It is projected that the moveable water tap market will be valued at US$ 1,300 million by 2022. It is anticipated that demand would improve due to a preference for employing portable accessories that provide greater convenience. Moving water tap sales are expected to increase overall between 2022 and 2032 at a compound annual growth rate (CAGR) of 7.8%, reaching approximately US$ 2,755.1 million by the end of 2032.
The increasing application of modernized kitchens and bathrooms is expected to drive the moveable kitchen and bathroom water tap.
Growing preference for an aesthetic appeal of kitchen and washroom along with the installation of multi-functional tools is also expected to boost the faucets market.
What is Driving Demand for Moveable Water Tap?
The inclination of customers towards the urban lifestyle has fueled the market growth. Moreover, the improving lifestyle, changing consumer preference and growing disposable income of the customer has been increasing the spending on luxury houses and remodeling.
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This encouraging players to make premium bathroom and kitchen accessories of excellent quality. This change in lifestyle and urbanization will pose a good impact on the demand for the moveable faucet.
Furthermore, many players are investing in the research and development sector for providing the best design and quality of tap to the customer. For instance, HASDING introduced a 360° rotatable anti-splash sink faucet which has 3 modes.
The high-performance tap extender allows users to easily change the water outlet mode. Soft Stream Bubble, Shower Mode, Shower Pulse are three modes that give more choices to saves water. Such features in the tap attract the customer to choose such faucet which saves water and drive the market in the water scarcity area.
Commercial and Residential Sector that Likely to Augment Moveable Water Tap Sales
Significant expansion in commercial places includes hospitals, restaurants, hotels, shopping complexes, railway stations, airports and utility areas is expected to drive the market demand for movable water faucets during the forecast period. For instance, Delta Faucet Company offers innovative commercial taps for various sectors.
The ShieldSpray® Technology of the company cleans like laser precision while containing splatter ad mess. A pressurized jet present in a protective sphere powers away the stubborn messes with almost 90% less splatter than a traditional spray so people can spend minimum time soaking, shirt swapping and scrubbing.
Furthermore, in the residential sector, the market of the moveable tap is growing because people depend on the premium bathroom and kitchen accessories that complement the interiors as well as survey the purpose. Also, the sales of water taps are increased with the increasing number of households.
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The US and Canada Moveable Water Tap Market Outlook
The most technologically advanced generations are thought to be the youngest ones. Because these generations have witnessed several technological advancements, millennials expect firms to supply a greater choice of accessories.
The younger generation is captivated by smart products. Millennials are the generation most interested in having smart technology in their bathroom and kitchen. The introduction of the sensor-based movable bathroom and kitchen tap, with an aim of water conservation and ensure proper hygiene in the washing area is happily accepted by the people of the United States and Canada.
Furthermore, with the fast-changing lifestyle and urbanization, the possessions of houses are also growing in the United States and Canada, this factor has required the installation of the tap in the bathroom and kitchen.
And people of the region know the benefits of the moveable taps like this type of taps save water, also cleaning is easy with this taps. Thus, the business of the moving tap is rising in the region. Moreover, the remodeling and repairing of house utility areas include bathrooms and kitchens have generated a fair demand for movable water faucets in the region.
Europe Demand Outlook for Moveable Water Tap
Many countries in the EU have been severely impacted by the COVID-19 crisis, which has led to a decline in economic activities. Amid the covid-19 outbreak, the moveable water tap market has faced extensive growth challenges, due to store closures across different regions of Europe. Besides this, the consumers’ shift from retail stores to online buying has opened new sales opportunities for online retailers in the market.
While during the forecast period the movable water faucet demand remains fragmented with the presence and entering of a large number of key players in the market of Europe.
Many key players in the market are providing unique looks, styles and designs for the faucets. Many pro players are also having skilled labor to manufacture and design products, which help the player to strengthen their presence in the European countries.
Furthermore, many players supply their movable water taps through their distribution channels. Moreover, to maintain good relations with customers, players are providing advisory and technical services along with a warranty to their consumers. This helps the players to gain competitive advantages in the market of Europe.
Moreover, the changing lifestyle has a renovated kitchen as a place for family friends gathering rather than a place of just cooking. This change is attributed to the increasing demand for sophisticated, elegant and multifunctional kitchen taps. For instance, Franke Kitchen Systems introduce a tap equipped with the ability to swivel 360 degrees and switch between full and needle water spray.
Also, its 3-in-1 tap is manufactured to give cold, hot and distilled water to provide all types of water for kitchen purposes. Such innovation gives the idea to other players to launch such type of tap to gain a competitive advantage in the market.
Key Segments
By End-User:
- Residential
- Commercial
By Material:
- PVC
- Plastic
- Brass
- Stainless steel
- Other
By Application:
- Kitchen
- Bathroom
- Other
By Distribution Channels:
- Direct Sales
- Hypermarkets/ Supermarkets
- Specialty Stores
- Online retailing
- Others
By Region:
- North America
- US & Canada
- Latin America
- Brazil, Mexico, Others
- Western Europe
- EU5
- Nordics
- Benelux
- Eastern Europe
- Asia Pacific
- Australia and New Zealand (ANZ)
- Greater China
- India
- ASEAN
- Rest of Asia Pacific
- Japan
- Middle East and Africa
- GCC Countries
- Other Middle East
- North Africa
- South Africa
- Other Africa
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