The global faucet market size was valued at USD 19.4 billion in 2018. The growing application of modernized bathrooms and kitchens is expected to drive the market. Increasing preference for functional kitchens and bathrooms, along with an aesthetic appeal, is also expected to boost faucets market growth. Moreover, continuously changing preferences of consumers, along with improving lifestyles, has been increasing the investments on luxury homes and remodeling, thus contributing to the market demand.
Manufacturers are focusing on expanding their product portfolios by providing an end number of combinations concerning material and designs to cater to the consumer demand for customized faucets. For instance, Kohler offers Sensate Touchless Kitchen Faucet and has been honored as the best of innovations in 2019 for smart home products. Companies are developing smart products for smart user experience, which is also driving innovations in the global market.
Rapidly expanding residential sector in regions such as North America and the Asia Pacific, along with consumer demand for advanced technology-driven plumbing fixtures, is a key driving factor fueling the adoption of modern faucets. Moreover, repairing and remodeling of home utility areas such as kitchens and bathrooms have generated a fair demand for faucets in recent years.
Shift from traditional to contemporary silhouettes and finishes is one of the upcoming trends in the global industry which is driving consumer attention. For instance, GRAFF offers a large variety of vintage style and its Incanto collection of rose gold faucets are minimal in shape and suits the maximalism appeal with its finishes. Similarly, products offered by Kohler represents the Ombre finish for bathrooms that are designed with scratch and tarnish-resistant surfaces.
The commercial sector held the largest share of more than 50.0% in 2018. The commercial places include hotels, restaurants, hospitals, public washrooms and toilets, malls and shopping complexes, airports, railway stations, and other recreational and utility areas. Significant expansion in the commercial sector is expected to drive the market demand shortly. Moen Incorporated offers a wide variety of faucets for the commercial sector and some of the latest innovations include M-Power, M-Dura, M-Press, and M-Bison. Similarly, Delta Faucet Company offers innovative commercial faucets for the hospitality sector.
The residential sector is expected to account for a share of more than 40.0% by 2025. The market will witness stable growth due to an increasing number of households and consumer demand for premium kitchen and bathroom fixture products that serve the purpose as well as compliment the interiors. Delta offers kitchen faucets integrated with advanced technology and relevant finishes, such as Delta ShieldSpray.
Bathroom applications held the largest share of more than 40.0% in 2018. The market growth is attributed to a prominent application of multiple faucets in the washrooms. Furthermore, it has been noticed that people have been shifting their preference from low budget fixtures to high end technologically upgraded and visually appealing fixtures. Companies are introducing a variety of bath faucets to provide a premium consumer experience in both the commercial and residential sectors.
The kitchen is expected to expand at the fastest CAGR of 6.0% from 2019 to 2025. This growth is attributed to the rising demand for elegant, multifunctional, and sophisticated kitchen faucets. The modern lifestyle has a renovated kitchen from a place to cook food to a place for family gatherings and friends spending time together. Companies such as Franke Kitchen Systems offer faucets equipped with the ability to swivel 360 degrees and switch between full and needle water spray. The Franke 3-in-1 faucet is designed to provide hot, cold, and distilled water to ensure the usage of pure and appropriate temperature water for various kitchen purposes.
The offline distribution channel accounted for a revenue share of more than 85.0% in 2018. The physical display of products in the stores serves the customer with the benefit to scan and check the product before purchase. Moreover, the availability of a wide range of products offered by different brands enables consumers to compare and choose the best product.
The online distribution channel is expected to expand at a CAGR of 6.0% from 2019 to 2025. The products are also bought through online portals of leading manufacturers and e-commerce websites. The online distribution channel is penetrating the market with e-commerce platforms and the growing usage of smartphones in daily life. Companies like amazon.com, flipkart.com, Snap deal, and indiamart.com are coming up with door-to-door delivery of products with an online display of a wide range of products.
North America was the largest market, accounting for more than 25.0% share of global revenue in 2018. The Americans have been setting up records with more than regular number washrooms in each household. More than 44% of American houses are likely to have more than one washroom and most rooms have an attached. This trend is projected to upscale the product demand.
Asia Pacific is expected to be the fastest-growing market, expanding at a CAGR of 6.4% from 2019 to 2025. The growth is attributed to increasing construction projects across the residential and commercial sectors. In the year 2018, over ten thousand projects were going on including construction of malls and shopping complex, restaurants and hotels, hospitals, schools, and educational institutions, factories, offices, trains, flights, airports, railway stations, and other similar venues. This scenario is expected to drive the product demand in the next few years.
