Global Electric Taps Market size was valued at US$ 550.19 Mn. in 2022 and the total revenue is expected to grow at CAGR 11.4% through 2023 to 2029, reaching nearly US$ 1171.42 Mn.Electric Taps Market Overview:
Electric Taps uses electricity and work on the basis of sensors and heating coils. It has an electrically operated heating coil to heat the water. Electric taps are usually designed with a low flow rate, an aerator in the spout, and a system that prevents leakage. It helps in saving water and energy bills. On average traditional tap can waste water more than 300 ml to 1 loiter per hour while electric taps prevent total leakage and conserve the water.To know about the Research Methodology :- Request Free Sample Report
Market Dynamics:
The growth in the construction and smart house need is expected to drive up the Electric Taps Market. The overall growth of residential and commercial infrastructure is also expected to fuel the product’s demand. National Association of Realtors (NAR) reported that the existing homes sales across the US are increased by 22% from 2019 and reached 6.76 million in Dec 2020. Thus noteworthy demand for homes is resulting in the growth of sales for Electric Taps in the global market. Several institutes have already started the installation of touchless taps in washrooms to avoid public contact and the spread of the disease. Owing to hygienic concerns, the market for Touchless Taps is expected to grow significantly during the forecast period. The initial cost of these products is high, which is a major restraint. It also needs an additional connection for installation which further increases the cost.Electric Taps Market Segment Analysis:
Based on the product type the market is segmented into Touchless and Instant Heating types. The touchless segment captured the largest product segment, accounted for xx% of the market share in 2022, and is expected to grow with the highest CAGR of 10.27% during the forecast period. Touchless taps are commonly known for their touchless on/off feature that helps to conserve water. Whenever a hand or object appears in front of the tap, it automatically lets out the flow of water according to object movement. This completely eradicates the need for human contact and helps in avoiding the transformation of germs by getting into physical contact with the taps in public use. The Instant Heating segment is expected to grow significantly with a CAGR of xx% during the forecast period. This segment tap has a low operational cost compared to traditional geysers. Based on the Mounted type, the market is segmented into Wall Mounted and Deck Mounted taps. Wall Mounted segment held the largest share of market in 2022 and accounted CAGR of 9.36% during forecast period. Usually it is known for its modern and synthetic looks. The Deck Mounted segment also known as Surface Mounted taps. This segment is expected to witness a steady growth rate owing to installation on the worktop rather than on the wall. Based on Application, the market is segmented Commercial and Residential applications. Commercial segment has dominated the Electric Taps Market in 2022 and held the 67.19% of global market share. Thanks to increased use of Electric Taps in hotels, theatres, malls, airports and similar infrastructure, which drives the demand of product across global market. As growing demand for this segment, manufacturers are focusing on the introduction of the advanced technology for the product, which fuel high growth rate for this segment. Residential segment is estimated to grow with highest CAGR of 12.4% during forecast period. Increase in disposable income of people resulted into smart home construction with preference of smart bathrooms and kitchens is expected to grow demand in market.
