Thermostatic Faucet Market Worth $11.59 Billion By 2028

Thermostatic Faucet Industry Overview

The global thermostatic faucet market size was valued at USD 7,676.42 million in 2020 and is expected to grow at a compound annual growth rate (CAGR) of 5.29% from 2021 to 2028.

The rise in consumer spending and an increasing number of home renovation projects are propelling the demand for thermostatic faucets. On the other hand, the pandemic has led to disruptions in the supply chain leading to reduced product demand. Strict social distancing measures and restrictions on travel have impacted consumer spending and are anticipated to continue for some time. The pandemic has resulted in developers and manufacturers adopting numerous strategies to acquire steady growth over the forecast period.

Gather more insights about the market drivers, restrains and growth of the Global Thermostatic Faucet Market

The growing residential sector coupled with demand for technologically advanced faucets and changing consumer preferences towards luxury products is a key factor fueling the demand for thermostatic faucets. Furthermore, the rise in usage of thermostatic faucets in hospitals is another factor fostering market growth.

In addition, a rise in the number of construction activities across the globe coupled with increased disposable income levels is also fueling the market growth. According to Houzz Survey, four out of five homeowners in the U.S. have hired professionals for home improvements in 2018 and about 36% hired a construction manager.

Browse through Grand View Research’s  Homecare & Decor Industry Research Reports.

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Key Companies profiled:

Some of the prominent players in the global 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.
• LIXIL Corp.

Order a free sample PDF of the Thermostatic Faucet Market Intelligence Study, published by Grand View Research.