Global Thermostatic Faucet Market By Product (Two Handle Mixers, Single Lever Mixers and Other Products), By End User (Residential and Commercial), By Regional Outlook, COVID-19 Impact Analysis Report and Forecast, 2021 - 2027
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Market Report Description
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. A thermostatic faucet is also known as a thermostatic mixing valve. It is used to blend hot and cold water automatically to get warm water at the predetermined temperature. An adjustable thermostatic valve is present inside the faucet, which helps in balancing the water pressure of hot and cold water automatically in a short period. It also assists in maintaining the consistency of the water temperature flowing out from the tap without any interference from humans.
Normally, the conventional faucets are controlled manually for adjusting the temperature of the water coming out from the passage. At some times, shower faucets are appropriate to take shower as it is capable to balance the temperature and pressure of the water. Conventional faucets are appropriate to use at different places like in washbasins.
These faucets can be used very comfortably, especially in the winter season, faucets play an important role as it is capable to provide the warm water. There are also quick-heating faucets that are safer to use in various circumstances. Several thermostatic faucets offer protection from over-temperature, owing to this number of people are implementing these faucets in their washroom and kitchen. Few thermostatic faucets are easy to use as it provides features like adjustable water temperature & flow rate, touch screen control, and second-speed constant temperature.
COVID-19 Impact Analysis
The global outbreak of the COVID-19 pandemic has affected all sectors of the market. The government has imposed severe restrictions for maintaining social distance and traveling. This aspect hindered the supply of products due to which, the market of thermostatic faucet faced a slowdown. The coronavirus pandemic has positively impacted the market of thermostatic faucets and created new lucrative growth opportunities. This impact has its significance in the first quarter but gradually gets lower in the subsequent quarters, due to this there is not much lost in the thermostatic faucet market.
The demand for thermostatic faucets decreased during the pandemic due to the decline in construction and renovation projects. In addition, the pandemic severely affected the supply chain of the thermostatic faucet, this is accounted to decline the demand for the product. Strict social distancing regulations by the government across the globe led to a decline in consumer spending. In contrast, the world economy is reviving and it is expected that the market of thermostatic faucets will witness lucrative growth opportunities in the upcoming years.
Market Growth Factors:
Thermostatic faucets help in saving water
Thermostatic faucet is playing a key role in conserving water. The application of these faucets in residential and commercial sectors is helping in limited usage of water and reduces water wastage. Key companies are manufacturing such faucets that reach preferred water temperature quickly and remain constant till the temperature is not changed again.
Helps in controlling the temperature of the water
The major benefit of using a thermostatic faucet is that it can easily control the temperature of water automatically, by blending hot and cold water at a predetermined temperature. This helps in reducing the risk of scalding. The higher temperature can burn the skin, especially of elder & sensitive skin people. Additionally, these faucets automatically shut off the flow of hot water when the cold water is cut off, thus this system helps in avoiding possible burns.
Market Restraining Factor:
Thermostatic faucets are expensive than normal faucet
Thermostatic faucets need more initial investment as they are expensive. These faucets are almost twice in price as compared to the normal faucet. The manufacturing cost of thermostatic faucets is comparatively high than normal faucets because it requires additional technology and parts, which adds to the overall cost of the thermostatic faucets and thus, hampering the growth of the market.
Based on Product, the market is segmented into Two Handle Mixers, Single Lever Mixers and Other Products. Two-handle mixers are comparatively cheaper than single-level mixers and are easily available in the market, due to these features, the demand for two-handle mixers is surging. The two handle mixers comprise a spout and two taps. The two-handle faucets have two distinct handles that separately control the cold and hot water then it is mixed by the spout placed in it. Organizations are majorly concentrating to offer top-quality products to their customers.
End User Outlook
Based on End User, the market is segmented into Residential and Commercial. The growing number of housing units and customer demand for advanced faucets is augmenting the thermostatic faucet market in the residential sector. As stated by European Union, the government of Germany has introduced some measures aiming at the expansion of the country’s housing market. The government has given a significant amount for the construction of many rental units, which will also accelerate the market of thermostatic faucets in the upcoming years.