Regional Insights:
Asia Pacific region is the largest Electric Taps Market consumer in the world and has accounted 34.79% of market share in 2022.The significantly growing construction in China, India, Japan, and South Korea is expected to boost the demand of Electric Taps. North America is expected to witness significant growth rate during forecast period. The growth in the region is supported by the presence of major producers and high demand in the region. Middle East and Africa and South Africa are expected to witness steady growth rate due to urbanization, low electricity consumption and health concerns. The objective of the report is to present a comprehensive analysis of the Electric Taps Market to the stakeholders in the industry. The past and current status of the industry with the forecasted market size and trends are presented in the report with the analysis of complicated data in simple language. The report covers all the aspects of the industry with a dedicated study of key players that include market leaders, followers, and new entrants. PORTER, PESTEL analysis with the potential impact of micro-economic factors of the market have been presented in the report. External as well as internal factors that are supposed to affect the business positively or negatively have been analyzed, which will give a clear futuristic view of the industry to the decision-makers. The reports also helps in understanding the Electric Taps Market dynamic, structure by analyzing the market segments and project the Electric Taps Market size. Clear representation of competitive analysis of key players by product, price, financial position, product portfolio, growth strategies, and regional presence in the Electric Taps Market make the report investor’s guide.Electric Taps Market Scope: Inquire before buying
Electric Taps Market Report Coverage Details Base Year: 2022 Forecast Period: 2023-2029 Historical Data: 2018 to 2022 Market Size in 2022: US $ 550.19 Mn. Forecast Period 2023 to 2029 CAGR: 11.4% Market Size in 2029: US $ 1171.42 Mn. Segments Covered: by Product type Touchless Instant Heating by Mounted type Deck Mounted Wall Mounted by Application Commercial Residential Electric Taps Market, by Region
North America (United States, Canada and Mexico) Europe (UK, France, Germany, Italy, Spain, Sweden, Austria and Rest of Europe) Asia Pacific (China, South Korea, Japan, India, Australia, Indonesia, Malaysia, Vietnam, Taiwan, Bangladesh, Pakistan and Rest of APAC) Middle East and Africa (South Africa, GCC, Egypt, Nigeria and Rest of ME&A) South America (Brazil, Argentina Rest of South America)Electric Taps Market Key Players are:
1. Cera Sanitaryware Limited 2. Fortune Brands Home & Security 3. Inc. (Moen) 4. Jaquar 5. Kohler Co. 6. LIXIL Group Corporation 7. Masco Corporation (Delta Faucet Company) 8. Taizhou Hengyida Plastic Plumbing Factory (Zhenhao) 9. TOTO Ltd. 10.Wenzhou Bomei Sanitary Ware Co. 11.Xiaomi Corporation 12.Havells India Ltd. 13.Lorenzetti 14.RT Large 15.Topline 16.Altima Hi Tech Private LimitedFrequently Asked Questions:
1] What segments are covered in Electric Taps Market report? Ans. The segments covered in Electric Taps Market report are based on Product type, Mounted type and Application. 2] Which region is expected to hold the highest share in the Electric Taps Market? Ans. Asia Pacific Region is expected to hold the highest share in the Electric Taps Market. 3] What is the market size of Electric Taps Market by 2029? Ans. The market size of Electric Taps Market by 2029 is US $ 1171.42 Mn. 4] Who are the top key players in the Electric Taps Market? Ans. Cera Sanitaryware Limited, Fortune Brands Home & Security, Inc. (Moen), Jaquar, Kohler Co., LIXIL Group Corporation, Masco Corporation (Delta Faucet Company), Taizhou Hengyida Plastic Plumbing Factory (Zhenhao), TOTO Ltd., Wenzhou Bomei Sanitary Ware Co., Ltd. and Xiaomi Corporation, Havells India Ltd., Lorenzetti, RT Large, Topline, Altima Hi Tech Private Limited. 5] What was the market size of Electric Taps Market in 2022? Ans. The market size of Electric Taps Market in 2022 was US $ 550.19 Mn.
