Residential Digital Faucets Market to grow by USD 2,198.09 million from 2022 to 2027|Increasing consumer expenditure on bathroom and kitchen remodelling drives the market - Technavio

NEW YORK, July 10, 2023 /PRNewswire/ -- The residential digital faucets market size is set to grow by USD 2,198.09 million from 2022 to 2027 and register a CAGR of 6.73%, according to Technavio's latest market research report estimates. With a focus on identifying dominant industry influencers, Technavio's reports present a detailed study by way of synthesis, and summation of data from multiple sources. This report offers an up-to-date analysis of the current market scenario, the latest trends and drivers, and the overall market environment. Technavio offers an up-to-date analysis of the current global market scenario and the overall market environment. View Sample Report

The report also covers the following areas:

• Residential Digital Faucets Market size
• Residential Digital Faucets Market Trends
• Residential Digital Faucets Market industry analysis

Residential Digital Faucets Market 2023-2027: Segmentation

• Type 
• Automated
• Manual
• Distribution Channel 
• Offline
• Online
• Geography 
• North America
• Europe
• APAC
• South America
• Middle East And Africa

The offline segment will contribute to the largest share of this segment. For digital faucets, speciality stores can be highly effective offline sales channels. Speciality stores draw the attention of customers who are particularly looking for products related to their niche. These stores can capture attract customers who are interested in upgrading their bathroom or kitchen with new and advanced fixtures, by emphasising digital faucets. Speciality stores tend to deliver a broad range of digital faucets, including various brands, styles, and price points. However, this variety enables customers to compare options and find the faucet that best matches their priorities and budget. Moreover, physical stores deliver an option for customers to experience and interact with digital faucets firsthand. Speciality stores can have working models or displays that showcase the features and functionalities of these faucets and such factors will boost segment growth during the forecast period.

Residential Digital Faucets Market 2023-2027: Vendor Analysis and Scope

Some of the major vendors of the residential digital faucets market include Acquaviva India Pvt. Ltd., BRIZO KITCHEN and BATH CO, CERA Sanitaryware Ltd., Danube Group, Elkay Manufacturing Co., Euronics Industries Pvt. Ltd., Jaquar Group, Kajaria Ceramics Ltd., Kohler Co., Kraus USA Inc., LIXIL Corp., Masco Corp., Moen Inc., Oras Ltd., Prism Johnson Ltd., RN Valves and Faucets, Roca Sanitario SA, Stanley Black and Decker Inc., Taiwan Kingbird Enterprises Inc., and Toto Ltd. To help businesses improve their market position, Technavio's report provides a detailed analysis of around 15+ vendors operating in the market. To leverage the current opportunities, market vendors must strengthen their foothold in the fast-growing segments, while maintaining their positions in the slow-growing segments. Backed with competitive intelligence and benchmarking, our research reports on the residential digital faucets market are designed to provide entry support, customer profile & M&As as well as go-to-market strategy support.

Vendor Offerings

• Aqua Viva India Pvt. Ltd. - The company offers residential digital faucets such as deck-mounted and wall mounted.
• Danube Group - The company offers residential digital faucets under the brand Milano.
• Elkay Manufacturing Co. - The company offers residential digital faucets such as Chrome, deck mount, wall mount.

What's New?

• Special coverage on the Russia-Ukraine war; global inflation; recovery analysis from COVID-19; supply chain disruptions, global trade tensions; and risk of recession 
• Global competitiveness and key competitor positions 
• Market presence across multiple geographical footprints - Strong/Active/Niche/Trivial - buy the report!

