Residential Faucets Market was valued at USD 12.5 Billion in 2022 and is projected to reach USD 15.7 Billion by 2030, growing at a CAGR of 3.5% from 2024 to 2030.
The residential faucets market has seen significant changes from 2018 to 2022, with steady growth driven by evolving consumer preferences and an increasing demand for modern, efficient products. In 2018, the market was valued at approximately USD 15 billion and experienced a compound annual growth rate (CAGR) of around 5% through 2022. Factors such as rising disposable incomes, urbanization, and a growing emphasis on home improvement projects fueled demand for innovative faucet solutions, particularly in the North American and European regions. These faucets were characterized by advanced features such as water-saving technologies, touchless activation, and sleek, modern designs.
As we compare this to the projected demand from 2023 to 2033, the growth trajectory looks even more promising. The market is expected to expand at a robust CAGR of 6% over the next decade, reaching a value of nearly USD 30 billion by 2033. This growth is primarily driven by the increasing preference for sustainable products, with consumers seeking energy-efficient, water-conserving, and environmentally friendly solutions. The shift toward smart homes and the integration of IoT (Internet of Things) devices into residential plumbing systems will also contribute to the expanding market. Smart faucets, which offer voice-activated controls and real-time water usage monitoring, are predicted to become mainstream in the coming years.
The demand for high-quality faucets is expected to increase in developing economies, where the construction of new homes, particularly in urban areas, is on the rise. Moreover, rising awareness about water conservation in the face of global water scarcity issues is pushing manufacturers to develop more advanced, low-flow faucets that do not compromise on performance. Consumer preference for aesthetic designs that align with modern home interiors is also a key driver of growth, with finishes like matte black, gold, and brushed nickel gaining popularity. Additionally, the market will benefit from the continued focus on easy-to-maintain and durable materials that can withstand long-term use without corrosion or wear.
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LIXIL Group
Masco
Spectrum Brands
Zurn Industries
Vigo Industries
BRIZO KITCHEN & BATH COMPANY
Elements of Design
Freuer Faucets
Jaquar
Kingston Brass
Premier Faucet
Ultra Faucets
By the year 2030, the scale for growth in the market research industry is reported to be above 120 billion which further indicates its projected compound annual growth rate (CAGR), of more than 5.8% from 2023 to 2030. There have also been disruptions in the industry due to advancements in machine learning, artificial intelligence and data analytics There is predictive analysis and real time information about consumers which such technologies provide to the companies enabling them to make better and precise decisions. The Asia-Pacific region is expected to be a key driver of growth, accounting for more than 35% of total revenue growth. In addition, new innovative techniques such as mobile surveys, social listening, and online panels, which emphasize speed, precision, and customization, are also transforming this particular sector.
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Growing demand for below applications around the world has had a direct impact on the growth of the Global Residential Faucets Market
Bathroom faucets
Kitchen faucets
Based on Types the Market is categorized into Below types that held the largest Residential Faucets market share In 2023.
One-hand mixers
Pillars
Two-hand mixers
Global (United States, Global and Mexico)
Europe (Germany, UK, France, Italy, Russia, Turkey, etc.)
Asia-Pacific (China, Japan, Korea, India, Australia, Indonesia, Thailand, Philippines, Malaysia and Vietnam)
South America (Brazil, Argentina, Columbia, etc.)
Middle East and Africa (Saudi Arabia, UAE, Egypt, Nigeria and South Africa)
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1. Introduction of the Global Residential Faucets Market
Overview of the Market
Scope of Report
Assumptions
2. Executive Summary
3. Research Methodology of Verified Market Reports
Data Mining
Validation
Primary Interviews
List of Data Sources
4. Global Residential Faucets Market Outlook
Overview
Market Dynamics
Drivers
Restraints
Opportunities
Porters Five Force Model
Value Chain Analysis
5. Global Residential Faucets Market, By Type
6. Global Residential Faucets Market, By Application
7. Global Residential Faucets Market, By Geography
Global
Europe
Asia Pacific
Rest of the World
8. Global Residential Faucets Market Competitive Landscape
Overview
Company Market Ranking
Key Development Strategies
9. Company Profiles
10. Appendix
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