Faucet Market Size, Share & Trends Report

Faucet Market Size, Share & Trends Analysis Report By Product, By Technology, By End-user, By Application, By Material, By Finish, By Distribution Channel, By Region, And Segment Forecasts, 2024 - 2030

  • Report ID: GVR-3-68038-240-2
  • Number of Pages: 80
  • Format: Electronic (PDF)

Research Methodology

A three-pronged approach was followed for deducing the faucet market estimates and forecasts. The process has three steps: information procurement, analysis, and validation. The whole process is cyclical, and steps repeat until the estimates are validated. The three steps are explained in detail below:

Information procurement: Information procurement is one of the most extensive and important stages in our research process, and quality data is critical for accurate analysis. We followed a multi-channel data collection process for faucet market to gather the most reliable and current information possible.

  • We buy access to paid databases such as Hoover’s and Factiva for company financials, industry information, white papers, industry journals, SME journals, and more.
  • We tap into Grand View’s proprietary database of data points and insights from active and archived monitoring and reporting.
  • We conduct primary research with industry experts through questionnaires and one-on-one phone interviews.
  • We pull from reliable secondary sources such as white papers and government statistics, published by organizations like WHO, NGOs, World Bank, etc., Key Opinion Leaders (KoL) publications, company filings, investor documents, and more.
  • We purchase and review investor analyst reports, broker reports, academic commentary, government quotes, and wealth management publications for insightful third-party perspectives.

Analysis: We mine the data collected to establish baselines for forecasting, identify trends and opportunities, gain insight into consumer demographics and drivers, and so much more. We utilized different methods of faucet market data depending on the type of information we’re trying to uncover in our research.

  • Market Research Efforts: Bottom-up Approach for estimating and forecasting demand size and opportunity, top-down Approach for new product forecasting and penetration, and combined approach of both Bottom-up and Top-down for full coverage analysis.

  • Value-Chain-Based Sizing & Forecasting: Supply-side estimates for understanding potential revenue through competitive benchmarking, forecasting, and penetration modeling.

  • Demand-side estimates for identifying parent and ancillary markets, segment modeling, and heuristic forecasting.

  • Qualitative Functional Deployment (QFD) Modelling for market share assessment.

Market formulation and validation: We mine the data collected to establish baselines for forecasting, identify trends and opportunities, gain insight into consumer demographics and drivers, and so much more. We utilize different methods of data analysis depending on the type of information we’re trying to uncover in our research.

  • Market Formulation: This step involves the finalization of market numbers. This step on an internal level is designed to manage outputs from the Data Analysis step.

  • Data Normalization: The final market estimates and forecasts are then aligned and sent to industry experts, in-panel quality control managers for validation.

  • This step also entails the finalization of the report scope and data representation pattern.

  • Validation: The process entails multiple levels of validation. All these steps run in parallel, and the study is forwarded for publishing only if all three levels render validated results.

Faucet Market Categorization:

The faucet market was categorized into eight segments, namely product (Ball, Disc, Cartridge, Compression), technology (Manual, Automatic), material (Stainless Steel, Copper, Brass & Bronze, Zinc & Zinc Alloys, Plastic), application (Bathroom, Kitchen), finish (Nickel, Chrome, Stainless Steel, Matte Black), end-user (Residential, Commercial), distribution channel (Online, Offline), and region (North America, Europe, Asia Pacific, Central & South America, and Middle East & Africa).

Segment Market Methodology:

The faucet market was segmented into product, technology, material, application, finish, end-user, distribution channel, and regions. The demand at a segment level was deduced using a funnel method. Concepts like the TAM, SAM, SOM, etc., were put into practice to understand the demand. We at GVR deploy three methods to deduce market estimates and determine forecasts. These methods are explained below:

Market research approaches: Bottom-up

  • Demand estimation of each product across countries/regions summed up to from the total market.

  • Variable analysis for demand forecast.

  • Demand estimation via analyzing paid database, and company financials either via annual reports or paid database.

  • Primary interviews for data revalidation and insight collection.

Market research approaches: Top-down

  • Used extensively for new product forecasting or analyzing penetration levels.

  • Tool used invoice product flow and penetration models Use of regression multi-variant analysis for forecasting Involves extensive use of paid and public databases.

  • Primary interviews and vendor-based primary research for variable impact analysis.

Market research approaches: Combined

  • This is the most common method. We apply concepts from both the top-down and bottom-up approaches to arrive at a viable conclusion.