Residential Digital Faucets Market – Market Dynamics
Key factor driving market growth

The increasing consumer expenditure on bathroom and kitchen remodeling is notably driving market growth.  Generally, residential digital faucets are used in bathroom and kitchen applications, such as sinks, washbasins, bidets, and sanitary wares. Customers are expanding their expenses more on modern bathroom applications, like digital faucets. Home digital faucets make up a substantial part of this expenditure. Moreover, in the United States, customers are motivated to pay more for these products owing to recent technological developments like flow monitoring, temperature control, and better designs of homes' Digital Faucets. There has been an increase in the amount of money spent on luxury bathrooms in developing economies like India since 2014. Consumer spending on luxury bathroom services in India was increasing at a more rapid rate than that for smaller and midsized bathrooms in 2012. Customer expenditure on luxury bathroom products in India is predicted to grow at a substantial rate. The increasing consumer expenditure overall on bathroom and kitchen remodeling globally will be a significant factor in driving the growth of the global residential faucets market during the forecast period.

Major Trend

The strong distribution network between manufacturers and retailers is an emerging trend shaping the residential digital faucets market. The increase of focus to improve their distribution network with retailers and online channel partners is being put by the vendors in the worldwide digital home faucets market as they strive to better establish themselves globally. In India, CERA is one of the primary residential digital faucet manufacturers. However, brand presence in retail outlets is necessary for significant vendors in developing countries such as China and India, where unorganized players still play a dominant role in the market. Moreover, the vendors emphasize on supporting their presence on e-commerce platforms through partnerships with online vendors, such as Amazon, Alibaba, and The Home Depot. It motivated established retailers to take on e-commerce because of the challenge posed by unorganized players in these portals. Therefore, major vendors in the global residential digital faucets market will adopt further strategies to support their distribution network with both online and offline partners during the forecast period.

Significant Challenge 

The high cost of residential digital faucets is a major challenge hindering market growth. In the global market, the major factor affecting their adoption is the high cost of installing these Digital Household Faucets. In general, brass is the main material used to make faucets. Electronic components, e.g., sensors, are also part of the Digital Faucets at home. Thus, the manufacturing cost of these digital faucets is high, and it became one of the main reasons underlying the lower adoption of these products in emerging markets. However, the constant growth in raw material prices will add to the overall manufacturing cost of residential digital faucets. Prices are set to rise as a result of increased demand from different end-user industries for brass and copper. The growth in raw material prices will have a significant impact on the manufacturing cost of residential digital faucets. Therefore, the prices of residential digital faucets may rise, which may impede their adoption during the forecast period.

Residential Digital Faucets Market 2023-2027: Key Highlights

• CAGR of the market during the forecast period 2023-2027
• Detailed information on factors that will assist residential digital faucets market growth during the next five years
• Estimation of the residential digital faucets market size and its contribution to the parent market
• Predictions on upcoming trends and changes in consumer behaviour
• The growth of the residential digital faucets market
• Analysis of the market's competitive landscape and detailed information on vendors
• Comprehensive details of factors that will challenge the growth of residential digital faucets market vendors

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The bathroom sinks market is estimated to grow at a CAGR of 4.3% and the size of the market is forecast to increase by USD 2,143.25 million between 2022 and 2027. This report extensively covers market segmentation by application (residential and non-residential), distribution channel (offline and online), and geography (APAC, North America, Europe, Middle East and Africa, and South America). The global bathroom sink market is driven by the increase in building refurbishment activities.

The residential faucets market is projected to grow by USD 5.84 billion with a CAGR of 9.1% during the forecast period 2021 to 2026. This report extensively covers the residential faucets market segmentation by application (bathroom faucets and kitchen faucets) and geography (North America, APAC, Europe, the Middle East and Africa, and South America). Product premiumization through product innovation and wide product assortment is one of the key drivers fueling the residential faucets market growth. 