Some of the key players are Moen Incorporated; Franke Kitchen Systems; DELTA FAUCET COMPANY; American Bath Group; Gerber Plumbing Fixtures LLC; GROHE AMERICA, INC.; Jaquar; Kohler Co.; Colston Bath; PROFLO; and TOTO LTD. The global industry is fragmented in nature as a result of the high concentration of local manufacturing firms in developing economies such as China and India as well as high end Italian and French brands.
The companies are rapidly innovating the product line to make their product smart and posh. Willingness among the consumers to spend more on luxurious products is a key driving force behind this.
Report Attribute |
Details |
Market size value in 2020 |
USD 22.0 billion |
Revenue forecast in 2025 |
USD 28.7 billion |
Growth Rate |
CAGR of 5.7% from 2019 to 2025 |
Base year for estimation |
2018 |
Historical data |
2015 - 2017 |
Forecast period |
2019 - 2025 |
Quantitative units |
Revenue in USD billion and CAGR from 2019 to 2025 |
Report coverage |
Revenue forecast, company share, competitive landscape, growth factors and trends |
Segments covered |
End-user, application, distribution channel, region |
Regional scope |
North America, Europe, Asia Pacific, Central & South America, Middle East & Africa |
Country scope |
U.S.; Germany; U.K.; China; India; Brazil |
Key companies profiled |
Moen Incorporated; Franke Kitchen Systems; DELTA FAUCET COMPANY; American Bath Group; Gerber Plumbing Fixtures LLC; GROHE AMERICA, INC.; Jaquar; Kohler Co.; Colston Bath; PROFLO; TOTO LTD. |
Customization scope |
Free report customization (equivalent up to 8 analysts working days) with purchase. Addition or alteration to country, regional & segment scope. |
Pricing and purchase options |
Avail customized purchase options to meet your exact research needs. Explore purchase options |
This report forecasts revenue growth at the global, regional, and country levels and provides an analysis of the latest industry trends and opportunities in each of the sub-segments from 2015 to 2025. For this study, Grand View Research has segmented the global faucet market report based on end-user, application, distribution channel, and region:
End-User Outlook (Revenue, USD Billion, 2015 - 2025)
Residential
Commercial
Application Outlook (Revenue, USD Billion, 2015 - 2025)
Bathroom
Kitchen
Others
Distribution Channel Outlook (Revenue, USD Billion, 2015 - 2025)
Online
Offline
Regional Outlook (Revenue, USD Billion, 2015 - 2025)
North America
The U.S.
Europe
Germany
U.K.
Asia Pacific
India
China
Central & South America
Brazil
Middle East & Africa (MEA)
b. The global faucet market size was estimated at USD 20.7 billion in 2019 and is expected to reach USD 22.0 billion in 2020.
b. The global faucet market is expected to grow at a compound annual growth rate of 5.7% from 2019 to 2025 to reach USD 28.7 billion by 2025.
b. North America dominated the faucet market with a share of 28.9% in 2019. This is attributable to the fact that Americans have more than the regular number of washrooms in each household and are likely to have more than one washroom and most rooms have an attached which is projected to upscale the product demand.
b. Some key players operating in the faucet market include Moen Incorporated; Franke Kitchen Systems; DELTA FAUCET COMPANY; American Bath Group; Gerber Plumbing Fixtures LLC; GROHE AMERICA, INC.; Jaquar; Kohler Co.; Colston Bath; PROFLO; and TOTO LTD among others.
b. Key factors that are driving the faucet market growth include growing application of modernized bathrooms and kitchens and increasing preference for functional kitchens and bathrooms, along with an aesthetic appeal.
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The home care & decor industry has been witnessing inconsistent growth, since the Covid 19 outbreak. As a result of the ongoing pandemic crisis, there has been a drop in the overall performance of discretionary products such as decorative fixtures, bedding products, to name a few. The virus outbreak has, however, led to substantial growth in categories such as cleaning and hygiene products. Prominent growth in the e-commerce business is also one of the positive influences of the outbreak, wherein companies are focusing on expanding their distribution networks to online channels in order to cater to the surging consumer demand. Our team is diligently working towards accounting these factors in our report with the aim of providing you with the up-to-date, actionable market information and projections.