Regional Market Methodology:

The faucet market was analyzed at a regional level. The globe was divided into North America, Europe, Asia Pacific, Central & South America, and Middle East & Africa, keeping in focus variables like consumption patterns, export-import regulations, consumer expectations, etc. These regions were further divided into seventeen countries, namely, the U.S., Canada, Mexico, Germany, the UK, Spain, Italy, France, China, India, Japan, Australia & New Zealand, South Korea, Brazil, Argentina, South Africa, Saudi Arabia.

All three above-mentioned market research methodologies were applied to arrive at regional-level conclusions. The regions were then summed up to form the global market.

Faucet market companies & financials:

The faucet market was analyzed via companies operating in the sector. Analyzing these companies and cross-referencing them to the demand equation helped us validate our assumptions and conclusions. Key market players analyzed include:

  • Kohler Co. - Kohler Co. manufactures kitchen and bath products, engines and power generation systems, premier furniture, cabinetry, and tiles. Under the kitchen and bath segment, the company offers products like sinks, faucets, toilet seating, bathing products, mirrors, vanities, kitchen faucets, shower doors, and lighting products. Kohler’s product portfolio comprises numerous furniture and decorative products including ceramic items, wood tiles, beds and tables, etc.

  • LIXIL Group Corporation - LIXIL Group manufactures housing equipment and building materials. LIXIL LWT Group manufactures a wide range of products including sanitary ware, cabinet units, water faucets, window sashes, washstands & washstand fixtures, bathtubs, shower toilets & showerheads, and unit bathrooms. Additionally, the company provides internal decorative tiles and external tiles for residential and commercial buildings.

  • Roca Sanitario, S.A.- Roca Sanitario is a manufacturer and designer of bathroom solutions. The company’s product portfolio comprises wash basins, bathroom collections, water closets, novelties, toilets, faucets, installation system, and 2D and 3D working tools. As Roca has a market presence through its key brands, including Veranda, Debba and, Laufen.

  • Cera Sanitaryware Limited - Cera Sanitaryware Limited is engaged in the manufacturing, marketing, and distribution of sanitaryware & faucets, trading tiles, and other bathroom and kitchen products. The company’s portfolio of sanitaryware products includes washbasins, faucets, urinals, cisterns, seat covers, sensors, and bath accessories for adults and kids, as well as special needs products such as cranes, rails, and grab bars. The company also provides sensor taps, basin mixers, showers, bathtub spouts, flush valves, and cocks, angle and stop cocks, health faucets, aquamatics, clinical products, waste couplings, concealed parts, and chrome-plated accessories. Cera offers wellness products such as steam shower rooms, shower rooms, shower cubicles, shower partitions, bathtubs, shower panels, and pressure pumps; kitchen sinks; mirrors; personal care products such as soap dispensers, hand dryers, perfume sprayers with remote control and hair dryers; wall and floor tiles; and allied products.

  • Masco Corporation - Masco Corporation is engaged in the designing, manufacturing, and distribution of home improvement and new home construction products. The company sells its product to plumbers, building contractors, remodelers, smaller retailers, and consumers. The company operates in four segments: Plumbing Products, Decorative Architectural Products, Cabinetry Products, Cabinets and Related Products, and Other Specialty Products. The company’s brand portfolio includes Axor, BrassCraft, Brasstech, Bristan, Brizo, Cadence, CalderaSpas, Cobra, Delta, Endless Pools, Fantasy Spas, Freeflow Spas, Ginger, Hansgrohe, Heritage, HotSpring, Hüppe, Master Plumber, Mercury Plastics, Mirolin, Newport Brass, Peerless, Plumb Shop, and Waltec.

  • Villeroy & Boch AG - Villeroy & Boch AG is an international ceramic products manufacturer. It operates through the following business divisions: Bathroom & Wellness, Tableware, Tiles, and Kitchen. Its Bathroom & Wellness division offers products such as bathroom sinks, toilets and WCs, shower trays, baths, whirlpools, and bathroom furniture among others. The company sells its tableware products in over 20 countries via its online shops and its products are available at around 4,700 points of sale worldwide.

  • Delta Faucet Company - Delta Faucet Company, a division of Masco Corporation, is one of the largest manufacturers of residential and commercial faucets in the U.S. It was founded in 1954 and is headquartered in Indiana, U.S. The company’s product portfolio includes kitchen and bathroom products. Its kitchen segment comprises kitchen faucets, specialty faucets, and accessories. Its bathroom segment comprises sink faucets, shower and bathroom fittings, and toilet accessories. The company manufactures the Delta, Brizo, and Peerless faucet brands and sells its products through its showrooms, wholesalers, kitchen & bath dealers, and home/hardware centers across the country.

  • Hansgrohe- Hansgrohe Group, manufactures premium-quality bathroom and kitchenware and accessories. The company is owned by Masco Plumbing Products and it operates and markets its products, through two brands, i.e., AXOR and Hansgrohe, across 140 countries.

  • Toto Ltd. - Toto Ltd. manufactures and sells bathroom and kitchen plumbing products globally. The company’s product portfolio comprises sanitary ware, modular kitchen, vanity unit bathrooms, artificial marble counters, bathroom ventilation, heating & drying systems, and welfare equipment. Toto Ltd. also provides green building materials, air bearings, and optical components.

  • Moen Incorporated - Moen Incorporated is a designer and manufacturer of kitchen and bath faucets, bath safety products, showerheads & accessories, and kitchen sinks for residential and commercial applications. The company’s product portfolio comprises tubs, showers, sinks, spa systems, and accessories. Additionally, the company provides kitchen faucets, laundry, and beverages. It has a diverse network of wholesalers and retailers including online retailers.

Value chain-based sizing & forecasting

Supply Side Estimates

  • Company revenue estimation via referring to annual reports, investor presentations, and Hoover’s.

  • Segment revenue determination via variable analysis and penetration modeling.

  • Competitive benchmarking to identify market leaders and their collective revenue shares.

  • Forecasting via analyzing commercialization rates, pipelines, market initiatives, distribution networks, etc.

Demand side estimates

  • Identifying parent markets and ancillary markets

  • Segment penetration analysis to obtain pertinent

  • revenue/volume

  • Heuristic forecasting with the help of subject matter experts

  • Forecasting via variable analysis

Faucet Market Report Objectives:

  • Understanding market dynamics (in terms of drivers, restraints, & opportunities) in the countries.

  • Understanding trends & variables in the individual countries & their impact on growth and using analytical tools to provide high-level insights into the market dynamics and the associated growth pattern.

  • Understanding market estimates and forecasts (with the base year as 2023, historic information from 2018 to 2023, and forecast from 2024 to 2030). Regional estimates & forecasts for each category are available and are summed up to form the global market estimates.

Faucet Market Report Assumptions:

  • The report provides market value for the base year 2022 and a yearly forecast till 2030 in terms of revenue/volume or both. The market for each of the segment outlooks has been provided on region & country basis for the above-mentioned forecast period.

  • The key industry dynamics, major technological trends, and application markets are evaluated to understand their impact on the demand for the forecast period. The growth rates were estimated using correlation, regression, and time-series analysis.

  • We have used the bottom-up approach for market sizing, analyzing key regional markets, dynamics, & trends for various products and end-users. The total market has been estimated by integrating the country markets.

  • All market estimates and forecasts have been validated through primary interviews with the key industry participants.

  • Inflation has not been accounted for to estimate and forecast the market.

  • Numbers may not add up due to rounding off.

  • Europe consists of EU-8, Central & Eastern Europe, along with the Commonwealth of Independent States (CIS).

  • Asia Pacific includes South Asia, East Asia, Southeast Asia, and Oceania (Australia & New Zealand).

  • Latin America includes Central American countries and the South American continent

  • Middle East includes Western Asia (as assigned by the UN Statistics Division) and the African continent.

Primary Research

GVR strives to procure the latest and unique information for reports directly from industry experts, which gives it a competitive edge. Quality is of utmost importance to us, therefore every year we focus on increasing our experts’ panel. Primary interviews are one of the critical steps in identifying recent market trends and scenarios. This process enables us to justify and validate our market estimates and forecasts to our clients. With more than 8,000 reports in our database, we have connected with some key opinion leaders across various domains, including healthcare, technology, consumer goods, and the chemical sector. Our process starts with identifying the right platform for a particular type of report, i.e., emails, LinkedIn, seminars, or telephonic conversation, as every report is unique and requires a differentiated approach.

We send out questionnaires to different experts from various regions/ countries, which is dependent on the following factors:

  • Report/Market scope: If the market study is global, we send questionnaires to industry experts across various regions, including North America, Europe, Asia Pacific, Latin America, and MEA.

  • Market Penetration: If the market is driven by technological advancements, population density, disease prevalence, or other factors, we identify experts and send out questionnaires based on region or country dominance.

The time to start receiving responses from industry experts varies based on how niche or well-penetrated the market is. Our reports include a detailed chapter on the KoL opinion section, which helps our clients understand the perspective of experts already in the market space.

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