Table of contents

1 Executive Summary

• 1.1 Market overview 
• Exhibit 01: Executive Summary – Chart on Market Overview
• Exhibit 02: Executive Summary – Data Table on Market Overview
• Exhibit 03: Executive Summary – Chart on Global Market Characteristics
• Exhibit 04: Executive Summary – Chart on Market by Geography
• Exhibit 05: Executive Summary – Chart on Market Segmentation by Type
• Exhibit 06: Executive Summary – Chart on Market Segmentation by Distribution Channel
• Exhibit 07: Executive Summary – Chart on Incremental Growth
• Exhibit 08: Executive Summary – Data Table on Incremental Growth
• Exhibit 09: Executive Summary – Chart on Vendor Market Positioning

2 Market Landscape

• 2.1 Market ecosystem 
• Exhibit 10: Parent market
• Exhibit 11: Market Characteristics

3 Market Sizing

• 3.1 Market definition 
• Exhibit 12: Offerings of vendors included in the market definition

• 3.2 Market segment analysis 
• Exhibit 13: Market segments

• 3.3 Market size 2022 

• 3.4 Market outlook: Forecast for 2022-2027
• Exhibit 14: Chart on Global - Market size and forecast 2022-2027 ($ million)
• Exhibit 15: Data Table on Global - Market size and forecast 2022-2027 ($ million)
• Exhibit 16: Chart on Global Market: Year-over-year growth 2022-2027 (%)
• Exhibit 17: Data Table on Global Market: Year-over-year growth 2022-2027 (%)

4 Historic Market Size

• 4.1 Global residential digital faucets market 2017 - 2021
• Exhibit 18: Historic Market Size – Data Table on global residential digital faucets market 2017 - 2021 ($ million)

• 4.2 Type Segment Analysis 2017 - 2021 
• Exhibit 19: Historic Market Size – Type Segment 2017 - 2021 ($ million)

• 4.3 Distribution Channel Segment Analysis 2017 - 2021
• Exhibit 20: Historic Market Size – Distribution Channel Segment 2017 - 2021 ($ million)

• 4.4 Geography Segment Analysis 2017 - 2021
• Exhibit 21: Historic Market Size – Geography Segment 2017 - 2021 ($ million)

• 4.5 Country Segment Analysis 2017 - 2021
• Exhibit 22: Historic Market Size – Country Segment 2017 - 2021 ($ million)

5 Five Forces Analysis

• 5.1 Five forces summary 
• Exhibit 23: Five forces analysis - Comparison between 2022 and 2027

• 5.2 Bargaining power of buyers 
• Exhibit 24: Chart on Bargaining power of buyers – Impact of key factors 2022 and 2027

• 5.3 Bargaining power of suppliers 
• Exhibit 25: Bargaining power of suppliers – Impact of key factors in 2022 and 2027

• 5.4 Threat of new entrants 
• Exhibit 26: Threat of new entrants – Impact of key factors in 2022 and 2027

• 5.5 Threat of substitutes 
• Exhibit 27: Threat of substitutes – Impact of key factors in 2022 and 2027

• 5.6 Threat of rivalry 
• Exhibit 28: Threat of rivalry – Impact of key factors in 2022 and 2027

• 5.7 Market condition 
• Exhibit 29: Chart on Market condition - Five forces 2022 and 2027

6 Market Segmentation by Type

• 6.1 Market segments 
• Exhibit 30: Chart on Type - Market share 2022-2027 (%)
• Exhibit 31: Data Table on Type - Market share 2022-2027 (%)

• 6.2 Comparison by Type 
• Exhibit 32: Chart on Comparison by Type
• Exhibit 33: Data Table on Comparison by Type

• 6.3 Automated - Market size and forecast 2022-2027
• Exhibit 34: Chart on Automated - Market size and forecast 2022-2027 ($ million)
• Exhibit 35: Data Table on Automated - Market size and forecast 2022-2027 ($ million)
• Exhibit 36: Chart on Automated - Year-over-year growth 2022-2027 (%)
• Exhibit 37: Data Table on Automated - Year-over-year growth 2022-2027 (%)

• 6.4 Manual - Market size and forecast 2022-2027
• Exhibit 38: Chart on Manual - Market size and forecast 2022-2027 ($ million)
• Exhibit 39: Data Table on Manual - Market size and forecast 2022-2027 ($ million)
• Exhibit 40: Chart on Manual - Year-over-year growth 2022-2027 (%)
• Exhibit 41: Data Table on Manual - Year-over-year growth 2022-2027 (%)

