Report Overview

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.

India Thermostatic Faucet Market Trends & Forecast Report, 2029

India thermostatic faucet market size is expected to expand at a CAGR of 4.6% during the forecast period between 2023 and 2029. Major growth factors that will accelerate the demand for thermostatic faucets in India are an increase in consumer spending and a rise in the number of home improvement projects. On the other hand, the pandemic has caused supply chain disruptions that have decreased product demand. Strict social segregation laws and travel restrictions harm consumer spending and could increase for some time. Due to the pandemic, producers and developers have adopted a wide range of strategies to achieve steady growth during the expected period.

India Thermostatics Faucet Market - Overview

A thermostatic faucet is a tool or valve that helps with water delivery by regulating temperature. It functions by mixing hot and cold plumbing system water. The user is helped in maintaining a secure shower by the handle, spout, cartridge, lift rod, aerator, mixing chamber, and water inlets. These features also guarantee constant water temperature for a predetermined amount of time and lower the risk of scalding.

Growth Drivers

Spurring Demand for Thermostatic Faucets

Recent robust growth in residential construction is expected to have a positive impact on thermostatic faucet sales. The thermostatic faucets market is expanding due to rising housing unit demand and reliance on modern faucets and luxury plumbing systems. The rising popularity of smart thermostatic faucets in the commercial sector, such as hotels, hospitals, corporates, beauty & spa centers, and other commercial facilities, is also a major factor driving the thermostatic faucets market's growth. Increasing awareness about the use of thermostatic faucets due to their numerous benefits is encouraging market growth.

Restraints

Economic Downturn

Impact of the COVID-19 pandemic across India imposing lockdowns has slowed the growth of the thermostatic faucets market. Lack of raw material supply, a decline in construction activity, and the imposition of trade barriers may all pose significant challenges to the growth of the thermostatic faucets market. Manufacturers, on the other hand, collaborate with architects, designers, and contractors by providing them with innovative faucets and promoting their products through various online channels. This represents a growth opportunity for the thermostatic faucets market.

Impact of COVID-19 on India Thermostatics Faucet Market

All market segments have been impacted by the COVID-19 pandemic's global outbreak. The government has enacted stringent restrictions on keeping one's distance from others and traveling. This factor made it difficult to supply goods, which caused a slowdown in the thermostatic faucet market. The market for thermostatic faucets has benefited from the coronavirus pandemic and seen new, lucrative growth opportunities. There is not much of a loss in the market for thermostatic faucets as a result of this impact because it is significant in the first quarter but gradually diminishes in the following quarters.

As fewer construction and remodeling projects were being undertaken during the pandemic, the demand for thermostatic faucets decreased. The pandemic also had a significant impact on the thermostatic faucet's supply chain, which is what caused the decline in demand for the product. Government regulations that strictly prohibit social distancing caused a drop in consumer spending. In contrast, the economy is improving, and it is expected that the market for thermostatic faucets will experience profitable growth opportunities.

India Thermostatics Faucet Market

Segmental Coverage

India Thermostatics Faucet Market - By Type

India thermostatic faucet market is divided into Single Lever Mixer, Two Handle Mixer, and other segments. The single lever product category is expected to grow at the fastest rate between 2023 and 2029. The primary factor driving the segment is the rise in demand for single-level mixers in the residential market. Given that the majority of people are now working from home, the pandemic has increased demand for contemporary kitchen accessories. Another key element driving demand for single-lever mixers is the functionality they offer. The demand for thermostatic faucets is also driven by the adoption of sophisticated kitchen and bathroom accessories, which is made possible by the rising consumer disposable income levels that have paved the way for a luxurious lifestyle.

India Thermostatics Faucet Market - By Operation

On basis of the operation, India thermostatic faucet market is divided into Manual and Motion Sensing/Touch Activated segments. Manual faucets hold a higher market share and are expected to grow at a significant CAGR during the forecast period. The growth of the manual thermostatic faucets market is due to the construction of more apartments and commercial spaces, the remodeling of homes, and the replacement of old faucets. With the growing popularity of updated bathrooms and coordinated sanitary ware, fittings, and accessories, key players are providing a one-stop shop for all sanitary ware and fitting equipment.

India Thermostatics Faucet Market - By Installation

On basis of the installation, India thermostatic faucet market is divided into Deck Mount and Wall Mount segments.

India Thermostatics Faucet – By Material

On basis of the material, India thermostatic faucet market is divided into Chrome, Stainless Steel, Bronze, Nickel, and other segments. Bronze and nickel faucets account for the majority of market share and are expected to grow at a significant CAGR over the forecast period. Stainless steel is cheap, but it rusts easily. The majority of sinks are made of galvanized materials like this. However, due to their high cost and proclivity to rust, metal like bronze and nickel is giving way to other materials for faucets. Metal faucets are also difficult to sell because they are heavy and only come in a few shapes and sizes. It is the most popular material for producing high-quality faucets because it can be used in a variety of applications and looks nice.

India Thermostatics Faucet – By End User

On basis of the end user, India thermostatic faucet market is divided into Commercial and Residential. Commercial sector is expected to grow at a significant CAGR during the forecast period.  Hospitals, malls, airports, and hotels are all considered to be part of the commercial sector. Easy installation and maintenance are among the improvements in plumbing products introduced for hospitals, which are assisting the authorities in maintaining hygiene. The demand for contemporary faucets from consumers and an increase in the number of housing units are driving the residential market.

Competitive Landscape

India thermostatic faucet market is fiercely competitive. Major companies in the market include Grohe AG, Kohler Co., Moen, Inc., Cera Sanitaryware Ltd., Rocca Sanitario, Jaguar Group, Geberit AG, Reliance Worldwide Corporation Ltd., Masco Corp., LIXIL Corp., and Other Prominent Players. The key strategies used by these market leaders are new product launches, mergers & acquisitions, and alliances. To grow their market share, these companies are also focusing on investing in innovations, collaborations, and expansions.

Scope of the Report

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