Faucet Market 2030: What Will Be Changes In Investment Ratio With Opportunity Analysis?? |Grand View Research, Inc.Posted by Mrudula Karmarkar on July 29th, 2022 The global faucet market is expected to reach USD 36.7 billion by 2030 and expand at a CAGR of 7.4% from 2022 to 2030, according to a new report by Grand View Research, Inc. The faucet market is gaining high popularity due to growth in the real estate industry eventually increasing the construction of residential and commercial buildings that require faucet installations. Due to urbanization, rapidly rising costs of houses and mortgage rates are influencing people to invest more in home remodeling projects. This has led to an increase in trendy and smart bathroom accessories and further enhanced the market growth. According to the American Housing Survey studied by Harvard’s Joint Center for Housing Studies, the home improvement industry was estimated at USD 385 million in 2018. The e-commerce distribution channel is witnessing momentum as the market players are focusing on the marketing of their products through different digital media platforms. The most commonly used digital mediums are social media accounts or pages and brand websites. Some of the major e-commerce sellers of faucets for kitchens, bathrooms, and other applications are Wayfair LLC, Hausera, Faucet Depot, and Amazon. The prominent market players are offering pull-out and pull-down kitchen faucet technologies to gain substantial market share. These faucets in the market offer hand wave technologies, clap technology, Wi-Fi technology, etc. for the convenience of the consumers and efficient water conservation technologies. The pull-out and pull-down kitchen faucets operate at restricted flow rates in an effort to save water as per government regulations. To Request Sample Copy of this report, click the link: https://www.grandviewresearch.com/industry-analysis/faucet-market/request/rs1 COVID-19 is still a significant issue for economies around the world, due to a year-on-year decline in exports and an increase in imports over the same period of time. The faucets market is trying to recover. Despite this, it means there is a direct impact on the ICT/ Healthcare/ chemical industries, resulting in a large market for the faucet market. The increase in the disposable income of consumers is one of the primary factors that drive the growth of the global market. A rise in the trend of remodeling and thereby the use of trendy and smart bathroom accessories is anticipated to increase the demand in the market. According to iProperty Management, in 2022, most homeowners spent USD 5.000-10,000 upgrading their homes. Faucet Market Report Highlights
The market includes both international and domestic participants. Key market players focus on strategies such as innovation and new product launches in retail, to enhance their portfolio offering in the market.
Some of the key players operating in the global faucet market include: -
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