• 6.5 Market opportunity by Type 
• Exhibit 42: Market opportunity by Type ($ million)
• Exhibit 43: Data Table on Market opportunity by Type ($ million)

7 Market Segmentation by Distribution Channel

• 7.1 Market segments 
• Exhibit 44: Chart on Distribution Channel - Market share 2022-2027 (%)
• Exhibit 45: Data Table on Distribution Channel - Market share 2022-2027 (%)

• 7.2 Comparison by Distribution Channel 
• Exhibit 46: Chart on Comparison by Distribution Channel
• Exhibit 47: Data Table on Comparison by Distribution Channel

• 7.3 Offline - Market size and forecast 2022-2027
• Exhibit 48: Chart on Offline - Market size and forecast 2022-2027 ($ million)
• Exhibit 49: Data Table on Offline - Market size and forecast 2022-2027 ($ million)
• Exhibit 50: Chart on Offline - Year-over-year growth 2022-2027 (%)
• Exhibit 51: Data Table on Offline - Year-over-year growth 2022-2027 (%)

• 7.4 Online - Market size and forecast 2022-2027
• Exhibit 52: Chart on Online - Market size and forecast 2022-2027 ($ million)
• Exhibit 53: Data Table on Online - Market size and forecast 2022-2027 ($ million)
• Exhibit 54: Chart on Online - Year-over-year growth 2022-2027 (%)
• Exhibit 55: Data Table on Online - Year-over-year growth 2022-2027 (%)

• 7.5 Market opportunity by Distribution Channel
• Exhibit 56: Market opportunity by Distribution Channel ($ million)
• Exhibit 57: Data Table on Market opportunity by Distribution Channel ($ million)

8 Customer Landscape

• 8.1 Customer landscape overview 
• Exhibit 58: Analysis of price sensitivity, lifecycle, customer purchase basket, adoption rates, and purchase criteria

9 Geographic Landscape

• 9.1 Geographic segmentation 
• Exhibit 59: Chart on Market share by geography 2022-2027 (%)
• Exhibit 60: Data Table on Market share by geography 2022-2027 (%)

• 9.2 Geographic comparison 
• Exhibit 61: Chart on Geographic comparison
• Exhibit 62: Data Table on Geographic comparison

• 9.3 North America - Market size and forecast 2022-2027
• Exhibit 63: Chart on North America - Market size and forecast 2022-2027 ($ million)
• Exhibit 64: Data Table on North America - Market size and forecast 2022-2027 ($ million)
• Exhibit 65: Chart on North America - Year-over-year growth 2022-2027 (%)
• Exhibit 66: Data Table on North America - Year-over-year growth 2022-2027 (%)

• 9.4 Europe - Market size and forecast 2022-2027
• Exhibit 67: Chart on Europe - Market size and forecast 2022-2027 ($ million)
• Exhibit 68: Data Table on Europe - Market size and forecast 2022-2027 ($ million)
• Exhibit 69: Chart on Europe - Year-over-year growth 2022-2027 (%)
• Exhibit 70: Data Table on Europe - Year-over-year growth 2022-2027 (%)

• 9.5 APAC - Market size and forecast 2022-2027
• Exhibit 71: Chart on APAC - Market size and forecast 2022-2027 ($ million)
• Exhibit 72: Data Table on APAC - Market size and forecast 2022-2027 ($ million)
• Exhibit 73: Chart on APAC - Year-over-year growth 2022-2027 (%)
• Exhibit 74: Data Table on APAC - Year-over-year growth 2022-2027 (%)

• 9.6 South America - Market size and forecast 2022-2027
• Exhibit 75: Chart on South America - Market size and forecast 2022-2027 ($ million)
• Exhibit 76: Data Table on South America - Market size and forecast 2022-2027 ($ million)
• Exhibit 77: Chart on South America - Year-over-year growth 2022-2027 (%)
• Exhibit 78: Data Table on South America - Year-over-year growth 2022-2027 (%)

