Electric Taps Market Growth, Size, and Trends Forecast till 2032
Explore the Electric Taps Market, focusing on size, share, growth trends, technological innovations, and market challenges, with key forecasts and industry insights till 2032.
The Electric Taps Market sector is undergoing significant transformation, with substantial growth and technological advancements expected by 2032. According to a new in-depth market research report, the sector is poised for expansion, driven by various factors such as market size, share, and emerging trends.
This comprehensive report provides key insights into the Electric Taps Market, exploring critical market segmentation and definitions. It highlights the essential components driving growth, offering a clear picture of the industry’s trajectory. Utilizing SWOT and PESTEL analyses, the report evaluates the market’s strengths, weaknesses, opportunities, and threats, while also considering political, economic, social, technological, environmental, and legal factors that impact the market landscape.
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Market Summary:
The global electric taps market size was USD 396.9 million in 2020 and is projected to grow from USD 429.7 million in 2021 to USD 877.2 million in 2028 at a CAGR of 10.7% during the 2021-2028 period. The global impact of COVID-19 has been unprecedented and staggering, with electric taps witnessing a positive impact on demand across all regions amid the pandemic. Based on our analysis, the global market exhibited a lower growth of 6.9% in 2020 compared to the average year-on-year growth during 2017-2019. The rise in CAGR is attributable to this market’s demand and growth, returning to pre-pandemic levels once the pandemic is over.
Recent industry developments are;
- Jaguar introduced wall and deck mounted ‘Blush Sensor Faucets,’ a smart design that integrates quick-response and high-accuracy sensors right into the spout. It is specifically suitable for commercial bathroom spaces.
- Kohler Co. launched its 1st ‘Tech Centre’ in Gujarat, India. The tech center displays industry-leading product designs. The company has invested nearly USD 200.0 million in India up till now.
Browse Detailed TOC, Tables and Figures with Charts which is spread across 100+ Pages that provides exclusive data, information, vital statistics, trends, and competitive landscape details in this niche sector.
Major Players:
LIXIL Corporation (Tokyo, Japan), Masco Corporation (Michigan, U.S.), Wenzhou Bomei Sanitary Ware Co., Ltd (Zhejiang, China), Jaquar (Gurgaon, India), Kohler Co. (Wisconsin, U.S.), Taizhou Hengyida Plastic Plumbing Factory (Zhejiang, China), Toto Ltd. (Fukuoka, Japan), Euronics Industries Pvt Ltd (Gurgaon, India), Havells India Ltd. (Uttar Pradesh, India), Fortune Brands Home & Security, Inc. (Illinois, U.S.)
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Electric Taps Market Segmentation:
By Type
- Instant Heating Taps
- Touchless Taps
By Mounting Type
- Deck-mounted
- Wall-mounted
By Application
- Commercial
- Restaurants/Hotels
- Offices
- Medical Facilities
- Entertainment Places
- Others (Airports, etc.)
- Residential
Reasons to purchase this report:
This report offers a detailed analysis of the competitive landscape, emerging growth areas, market conditions, and key trends within the Electric Taps Market. It helps businesses identify expansion opportunities while addressing potential risks and challenges. By assessing product portfolios and business segments, the report provides valuable insights that guide stakeholders in formulating informed investment and market strategies.
The in-depth understanding of industry dynamics presented in the report supports the creation of effective strategies for success in the Electric Taps Market, greatly enhancing decision-making. Overall, this report is an essential resource for those looking to stay updated in this rapidly evolving industry.
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Drivers & Restraints:
- Drivers:
- Increasing focus on hygiene and convenience in residential and commercial spaces driving the adoption of electric taps.
- Technological advancements in sensor and control technologies improving the efficiency and functionality of electric taps.
- Restraints:
- High installation and maintenance costs may deter consumers from transitioning to electric tap solutions.
- Concerns about reliability and power outages impacting the performance and appeal of electric taps in some regions.
Table of Contents:
- Introduction
- Research Scope
- Market Segmentation
- Research Methodology
- Definitions and Assumptions
- Executive Summary
- Market Dynamics
- Market Drivers
- Market Restraints
- Market Opportunities
- Key Insights
- Key Industry Developments – Merger, Acquisitions, and Partnerships
- Porter’s Five Forces Analysis
- SWOT Analysis
- Technological Developments
- Value Chain Analysis
TOC Continued…!
Electric Taps Market Regional Segmentation:
- North America (Type, Mounting Type, Application and Country)
- U.S. (By Application, Commercial)
- Canada (By Application, Commercial)
- Mexico (By Application, Commercial)
- Europe (Type, Mounting Type, Application, Commercial Application, and Country)
- United Kingdom (By Application, Commercial)
- Germany (By Application, Commercial)
- France (By Application, Commercial)
- Italy (By Application, Commercial)
- Spain (By Application, Commercial)
- Russia (By Application, Commercial)
- Benelux (By Application, Commercial)
- Nordics (By Application, Commercial)
- Rest of Europe
- Asia Pacific (Type, Mounting Type, Application, Commercial Application, and Country)
- China (By Application, Commercial)
- India (By Application, Commercial)
- Japan (By Application, Commercial)
- South Korea (By Application, Commercial)
- ASEAN (By Application, Commercial)
- Oceania (By Application, Commercial)
- Rest of Asia Pacific
- The Middle East & Africa (Type, Mounting Type, Application, Commercial Application, and Country)
- Turkey (By Application, Commercial)
- Israel (By Application, Commercial)
- GCC (By Application, Commercial)
- North Africa (By Application, Commercial)
- South Africa (By Application, Commercial)
- Rest of the Middle East & Africa
- South America (Type, Mounting Type, Application, Commercial Application, and Country)
- Brazil (By Application, Commercial)
- Argentina (By Application, Commercial)
- Rest of South America
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