Taps Market | Contrive Datum Insights

The Global Taps Market Overview:

The tap is a valve that controls the discharge of water. The faucet is an important part of the home and is getting more and more attention from consumers and manufacturers. Rising urbanization has led to an increase in construction activities across the globe, which is driving the growth of the faucet market. Increasing usage of smart faucet accessories for water conservation is further driving the growth of the faucet market. With the introduction of innovative technologies, manufacturers are offering a wide range of digital and electronic water taps for the home and commercial sectors.

Taps market size, estimates, and forecasts are provided in terms of sales volume (K Units) and revenue (million USD), with historical and forecast data for the period 2017 to 2030, with 2022 being considered as the base year. This report segments the global Taps market in detail. Regional market sizes related to products by type, by application, and by the player are also delivered. In estimating the size of the market, we took into account the impact of COVID-19 and the Russian-Ukraine war.

Key Market Updates:

• In December 2020, Jaguar launched Jaguar World in Seoul, South Korea. The aim of the new Jaguar World launch is to showcase a range of new bathroom solutions that will be on display for consumers throughout the store.
• In March 2021, Jaguar launched a new range of wall-mounted and countertop-mounted "Blush Sensing Faucets". The newly launched product adopts intelligent design, integrates a quick response function, and installs a high-precision sensor in the nozzle. It is ideal for use exclusively in commercial bathroom spaces.

Major Segments Covered in the Global Taps Market:

Market Key Players:
WALTER, WIDIN Co Ltd, Bordo Industrial Pty ltd, IZAR CUTTING TOOLS S.A.L, Carmon, Widia Manchester, DC Swiss, Euroboor BV, Fratelli Vergnano S.r.l, G?HRING, KATO Fastening Systems, KOMET Deutschland GmbH, Dormer Pramet, RUKO GmbH Pr?zisionswerkzeuge, Kennametal., And Others.

Taps Market by Types:

• HSS, Carbide, Steel, Metal, Stainless steel, Others

Taps Market by Applications:

• Monobloc, For blind holes, Through-hole, Straight flute, Straight point, Other

Taps Market by Regions:

The report estimates revenue growth at the worldwide, regional, and country levels and delivers an analysis of the recent industry trends in each sub-segment from 2017 to 2030.

The global faucet market belongs to the Asia Pacific region, which holds the largest market share. Increased investment in infrastructure development, construction of new housing units, high standard of living, increase in disposable income, increased spending on home improvement, and use of high-end decorative products. Moreover, rapid growth in construction activities will drive the market in Asia Pacific.

• North America
• US
• Canada
• Mexico
• Rest of North America
• Europe
• Germany
• France
• Italy
• Spain
• UK
• Nordic Countries
• Denmark
• Finland
• Iceland
• Sweden
• Norway
• Benelux Union
• Belgium
• The Netherlands
• Luxembourg
• Rest of Europe
• Asia-Pacific
• Japan
• China
• India
• Australia
• South Korea
• Southeast Asia
• Indonesia
• Thailand
• Malaysia
• Singapore
• Rest of Southeast Asia
• Rest of Asia-Pacific
• The Middle East & Africa
• Saudi Arabia
• UAE
• Egypt
• South Africa
• Rest of the Middle East & Africa
• Latin America
• Brazil
• Argentina
• Rest of Latin America

Significant Market Dynamics:

Rising consumer disposable income is one of the major factors driving the growth of the global faucet market. Growing consumer demand for home remodeling and stylish smart bathroom accessories is expected to increase the demand for the global faucets market. The introduction of sensor-based faucets to ensure excellent hygiene standards and water conservation is also expected to drive the growth of the global faucets market over the forecast period. Accelerated urbanization and infrastructure development projects have resulted in water and energy shortages. This situation is expected to lead to the increasing adoption of smart bathroom accessories, of which bathroom faucets are one, thereby driving the growth of the global faucet market over the forecast period.

Certain challenges faced will hamper the growth of the overall market. Factors such as lack of skilled labor and installation of sensor-based faucets create high costs compared to traditional faucets. These factors restrain the market growth. Moreover, faucets stop working in case of power outages is a potential restraint hampering the overall growth of the global faucet market. Nonetheless, the significant expansion of online distribution channels, the commercial sector, and the untapped potential of emerging markets offer favorable growth opportunities.

Report Scope of Global Taps Market:

Points Covered in the Report

• The points that are discussed within the report are the major market players that are involved in the Market such as Market players, raw material suppliers, equipment suppliers, end users, traders, distributors and etc.
• The complete profile of the companies is mentioned. And the capacity, production, price, revenue, cost, gross, gross margin, sales volume, sales revenue, consumption, growth rate, import, export, supply, future strategies, and the technological developments that they are making are also included within the report. This report analyzed 12 years of data history and forecast.
• The growth factors of the market are discussed in detail wherein the different end users of the market are explained in detail.
• Data and information by market player, region, type, application and etc., and custom research can be added according to specific requirements.
• The report contains a SWOT analysis of the market. Finally, the report contains the conclusion part where the opinions of the industrial experts are included.

Frequently Asked Questions-

What is the CAGR of Taps market?

The Taps Market is growing at a CAGR of % During Forecast Period.

 What are the key types and applications of Taps market?

- HSS, Carbide, Steel, Metal, Stainless steel, Others

- Monobloc, For blind holes, Through-hole, Straight flute, Straight point, Other

Who are the key players in Taps market?

WALTER, WIDIN Co Ltd, Bordo Industrial Pty ltd, IZAR CUTTING TOOLS S.A.L, Carmon, Widia Manchester, DC Swiss, Euroboor BV, Fratelli Vergnano S.r.l, G?HRING, KATO Fastening Systems, KOMET Deutschland GmbH, Dormer Pramet, RUKO GmbH Pr?zisionswerkzeuge, Kennametal., And others.

Any special requirements about this report, please let us know and we can provide a custom report.

Note – In order to provide a more accurate market forecast, all our reports will be updated before delivery by considering the impact of COVID-19 and the Russia-Ukraine war.