Global Automatic Faucets Market Outlook
Automatic faucets possess the advantage of shutting off automatically after hand wash, resulting in reducing water wastage. Today, water wastage is a global concern, and a prime one for that matter. Fresh water resource is restricted and water abuse is a challenge that has gripped the world. Technology intervention in the form of sensor taps has been implemented across the globe, and mostly in the commercial sector.
Responsible inhabitants have either reduced the water wastage by turning off the tap or by shifting to automatic faucets; either way dropping the water wastage and even the usage level. In the residential sector, automatic faucets drop down the need for parents to keep a check on the faucets. The automatic shut off mechanism of automatic faucets reduces the risk of sink overflow, and water overrun.
Further, consumer inclination has moved towards smart home innovations including automatic faucets, electronic appliances, and among others. Automatic faucets are slowly acquiring notoriety in smart home portfolios. These items are furnished with different movement sensors, contact sensors, and temperature checks that permit customers to successfully monitor and control water utilization in the bathrooms and kitchen.
Moreover, automatic faucets offer touch-less technology through different sensors and internet connectivity, which adds more convenience and extravagance to the individual’s life. Automatic faucets are a critical innovation, which assists with saving water in homes as well as in business places. With ordinary fixtures, individuals squander some measure of water reluctantly during their use. These innovative items help to dodge these little water wastage. The above mentioned factors are expected to increase the global demand for automatic faucets in the foreseeable future.
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Market Dynamics:
What is driving the Sale of Automatic Faucets Globally?
Rising disposable income coupled with the growing construction activity across cities, including renovations in both commercial and residential buildings, are fueling demand for the automatic faucets market. Consumer spending over house renovation and interior designing has increased considerably. Evidently, people are shifting towards high-end architecture and luxurious fixtures inside the building. An emerging class of young consumers is spending on home decor. Salary hikes, and the rise in prosperity has increased the consumer spending on consumer items and bigger properties as well. Young Indians are spending heavily on home decor, making it one of the fastest growing segments in retail. With million of new houses being made annually, home decor is a growing segment which consequently leads to an increasing automatic faucets market.
How is Home Decor and Renovation Affecting the Global Automatic Faucets Market?
Renovations in commercial building sector is also on a high and results in the growth of global automatic faucets market. Co-working spaces are flourishing, and as these places focus more on the aesthetics and theme, the automatic faucets witnesses a spike. The institutional investors’ have a growing preference for companies that make investments in technologies which help to make the buildings future-ready.
How is Covid-19 expected to Drive Future Demand for Automatic Faucets?
Hygiene is very important as it can help control the spread of diseases and illnesses that are caused due to germs present on the hands. Following good hand hygiene practices helps to reduce the risk of food poisoning, flu, and other related infections. According to WHO (World Health Organization), germ transmissions are most commonly caused due to improper hand hygiene. It states that thousands of people around the world die every day due to infections and thus, hand hygiene becomes extremely important among the public.
The awareness regarding health hygiene among consumers has significantly increased during the last few months. Growing trend of using hand sanitizers and more importantly hand wash is significantly increasing in developing countries, with significant growth seen in India and China.
According to the National Collaborating Centre for Environmental Health, transmission in a public restroom is of great concern; for instance, physical distancing as washrooms tend to be tight spaces. Leading players in the industry are vying options in order to evolve the design of a restroom. The key areas of focus are, traffic planning, physical distancing in small spaces, increased sanitation space, minimizing contact surfaces and heightening the durability of materials. Some active-use solutions can include, sensor-operated items like flush valves, faucets, toilet seat covers, soap dispensers, hand dryers, paper towel dispensers and automatic tampon and napkin disposal. Thus, the coronavirus outbreak has rapidly increased the chances of growth in the demand for automatic faucets across the globe, over the forecast period.
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Will Counterfeiting continue to be a Challenge for the Global Automatic Faucets Market?
A major challenge hovering around the automatic faucets market is the issue of counterfeit products. Various manufacturers are facing issue in competing with cheap products and big-box stores. With the increasing demand of automatic faucets market, the outmaneuvering of the opposition is hiking too. The cheap products or counterfeit products are not certified by the FDA and NSF and also, do not comply with any of the safety requirements.
Additionally, cheaper touch-less taps that use inferior parts can be a menace to the consumers; however, various brands offer infrared faucets manufactured using the highest quality components along with a manufacturer’s warranty.
Market Segmentation:
On the basis of product type, the global automatic faucets market has been segmented as –
- Battery-operated
- Electric powered
On the basis of end-use, the global automatic faucets market has been segmented as –
- Residential
- Commercial
- Hotels
- Restaurants
- Hospitals
- Offices
- Others
On the basis of sales channel, the global automatic faucets market has been segmented as –
- Direct Sales
- Indirect Sales
- Hypermarkets/ Supermarkets
- Specialty Stores
- Multi-brand Stores
- Online retailing
- Convenience Stores
- Others
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Key Players:
The key players in the global automatic faucets market are Delta Faucet Company, CERA Sanitaryware Limited, Somany Ceramics, Colston Bath, Moen Incorporated, American Standard, Chicago Faucets, Brizo, Pfister Faucets, Rohl, Grohe AG, Kohler Co., LIXIL Group Corporation, Roca Sanitario S.A., Masco Corporation, and among others.
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