High Efficiency Faucets Market

High Efficiency Faucets Market - Global Industry Analysis, Size, Share, Growth, Trends, and Forecast, 2019 - 2027

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.

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: