Thermostatic Faucets Market: Introduction
- A thermostatic faucet is a device or valve that helps to release or deliver water by adjusting it to a required temperature. It operates by mixing hot and cold water from a plumbing system.
- Handle, spout, cartridge, lift rod, aerator, mixing chamber, and water inlets help the user to maintain a safe shower, ensure constant water temperature for a certain time duration, and prevent the risk associated with scalding.
Rising Demand for Thermostatic Faucets: A Key Driver
- Robust growth in construction in the residential sector in recent years is expected to generate a positive impact on sales of thermostatic faucets. Rising demand for housing units and dependency on modern faucets and luxury plumbing systems is driving the growth of the thermostatic faucets market. Rising popularity of smart thermostatic faucets in the commercial sector such as in hotels, hospitals, corporates, beauty & spa centers, and other commercial facilities is also a major factor propelling the growth of the thermostatic faucets market. In addition, increasing awareness about the usage of thermostatic faucets due to its multiple benefits is also encouraging the growth of the market.
Economic Slowdown: A Key Restraint
- Several countries imposing lockdown due to impact of the COVID-19 pandemic situation has restrained the growth of the thermostatic faucets market. Lack of supply of raw materials, decline in construction activities, and imposition of trade barriers may act as major challenging factors for the growth of the thermostatic faucets market.
- However, manufacturers collaborate with architects, designers, and contractors by offering them innovative faucets and promoting their products through several online channels. This is an opportunity for the growth of the thermostatic faucets market.
Asia Pacific a Potential Market for Thermostatic Faucets
- The global thermostatic faucets market can be divided into five regions: North America (NA), Europe (EU), Asia Pacific (APAC), Middle East & Africa (MEA), and South America (SA)
- North America country-level analysis features the U.S., Canada, and Rest of North America. Analysis and forecast of the thermostatic faucets market in Europe includes the U.K., Germany, France, and Rest of Europe. Similarly, the market in Asia Pacific comprises India, China, Japan, and Rest of Asia Pacific. Middle East & Africa includes GCC, South Africa, and Rest of Middle East & Africa. The thermostatic faucets market in South America has been segmented into Brazil and Rest of South America.
- Asia Pacific is expected to remain a potential market for the growth of thermostatic faucets during the forecast period, owing to the strong presence of the residential and commercial sector in the region over the last few decades.
Key Players Operating in the Global Thermostatic Faucets Market
The global thermostatic faucets market is widely fragmented, due to presence of several regional and global players. Key players adopt new product development, acquisitions, mergers, and agreements as their key development strategy to remain competitive and enhance their customer base in the market.
A few of the key players operating in the global thermostatic faucets market are as follows:
- Grohe AG
- Kohler Co.
- Moen, Inc.
- Cera Sanitaryware Ltd.
- Roca Sanitario, S.A.
- Jaguar Group
- Geberit AG
- Reliance Worldwide Corporation Ltd.
- Masco Corp.
- LIXIL Corp.
Global Thermostatic Faucets Market: Research Scope
Global Thermostatic Faucets Market, by Hand Type
Global Thermostatic Faucets Market, by Handle
- Single Handle
- Multi Handle
Global Thermostatic Faucets Market, by Operation
- Motion Sensing & Touch Activated
Global Thermostatic Faucets Market, by Sprayer Type
- Side Sprayer
Global Thermostatic Faucets Market, by Installation
- Deck Mount
- Wall Mount
Global Thermostatic Faucets Market, by Material
- Stainless Steel
- Others (Copper, Brass, etc.)
Global Thermostatic Faucets Market, by Pricing
- Below US$ 75
- US$ 75-US$ 300
- Above US$ 300
Global Thermostatic Faucets Market, by End-use
- Others (Spa & Beauty Centers, Laundry, etc.)
Global Thermostatic Faucets Market, by Distribution Channel
- E-commerce Sites
- Company Websites
- Specialty Stores
- Independent Stores
- Others (Mega Retail Stores, Departmental Stores, etc.)
The report on the global thermostatic faucets market is a compilation of first-hand information, qualitative and quantitative assessment by market analysts, and inputs from market experts and market participants across the value chain. The report provides in-depth analysis of parent market trends, macroeconomic indicators, and governing factors, along with market attractiveness of each segment. The report also maps the qualitative impact of various factors on regional and other segments of the market.
Regional Analysis of the Global Thermostatic Faucets Market:
- North America
- Asia Pacific
- Middle East & Africa (MEA)
- 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.