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Electric Taps Market is expected to grow CAGR of 10.7% by 2028
Fortune Business Insights recently released “The Electric Taps Market Report 2024,” offering in-depth market analysis and critical insights to help clients gain a competitive edge. This comprehensive study delivers key findings for strategic advantage.
Electric Taps Market Share, Size & COVID-19 Impact Analysis, By Type (Instant Heating, Touchless), By Mounting Type (Deck-mounted, Wall-mounted), By Application (Commercial, Residential), and Regional Forecast, 2021-2028
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The market’s competitive landscape for electric taps market is evaluated by analyzing key industry players, their production capacities and utilization rates, electric taps marketM’s production chain, manufacturer pricing, and the revenue each manufacturer generates globally in the electric taps marketM sector.
Major companies of electric taps market:
- LIXIL Corporation (Tokyo, Japan)
- Masco Corporation (Michigan, U.S.)
- Wenzhou Bomei Sanitary Ware Co., Ltd (Zhejiang, China)
- Jaquar (Gurgaon, India)
- Kohler Co. (Wisconsin, U.S.)
- Taizhou Hengyida Plastic Plumbing Factory (Zhejiang, China)
- Toto Ltd. (Fukuoka, Japan)
- Euronics Industries Pvt Ltd (Gurgaon, India)
- Havells India Ltd. (Uttar Pradesh, India)
- Fortune Brands Home & Security, Inc. (Illinois, U.S.)
Market atributes:
| Report Componant | Aspects |
| Forecast Period | 2020-2028 |
| Projected Market Value for 2020: | USD 396.9 million |
| Forecasted Market Value for 2028: | USD 877.2 million |
| Compound Annual Growth Rate (CAGR): | 10.7 |
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Key Drivers and restraints:
- Drivers:
- Increasing Demand for Hygiene: Rising awareness of hygiene and the need for touchless solutions drive the adoption of electric taps, which minimize contact and reduce the spread of germs.
- Technological Advancements: Innovations in sensor technology and smart controls enhance the functionality and convenience of electric taps, making them more attractive to consumers and businesses.
- Growth in Commercial and Public Facilities: The expansion of commercial spaces, public restrooms, and healthcare facilities drives demand for electric taps that offer high standards of hygiene and ease of use.
- Focus on Water Conservation: Electric taps equipped with flow control and automatic shut-off features contribute to water conservation efforts, aligning with global sustainability goals and regulations.
- Urbanization and Modernization: Increasing urbanization and modernization of residential and commercial buildings create a higher demand for contemporary and efficient fixtures like electric taps.
- Restraints:
- High Initial Costs: The higher upfront cost of electric taps compared to traditional taps can be a barrier for adoption, especially in price-sensitive markets.
- Maintenance and Repair Challenges: Electric taps require regular maintenance and can experience technical issues, leading to additional costs and potential operational disruptions.
- Power Dependency: Electric taps rely on a stable power supply, which can be a limitation in areas with frequent power outages or unreliable electrical infrastructure.
- Complex Installation: The installation of electric taps can be more complex and require professional expertise, which may increase overall installation costs and time.
- Technological Obsolescence: Rapid advancements in technology may lead to obsolescence of existing models, necessitating frequent updates or replacements to stay current with market trends.
Regional atributes:
- North America (Type, Mounting Type, Application and Country)
- U.S. (By Application, Commercial)
- Canada (By Application, Commercial)
- Mexico (By Application, Commercial)
- Europe (Type, Mounting Type, Application, Commercial Application, and Country)
- United Kingdom (By Application, Commercial)
- Germany (By Application, Commercial)
- France (By Application, Commercial)
- Italy (By Application, Commercial)
- Spain (By Application, Commercial)
- Russia (By Application, Commercial)
- Benelux (By Application, Commercial)
- Nordics (By Application, Commercial)
- Rest of Europe
- Asia Pacific (Type, Mounting Type, Application, Commercial Application, and Country)
- China (By Application, Commercial)
- India (By Application, Commercial)
- Japan (By Application, Commercial)
- South Korea (By Application, Commercial)
- ASEAN (By Application, Commercial)
- Oceania (By Application, Commercial)
- Rest of Asia Pacific
- The Middle East & Africa (Type, Mounting Type, Application, Commercial Application, and Country)
- Turkey (By Application, Commercial)
- Israel (By Application, Commercial)
- GCC (By Application, Commercial)
- North Africa (By Application, Commercial)
- South Africa (By Application, Commercial)
- Rest of the Middle East & Africa
- South America (Type, Mounting Type, Application, Commercial Application, and Country)
- Brazil (By Application, Commercial)
- Argentina (By Application, Commercial)
- Rest of South America
Industry developments:
- March 2021: – Jaguar introduced wall and deck mounted ‘Blush Sensor Faucets,’ a smart design that integrates quick-response and high-accuracy sensors right into the spout. It is specifically suitable for commercial bathroom spaces.
- July 2018: Kohler Co. launched its 1st ‘Tech Centre’ in Gujarat, India. The tech center displays industry-leading product designs. The company has invested nearly USD 200.0 million in India up till now.
Table of Content :
- Introduction
- Research Scope
- Market Segmentation
- Research Methodology
- Definitions and Assumptions
- Executive Summary
- Market Dynamics
- Market Drivers
- Market Restraints
- Market Opportunities
- Key Insights
- Key Industry Developments – Merger, Acquisitions, and Partnerships
- Porter’s Five Forces Analysis
- SWOT Analysis
- Technological Developments
- Value Chain Analysis
TOC Continued…!
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