India Thermostatic Faucet Market to expand at Steady CAGR of 4.6% during 2023-2029

Published | 27 January 2023

India thermostatic faucet market size is flourishing owing to rising adoption of smart thermostatic faucets in commercial establishments, such as hotels, hospitals, corporations, and beauty and spa centers, as well as rising demand for housing units.

BlueWeave Consulting, a leading strategic consulting and market research firm, in its recent study, expects India thermostatic faucet market size to grow at a CAGR of 4.6% during the forecast period between 2023 and 2029. An increase in consumer spending and an increase in the number of home improvement projects are two significant factors that will hasten the demand for thermostatic faucets. On the other hand, fewer people are buying the products because of supply chain disruptions brought on by the pandemic. Travel restrictions and strict social segregation laws reduce consumer spending and will probably continue to do so for some time. Producers and developers have used a variety of strategies in response to the pandemic to achieve steady growth for the anticipated time frame.

India Thermostatic Faucet Market – Overview

A thermostatic faucet is a device or valve that controls temperature to aid in water delivery. It works by combining the hot and cold water in the plumbing system. The handle, spout, cartridge, lift rod, aerator, mixing chamber, and water inlets aid the user in maintaining a secure shower. Additionally, these features reduce the possibility of scalding and ensure constant water temperature for a predetermined period.

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Growth Drivers

Rising demand for thermostatic faucets

Sales of thermostatic faucets are expected to benefit from the recent strong growth in residential construction. The market for thermostatic faucets is growing as a result of increased housing unit demand and reliance on contemporary faucets and opulent plumbing systems. Another significant factor propelling the growth of the thermostatic faucets market is the increasing acceptance of smart thermostatic faucets in the commercial sector, including hotels, hospitals, corporations, beauty & spa facilities, and other commercial facilities. Because of their many advantages, thermostatic faucets are becoming more and more popular, which is boosting market expansion.

Challenge: High cost of thermostatic faucets

As thermostatic faucets are more expensive than traditional ones, they necessitate a higher initial investment. Thermostatic faucets cost nearly twice as much as standard faucets. The manufacturing cost of thermostatic faucets is higher than that of standard faucets because it requires additional technology and parts, which adds to the overall cost of the thermostatic faucets, stifling market growth.

Impact of COVID-19 on India Thermostatic Faucet Market

To stay ahead of the competition, business players must be more vigilant and forward-thinking as a result of the pandemic. COVID-19 has caused significant changes in the supply chain for smart vending machines, as well as changes in consumer behavior. Because the economic and social effects of COVID differ so greatly across markets and countries, Smart Vending Machine market participants are developing country-specific strategies.

India Thermostatic Faucet Market – By Operation

The thermostatic faucet market in India is segmented based on an operation into Manual and Motion Sensing/Touch Activated. The largest market share currently belongs to manual faucets, which are projected to expand at a CAGR during the forecast period. The increasing construction of apartments and commercial buildings, home renovations, and the replacement of outdated faucets are all contributing factors to the manual growth of the faucets market. Key players are offering a one-stop shop for all sanitary ware and fitting equipment in response to the rising popularity of updated bathrooms and coordinated sanitary ware, fittings, and accessories.

Competitive Landscape

Major players in India thermostatic faucet market include Grohe AG, Kohler Co., Moen, Inc., Cera Sanitaryware Ltd., Rocca Sanitario, Jaguar Group, Geberit AG, Reliance Worldwide Corporation Ltd., Masco Corp., and LIXIL Corp. These companies use various strategies, including increasing investments in their R&D activities, mergers, and acquisitions, joint ventures, collaborations, licensing agreements, and new product and service releases to further strengthen their position in the India thermostatic faucet market.

Don’t miss the business opportunity in the India Thermostatic Faucet Market. Consult our analysts to gain crucial insights and facilitate your business growth.

The in-depth analysis of the report provides information about growth potential, upcoming trends, and statistics of India Thermostatic Faucet Market. It also highlights the factors driving forecasts of total market size. The report promises to provide recent technology trends in India Thermostatic Faucet Market and industry insights to help decision-makers make sound strategic decisions. Furthermore, the report also analyzes the growth drivers, challenges, and competitive dynamics of the market.

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