• 9.7 Middle East and Africa - Market size and forecast 2022-2027 
• Exhibit 79: Chart on Middle East and Africa - Market size and forecast 2022-2027 ($ million)
• Exhibit 80: Data Table on Middle East and Africa - Market size and forecast 2022-2027 ($ million)
• Exhibit 81: Chart on Middle East and Africa - Year-over-year growth 2022-2027 (%)
• Exhibit 82: Data Table on Middle East and Africa - Year-over-year growth 2022-2027 (%)

• 9.8 US - Market size and forecast 2022-2027
• Exhibit 83: Chart on US - Market size and forecast 2022-2027 ($ million)
• Exhibit 84: Data Table on US - Market size and forecast 2022-2027 ($ million)
• Exhibit 85: Chart on US - Year-over-year growth 2022-2027 (%)
• Exhibit 86: Data Table on US - Year-over-year growth 2022-2027 (%)

• 9.9 China - Market size and forecast 2022-2027
• Exhibit 87: Chart on China - Market size and forecast 2022-2027 ($ million)
• Exhibit 88: Data Table on China - Market size and forecast 2022-2027 ($ million)
• Exhibit 89: Chart on China - Year-over-year growth 2022-2027 (%)
• Exhibit 90: Data Table on China - Year-over-year growth 2022-2027 (%)

• 9.10 UK - Market size and forecast 2022-2027
• Exhibit 91: Chart on UK - Market size and forecast 2022-2027 ($ million)
• Exhibit 92: Data Table on UK - Market size and forecast 2022-2027 ($ million)
• Exhibit 93: Chart on UK - Year-over-year growth 2022-2027 (%)
• Exhibit 94: Data Table on UK - Year-over-year growth 2022-2027 (%)

• 9.11 Japan - Market size and forecast 2022-2027
• Exhibit 95: Chart on Japan - Market size and forecast 2022-2027 ($ million)
• Exhibit 96: Data Table on Japan - Market size and forecast 2022-2027 ($ million)
• Exhibit 97: Chart on Japan - Year-over-year growth 2022-2027 (%)
• Exhibit 98: Data Table on Japan - Year-over-year growth 2022-2027 (%)

• 9.12 Canada - Market size and forecast 2022-2027
• Exhibit 99: Chart on Canada - Market size and forecast 2022-2027 ($ million)
• Exhibit 100: Data Table on Canada - Market size and forecast 2022-2027 ($ million)
• Exhibit 101: Chart on Canada - Year-over-year growth 2022-2027 (%)
• Exhibit 102: Data Table on Canada - Year-over-year growth 2022-2027 (%)

• 9.13 Market opportunity by geography 
• Exhibit 103: Market opportunity by geography ($ million)
• Exhibit 104: Data Tables on Market opportunity by geography ($ million)

10 Drivers, Challenges, and Trends

• 10.1 Market drivers 

• 10.2 Market challenges 

• 10.3 Impact of drivers and challenges 
• Exhibit 105: Impact of drivers and challenges in 2022 and 2027

• 10.4 Market trends 

11 Vendor Landscape

• 11.1 Overview 

• 11.2 Vendor landscape 
• Exhibit 106: Overview on Criticality of inputs and Factors of differentiation

• 11.3 Landscape disruption 
• Exhibit 107: Overview on factors of disruption

• 11.4 Industry risks 
• Exhibit 108: Impact of key risks on business

12 Vendor Analysis

• 12.1 Vendors covered 
• Exhibit 109: Vendors covered

• 12.2 Market positioning of vendors 
• Exhibit 110: Matrix on vendor position and classification

• 12.3 Acquaviva India Pvt. Ltd. 
• Exhibit 111: Acquaviva India Pvt. Ltd. - Overview
• Exhibit 112: Acquaviva India Pvt. Ltd. - Key offerings

• 12.4 CERA Sanitaryware Ltd. 
• Exhibit 113: CERA Sanitaryware Ltd. - Overview
• Exhibit 114: CERA Sanitaryware Ltd. - Product / Service
• Exhibit 115: CERA Sanitaryware Ltd. - Key offerings

