The Asia Pacific Faucet Market would witness market growth of 7.7% CAGR during the forecast period (2024-2031). In the year 2022, the Asia Pacific market's volume surged to 190.14 million units, showcasing a growth of 24.3% (2020-2023).
Electronic manuals, also known as e-manuals or digital manuals, are digital versions of traditional printed manuals used for various products across industries. They serve as comprehensive guides accessible through electronic devices like computers, tablets, and smartphones. Thus, the China market is expected to utilize 34.05 million units of electric faucet by 2031.
The China market dominated the Asia Pacific Faucet Market by Country in 2023, and would continue to be a dominant market till 2031; thereby, achieving a market value of $6,103.8 Million by 2031. The Japan market is registering a CAGR of 7.2% during (2024 - 2031). Additionally, The India market would showcase a CAGR of 8.4% during (2024 - 2031).
Sensor faucets, which are also referred to as touchless faucets, have gained popularity in both residential and commercial environments. By utilizing infrared sensors that sense the presence of hands, these faucets are able to automatically activate and deactivate the water flow when the hands are withdrawn from the faucet.
Moreover, this hands-free operation offers unparalleled convenience, especially when maintaining hygiene is critical. For instance, public restrooms in airports, shopping malls, and hospitals often feature touchless faucets to minimize the spread of germs.
Emerging economies like India and China are at the forefront of this urbanization trend. For instance, the Ministry of Housing and Urban Affairs estimated that the urban population will increase to approximately 600 million (40%) by 2031 and 850 million (50%) by 2051. The government's flagship program, "Housing for All," aims to build 20 million urban housing units by 2022, significantly contributing to faucet demand. Furthermore, according to the National Real Estate Development Council (NAREDCO), the real estate sector in India is expected to reach a market size of $1 trillion by 2030.
Free Valuable Insights: The Global Faucet Market is Predict to reach USD 60.3 Billion by 2031, at a CAGR of 7.3%
Based on Product Type, the market is segmented into Manual and Electronic Based on Application, the market is segmented into Bathroom, Kitchen, and Others. Based on End User, the market is segmented into Residential and Commercial. Based on countries, the market is segmented into China, Japan, India, South Korea, Singapore, Malaysia, and Rest of Asia Pacific.
By Product Type (Volume, Million Units, USD Billion, 2020-2031)
By Application (Volume, Million Units, USD Billion, 2020-2031)
By End User (Volume, Million Units, USD Billion, 2020-2031)
By Country (Volume, Million Units, USD Billion, 2020-2031)
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