The kitchen faucets market has demonstrated impressive growth, escalating from $8.81 billion in 2023 to $9.54 billion in 2024, reflecting a robust compound annual growth rate (CAGR) of 8.3%. This expansion is fueled by increased disposable income, the rise of e-commerce, regulatory influences, the advent of smart faucets, and heightened residential demand. The market is projected to continue its upward trajectory, reaching $13.21 billion by 2028, at a CAGR of 8.5%. Future growth is expected to be driven by evolving consumer preferences, regulatory frameworks, the adoption of pull-out and pull-down faucets, the proliferation of smart homes, and enhanced investment by manufacturers. Key trends include the integration of touchless operation, customizable water flow, smart home system compatibility, and innovations in faucet design.
Major Driver In The Kitchen Faucets Market
The kitchen faucets market is set to grow significantly due to the increasing number of households. As urbanization and population growth lead to more residential spaces, the demand for essential kitchen fixtures, such as faucets, rises. The Australian Bureau of Statistics projects that Australia will have between 13.3 million and 13.9 million households by 2046, up from 10.0 million in 2021. This increase in household numbers is driving substantial growth in the kitchen faucets market, with expectations of reaching $3.1 billion in 2024 and $4.5 billion by 2028.
Request A Free Sample Of The Kitchen Faucets Market Report
Kitchen Faucets Market Competitive Landscape
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
Key Kitchen Faucets Market Trend
In the kitchen faucet market, major companies are developing next-generation touchless faucet technologies to meet evolving consumer preferences for hygiene and convenience. Touchless faucets use sensors to detect motion, allowing users to operate the faucet without physical contact. Delta Faucet Company, a prominent US-based manufacturer of plumbing fixtures, unveiled its Touch2O with Touchless Technology in December 2023. This innovative faucet model enables users to turn the water on or off with a light touch or by placing their hand near the faucet, promoting hygiene and minimizing germ transmission by reducing direct contact with faucet handles.
Purchase The Global Kitchen Faucets Market Report Directly And Get A Swift Delivery
Kitchen Faucets Market Segmentation
The kitchen faucets market covered in this report is 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
By Geography:The regions covered in the kitchen faucets market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA, Canada, Italy, Spain.
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 Kitchen Faucets Global Market Report 2024 furnishes information about the global kitchen faucets market, encompassing details like market size, projections for growth, segmentation across various sectors and regions, and an overview of competitors, including their revenues, profiles, and market shares. Furthermore, the report pinpoints potential opportunities and strategic directions derived from market trends and the strategies adopted by key competitors. The report also offers an assessment of how the COVID-19 pandemic, the Russia-Ukraine conflict, and increasing inflation have affected both global and regional markets, furnishing valuable strategic insights for businesses.
