Electric Taps Market Trends, Drivers, and Revenue Analysis 2024

The Electric Taps Market Size and Trends Analysis, with Forecast 2020-2028. This latest market research report contains a wealth of useful insights and data, such as global market size, regional shares, and competitor market share. Additionally, it discusses current trends, future opportunities, and critical data for industry success.

According to Fortune Business Insights, the Electric Taps Market size has increased significantly in recent years. It will increase from USD 396.9 million in 2020 to USD 877.2 million million in 2028, with a compound annual growth rate (CAGR) of 10.7%. The research report provides a comprehensive assessment, including strategic insights into future trends, growth drivers, supply-demand dynamics, annual growth rates, CAGR, and pricing trends. It also includes a number of business frameworks, including Porter’s Five Forces, PESTLE, Value Chain, Four Ps, Market Attractiveness, BPS, and Ecosystem Analyses, which provide a comprehensive picture of the market landscape.

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Major Key Players of the Market:

• 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:

Electric Taps Market Size, Share & COVID-19 Impact Analysis, By Type (Instant Heating, Touchless), By Mounting Type (Deck-mounted, Wall-mounted), By Application (Commercial, Residential), and Regional Forecast, 2021-2028

Reasons to purchase this report:

This report provides a detailed analysis of the Electric Taps Market’s competitive landscape, emerging growth areas, market conditions, and key trends. It allows businesses to identify opportunities for growth while also recognizing potential risks and challenges. The report provides valuable insights by evaluating product portfolios and business segments, allowing stakeholders to develop informed investment and market strategies.

A thorough understanding of the industry dynamics presented in the report will help to develop effective strategies for success in the Electric Taps Market, significantly improving decision-making processes. Overall, this report is an invaluable resource for anyone looking to stay current on this rapidly changing 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

FAQ’s:

• What are the key drivers behind the growth of the global electric taps market?

  • The primary drivers of the electric taps market include rising urbanization, increased demand for smart home products, growing awareness of water conservation, and technological advancements in plumbing fixtures. The pandemic also accelerated the demand for touchless and hygienic solutions in residential and commercial spaces, further boosting market growth.

• How did the COVID-19 pandemic impact the demand for electric taps?

  • The COVID-19 pandemic had a positive impact on the demand for electric taps, as touchless and hygienic solutions became more important in both residential and commercial applications. The market saw a growth of 6.9% in 2020, and it is expected to return to pre-pandemic growth rates as global construction activities resume and health-conscious innovations continue to drive demand.

• What are the major trends in the electric taps market?

  • Key trends include the increasing adoption of touchless and sensor-based technologies in electric taps, integration with smart home systems, and a growing focus on energy-efficient and eco-friendly products. Consumers are also prioritizing hands-free solutions that enhance hygiene and convenience in kitchens and bathrooms.

• Which region is leading the global electric taps market?

  • Asia Pacific is expected to be a key region for the electric taps market, driven by rapid urbanization, rising disposable incomes, and increasing awareness of smart home technologies in countries like China, India, and Japan. Europe and North America are also significant markets, particularly in the commercial sector.

• Who are the major players in the global electric taps market?

  • Leading companies in the electric taps market include LIXIL Corporation (Japan), Masco Corporation (U.S.), Kohler Co. (U.S.), Jaquar (India), Toto Ltd. (Japan), Havells India Ltd. (India), and Fortune Brands Home & Security, Inc. (U.S.). These players focus on product innovation and expanding their portfolios to meet the growing demand for smart and hygienic solutions.

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