1. Preface 1.1. Market Definition and Key Research Objectives 1.2. Research Highlights 2. Assumptions and Research Methodology 2.1. Report Assumptions 2.2. Abbreviations 2.3. Research Methodology 2.3.1. Secondary Research 2.3.1.1. Secondary data 2.3.1.2. Secondary Sources 2.3.2. Primary Research 2.3.2.1. Data from Primary Sources 2.3.2.2. Breakdown of Primary Sources 3. Executive Summary: Electric Taps Market Size, by Market Value (US$ Bn) 3.1. Global Market Segmentation 3.2. Global Market Segmentation Share Analysis, 2022 3.2.1. Global 3.2.2. By Region (North America, Europe, Asia Pacific, South America, Middle East Africa) 3.3. Geographical Snapshot of the Electric Taps Market 3.4. Geographical Snapshot of the Electric Taps Market , By Manufacturer share 4. Electric Taps Market Overview, 2022-2029 4.1. Market Dynamics 4.1.1. Drivers 4.1.1.1. Global 4.1.1.2. By Region (North America, Europe, Asia Pacific, South America, Middle East Africa) 4.1.2. Restraints 4.1.2.1. Global 4.1.2.2. By Region (North America, Europe, Asia Pacific, South America, Middle East Africa) 4.1.3. Opportunities 4.1.3.1. Global 4.1.3.2. By Region (North America, Europe, Asia Pacific, South America, Middle East Africa) 4.1.4. Challenges 4.1.4.1. Global 4.1.4.2. By Region (North America, Europe, Asia Pacific, South America, Middle East Africa) 4.1.5. Industry Trends and Emerging Technologies 4.1.6. Porters Five Forces Analysis 4.1.6.1. Threat of New Entrants 4.1.6.2. Bargaining Power of Buyers/Consumers 4.1.6.3. Bargaining Power of Suppliers 4.1.6.4. Threat of Substitute Products 4.1.6.5. Intensity of Competitive Rivalry 4.1.7. Value Chain Analysis 4.1.8. Technological Roadmap 4.1.9. Regulatory landscape 4.1.10. Impact of the Covid-19 Pandemic on the Electric Taps Market 5. Supply Side and Demand Side Indicators 6. Electric Taps Market Analysis and Forecast, 2022-2029 6.1. Electric Taps Market Size & Y-o-Y Growth Analysis. 7. Electric Taps Market Analysis and Forecasts, 2022-2029 7.1. Market Size (Value) Estimates & Forecast By Product type, 2022-2029 7.1.1. Touchless 7.1.2. Instant Heating 7.2. Market Size (Value) Estimates & Forecast By Mounted type, 2022-2029 7.2.1. Deck Mounted 7.2.2. Wall Mounted 7.3. Market Size (Value) Estimates & Forecast By Application, 2022-2029 7.3.1. Commercial 7.3.2. Residential 7.4. Market Size (Value) Estimates & Forecast By Region, 2022-2029 7.4.1. North America 7.4.2. Europe 7.4.3. Asia-Pacific 7.4.4. Middle East & Africa 7.4.5. South America 8. Electric Taps Market analysis and Forecasts, by Region 8.1. Market Size (Value) Estimates & Forecast by Region, 2022-2029 8.1.1. North America 8.1.2. Europe 8.1.3. Asia Pacific 8.1.4. Middle East and Africa 8.1.5. South America 9. North America Electric Taps Market Analysis and Forecasts, 2022-2029 9.1. Market Size (Value) Estimates & Forecast By Product type, 2022-2029 9.1.1. Touchless 9.1.2. Instant Heating 9.2. Market Size (Value) Estimates & Forecast By Mounted type, 2022-2029 9.2.1. Deck Mounted 9.2.2. Wall Mounted 9.3. Market Size (Value) Estimates & Forecast By Application, 2022-2029 9.3.1. Commercial 9.3.2. Residential 10. North America Electric Taps Market Analysis and Forecasts, By Country 10.1. Market Size (Value) Estimates & Forecast By Country, 2022-2029 10.1.1. US 10.1.2. Canada 10.1.3. Mexico 11. U.S. Electric Taps Market Analysis and Forecasts, 2022-2029 11.1. Market Size (Value) Estimates & Forecast By Product type, 2022-2029 11.2. Market Size (Value) Estimates & Forecast By Mounted type,2022-2029 