Company Share And Competitive Positioning: Global Faucet Market

Market Overview

The global faucet market growth is primarily driven by increasing demand for modern and innovative faucets in residential and commercial construction projects, the rising trend of smart homes and automated kitchens and bathrooms, and growing consumer preference for water-saving and eco-friendly faucets.

Rising housing values and mortgage rates have prompted more homeowners to undertake remodeling and home improvement projects to adapt their traditional living spaces. Many consumers prioritize the kitchen as the centerpiece of their homes while enhancing bathroom functionality, driving renovations in these key areas in line with the latest trends and products. Additionally, increasing demand for technologically advanced fixtures and evolving consumer preferences have contributed to the faucet market's expansion.

The growing penetration of smart home technology has been one of the key factors boosting the adoption of smart faucets in residential settings. According to a YouGov report from January 2024, 65% of Americans now own at least one smart home device, up from 51% in 2020, a 27% increase over four years. Similarly, a Parks Associates study in April 2024 found that 45% of U.S. internet households have at least one smart device, with 18% owning six or more.

Company Share Analysis, 2024

Kohler Co.: Kohler Co. manufactures kitchen and bath appliances, engines & power generation systems, furniture & decorative products, and home interiors & tiles. Under the kitchen and bath segment, the company offers sinks & faucets, toilet seating, bathing products, mirrors & vanities, kitchen faucets, shower doors, and lighting products. The company has around 30 diverse brands in over 50 countries around the world.

Key brands: STERLING, Englefield, Jacob Delafon, Kallista, Kohler, Mira Showers, Rada

Key Strategies: Kohler drives growth through innovation in smart, sustainable kitchen and bath products, digital and e-commerce expansion, influencer marketing, strategic acquisitions, and a focus on design and sustainability.

American Standard: American Standard is a leading North American plumbing and building products manufacturer. The brand is well-known for its commitment to quality, innovation, and sustainability in the production of bath and kitchen fixtures. American Standard products are distributed through an extensive network. Their product portfolio includes high-performing faucets, stylish sinks, whirlpool tubs, and various wellness products designed for both residential and commercial applications.

Key brand: American Standard

Key Strategies: The company focuses on innovative, water-efficient bathroom and kitchen solutions, strengthens its digital presence, leverages brand heritage, expands through strategic partnerships, and emphasizes sustainability and user-centric design.

Moen Incorporated: Moen Incorporated is an American manufacturer of kitchen and bathroom fixtures, specializing in faucets, showerheads, and other plumbing products. The company is recognized for its innovation, quality, and stylish designs in the plumbing industry. Moen’s faucets feature advanced technologies such as MotionSense, Power Clean, and Smart Faucet systems.

Key brand: Moen

Key strategies: The company focuses on smart water innovation through its Smart Water Network, emphasizing sustainability with goals like saving 1 trillion gallons of water by 2030. The company enhances customer experience via digital transformation, including app-based controls and voice-activated fixtures. Moen also integrates recycled materials into products, reinforcing its commitment to eco-friendly design.

Globe Union Industrial Corp.: Globe Union Industrial Corp. is a global manufacturer of plumbing and sanitary products. The company designs, develops, and produces a wide range of fixtures, including faucets, bathroom accessories, showers, and kitchen equipment. With a strong presence in international markets across the Americas, Europe, and Asia, Globe Union serves both residential and commercial sectors.

Key brands: Lenz, Gerber

Key strategies: The company focuses on sustainable innovation in kitchen and bath products, emphasizing water-saving designs and eco-friendly manufacturing. The company enhances user experience through patented technologies like QuickDock and SecureConX and maintains high-quality standards with global certifications.

Masco Corporation: Masco Corporation is a manufacturer of home improvement and building products. The company specializes in plumbing and decorative architectural solutions, catering to both residential remodeling and new construction markets. Many of its products integrate advanced features such as touchless technology, water-saving mechanisms, and magnetic docking for sprayers, enhancing convenience and efficiency.

Key brands: Newport Brass, Bristan, Hansgrohe, Delta Faucet Company

Key strategies: The company focuses on three core strategies: maximizing the potential of its core businesses, pursuing strategic acquisitions and divestitures, and driving shareholder value through operational efficiency and disciplined capital allocation. The company emphasizes innovation in home improvement products, particularly in plumbing and decorative architectural segments, while advancing sustainability goals such as reducing greenhouse gas emissions by 50% by 2030.

Strategy Mapping

New Product Launches:

Product launches, brand introductions, and collection expansions aid in refreshing consumer interest, meeting evolving trends, and sustaining brand relevance. These strategies allow companies to cater to diverse consumer needs, maintain competitiveness, and capitalize on market shifts, ensuring long-term success and customer loyalty.

Market players adopting this strategy include GROHE, American Standard, Kohler Co., and Kraus, USA, Delta Faucet Company.

Collaborations:

Collaborations in the market bring together the strengths, expertise, and customer bases of two or more brands, amplifying market reach and brand credibility. They enable access to diverse consumer segments, foster innovation through shared resources, and often create unique product offerings that cater to evolving consumer preferences. Such alliances can also enhance brand resonance and adaptability in a competitive and ever-evolving industry.

Market players engaged in collaborations include Kohler Co.

Partnerships:

Partnerships enable companies to leverage complementary strengths, share resources, and co-develop innovative solutions, enhancing competitiveness and market reach. They provide access to new technologies, distribution channels, and customer bases without full ownership risks. Strategic collaborations foster brand visibility, operational efficiency, and faster adaptation to market trends, supporting long-term growth and resilience.

Market players engaged in this strategy include Kohler Co.

Participation In Trade Shows:

Engaging in trade shows facilitates direct product showcasing to a diverse and industry-specific audience. These events serve as valuable platforms for networking, fostering partnerships, and gauging market trends, ultimately aiding in brand exposure and market expansion.

Market players adopting this strategy include Kohler Co.

Companies participating in trade shows