Kitchen Faucets Market: Size, Dynamics, Regional Insights, and Market Segment Analysis

Kitchen Faucets Market was valued at USD 24.47 Bn. in 2023, and it is expected to reach USD 39.81 Bn. by 2030, exhibiting a CAGR of 7.2% during the forecast period (2024-2030)
Market Overview:
Kitchen Faucets Market size is expected to witness significant growth over 2024-2030 due to the increasing application of faucets in modernized kitchens to make them more aesthetically appealing. The growing customer preference toward functional kitchens along with easy-to-use faucets is likely to boost the market’s growth. Moreover, rapidly changing preferences of customers coupled with improving lifestyles are driving decent investment in remodelling homes, thereby positively influencing the market outlook.
Research Methodology
MMR presents a detailed picture of the market by way of study, synthesis, and summation of data from multiple sources. The analysts have presented the various kitchen faucets of the market with a particular focus on identifying the key industry influencers. The data thus presented is comprehensive, reliable, and the result of extensive research, both primary and secondary. The research is based on extensive qualitative and quantitative studies that assist in validating the precise Market value. Primary interviews, surveys, and vendor briefings are all part of the qualitative study. The study also provides the size of the kitchen faucets Market projection from 2024 to 2030, as determined by secondary research, and their revenues are examined in report. The information is then reviewed and confirmed using sources.

Estimating market size necessitated a thorough evaluation of product attributes, technical advancements, geographical presence, product demand, sales data (value or volume), historical year-on-year growth, and other criteria. Other approaches for calculating market size and estimates were also utilized. When no actual data was available, MMR employed modelling techniques to construct complete databases.To know about the Research Methodology :- Request Free Sample Report
Kitchen Faucets Market Dynamics
Market Growth Drivers:

One of the key reasons fuelling the growth of the kitchen faucets market is the alteration in people's lifestyles throughout the world. The increased use of contemporary kitchens, rising desire for practical kitchens, and aesthetic appeal all contribute to the market's growth. The market is also influenced by customer preferences for comfort, ease, and compactness when purchasing goods as well as the availability of diverse material and design combinations to meet consumer demand for personalized faucets. Additionally, the market for kitchen faucets is favourably impacted by the rise in disposable income, the incorporation of sensors and other features into the product, the adoption of e-commerce sales channels, clever strategic marketing initiatives, and changing customer tastes. Additionally, in the projection period of 2024 to 2030, the market participants will have lucrative opportunities due to the development of smart goods for smart user experiences.

Growing Demand for Modernized Kitchens to Support Kitchen Faucet Market Growth

The kitchen faucets market is booming, with traditional kitchen faucet providers concentrating on creating cutting-edge faucets that will attract a sizable client base and facilitate the market's growth. Customers are demanding modern kitchens, thus market participants who supply faucets are now concentrating on producing faucets that satisfy the demand for increased quality, durability, and attractiveness. Additionally, the demand for luxury homes has increased as a result of rising spending on renovations and luxury homes due to changing consumer preferences and bettering lifestyles. Customers frequently choose the bar faucet even if kitchen faucets are more user-friendly and less expensive. The market growth of kitchen faucets will be accelerated by this trend, which is driving up demand for kitchen faucets.

Usage of Hands-Free Faucets Powered By Technology Is Driving the Market

Customers all over the world are currently asking for kitchen faucets that are more upscale, cozy. In the home market, electronic water fixtures are also experiencing improvements and setting new standards. The standards for hands-free faucets have been established by sensor-produced hand-free faucets. Additionally, it is anticipated that many consumers would adopt hands-free faucets in the future. Furthermore, a larger customer base will be attracted throughout the projected period by the increasing trend of traditional kitchen faucet manufacturers concentrating on the manufacturing of advanced faucets.The leading prominent market players that are active in the pull-out and pull-down kitchen faucet industry are primarily concentrating on cutting-edge technology and cutting-edge designs to enhance their market positions and increase their percentage of the global market. Recently, faucet manufacturers such as Moen, Kohler, Delta, and others have begun to provide hands-free or touchless faucets. Because they help consumers save water and are handy, these automated faucets are developed and sold more frequently. Reputable producers of plumbing items also provide Wi-Fi, clap, and wave technologies. A few businesses have also begun to take action to save water and raise awareness of the water situation. They accomplish this by limiting kitchen faucets flow rates.

Moen launched a voice-activated faucet and water detection in its expanding U by Moen product range, complementing its digital shower system, which just got Google Assistant compatibility. They can also execute additional activities using digital assistants like Alexa and Google Assistant, or use the wave sensor to turn off the water with a simple hand gesture. The wave sensor's LED changes colour from blue to purple to red to show whether the water is heating or cooling, and a lever on the side of the faucet allows for manual temperature adjustment.
Kitchen Faucets Market Segment Analysis
By Type, The market for kitchen faucets is segmented into pull-out, pull-down, single-handle, dual-handle, separate spray, pot filler, motion detection, and other types. The warm and cool water levers on a dual-handle kitchen faucet are independent. Although they are often positioned a few inches apart from one another, these two handles are typically joined to the same centre component. With two handles on a kitchen faucet, people can manage the water temperature as well as switch off the leaky handle while still getting water from the second handle in the event of a leak.