11.3. Market Size (Value) Estimates & Forecast By Application, 2022-2029 12. Canada Electric Taps Market Analysis and Forecasts, 2022-2029 12.1. Market Size (Value) Estimates & Forecast By Product type, 2022-2029 12.2. Market Size (Value) Estimates & Forecast By Mounted type,2022-2029 12.3. Market Size (Value) Estimates & Forecast By Application, 2022-2029 13. Mexico Electric Taps Market Analysis and Forecasts, 2022-2029 13.1. Market Size (Value) Estimates & Forecast By Product type, 2022-2029 13.2. Market Size (Value) Estimates & Forecast By Mounted type,2022-2029 13.3. Market Size (Value) Estimates & Forecast By Application, 2022-2029 14. Europe Electric Taps Market Analysis and Forecasts, 2022-2029 14.1. Market Size (Value) Estimates & Forecast By Product type, 2022-2029 14.2. Market Size (Value) Estimates & Forecast By Mounted type,2022-2029 14.3. Market Size (Value) Estimates & Forecast By Application, 2022-2029 15. Europe Electric Taps Market Analysis and Forecasts, By Country 15.1. Market Size (Value) Estimates & Forecast By Country, 2022-2029 15.1.1. U.K 15.1.2. France 15.1.3. Germany 15.1.4. Italy 15.1.5. Spain 15.1.6. Sweden 15.1.7. CIS Countries 15.1.8. Rest of Europe 16. U.K. Electric Taps Market Analysis and Forecasts, 2022-2029 16.1. Market Size (Value) Estimates & Forecast By Product type, 2022-2029 16.2. Market Size (Value) Estimates & Forecast By Mounted type,2022-2029 16.3. Market Size (Value) Estimates & Forecast By Application, 2022-2029 17. France Electric Taps Market Analysis and Forecasts, 2022-2029 17.1. Market Size (Value) Estimates & Forecast By Product type, 2022-2029 17.2. Market Size (Value) Estimates & Forecast By Mounted type,2022-2029 17.3. Market Size (Value) Estimates & Forecast By Application, 2022-2029 18. Germany Electric Taps Market Analysis and Forecasts, 2022-2029 18.1. Market Size (Value) Estimates & Forecast By Product type, 2022-2029 18.2. Market Size (Value) Estimates & Forecast By Mounted type,2022-2029 18.3. Market Size (Value) Estimates & Forecast By Application, 2022-2029 19. Italy Electric Taps Market Analysis and Forecasts, 2022-2029 19.1. Market Size (Value) Estimates & Forecast By Product type, 2022-2029 19.2. Market Size (Value) Estimates & Forecast By Mounted type,2022-2029 19.3. Market Size (Value) Estimates & Forecast By Application, 2022-2029 20. Spain Electric Taps Market Analysis and Forecasts, 2022-2029 20.1. Market Size (Value) Estimates & Forecast By Product type, 2022-2029 20.2. Market Size (Value) Estimates & Forecast By Mounted type,2022-2029 20.3. Market Size (Value) Estimates & Forecast By Application, 2022-2029 21. Sweden Electric Taps Market Analysis and Forecasts, 2022-2029 21.1. Market Size (Value) Estimates & Forecast By Product type, 2022-2029 21.2. Market Size (Value) Estimates & Forecast By Mounted type,2022-2029 21.3. Market Size (Value) Estimates & Forecast By Application, 2022-2029 22. CIS Countries Electric Taps Market Analysis and Forecasts, 2022-2029 22.1. Market Size (Value) Estimates & Forecast By Product type, 2022-2029 22.2. Market Size (Value) Estimates & Forecast By Mounted type,2022-2029 22.3. Market Size (Value) Estimates & Forecast By Application, 2022-2029 23. Rest of Europe Electric Taps Market Analysis and Forecasts, 2022-2029 23.1. Market Size (Value) Estimates & Forecast By Product type, 2022-2029 23.2. Market Size (Value) Estimates & Forecast By Mounted type,2022-2029 23.3. Market Size (Value) Estimates & Forecast By Application, 2022-2029 24. Asia