Report Code : A02907
, “the bathroom taps market has observed significant growth in past few years, owing to rise in urbanization and concern for hygienic sanitation. In addition, rise in advanced technology in such taps for smart bathrooms for reducing wastage of water provides lucrative growth opportunities for the market during the forecast period.”
Amar Chinchane
Lead Analyst, Construction and Manufacturing at Allied Market Research
According to a new report published by Allied Market Research, titled, “bathroom taps market by product type, material, and end user: global opportunity analysis and industry forecast, 2021–2030,” The global bathroom taps market size was valued at $17,270.0 million in 2020, and is projected to reach $32,953.0 million by 2030, registering a CAGR of 6.5% from 2021 to 2030.
Bathroom tap is the valve that regulates flow of water in the bathroom. Bathroom taps are important components of bathrooms that are gaining popularity among both customers and producers. Smart taps are temperature sensors and efficiency sensors make it simple for every member of household to carefully regulate how much water they use in the kitchen or bathroom.
According to the UN, urbanization is taking place in a major section of the world. Urban regions now contain almost 54.8% of the world's population. Increase in knowledge of more modern sanitary fittings such as taps has come from urbanization. Growth in urbanization and rise in number of nuclear families, especially in developing nations, has created a significant need for bathroom taps. In addition, rise in consumer hygienic has aided expansion of the electronic-enabled bathroom taps industry. As a result of growing urbanization and greater demand for basic sanitation are such factors that drive demand for bathroom taps throughout the forecast period.
According to the Water Action Decade, 2018–2028 plans will focus on sustainable development and integrated management of water resources for sanitation and hygiene for achievement of social, economic and environmental objectives. Hence these initiatives will provide positive, impact in bathroom taps market. Also, to strengthen the market position, competitors in the bathroom taps market use strategic moves such as collaboration, mergers, acquisitions, and agreements. For instance, in November 2020 MASCO Corporation has agreed to purchase a majority stake in the Dutch company Easy Sanitary Solutions (ESS) B.V. Easy Drain shower channels were invented, developed, and manufactured by ESS, which also offers a comprehensive variety of barrier-free showering and bathroom wall specialty products.
However, owing to a lockdown imposed in countries such as China, the U.S., and India, numerous manufacturers in the global bathroom taps market led to halt in their business production. This disruption has a direct impact on sales of bathroom taps. However, it is expected that reopening of production facilities and introduction of coronavirus vaccines would lead to reopening of bathroom taps firms.
Key companies profiled in the bathroom taps market report include CERA Sanitaryware Limited, Delta Faucet Company, Jaquar Group, Kohler Co., LIXIL Corporation, MOEN Incorporated, MAC Faucets, LLC., MASCO Corporation, ROCA Sanitario S.A., and Eczacibasi Group (VITRA).
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Bathroom Taps Market by Product Type (Mixer Taps, Pillar Taps, Wall Mounted Taps, Floor Mounted Taps, and Others), Material (Metal, and Plastics), and End User (Residential, and Commercial): Global Opportunity Analysis and Industry Forecast, 2021–2030
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