A recent report published by Infinium Global Research on the thermostatic faucet market provides in-depth analysis of segments and sub-segments in the global as well as regional thermostatic faucet market. The study also highlights the impact of drivers, restraints, and macro indicators on the global and regional thermostatic faucet market over the short term as well as long term. The report is a comprehensive presentation of trends, forecast and dollar values of the global thermostatic faucet market. According to the report, the global thermostatic faucet market is projected to grow at a CAGR of 5.57% over the forecast period of 2021-2027.

Market Insight

The global thermostatic faucet market was valued at USD 7.75 billion in 2021 and is expected to reach USD 10.73 billion in 2027, with a CAGR of 5.57% during the forecast period. A thermostatic faucet is a device or valve that helps to release or deliver water by adjusting it to a required temperature. It operates by mixing hot and cold water from plumbing. Handle, spout, cartridge, lift rod, aerator, mixing chamber, and water inlets help the user to take care of a secure shower, ensure constant water temperature for a particular time duration, and forestall the chance related to scalding. The increasing popularity of smart thermostatic faucets in various sectors, like in hospitals, corporates, hotels, spa centers, beauty, and other commercial and industrial sectors, is additionally the key factor propelling the expansion of the market during the forecast period.

Increasing demand for advanced faucets and rising urbanization globally are projected to propel the global thermostatic faucet market growth during the forecast period. The growth of the global thermostatic faucet market is attributed to rising customer preference for luxury products and increasing demand for advanced faucets among the middle-class population worldwide. Additionally, increasing disposable income, changing standard of living, rising construction activities, and increasing urbanization will enhance the expansion of the market. The increasing number of residential houses because of urbanization enhanced the demand for advanced faucets. Worldwide major players make large investments in the Research and Development of faucets to produce contactless products to capture the market share. Its utilization in the healthcare industry is rising because of the COVID epidemic which is a great growth opportunity for major players. However, the high cost of the products and interruption in the logistics & supply chain activities because of the epidemic are the major restraints to the growth of the thermostatic faucet market. Shifting customer preference because of the entrance of modern products, stringent government rules, and high transportation costs is expected to hamper the growth of the market during the forecast period.

In terms of region, the global thermostatic faucet market is segmented into North America, Europe, Asia Pacific, Africa, and the Middle East. North America holds the biggest market share, because of the increasing demand for advanced bathroom and kitchen accessories. Moreover, increasing awareness regarding water conservation is fueling the demand for thermostatic faucets in the region during the forecast period. Furthermore, the Asia Pacific region is expected to dominate the global thermostatic faucet market during the forecast period. The growth of the market is accredited to the increasing construction activities in the commercial and residential sectors within the region.

Segment Covered

The report on the global thermostatic faucet market covers segments such as product, and distribution channel. On the basis of product, the sub-markets include single lever, two handle, and others. On the basis of distribution channel, the sub-markets include residential, and commercial.

Companies Profiled:

The report provides profiles of the companies in the market such as Masco Corp., Jaguar Group, Geberit AG, Reliance Worldwide Corporation Ltd., Rocca Sanitario, Moen, Inc., Kohler Co., Grohe AG, Hindware, and Vika Bath Fittings.

Report Highlights:

The report provides deep insights into the demand forecasts, market trends, and micro and macro indicators. In addition, this report provides insights into the factors that are driving and restraining the growth in this market. Moreover, The IGR-Growth Matrix analysis given in the report brings an insight into the investment areas that existing or new market players can consider. The report provides insights into the market using analytical tools such as Porter's five forces analysis and DRO analysis of the thermostatic faucet market. Moreover, the study highlights current market trends and provides forecast from 2021-2027. We also have highlighted future trends in the market that will affect the demand during the forecast period. Moreover, the competitive analysis given in each regional market brings an insight into the market share of the leading players.