• 12.5 Danube Group 
• Exhibit 116: Danube Group - Overview
• Exhibit 117: Danube Group - Product / Service
• Exhibit 118: Danube Group - Key offerings

• 12.6 Elkay Manufacturing Co. 
• Exhibit 119: Elkay Manufacturing Co. - Overview
• Exhibit 120: Elkay Manufacturing Co. - Product / Service
• Exhibit 121: Elkay Manufacturing Co. - Key offerings

• 12.7 Jaquar Group 
• Exhibit 122: Jaquar Group - Overview
• Exhibit 123: Jaquar Group - Product / Service
• Exhibit 124: Jaquar Group - Key offerings

• 12.8 Kajaria Ceramics Ltd. 
• Exhibit 125: Kajaria Ceramics Ltd. - Overview
• Exhibit 126: Kajaria Ceramics Ltd. - Product / Service
• Exhibit 127: Kajaria Ceramics Ltd. - Key offerings

• 12.9 Kohler Co. 
• Exhibit 128: Kohler Co. - Overview
• Exhibit 129: Kohler Co. - Product / Service
• Exhibit 130: Kohler Co. - Key news
• Exhibit 131: Kohler Co. - Key offerings

• 12.10 Kraus USA Inc. 
• Exhibit 132: Kraus USA Inc. - Overview
• Exhibit 133: Kraus USA Inc. - Product / Service
• Exhibit 134: Kraus USA Inc. - Key news
• Exhibit 135: Kraus USA Inc. - Key offerings

• 12.11 LIXIL Corp. 
• Exhibit 136: LIXIL Corp. - Overview
• Exhibit 137: LIXIL Corp. - Business segments
• Exhibit 138: LIXIL Corp. - Key offerings
• Exhibit 139: LIXIL Corp. - Segment focus

• 12.12 Masco Corp. 
• Exhibit 140: Masco Corp. - Overview
• Exhibit 141: Masco Corp. - Business segments
• Exhibit 142: Masco Corp. - Key offerings
• Exhibit 143: Masco Corp. - Segment focus

• 12.13 Moen Inc. 
• Exhibit 144: Moen Inc. - Overview
• Exhibit 145: Moen Inc. - Product / Service
• Exhibit 146: Moen Inc. - Key offerings

• 12.14 Oras Ltd. 
• Exhibit 147: Oras Ltd. - Overview
• Exhibit 148: Oras Ltd. - Product / Service
• Exhibit 149: Oras Ltd. - Key offerings

• 12.15 Roca Sanitario SA 
• Exhibit 150: Roca Sanitario SA - Overview
• Exhibit 151: Roca Sanitario SA - Product / Service
• Exhibit 152: Roca Sanitario SA - Key news
• Exhibit 153: Roca Sanitario SA - Key offerings

• 12.16 Stanley Black and Decker Inc. 
• Exhibit 154: Stanley Black and Decker Inc. - Overview
• Exhibit 155: Stanley Black and Decker Inc. - Business segments
• Exhibit 156: Stanley Black and Decker Inc. - Key news
• Exhibit 157: Stanley Black and Decker Inc. - Key offerings
• Exhibit 158: Stanley Black and Decker Inc. - Segment focus

• 12.17 Toto Ltd. 
• Exhibit 159: Toto Ltd. - Overview
• Exhibit 160: Toto Ltd. - Business segments
• Exhibit 161: Toto Ltd. - Key offerings
• Exhibit 162: Toto Ltd. - Segment focus

13 Appendix

• 13.1 Scope of the report 

• 13.2 Inclusions and exclusions checklist
• Exhibit 163: Inclusions checklist
• Exhibit 164: Exclusions checklist

• 13.3 Currency conversion rates for US$ 
• Exhibit 165: Currency conversion rates for US$

• 13.4 Research methodology 
• Exhibit 166: Research methodology
• Exhibit 167: Validation techniques employed for market sizing
• Exhibit 168: Information sources

• 13.5 List of abbreviations 
• Exhibit 169: List of abbreviations

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