By Installation Type, Wall mount and deck mount are the two main installation types in the market. The most popular style of kitchen faucet is the deck mount since it is simple to install and reasonably priced. When there is not enough room to install wall-mounted kitchen faucets, deck mount kitchen faucets are employed. Deck mount kitchen faucets are also available in a variety of designs, measurements, and forms, offering consumers additional alternatives and boosting market demand.

By Material, The kitchen faucets market is segmented by material, which includes chrome, stainless steel, brass, and others. Because of its resistance to soft-water corrosion and hard-water calcification, brass-based kitchen faucets typically survive for many years. The use of brass-based kitchen faucets improves the visual appeal of the kitchen, making it more inviting to consumers. Because of its low cost and ease of cleaning, stainless steel is an excellent choice for kitchen faucets. However, it is more prone to rust, necessitating more frequent maintenance.
Kitchen Faucets Market Regional Insights
North America is expected to grow at a CAGR of 7.4% during the forecast period (2024-2030). The increased expenditure on household renovations and repairs by consumers across North America is primarily responsible for market growth. During the projection period. The market's growth is mostly due to increasing expenditure on household renovations and repairs by consumers across North America. The surge in commercial building development has spurred the need for kitchen faucets.

Throughout the forecast, the kitchen faucets market is expected to grow in Europe. The increased demand for kitchen faucets is being driven by extensive renovation and the growing trend toward outdoor kitchens. The market for kitchen faucets is expected to grow as a result of outdoor kitchens and outdoor eating boosting the entire kitchen faucet market.

The Asia Pacific kitchen faucets market is expected to grow considerably during the forecast period, owing to the region's rising urbanization and growing middle-class population. The rising demand for elegant residential flats, along with increased awareness about water use, is driving the introduction of extremely efficient kitchen faucets. The ease of government rules governing foreign investment in developing nations such as China, India, Malaysia, and Vietnam is influencing the market size. Furthermore, the increased use of innovative technologies in kitchen faucets to improve the appearance of the kitchen would boost market revenue.

Indian market increased to over $2.5 billion in 2022, according to MMR research. And one of the top manufacturers of kitchen faucets is Nivito India. During the forecast period, it is also anticipated that the public housing policy for provincial regions, foreign investment in the industrial sector, inexpensive housing credits, and growth in the urban population would spark interest in additional faucets in the northern and western regions. During the forecast period, it is anticipated that urban regions like Delhi, Mumbai, Bangalore, and Pune would generate the most notable amounts of cash due to the establishment of economic zones, retail malls, and private businesses. Here, there is a great need for steel water taps, kitchen sink taps, and showers.
Kitchen Faucets Market Scope: Inquire before buying



Kitchen Faucets Market


Report Coverage
Details


Base Year:
2023
Forecast Period:
2024-2030


Historical Data:
2018 to 2023
Market Size in 2023:
US $ 24.47 Bn.


Forecast Period 2024 to 2030 CAGR:
7.2%
Market Size in 2030:
US $ 39.81 Bn.


 Segments Covered:
by Type
Pull-Down Faucet
Pull-Out Faucet
Hands-Free
Bar Faucets
Pot Filters
With Sprayer
Others


by Installation Type
Deck Mount
Wall Mount


by Material
Chrome
Stainless Steel
Bronze
Plastic
Others



Kitchen Faucets 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)
Kitchen Faucets Market, Key Players are
1. Lixil Group (Japan)
2. Toto Ltd. (Japan)
3. INAX (Japan)
4. Kohler Co. (US)
5. Moen Incorporated (US)
6. GESSI SPA (US)
7. LATOSCANA (US)
8. Matco-Norca (US)
9. Pfister (US)
10. Delta Faucet Company (US)
11. Chicago Faucets (US)
12. American Standard (US)
13. Elkay (US)
14. Waterstone Faucets (US)
15. VIGO Industries (US)
16. Peerless Faucet Company (US)
17. House of Rohl (US)
18. Hansgrohe SE (Germany)
19. Dornbracht (Germany)
20. Kludi GmbH & Co. KG (Germany)
21. Grohe (Germany)
22. Villeroy Boch (Germany)
23. DAMIXA (Denmark)
24. HCG (Philippines)
25. Chung Cheng Faucet Company (Taiwan)
26. Globe Union Industrial Corp. (Taiwan)
27. ROCA (Spain)

Frequently Asked Questions:

1] What segments are covered in the Global Kitchen Faucets Market report?
Ans. The segments covered in the Kitchen Faucets Market report are based on Type, Installation Type, and Material.

2] Which region is expected to hold the highest share in the Global Kitchen Faucets Market?
Ans. The North America region is expected to hold the highest share in the Kitchen Faucets Market.

3] What is the market size of the Global Kitchen Faucets Market by 2030?
Ans. The market size of the Kitchen Faucets Market by 2030 is expected to reach USD 39.81 Bn.

4] What is the forecast period for the Global Kitchen Faucets Market?
Ans. The forecast period for the Kitchen Faucets Market is 2024-2030

5] What was the market size of the Global Kitchen Faucets Market in 2023?
Ans. The market size of the Kitchen Faucets Market in 2023 was valued at USD 24.47 Bn.