India Thermostatic Faucet Market
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.
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.
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.
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.
BlueWeave Consulting provides comprehensive Market Intelligence (MI) Solutions to businesses regarding various products and services online and offline. We offer all-inclusive market research reports by analyzing both qualitative and quantitative data to boost the performance of your business solutions. BlueWeave has built its reputation from the scratch by delivering quality inputs and nourishing long-lasting relationships with its clients. We are one of the promising digital MI solutions companies providing agile assistance to make your business endeavors successful.
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- India Thermostatic Faucet Market - By Type (Single Lever Mixer, Two Handle Mixer, Others); By Operation (Manual, Motion Sensing/Touch Activated); By Installation (Deck Mount, Wall Mount); By Material (Chrome, Stainless Steel, Bronze, Nickel, Others); By End User (Commercial, Residential), Trend Analysis, Competitive Landscape & Forecast, 2019–2029
Publish Date: January 2023
Thermostatic faucets aid in water conservation, water temperature regulation, raising awareness of the benefits of the thermostatic faucet, and increasing demand for luxury products could boost the growth of India Thermostatic Faucet Market during the forecast period between 2023 and 2029.
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