According to a new report Global Thermostatic Faucet Market, published by KBV research, The Global Thermostatic Faucet Market size is expected to reach $12.6 billion by 2027, rising at a market growth of 9.5% CAGR during the forecast period.
The single lever product segment dominated the market in 2020. Moreover, the segment would be the fastest growing segment during the forecast period. The major factor propelling this segment is the growing demand for single-level mixers in the residential sector. The demand for advanced kitchen equipment is boosting as most of the population is working from home due to the COVID-19 pandemic.
The commercial segment has showcased significant market share in the thermostatic faucet market in 2020 and is expected to witness fastest CAGR during the forecast period. This sector comprises malls, airports, hotels, and hospitals. To maintain hygiene in the hospitals, several advancements are done in the plumbing products that enable easy installation and maintenance of the thermostatic faucets.
Asia-Pacific would emerge as the fastest-growing region in the thermostatic faucet market during the forecast period. This significant growth in this region is due to the increasing construction activities in the commercial and residential sectors. For example, a construction company in Japan, Daiwa House Industry, is focusing on industrialized housing and has implemented several generative design solutions, which replicate building needs like manufacturing methods, cost restrictions, design objectives, and materials to create multiple designs iteration, which will assist in optimizing land.
Full Report: https://www.kbvresearch.com/thermostatic-faucet-market/
The market research report has exhaustive quantitative insights providing a clear picture of the market potential in various segments across the globe with country wise analysis in each discussed region. The key impacting factors of the market have been discussed in the report with the elaborated company profiles of 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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