Table of Contents
Historical Data, Premium Insights, Market Dynamic, Analysis and Projection, By Product, Analysis and Projection, By Application, Analysis and Projection, By End-Use, Analysis and Projection, By Regional Analysis, Competitive Landscape, Company Profiles, Market Revenue, Sale & Price Analysis
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According to a research report published by Spherical Insights & Consulting, The Global Thermostatic Faucet Market Size is Estimated to Grow from USD 8.72 Billion in 2023 to USD 14.70 Billion by 2033, Growing at a CAGR of 5.36% during the forecast period 2023-2033.
Browse key industry insights spread across 215 pages with 110 Market data tables and figures & charts from the report on the Global Thermostatic Faucet Market Size, Share, and COVID-19 Impact Analysis, By Product (Single Lever Mixers, Two Handle Mixer, and Others), By End-Use (Commercial and Residential), and By Region (North America, Europe, Asia-Pacific, Latin America, Middle East, and Africa), Analysis and Forecast 2023 – 2033.
The market for faucets that automatically mix hot and cold water to change the water's temperature is known as the thermostatic faucet market. The sales of thermostatic faucets are anticipated to benefit from the strong development in residential construction. The market for thermostatic faucets is growing as a result of increased demand for condominiums and a greater need for contemporary faucets and upscale plumbing systems. Another key reason propelling the growth of the thermostatic faucets market is the growing use of smart thermostatic faucets in commercial settings, including hotels, hospitals, corporate offices, beauty and spa centers, and other commercial facilities. In addition, the growing popularity of thermostatic faucets due to their many advantages is driving market expansion. The thermostatic faucets market has the potential to expand as a result of manufacturers' cooperation with architects, designers, and contractors by providing creative faucets and advertising their products online. However, the high cost of technology and the supply chain disruption brought on by the pandemic are the two main obstacles facing the worldwide thermostatic faucets industry.
The single lever mixers segment held the largest share of 44.10% in 2023 and is estimated to grow at a CAGR of 3.70% throughout the projection period.
Based on the product, the global thermostatic faucet market is categorized into single-lever mixers, two-handle mixers, and others. Among these, the single lever mixers segment held the largest share of 44.10% in 2023 and is estimated to grow at a CAGR of 3.70% throughout the projection period. The market for single-lever thermostatic faucets is growing as a result of consumers' desire for a lavish lifestyle brought about by increased disposable income levels. This trend also encourages the use of sophisticated kitchen and bathroom accessories.
The residential segment anticipated the largest market share in 2023 and is expected to grow at a CAGR of 4.19% throughout the projection period.
Based on the end-user, the global thermostatic faucet market is classified into commercial and residential. Among these, the residential segment anticipated the largest market share in 2023 and is expected to grow at a CAGR of 4.19% throughout the projection period. This is mostly due to the growing number of new homes being built in emerging nations like India and the ongoing expansion of housing options in metropolitan regions across the globe. This market is expected to increase as a result of the introduction of newly designed collections of kitchen and bathroom products as well as the use of products in kitchen and bathroom fixtures.
North America is expected to hold the largest share of the global thermostatic faucet market through the forecast period.
North America is expected to hold the largest share of the global thermostatic faucet market through the forecast period. Growing housing needs in nations such as the U.S., Canada, and others, as well as increased migration to urbanized areas, are the primary drivers of this market's growth. It is anticipated that government programs like "Building Canada We Want in 2050" and others will support the expansion of the region's construction industry and thermostatic faucet manufacturing sector.
Asia Pacific is predicted to grow at the fastest CAGR of the global thermostatic faucet market over the forecast period. This can be determined by an increase in the number of new home construction projects and home renovations, a notable rise in the demand for upscale goods, and growing use in upscale hotels and resorts around the area. The expansion of this market has also been impacted by the accessibility of goods provided by major domestic industry players and global brands via Internet portals.
Company Profiling
Major key players in the global thermostatic faucet market include GROHE AG, Kohler Co., RWC, Moen Incorporated, CERA, Delta Faucets, Jaquar Global, Geberit AG, MASCO, LIXIL Corporation, Roca Sanitario S.A.U., Cera Sanitaryware Ltd., and others.
Recent Developments
Key Target Audience
Market Segment
This study forecasts revenue at global, regional, and country levels from 2023 to 2033. Spherical Insights has segmented the global thermostatic faucet market based on the below-mentioned segments:
Global Thermostatic Faucet Market, By Product
Global Thermostatic Faucet Market, By End Use
Global Thermostatic Faucet Market, By Regional Analysis
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