Pacific Electric Taps Market Analysis and Forecasts, 2022-2029 24.1. Market Size (Value) Estimates & Forecast By Product type, 2022-2029 24.2. Market Size (Value) Estimates & Forecast By Mounted type,2022-2029 24.3. Market Size (Value) Estimates & Forecast By Application, 2022-2029 25. Asia Pacific Electric Taps Market Analysis and Forecasts, by Country 25.1. Market Size (Value) Estimates &Forecast By Country, 2022-2029 25.1.1. China 25.1.2. India 25.1.3. Japan 25.1.4. South Korea 25.1.5. Australia 25.1.6. ASEAN 25.1.7. Rest of Asia Pacific 26. China Electric Taps Market Analysis and Forecasts, 2022-2029 26.1. Market Size (Value) Estimates & Forecast By Product type, 2022-2029 26.2. Market Size (Value) Estimates & Forecast By Mounted type,2022-2029 26.3. Market Size (Value) Estimates & Forecast By Application, 2022-2029 27. India Electric Taps Market Analysis and Forecasts, 2022-2029 27.1. Market Size (Value) Estimates & Forecast By Product type, 2022-2029 27.2. Market Size (Value) Estimates & Forecast By Mounted type,2022-2029 27.3. Market Size (Value) Estimates & Forecast By Application, 2022-2029 28. Japan Electric Taps Market Analysis and Forecasts, 2022-2029 28.1. Market Size (Value) Estimates & Forecast By Product type, 2022-2029 28.2. Market Size (Value) Estimates & Forecast By Mounted type,2022-2029 28.3. Market Size (Value) Estimates & Forecast By Application, 2022-2029 29. South Korea Electric Taps Market Analysis and Forecasts, 2022-2029 29.1. Market Size (Value) Estimates & Forecast By Product type, 2022-2029 29.2. Market Size (Value) Estimates & Forecast By Mounted type,2022-2029 29.3. Market Size (Value) Estimates & Forecast By Application, 2022-2029 30. Australia Electric Taps Market Analysis and Forecasts, 2022-2029 30.1. Market Size (Value) Estimates & Forecast By Product type, 2022-2029 30.2. Market Size (Value) Estimates & Forecast By Mounted type,2022-2029 30.3. Market Size (Value) Estimates & Forecast By Application, 2022-2029 31. ASEAN Electric Taps Market Analysis and Forecasts, 2022-2029 31.1. Market Size (Value) Estimates & Forecast By Product type, 2022-2029 31.2. Market Size (Value) Estimates & Forecast By Mounted type,2022-2029 31.3. Market Size (Value) Estimates & Forecast By Application, 2022-2029 32. Analysis and Forecasts, 2022-2029 32.1. Market Size (Value) Estimates & Forecast By Product type, 2022-2029 32.2. Market Size (Value) Estimates & Forecast By Mounted type,2022-2029 32.3. Market Size (Value) Estimates & Forecast By Application, 2022-2029 33. Middle East Africa Electric Taps Market Analysis and Forecasts, 2022-2029 33.1. Market Size (Value) Estimates & Forecast By Product type, 2022-2029 33.2. Market Size (Value) Estimates & Forecast By Mounted type,2022-2029 33.3. Market Size (Value) Estimates & Forecast By Application, 2022-2029 34. Middle East Africa Electric Taps Market Analysis and Forecasts, by Country 34.1. Market Size (Value) Estimates & Forecast by Country, 2022-2029 34.1.1. South Africa 34.1.2. GCC Countries 34.1.3. Egypt 34.1.4. Nigeria 34.1.5. Rest of ME&A 35. South Africa Electric Taps Market Analysis and Forecasts, 2022-2029 35.1. Market Size (Value) Estimates & Forecast By Product type, 2022-2029 35.2. Market Size (Value) Estimates & Forecast By Application, 2022-2029 36. GCC Countries Electric Taps Market Analysis and Forecasts, 2022-2029 36.1. Market Size (Value) Estimates & Forecast By Product type, 2022-2029 36.2. Market Size (Value) Estimates & Forecast By Mounted type,2022-2029 36.3. Market Size (Value) Estimates & Forecast By Application, 2022-2029 37. Egypt Electric Taps Market Analysis and Forecasts, 2022-2029 37.1. Market Size (Value) Estimates & Forecast By Product type, 2022-2029 37.2. Market Size (Value) Estimates & Forecast By Mounted type,2022-2029 37.3. Market Size (Value) Estimates & Forecast By Application, 2022-2029 38. Nigeria Electric Taps Market Analysis and Forecasts, 2022-2029 38.1. Market Size (Value) Estimates & Forecast By Product type, 2022-2029 38.2. Market Size (Value) Estimates & Forecast By Mounted type,2022-2029 38.3. Market Size (Value) Estimates & Forecast By Application, 2022-2029 39. Rest of ME&A Electric Taps Market Analysis and Forecasts, 2022-2029 39.1. Market Size (Value) Estimates & Forecast By Product type, 2022-2029 39.2. Market Size (Value) Estimates & Forecast By Mounted type,2022-2029 39.3. Market Size (Value) Estimates & Forecast By Application, 2022-2029 40. South America Electric Taps Market Analysis and Forecasts, 2022-2029 40.1. Market Size (Value) Estimates & Forecast By Product type, 2022-2029 40.2. Market Size (Value) Estimates & Forecast By Mounted type,2022-2029 40.3. Market Size (Value) Estimates & Forecast By Application, 2022-2029 41. South America Electric Taps Market Analysis and Forecast, by country 41.1. Market Size (Value) Estimates & Forecast by Country, 2022-2029 41.1.1. Brazil 41.1.2. Argentina 41.1.3. Rest of South America 42. Brazil Electric Taps Market Analysis and Forecasts, 2022-2029 42.1. Market Size (Value) Estimates & Forecast By Product type, 2022-2029 42.2. Market Size (Value) Estimates & Forecast By Mounted type,2022-2029 42.3. Market Size (Value) Estimates & Forecast By Application, 2022-2029 43. Argentina Electric Taps Market Analysis and Forecasts, 2022-2029 43.1. Market Size (Value) Estimates & Forecast By Product type, 2022-2029 43.2. Market Size (Value) Estimates & Forecast By Mounted type,2022-2029 43.3. Market Size (Value) Estimates & Forecast By Application, 2022-2029 44. Rest of South America Electric Taps Market Analysis and Forecasts, 2022-2029 44.1. Market Size (Value) Estimates & Forecast By Product type, 2022-2029 44.2. Market Size (Value) Estimates & Forecast By Mounted type,2022-2029 44.3. Market Size (Value) Estimates & Forecast By Application, 2022-2029 45. Competitive Landscape 45.1. Geographic Footprint of Major Players in the Electric Taps Market 45.2. Competition Matrix 45.2.1. Competitive Benchmarking of Key Players By Price, Presence, Market Share, Applications and R&D Investment 45.2.2. New Product Launches and Product Enhancements 45.2.3. Market Consolidation 45.2.3.1. M&A by Regions, Investment and Verticals 45.2.3.2. M&A, Forward Integration and Backward Integration 45.2.3.3. Partnership, Joint Ventures and Strategic Alliances/ Sales Agreements 45.3. Company Profile : Key Players 45.3.1. Cera Sanitaryware Limited 45.3.1.1. Company Overview 45.3.1.2. Financial Overview 45.3.1.3. Geographic Footprint 45.3.1.4. Product Portfolio 45.3.1.5. Business Strategy 45.3.1.6. Recent Developments 45.3.2. Fortune Brands Home & Security 45.3.3. Inc. (Moen) 45.3.4. Jaquar 45.3.5. Kohler Co. 45.3.6. LIXIL Group Corporation 45.3.7. Masco Corporation (Delta Faucet Company) 45.3.8. Taizhou Hengyida Plastic Plumbing Factory (Zhenhao) 45.3.9. TOTO Ltd. 45.3.10. Wenzhou Bomei Sanitary Ware Co. 45.3.11. Xiaomi Corporation 45.3.12. Havells India Ltd. 45.3.13. Lorenzetti 45.3.14. RT Large 45.3.15. Topline 45.3.16. Altima Hi Tech Private Limited 46. Primary Key Insights