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Kitchen Faucets Global market Report 2024 : Market Size, Trends, And Global Forecast 2024-2033
The Business Research Company's Kitchen Faucets Global Market Report 2024 – Market Size, Trends, And Global Forecast 2024-2033
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LONDON, GREATER LONDON, UNITED KINGDOM, September 6, 2024 /EINPresswire / -- The kitchen faucets market has experienced robust growth in recent years, expanding from $8.81 billion in 2023 to $9.54 billion in 2024 at a compound annual growth rate (CAGR) of 8.3%. The growth in the historic period can be attributed to rising disposable income, e-commerce growth, government regulations, the emergence of smart faucets, and increasing demand from the residential segment.
What Is The Estimated Market Size Of The Global Kitchen Faucets Market And Its Annual Growth Rate?
The kitchen faucets market is projected to grow strongly, reaching $13.21 billion in 2028 at a compound annual growth rate (CAGR) of 8.5%. The growth in the forecast period can be attributed to consumer preferences, government regulations, the growing adoption of pull-out and pull-down faucets, the growth of smart homes, and increasing expenditure by manufacturers.
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Growth Driver Of The Kitchen Faucets Market
The increasing number of households is expected to propel the growth of the kitchen faucets market going forward. Households refer to individuals or groups of people living together in a single dwelling and sharing common living arrangements, such as families, single individuals, or roommates. The number of households is increasing due to sustained population growth, which drives demand for residential spaces, and urbanization, as more people migrate to cities in search of employment and better living conditions. Kitchen faucets are essential for households, providing convenient access to water for cooking, dishwashing, and cleaning tasks.
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Who Are The Key Players Shaping The Kitchen Faucets Market Trends?
Key players in the kitchen faucets market include Lixil Group Corporation, Kohler Co., Toto Ltd., American Standard Brands, Grohe AG, Moen Incorporated, Hansgrohe SE, Villeroy & Boch AG, Masco Corporation, Elkay Manufacturing Company, Delta Faucet Company, Globe Union Industrial Corp., Pfister, Dornbracht GmbH & Co. KG, Chicago Faucets, House of Rohl, GESSI S.p.A., Kludi GmbH & Co. KG, VIGO Industries LLC, Matco-Norca, Roca Sanitario S.A., La Toscana, INAX Corporation, Waterstone Faucets.
What Are The Dominant Trends In Kitchen Faucets Market Growth?
Major companies operating in the kitchen faucet market are focusing on developing next-generation innovative solutions, such as touchless faucet technologies, to meet evolving consumer preferences for hygiene and ease of use. Touchless faucet technologies refer to innovative solutions where faucets are equipped with sensors that detect motion or presence, allowing users to turn the water on and off without needing to touch the faucet handle.
How Is The Global Kitchen Faucets Market Segmented?
1) By Type: Pull Out Faucets, Pull Down Faucets, Single Hand Faucets, Dual-Handle Faucets, Separate Spray Faucets, Pot Filler Faucets, Motion Detection Faucets, Other Types
2) By Material Type: Chrome, Stainless Steel, Bronze, Plastic, Other Materials
3) By Installation Type: Wall Mount, Deck Mount
4) By Distribution Channel: Online, Offline
5) By End-Use: Residential, Commercial
Geographical Insights: North America Leading The Kitchen Faucets Market
North America was the largest region in the kitchen faucets market in 2023. Asia-Pacific is expected to be the fastest-growing region in the forecast period. The regions covered in the kitchen faucets market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa.
Kitchen Faucets Market Definition
Kitchen faucets are devices used to control the flow of water in kitchen sinks for tasks such as washing dishes, food preparation, and general cleaning. They typically consist of a spout, handles for hot and cold water control, and mechanisms to regulate flow and temperature. Modern kitchen faucets often incorporate features such as pull-out or pull-down sprayers, touchless operation using sensors, and various finishes to match kitchen decor.
Kitchen Faucets Global Market Report 2024 from TBRC covers the following information:
.Market size data for the forecast period: Historical and Future
.Macroeconomic factors affecting the market in the short and long run
.Analysis of the macro and micro economic factors that have affected the market in the past five years
.Market analysis by region: Asia-Pacific, China, Western Europe, Eastern Europe, North America, USA, South America, Middle East and Africa.
.Market analysis by countries: Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA.
An overview of the global kitchen faucets market report covering trends, opportunities, strategies, and more
The Kitchen Faucets Global Market Report 2024 by The Business Research Company is the most comprehensive report that provides insights on kitchen faucets market size , kitchen faucets market drivers and trends, kitchen faucets market major players, kitchen faucets competitors' revenues, kitchen faucets market positioning, and kitchen faucets market growth across geographies. The kitchen faucets market report helps you gain in-depth insights into opportunities and strategies. Companies can leverage the data in the report and tap into segments with the highest growth potential.
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