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July 22, 2020, 11:47 a.m. EDT

Opportunities in Kitchen Faucet Market Amidst COVID-19 Pandemic

Top Players in Kitchen Faucet Market include Lixil Group Corporation, Hansgrohe Group, Masco Corporation, Fortune Brands, Spectrum Bands, TOTO, Roca Sanitario, S.A., Jaquar Group

Jul 22, 2020 (The Expresswire) -- Over the past few years, the plumbing business is flourishing, which is encouraging growth in the global Kitchen Faucets Market. The overall kitchen faucet market is expected to grow from USD 5,935.3 Million in 2017 to USD 9,611.6 Million by 2025 at a CAGR of 6.3% during the forecast period. This information was published in a report, titled “Kitchen Faucets Market Size, Share and Global Trend By Product (Pull-Down Faucet, Pull-Out Faucet, Hands-Free, Bar Faucets, Pot Filters, Faucet with side Spray), By Installation Type (Deck Mount, Wall Mount), By Material (Chrome, Stainless Steel, Bronze, Plastic), By Number of Faucet Holes (One, Two, Three, Four) and By Geography Forecast till 2025.” Several traditional kitchen faucet manufacturers are planning to develop advanced faucets to fulfill their customer requirements. This will further attract new customers with the rising demand for modern kitchens across the world.

To Gain More Insights into the Kitchen Faucet Market Analysis, Browse Summary of the Research Report - https://www.fortunebusinessinsights.com/industry-reports/kitchen-faucets-market-100455

List of Top Key Players Mentioned:

  • Lixil Group Corporation

  • Hansgrohe Group

  • Masco Corporation

  • Fortune Brands

  • Spectrum Bands

  • TOTO

  • Roca Sanitario

  • Jaquar Group

“Koehler’s Cloud-based Konnect Platform Sets New Standards in the Faucets Industry”

Jaquar Group, Lixil Group Corporation, Masco Corporation, Hansgrohe Group, Spectrum Bands, Fortune Brands, Roca Sanitario, S.A., and TOTO are some of the leading players operating in the global kitchen faucets market. Several large and small scale players are planning to set up manufacturing units in order to upgrade their production processes. In addition to this, manufacturers are trying to target the urban population by introducing premium kitchen faucets products such as faucet taps in the market. In 2018, Koehler announced the introduction of Koehler Konnect Platform. This platform is based on Microsoft’s Azure platform enabled with the internet of things (IoT) cloud solutions. Koehler’s products consist of Sensate faucet which operates on voice commands or touch-screen interactions. This platform allows a user to monitor water usage and track its consumption on a daily basis. Other companies are also working on to develop new kitchen faucets to survive the competition.

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“Rapid Expansion of Residential Sector Boosts the Market in North America”

North America is anticipated to maintain its dominance in the global kitchen faucets market throughout the forecast years. In 2017, the market in the region was worth USD 2011.6 Mn. The rapidly expanding residential sector in this region is the foremost factor enabling growth in the market. With the help of advanced technology, the adoption of new kitchen faucets is increasing with an aim to enhance the design and look of kitchens. This is further expected to stimulate the growth of the market and increase the demand for faucet taps in the forthcoming years.

Apart from North America, Asia Pacific is also expected to register strong demand for kitchen faucets in the forecast years. Moreover, the region was valued at USD 1440.5 Mn in the year 2017. Changes in the standard of living and rising per capita income are seeing a shift in the buying pattern of customers., which is likely to create attractive growth opportunities in the market. In addition to this, growing urbanization in countries such as Japan, India, China, and Singapore are likely to uplift the market’s growth by 2025. The market in Asia Pacific is expected to experience a CAGR of 7.5% during the forecast period.

“Growing Demand for Technologically Developed Hands-free Faucets Bodes Well for the Market”

The rising demand for sophisticated, convenient, and environmental-friendly faucets is augmenting demand for kitchen faucets. “Companies are increasingly focusing on improvements in the plumbing industry and setting new standards in electronic water fixtures,” said a lead analyst at Fortune Business Insights. This, as a result, will give rise to innovative and advanced kitchen faucets over the next few years.

Among different types of kitchen faucet products which include Pull-Out Faucet, Pull-Down Faucet, Bar Faucets, Hands-free Faucet, and Pot Filters, the demand for hands-free faucets is expected to fuel by 2025. The adoption of sensor-enabled hands-free faucets is likely to increase in the forthcoming years as they have the ability to save water and extended battery life.

Rapid digitization in kitchen faucets has caught the attention of several users. The introduction of touchscreen kitchen faucets is expected to bode well for the market. The added advantages of hands-free faucets such as cost-effectiveness and energy savers are contributing to the growth of the market.

Speak to our Analyst for any Queries about Kitchen Faucet Market Research Report - https://www.fortunebusinessinsights.com/enquiry/speak-to-analyst/kitchen-faucets-market-100455

Major Table of Contents:

  1. Introduction

  2. Executive Summary

  3. Market Dynamics

  4. Key Insights

  5. Global Kitchen Faucets Market Analysis, Insights and Forecast, 2014-2025

  1. North America Kitchen Faucets Market Analysis, Insights and Forecast, 2014-2025

TOC Continued.......!

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An Overview of the Impact of COVID-19 on this Market:

The emergence of COVID-19 has brought the world to a standstill. We understand that this health crisis has brought an unprecedented impact on businesses across industries. However, this too shall pass. Rising support from governments and several companies can help in the fight against this highly contagious disease. There are some industries that are struggling and some are thriving. Overall, almost every sector is anticipated to be impacted by the pandemic.

We are making continuous efforts to help your business sustain and grow during COVID-19 pandemics. Based on our experience and expertise, we will offer you an impact analysis of coronavirus outbreak across industries to help you prepare for the future.

About Us:
Fortune Business Insights™ offers expert corporate analysis and accurate data, helping organizations of all sizes make timely decisions. Our reports contain a unique mix of tangible insights and qualitative analysis to help companies achieve sustainable growth. Our team of experienced analysts and consultants use industry-leading research tools and techniques to compile comprehensive market studies, interspersed with relevant data.

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Email: sales@fortunebusinessinsights.com
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Press Release Distributed by The Express Wire

To view the original version on The Express Wire visit Opportunities in Kitchen Faucet Market Amidst COVID-19 Pandemic

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