The Global Thermostatic Faucet Market size is expected to reach $12.6 billion by 2027, rising at a market growth of 9.5% CAGR during the forecast period. A thermostatic faucet is also known as a thermostatic mixing valve. It is used to blend hot and cold water automatically to get warm water at the predetermined temperature. An adjustable thermostatic valve is present inside the faucet, which helps in balancing the water pressure of hot and cold water automatically in a short period. It also assists in maintaining the consistency of the water temperature flowing out from the tap without any interference from humans.
Normally, the conventional faucets are controlled manually for adjusting the temperature of the water coming out from the passage. At some times, shower faucets are appropriate to take shower as it is capable to balance the temperature and pressure of the water. Conventional faucets are appropriate to use at different places like in washbasins.
These faucets can be used very comfortably, especially in the winter season, faucets play an important role as it is capable to provide the warm water. There are also quick-heating faucets that are safer to use in various circumstances. Several thermostatic faucets offer protection from over-temperature, owing to this number of people are implementing these faucets in their washroom and kitchen. Few thermostatic faucets are easy to use as it provides features like adjustable water temperature & flow rate, touch screen control, and second-speed constant temperature.
The global outbreak of the COVID-19 pandemic has affected all sectors of the market. The government has imposed severe restrictions for maintaining social distance and traveling. This aspect hindered the supply of products due to which, the market of thermostatic faucet faced a slowdown. The coronavirus pandemic has positively impacted the market of thermostatic faucets and created new lucrative growth opportunities. This impact has its significance in the first quarter but gradually gets lower in the subsequent quarters, due to this there is not much lost in the thermostatic faucet market.
The demand for thermostatic faucets decreased during the pandemic due to the decline in construction and renovation projects. In addition, the pandemic severely affected the supply chain of the thermostatic faucet, this is accounted to decline the demand for the product. Strict social distancing regulations by the government across the globe led to a decline in consumer spending. In contrast, the world economy is reviving and it is expected that the market of thermostatic faucets will witness lucrative growth opportunities in the upcoming years.
Thermostatic faucet is playing a key role in conserving water. The application of these faucets in residential and commercial sectors is helping in limited usage of water and reduces water wastage. Key companies are manufacturing such faucets that reach preferred water temperature quickly and remain constant till the temperature is not changed again.
The major benefit of using a thermostatic faucet is that it can easily control the temperature of water automatically, by blending hot and cold water at a predetermined temperature. This helps in reducing the risk of scalding. The higher temperature can burn the skin, especially of elder & sensitive skin people. Additionally, these faucets automatically shut off the flow of hot water when the cold water is cut off, thus this system helps in avoiding possible burns.
Thermostatic faucets need more initial investment as they are expensive. These faucets are almost twice in price as compared to the normal faucet. The manufacturing cost of thermostatic faucets is comparatively high than normal faucets because it requires additional technology and parts, which adds to the overall cost of the thermostatic faucets and thus, hampering the growth of the market.
Based on Product, the market is segmented into Two Handle Mixers, Single Lever Mixers and Other Products. Two-handle mixers are comparatively cheaper than single-level mixers and are easily available in the market, due to these features, the demand for two-handle mixers is surging. The two handle mixers comprise a spout and two taps. The two-handle faucets have two distinct handles that separately control the cold and hot water then it is mixed by the spout placed in it. Organizations are majorly concentrating to offer top-quality products to their customers.
Based on End User, the market is segmented into Residential and Commercial. The growing number of housing units and customer demand for advanced faucets is augmenting the thermostatic faucet market in the residential sector. As stated by European Union, the government of Germany has introduced some measures aiming at the expansion of the country’s housing market. The government has given a significant amount for the construction of many rental units, which will also accelerate the market of thermostatic faucets in the upcoming years.
| Report Attribute | Details |
|---|---|
| Market size value in 2020 | USD 5.3 Billion |
| Market size forecast in 2027 | USD 12.6 Billion |
| Base Year | 2020 |
| Historical Period | 2017 to 2019 |
| Forecast Period | 2021 to 2027 |
| Revenue Growth Rate | CAGR of 9.5% from 2021 to 2027 |
| Number of Pages | 143 |
| Number of Tables | 250 |
| Report coverage | Market Trends, Revenue Estimation and Forecast, Segmentation Analysis, Regional and Country Breakdown, Companies Strategic Developments, Company Profiling |
| Segments covered | Product, End User, Region |
| Country scope | US, Canada, Mexico, Germany, UK, France, Russia, Spain, Italy, China, Japan, India, South Korea, Singapore, Australia, Brazil, Argentina, UAE, Saudi Arabia, South Africa, Nigeria |
| Growth Drivers |
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| Restraints |
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Based on Regions, the market is segmented into North America, Europe, Asia Pacific, and Latin America, Middle East & Africa. North America acquired the maximum revenue share in 2020. The region will exhibit moderate growth rate during the forecast period. The demand for thermostatic faucets is surging due to the increment in the demand for kitchen and bathroom equipment. In addition, there is a significant rise in the awareness about conservation of water, thereby propelling the demand for thermostatic faucets in this region.
Free Valuable Insights: Global Thermostatic Faucet Market size to reach USD 12.6 Billion by 2027
The market research report covers the analysis of key stake holders of the market. Key companies profiled in the report include Hangzhou Oulin Sanitary Ware Co., Ltd., Kohler Co., Roca Sanitario SA, Moen Incorporated (Fortune Brands), Masco Corporation, LIXIL Corporation, Geberit AG (Doughty Hanso), Reliance Worldwide Corporation Ltd., Cera Sanitaryware Ltd., and Jaquar Group.
By Product
By End User
By Geography
The thermostatic faucet acid market size is projected to reach USD 12.6 billion by 2027.
Helps in controlling the temperature of the water are driving the market in coming years, however, thermostatic faucets are expensive than normal faucet limited the growth of the market.
Hangzhou Oulin Sanitary Ware Co., Ltd., Kohler Co., Roca Sanitario SA, Moen Incorporated (Fortune Brands), Masco Corporation, LIXIL Corporation, Geberit AG (Doughty Hanso), Reliance Worldwide Corporation Ltd., Cera Sanitaryware Ltd., and Jaquar Group.
The coronavirus pandemic has positively impacted the market of thermostatic faucets and created new lucrative growth opportunities.
The single lever product segment dominated the market in 2020. Moreover, the segment would be the fastest growing segment during the forecast period.
Asia-Pacific would emerge as the fastest-growing region in the thermostatic faucet market during the forecast period.
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