The North America Thermostatic Faucet Market would witness market growth of 9% CAGR during the forecast period (2021-2027).
Various factors such as rising demand for technologically advanced faucets, shifting preferences of customers toward luxurious products, and developing residential sector are propelling the demand for thermostatic faucets in the market. In addition, the increasing utilization of these faucets in hospitals is also augmenting the growth of the market.
Additionally, rising disposable income levels and the upsurge in the activities of construction in the world are surging the growth of the thermostatic faucet market. As reported by Houzz Survey, numerous landlords in the U.S. are hiring professionals for their home enhancements and a few of them also hired construction managers for the same.
The advanced faucets available in the market by the key companies are highly utilized as they are hygienic and give aesthetic appeal. According to the World Health Organization (WHO), there is a shortage of conventional designs of the public toilet due to which there is an increase in the requirement for the thermostatic faucet in healthcare and hospitals settings.
North America is a developed region and the disposable income of customers in this region is very high due to which there is a huge demand for the thermostatic faucet in the market. The boost in the faucet market is attributed to the growing trend and awareness about the equipment that is safer to use for domestic purposes and also helps in conserving water. The constantly growing residential sector in this region is the major reason that is propelling the regional faucet market.
North America is currently the world’s largest regional economy and will remain the largest market for funding & commercializing advanced technologies. The adoption of advanced kitchen faucets is significantly rising intending to improve the interior and designing pattern of the kitchen. Additionally, people are choosing luxurious accessories for their washrooms due to which, there is augment in the demand for advanced faucets. Therefore, all these factors are pushing the market for thermostatic faucets in this region.
The USA market dominated the North America Single Lever Mixers Market by Country in 2020, and would continue to be a dominant market till 2027; thereby, achieving a market value of $881.1 million by 2027. The Canada market is experiencing a CAGR of 8.6% during (2021 - 2027). Additionally, The Mexico market would witness a CAGR of 10.7% during (2021 - 2027).
Based on Product, the market is segmented into Two Handle Mixers, Single Lever Mixers and Other Products. Based on End User, the market is segmented into Residential and Commercial. Based on countries, the market is segmented into U.S., Mexico, Canada, and Rest of North America.
Free Valuable Insights: The Global Thermostatic Faucet Market is Estimated to Reach USD 12.6 Billion by 2027 at a CAGR of 9.5%
The market research report covers the analysis of key stake holders of the market. Key companies profiled in the report include Hangzhou Oulin Sanitary Ware Co., Ltd., Kohler Co., Roca Sanitario SA, Moen Incorporated (Fortune Brands), Masco Corporation, LIXIL Corporation, Geberit AG (Doughty Hanso), Reliance Worldwide Corporation Ltd., Cera Sanitaryware Ltd., and Jaquar Group
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