|Market size value in 2020||USD 5.3 Billion|
|Market size forecast in 2027||USD 12.6 Billion|
|Historical Period||2017 to 2019|
|Forecast Period||2021 to 2027|
|Revenue Growth Rate||CAGR of 9.5% from 2021 to 2027|
|Number of Pages||143|
|Number of Tables||250|
|Report coverage||Market Trends, Revenue Estimation and Forecast, Segmentation Analysis, Regional and Country Breakdown, Companies Strategic Developments, Company Profiling|
|Segments covered||Product, End User, Region|
|Country scope||US, Canada, Mexico, Germany, UK, France, Russia, Spain, Italy, China, Japan, India, South Korea, Singapore, Australia, Brazil, Argentina, UAE, Saudi Arabia, South Africa, Nigeria|
Based on Regions, the market is segmented into North America, Europe, Asia Pacific, and Latin America, Middle East & Africa. North America acquired the maximum revenue share in 2020. The region will exhibit moderate growth rate during the forecast period. The demand for thermostatic faucets is surging due to the increment in the demand for kitchen and bathroom equipment. In addition, there is a significant rise in the awareness about conservation of water, thereby propelling the demand for thermostatic faucets in this region.
Free Valuable Insights: Global Thermostatic Faucet Market size to reach USD 12.6 Billion by 2027
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.
Recent Strategies Deployed in Thermostatic Faucet Market
- Jun-2021: The Roca Group acquired Sanit, which specialized in sanitaryware installation systems. This acquisition aimed to strengthen its position as a global operator and reinforce its presence in a group where Sanit is the third-largest operator in Germany and the fifth-largest in Europe.
- Jun-2021: Moen unveiled the latest Nebia by Moen Quattro Showerheads. The Nebia by Moen Quattro products provides four unique showers all in one showerhead, which are individually developed to soothe, relieve, clarify and cleanse. In addition, Nebia by Moen showerheads are diligently developed for optimal warmth, rinsing, and body coverage.
- Feb-2021: Moen introduced New Moen Cia Bathroom Collection that is included in the brand’s First Touchless Lavatory Faucet. This new Cia bathroom collection features the company’s first-ever bathroom faucet comprising with MotionSense Wave touchless technology. In addition, it also features a single-sensor touchless activation, which enables customers to turn the water on and off with the simple pass of a hand, offering the best of modern style and technology in a single strikingly stunning faucet.
- Dec-2018: CERA unveiled the Viva range of instant and storage water heaters. This launch helped the company to enter the water heater segment with the most improved technology incorporated with Italian styling matches bathroom of each décor, thermostat, and compact in size saves space, and auto cut-off saves time and provides safety.
- Jul-2018: Reliance UK released the Heatguard Style Thermostatic Mixing Valve (TMV). It is a Type 3 KIWA approved valve ideal for surroundings in which the valve must be front-of-wall. The key objective of thermostatic mixing valves is to offer customers stable mixed water temperatures, decreasing the fluctuation in water temperatures during usage. During the usage of a basin, people are expected to pour their hands into running water without waiting for the water to get hot.
- Jan-2018: LIXIL Americas, a division of LIXIL Corporation launched new products and improved technologies. These new products are within the region’s flagship water technology brands American Standard, DXV, and GROHE. The American Standard, DXV, and GROHE are introducing the smart latest improvements at KBIS that utilize the power of water to improve people's lives.
Scope of the Study
Market Segments Covered in the Report:
- Two Handle Mixers
- Single Lever Mixers
- Other Products
By End User
- North America
- Rest of North America
- Rest of Europe
- Asia Pacific
- South Korea
- Rest of Asia Pacific
- Saudi Arabia
- South Africa
- Rest of LAMEA
Key Market Players
List of Companies Profiled in the Report:
- 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
- Jaquar Group
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What would be the size of the thermostatic faucet acid market by 2027?
The thermostatic faucet acid market size is projected to reach USD 12.6 billion by 2027.
What are the key driving factors and challenges in the thermostatic faucet acid market?
Helps in controlling the temperature of the water are driving the market in coming years, however, thermostatic faucets are expensive than normal faucet limited the growth of the market.
Who are the leading players in the thermostatic faucet acid market?
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.
What has been the impact of COVID-19 on the global thermostatic faucet acid market?
The coronavirus pandemic has positively impacted the market of thermostatic faucets and created new lucrative growth opportunities.
Which segment dominated the thermostatic faucet acid market in 2020?
The single lever product segment dominated the market in 2020. Moreover, the segment would be the fastest growing segment during the forecast period.
Which region shows the fastest-growing region of the global tabletop kitchen?
Asia-Pacific would emerge as the fastest-growing region in the thermostatic faucet market during the forecast period.