Macroeconomic Indicators
COVID IMPACT
- Introduction
- Impact On Economy—scenario Assessment
- Exhibit: Data on GDP - Year-over-year growth 2016-2022 (%)
- Revised Market Size
- Exhibit: Data Table on Global Kitchen Faucets Market size and forecast 2021-2027 ($ million)
- Impact Of COVID On Key Segments
- Exhibit: Data Table on Segment Market size and forecast 2021-2027 ($ million)
- COVID Strategies By Company
- Exhibit: Analysis on key strategies adopted by companies
MARKET DYNAMICS & OUTLOOK
- Market Dynamics
- Exhibit: Impact analysis of DROC, 2021
- Drivers
- Opportunities
- Restraints
- Challenges
- Exhibit: Impact analysis of DROC, 2021
- Regulatory Landscape
- Exhibit: Data Table on regulation from different region
- SWOT Analysis
- Porters Analysis
- Competitive rivalry
- Exhibit: Competitive rivalry Impact of key factors, 2021
- Threat of substitute products
- Exhibit: Threat of Substitute Products Impact of key factors, 2021
- Bargaining power of buyers
- Exhibit: buyers bargaining power Impact of key factors, 2021
- Threat of new entrants
- Exhibit: Threat of new entrants Impact of key factors, 2021
- Bargaining power of suppliers
- Exhibit: Threat of suppliers bargaining power Impact of key factors, 2021
- Competitive rivalry
- Skyquest special insights on future disruptions
- Political Impact
- Economic impact
- Social Impact
- Technical Impact
- Environmental Impact
- Legal Impact
Market Size by Region
- Chart on Market share by geography 2021-2027 (%)
- Data Table on Market share by geography 2021-2027(%)
- North America
- Chart on Market share by country 2021-2027 (%)
- Data Table on Market share by country 2021-2027(%)
- USA
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Canada
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Europe
- Chart on Market share by country 2021-2027 (%)
- Data Table on Market share by country 2021-2027(%)
- Germany
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Spain
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- France
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- UK
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Rest of Europe
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Asia Pacific
- Chart on Market share by country 2021-2027 (%)
- Data Table on Market share by country 2021-2027(%)
- China
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- India
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Japan
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- South Korea
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Rest of Asia Pacific
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Latin America
- Chart on Market share by country 2021-2027 (%)
- Data Table on Market share by country 2021-2027(%)
- Brazil
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Rest of South America
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Middle East & Africa (MEA)
- Chart on Market share by country 2021-2027 (%)
- Data Table on Market share by country 2021-2027(%)
- GCC Countries
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- South Africa
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Rest of MEA
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
KEY COMPANY PROFILES
- Competitive Landscape
- Total number of companies covered
- Exhibit: companies covered in the report, 2021
- Top companies market positioning
- Exhibit: company positioning matrix, 2021
- Top companies market Share
- Exhibit: Pie chart analysis on company market share, 2021(%)
- Total number of companies covered
Methodology
For the Global Kitchen Faucets Market, our research methodology involved a mixture of primary and secondary data sources. Key steps involved in the research process are listed below:
1. Information Procurement: This stage involved the procurement of Market data or related information via primary and secondary sources. The various secondary sources used included various company websites, annual reports, trade databases, and paid databases such as Hoover's, Bloomberg Business, Factiva, and Avention. Our team did 45 primary interactions Globally which included several stakeholders such as manufacturers, customers, key opinion leaders, etc. Overall, information procurement was one of the most extensive stages in our research process.
2. Information Analysis: This step involved triangulation of data through bottom-up and top-down approaches to estimate and validate the total size and future estimate of the Global Kitchen Faucets Market.
3. Report Formulation: The final step entailed the placement of data points in appropriate Market spaces in an attempt to deduce viable conclusions.
4. Validation & Publishing: Validation is the most important step in the process. Validation & re-validation via an intricately designed process helped us finalize data points to be used for final calculations. The final Market estimates and forecasts were then aligned and sent to our panel of industry experts for validation of data. Once the validation was done the report was sent to our Quality Assurance team to ensure adherence to style guides, consistency & design.
Analyst Support
Customization Options
With the given market data, our dedicated team of analysts can offer you the following customization options are available for the Global Kitchen Faucets Market:
Product Analysis: Product matrix, which offers a detailed comparison of the product portfolio of companies.
Regional Analysis: Further analysis of the Global Kitchen Faucets Market for additional countries.
Competitive Analysis: Detailed analysis and profiling of additional Market players & comparative analysis of competitive products.
Go to Market Strategy: Find the high-growth channels to invest your marketing efforts and increase your customer base.
Innovation Mapping: Identify racial solutions and innovation, connected to deep ecosystems of innovators, start-ups, academics, and strategic partners.
Category Intelligence: Customized intelligence that is relevant to their supply Markets will enable them to make smarter sourcing decisions and improve their category management.
Public Company Transcript Analysis: To improve the investment performance by generating new alpha and making better-informed decisions.
Social Media Listening: To analyze the conversations and trends happening not just around your brand, but around your industry as a whole, and use those insights to make better Marketing decisions.
Global Kitchen Faucets Market Report Snapshots
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