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Kitchen Faucets Market - By Type (Pot Filler Faucets, Pull Out Faucets, Pull Down Faucets, Single Hand Faucets), By Installation (Wall Mount, Deck Mount), By Material (Copper, Stainless Steel, Brass), By Distribution Channel, By End Use & Forecast 2023-2032
- Report ID: GMI4998
- Published Date: Mar 2023
- Report Format: PDF
Industry Statistics
Kitchen Faucets Market size surpassed USD 6 billion in 2022 and is anticipated to register 9.5% CAGR from 2023 to 2032, driven by the rising expenditure on residential renovations.
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The growing need for upgraded and modular kitchens, as well as the need for multipurpose plumbing fixtures with aesthetic features, have increased the demand for a range of faucets. Touch-activated faucets, which are considerably more hygienic, are gaining traction as people are becoming more concerned about hand wash hygiene.
Furthermore, homeowners are spending more on home improvements and for remodeling of kitchen for which they are increasingly opting for sustainable alternatives that are more cost-effective in the long term. Many significant retailers are also aiming to update their storefronts with eco-friendly and sustainable items in response to client demand on online platforms, which is likely to promote kitchen faucets market growth by 2032.
| Report Coverage | Details |
|---|---|
| Base Year: | 2022 |
| Market Size in 2022: | USD 6.0 Billion |
| Forecast Period: | 2023 to 2032 |
| Forecast Period 2023 to 2032 CAGR: | 9.5% |
| 2032 Value Projection: | USD 15.5 Billion |
| Historical Data for: | 2018 to 2022 |
| No. of Pages: | 100 |
| Tables, Charts & Figures: | 703 |
| Segments covered: | Type, Installation, Material, Distribution Channel, End-Use |
| Growth Drivers: |
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| Pitfalls & Challenges: |
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Growing availability of low-quality faucets to impede industry outlook
The rising popularity of major faucet brands has led to the proliferation of counterfeit brands, which has hampered kitchen faucets market development. Additionally, most counterfeit brands are seen in underdeveloped nations where consumers choose low-cost products over high-quality products, making it difficult for the original faucet brands to generate revenue. However, major brands, on the other hand, are attempting to establish a strong business presence through collaborations with popular retailer outlets and by boosting product authenticity and distinctiveness.
Better customer experience and reliability to promote product sales through offline stores
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The kitchen faucets market from the offline segment is slated to cross USD 11.5 billion by 2032. Collaborations with wholesalers boost a company's physical presence and aid in expanding its consumer base. In addition, customers often seek advice and assistance from salespersons before purchasing faucets and other plumbing fitting products. Moreover, buying plumbing fittings from stores minimizes the possibility of purchasing a defective product. Hence, the reliability provided by offline stores are projected to push product sales through wholesalers and retailers, thereby stimulating sector growth.
Growing preference for deep kitchen sinks to escalate pull-down faucets demand
The market for pull down faucets is poised to attain 9.5% gains between 2023 and 2032 attributed to the higher customer demand for these kitchen faucets as they offer more control. Also, the increased mobility, convenience and need for having a deep kitchen sink has increased the product preference. The adjustability of spouts and spraying patterns prove beneficial for cleaning, which helps in keeping the sink area clean. The device also has a minimal twisting of the hose, which enhances its durability and functionality, thereby favoring product adoption by 2032.
Increasing deployment at commercial kitchens setups to impel market progression
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Commercial kitchen faucets market is expected to witness 9% growth through 2032. Commercial-style faucets with functional upgrades are a vital component when developing or rebuilding a modern commercial kitchen. These faucets are important to a food business as they enhance efficiency and can even handle high water flow and pressure while instantly filling pots and pans with water, which is essential in a fast-paced setting such as commercial kitchens. For example, the high temperatures of pots and pans removed from burners are driving the requirement for specially designed stainless steel kitchen faucets, which is projected to fuel product demand.
Rising awareness about water conservation to augment Asia Pacific industry
APAC kitchen faucets market is estimated to amass USD 5.5 billion revenue by 2032 owing to an increasing inclination for luxury residential apartments, as well as growing awareness about water conservation, which promotes the requirement of highly efficient kitchen faucets. The booming HORECA sector has raised the number of restaurants and cloud kitchens, which is expected to garner the regional market demand. Supporting government regulations pertaining to foreign investment in developing nations, such as China, India, Malaysia, and Vietnam, coupled with the rising integration of innovative technologies in kitchen faucets, will bolster the business growth by 2032.
Product innovations to define the competitive landscape
Major companies operating in the kitchen faucets business scenario are Kohler Co., Lixil Group, Colston, Jaquar, Chicago Faucets, Sloan, Roca Bathroom Products Pvt. Ltd. (Parryware), Moen Incorporated, Grohe America Inc, Signature Hardware, Masco Corporation, Delta Faucet Company, Hansgrohe and TOTO Ltd. These companies are anticipated to launch innovative products and broaden their product offerings in the market. For instance, in February 2022, Moen Incorporated, a leading producer of plumbing goods, introduced Cia, a soft, contemporary kitchen line that features touchless and voice-activation technology, as well as Moen faucets with 'MotionSense Wave' technology that enables touchless activation with a single sensor and simple water on/off operation.
Impact of COVID-19 on the kitchen faucets market trends
The COVID-19 pandemic has prompted several economic, logistical, and supply chain problems in virtually all businesses. Inflationary pressures, along with supply chain and logistic challenges with raw materials and components shipment, have resulted in price hikes across all construction sectors, including plumbing fittings. This had a substantial influence on both the costs of competing projects as well as the completion times, especially when coupled with labor shortages and a strong demand for building and renovation across multiple industries. However, the market for kitchen faucets is poised to gain momentum as a result of lowering infection rates and the resumption of commercial and residential development activities.
This market research report on kitchen faucets includes in-depth coverage of the industry with estimates & forecast in terms of volume in Thousand Units and revenue in USD Million from 2018 to 2032 for the following segments:
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Market, By Type
- Pull Out Faucets
- Pull Down Faucets
- Single Handle Faucets
- Dual Handle Faucets
- Separate Spray Faucets
- Pot Filler Faucets
- Motion Detection Faucets
- Others
Market, By Installation
- Wall Mount
- Deck Mount
Market, By Material
- Copper
- Stainless Steel
- Brass
- Others
Market, By Distribution Channel
- Online
- Offline
Market, By End Use
- Residential
- Commercial
Market, By Region
- North America
- U.S.
- Canada
- Mexico
- Europe
- Germany
- UK
- France
- Spain
- Italy
- Russia
- Asia Pacific
- China
- India
- Japan
- Australia
- Malaysia
- South Korea
- Thailand
- Latin America
- Brazil
- Middle East & Africa
- South Africa
- Saudi Arabia
- UAE