High Efficiency Faucets: Introduction
- A high efficiency faucet is used to save water in the course of daily usage.
- Environmental Protection Agency estimates that a residential apartment can save an average of 700 gallons of water per year by replacing inefficient faucets and aerators with WaterSense labeled models.
Key Drivers of the Global High Efficiency Faucets Market
- Growing consumer awareness about the need to use water saving products is driving the market growth. Moreover rising demand for plumbing fixtures in modern kitchen bathrooms at the global level is expected to drive the demand for high efficiency faucets in the coming years.
- Rising investment by the urban population on bathroom furniture with aesthetic looks and high efficiency is expected to significantly boost the product demand.
Rising Number of Ecofriendly Homes to Create New Market Opportunities
- Real estate companies are investing in ecofriendly homes and offices by analyzing market demand. These residential and commercial complexes are equipped with ecofriendly products including high efficiency faucets. This factor is expected to create a new avenue for the growth of the market.
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High Product Cost to Hamper the Global High Efficiency Faucets Market
- Large percentage of middle class population prefer to install mid budget bathroom products. Normal faucets are available at a lower price in the market which may hamper the market growth globally.
Asia Pacific Expected to Experience Higher Growth in the Global High Efficiency Faucets Market
- Asia Pacific is expected to be the fastest growing high efficiency faucets market in the coming years. Governments of different countries in the region are promoting water saving activities among consumers which is encouraging them to use high efficiency faucets. Furthermore, companies from different regions are investing in Asia Pacific by understanding the market opportunity. Ease of government policies related to foreign investment in developing countries such as India, China, Sri Lanka, and Bangladesh is significantly affecting product demand.
- North America is expected to hold dominant share in the high efficiency faucets market. High consumer awareness about the importance of water saving on a daily basis is driving product demand. Above 40% of American households have more than one toilet and this trend is expected to have a positive impact on the high efficiency faucets market.
Key Players Operating in the Global Market
The global high efficiency faucets market is slightly fragmented in nature. Companies are promoting their products through the offline and online medium to increase their product visibility among consumers. Moreover, high efficiency faucet companies are investing in infrastructural improvement to compete in this competitive market. Some of the key strategies adopted by manufacturers to improve their market reach are merger & acquisition and partnership with global companies. A few of the key players operating in the global high efficiency faucets market are listed below:
- ALTERED Company
- Moen Incorporated
- Delta Faucets & Fixtures
- Pfister Bathroom & Kitchen Fixtures
- Fisher Manufacturing
- Elkay Manufacturing Company
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Global High Efficiency Faucets Market: Research Scope
Global High Efficiency Faucets Market, by Product
- Pull-down Faucet
- Pull-out Faucet
- Single-handle Faucet
- Double-handle faucet
- Hands-free Faucet
- Delta Kitchen Faucets
Global High Efficiency Faucets Market, by Application
- Corporate Office
- Government Office
- Hospitality Industry
- Educational Institute
Global High Efficiency Faucets Market, by Distribution Channel
- Company Owned Website
- Third Party Website
Global High Efficiency Faucets Market, by Region
- North America
- Rest of Europe
- Asia Pacific
- Rest of Asia Pacific
- Middle East & Africa
- South Africa
- Rest of Middle East & Africa
- South America
- Rest of South America
This study by TMR is all-encompassing framework of the dynamics of the market. It mainly comprises critical assessment of consumers' or customers' journeys, current and emerging avenues, and strategic framework to enable CXOs take effective decisions.
Our key underpinning is the 4-Quadrant Framework EIRS that offers detailed visualization of four elements:
- Customer Experience Maps
- Insights and Tools based on data-driven research
- Actionable Results to meet all the business priorities
- Strategic Frameworks to boost the growth journey
The study strives to evaluate the current and future growth prospects, untapped avenues, factors shaping their revenue potential, and demand and consumption patterns in the global market by breaking it into region-wise assessment.
The following regional segments are covered comprehensively:
- North America
- Asia Pacific
- Latin America
- The Middle East and Africa
The EIRS quadrant framework in the report sums up our wide spectrum of data-driven research and advisory for CXOs to help them make better decisions for their businesses and stay as leaders.
Below is a snapshot of these quadrants.
1. Customer Experience Map
The study offers an in-depth assessment of various customers’ journeys pertinent to the market and its segments. It offers various customer impressions about the products and service use. The analysis takes a closer look at their pain points and fears across various customer touchpoints. The consultation and business intelligence solutions will help interested stakeholders, including CXOs, define customer experience maps tailored to their needs. This will help them aim at boosting customer engagement with their brands.
2. Insights and Tools
The various insights in the study are based on elaborate cycles of primary and secondary research the analysts engage with during the course of research. The analysts and expert advisors at TMR adopt industry-wide, quantitative customer insights tools and market projection methodologies to arrive at results, which makes them reliable. The study not just offers estimations and projections, but also an uncluttered evaluation of these figures on the market dynamics. These insights merge data-driven research framework with qualitative consultations for business owners, CXOs, policy makers, and investors. The insights will also help their customers overcome their fears.
3. Actionable Results
The findings presented in this study by TMR are an indispensable guide for meeting all business priorities, including mission-critical ones. The results when implemented have shown tangible benefits to business stakeholders and industry entities to boost their performance. The results are tailored to fit the individual strategic framework. The study also illustrates some of the recent case studies on solving various problems by companies they faced in their consolidation journey.
4. Strategic Frameworks
The study equips businesses and anyone interested in the market to frame broad strategic frameworks. This has become more important than ever, given the current uncertainty due to COVID-19. The study deliberates on consultations to overcome various such past disruptions and foresees new ones to boost the preparedness. The frameworks help businesses plan their strategic alignments for recovery from such disruptive trends. Further, analysts at TMR helps you break down the complex scenario and bring resiliency in uncertain times.
The report sheds light on various aspects and answers pertinent questions on the market. Some of the important ones are:
1. What can be the best investment choices for venturing into new product and service lines?
2. What value propositions should businesses aim at while making new research and development funding?
3. Which regulations will be most helpful for stakeholders to boost their supply chain network?
4. Which regions might see the demand maturing in certain segments in near future?
5. What are the some of the best cost optimization strategies with vendors that some well-entrenched players have gained success with?
6. Which are the key perspectives that the C-suite are leveraging to move businesses to new growth trajectory?
7. Which government regulations might challenge the status of key regional markets?
8. How will the emerging political and economic scenario affect opportunities in key growth areas?
9. What are some of the value-grab opportunities in various segments?
10. What will be the barrier to entry for new players in the market?
Note: Although care has been taken to maintain the highest levels of accuracy in TMR’s reports, recent market/vendor-specific changes may take time to reflect in the analysis.