About Bathroom Taps
A bathroom tap is a sanitary-ware fitting that controls the flow of water from the pipe. The global bathroom taps market is witnessing the growth of eco-friendly faucets; sensor taps are one such product introduced in the market, which is gaining a large-scale popularity among users. The non-sensor taps segment holds the major share in the global bathroom taps market. It is the expected to be the single largest segment during the forecast period, owing to the high replacement demand and growth of public infrastructure projects worldwide. On the other hand, the sensor taps segment is expected to be the fastest growing segment during the forecast period. The global bathroom taps market is mainly dependent on the growth of the global construction industry and economic conditions worldwide.
Technavio’s analysts forecast the global Bathroom Taps market to grow at a CAGR of 7.25% during the period 2017-2021.
Covered in this report
The report covers the present scenario and the growth prospects of the global bathroom taps market for 2017-2021. To calculate the market size, the report considers the demand for the product from key regions.
The market is divided into the following segments based on geography:
Technavio Announces the Publication of its Research Report – Global Bathroom Taps Market 2017-2021
Technavio recognizes the following companies as the key players in the global bathroom taps market: Kohler, LIXIL Group, Masco, Moen, and TOTO.
Other Prominent Vendors in the market are: Delta Faucet, Roca Sanitario, Jomoo Kitchen & Bath, MAC Faucets, Danze, AGMECO, Jaguar, CERA Sanitaryware, VitrA, Advanced Modern Technologies Corporation, Geberit Plumbing Technology, GESSI, Kully Supply, Miscea, and Oras.
Commenting on the report, an analyst from Technavio’s team said: “The latest trend gaining momentum in the market is increased adoption of smart bathrooms. Advanced technologies such as smart bathrooms aim at energy conservation and maintaining superior hygiene standards. In the US, smart bathrooms are gaining popularity to reduce the rising energy costs in the country. In Germany, the government introduced the concept of smart bathrooms in the construction market to control and reduce high energy costs. Similarly, Japan is facing the challenge of supply and demand for energy. To counter this concern, the government has started focusing on the development of smart bathrooms in public infrastructure and buildings.”
According to the report, one of the major drivers for this market is Growing urbanization and lifestyle. Worldwide, urbanization has been driving changes in lifestyles of different sections of the population. The evolving lifestyles of consumers and the growing global population have led to a rise in the demand for sophisticated and water efficient bathrooms, which, in turn, has increased the demand for efficient and advanced sensor taps. The significant growth of cities globally indicates the shift of large sections of the population from rural to urban areas. More than 50% of the global population stay in urban cities. It is expected that by 2050, the urban population will double, reaching 6.4 billion. Urbanization in the emerging economies is due to the rural-urban migration, driven by the search for better employment opportunities. By 2030, the number of megacities is projected to increase to 41, with Asia being home to 7 such cities.
Further, the report states that one of the major factors hindering the growth of this market is Competition among vendors. Many local and international bathroom taps manufacturers are operating in both the organized and unorganized sectors of the global bathroom taps market. The market is experiencing a fierce competition among vendors in terms of maintaining new product lines and technological advances. One of the major players, Jaguar, acquired the majority stake in a Korea-based firm, Joeyforlife, by investing $1.2 million as a part of its global expansion strategy. Delta Faucet made an entry into the Indian market and has plans to open nearly 100 showrooms by the end of 2017.
Kohler, LIXIL Group, Masco, Moen, and TOTO. Delta Faucet, Roca Sanitario, Jomoo Kitchen & Bath, MAC Faucets, Danze, AGMECO, Jaguar, CERA Sanitaryware, VitrA, Advanced Modern Technologies Corporation, Geberit Plumbing Technology, GESSI, Kully Supply, Miscea, and Oras.
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