the Asia-Pacific region dominated the global Hands-Free Faucet industry and is likely to remain dominant during the forecast period.
PORTLAND, OREGON, UNITED STATES, September 7, 2023/EINPresswire.com/ — According to a new report published by Allied Market Research, titled, “Hands-Free Faucet Market,” The Hands-Free Faucet Market Size was valued at $6.3 billion in 2021, and is estimated to reach $10.3 billion by 2031, growing at a CAGR of 5.2% from 2022 to 2031.
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A faucet is a plumbing system component that pulls or controls the flow of water. Spout, handle(s), lift rod, cartridge, aerator, mixing chamber, and water inlets are some examples of its parts. The body of the faucet is often constructed of brass, although it can also be die-cast zinc or plastic that has been chrome-plated. One of the fundamental smart accessories that manufacturers and customers are paying closer attention to is bathroom faucets. Manufacturers are offering a broad variety of digital and hand-free faucets for the residential and commercial sectors thanks to the introduction of cutting-edge technologies.
The United Nations reports that a significant portion of the world is currently being urbanized. The current urban population of the world is close to 54.9%. Urbanization growth has raised awareness of the need for more modern plumbing fixtures such as faucets. Urbanization and the rise in nuclear households, particularly in emerging nations, drive the need for faucets.
Therefore, the need for basic sanitation has increased due to rising urbanization, which is anticipated to drive the demand for faucets during the forecast period. The emergence of knockoff companies is a result of the high cost and surprising popularity of faucet brands such as Delta, Grohe, Kohler, Peerless, Moen, and others. In poor nations with price-sensitive consumers, counterfeit brands are typically common. The sale of the current original faucet brands in these areas is constrained by this aspect.
One of the key elements fueling the expansion of the worldwide faucet market is the rise in customers’ disposable income. The market demand for contemporary & smart bathroom accessories is anticipated to develop as the Hands-Free Faucet Market Trends of house remodeling grows. During the forecast period, the introduction of sensor-based bathroom faucets is anticipated to further the market’s expansion by ensuring improved hygiene standards and water saving.
Since counterfeit goods are of poor quality and frequently cause inconveniences and safety concerns, consumers tend to have negative impressions of them. One of the main platforms where the sale of fake brands can be easily camouflaged is the online distribution channel. Faucets that are counterfeit pose a threat to consumer health since they may unintentionally introduce poisonous substances such as lead, arsenic, and others into water used for drinking and cooking.
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Therefore, these fake goods harm the Hands-Free Faucet Market Growth by giving consumers a bad impression of genuine products. Smart faucets are becoming more and more common in smart home portfolios. These items enable users to efficiently control and monitor water usage in the kitchen and bathrooms thanks to a variety of motion sensors, touch sensors, and temperature gauges. Additionally, these items provide hands-free technology via a variety of sensors and internet connectivity, enhancing the customer’s life with luxury, connectivity, and ease.
Lockdowns enacted in response to the COVID-19 epidemic have led to a temporary prohibition on transportation and import/export operations, which has impacted the supply chain. As a result, the market for faucets experienced slower growth in the second, third, and fourth quarters of 2020. The market is anticipated to rebound in 2021’s first and second quarters as Hands-Free Faucet Market Demand for infrastructure and household goods rises.
The business for faucets is also boosted by modifications in customer lifestyles and preferences, as well as by exposure to foreign brands. The market’s fragmented structure, caused by the existence of numerous small and major sellers, restricts market expansion. Urban population growth and increased industrial investment are expected to pave the way for market expansion during the forecast period.
Global urbanization, an increase in housing units, and the development of smart/hand-free faucets are the main growth drivers for the faucets industry. Additionally, customer preference has turned toward smart home technology, including electronic appliances, smart faucets, and smart bathrooms, which is likely to accelerate market expansion.
The hand free faucets market is segmented on the basis of type, application, end user, and region. The segmentation for application includes bathroom, kitchen, and others. By product type, it is classified into sensor tap, hardwired faucet, battery faucet, and plug-in faucet. By end user, the market is bifurcated into commercial and residential. Based on region, the market is analyzed across North America (U.S., Canada, and Mexico), Europe (UK, France, Germany, Italy, Spain, Russia and rest of Europe), Asia-Pacific (China, India, Japan, Australia, South Korea, ASEAN, and rest of Asia-Pacific), and LAMEA (Latin America, Middle East, and Africa).
The key players in the Hands-Free Faucet Market Analysis include Hardly Décor, Euronics Industries Pvt Ltd, Jaquar, Masco Corporation, Sloan Valve Company, Inter IKEA Systems B.V., GROHE, Zurn Industries, LLC, LIXIL Corporation, Kohler Co., Symmons Inc., Geberit Group, Archiproducts, Professional Plumbing Group, and Zurn Industries, LLC.
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On the basis of type, the sensor tap segment had the dominating global Hands-Free Faucet Market Share in the year 2021 and is likely to remain dominant during the forecast period.
On the basis of application, the bathroom segment dominated the global market in the year 2021 and is likely to remain dominant during the forecast period.
On the basis of end users, the commercial segment dominated the global market in the year 2021 and is likely to remain dominant during the forecast period.
On the basis of region, the Asia-Pacific region dominated the global Hands-Free Faucet industry in the year 2021 and is likely to remain dominant during the forecast period.
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