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The global pull out and down kitchen faucet market size stood at US$ 1,990.6 Mn in 2018 and is projected to reach US$ 2,954.3 Mn by 2026, exhibiting a CAGR of 5.1% during the forecast period (2019–2026)
All the models of pull out and down kitchen faucets contain a spray hose fitted precisely inside the spout when not in use These hoses are extendable and can be pulled out or pulled down to be used as a manual sprayer according to the customer requirements
The consumer’s rising demand for modern pull out and down kitchen faucets is urging the key players to focus on developing faucets that can cover a larger working area and even cater to specific requirements of the customers Additionally, the introduction of hands-free pull out and down kitchen faucets, including advanced sensor technologies, are also expected to be adopted majorly by the end-users
The emergence of a large number of smart homes globally is also anticipated to create a huge demand for the market For instance, in the US, more than 30 million households are projected to incorporate smart homes technology in the forecast period 2018-2025, which would directly contribute to the pull-out and down kitchen faucets market growth
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"Residential applications to grow at the highest CAGR"
The pull out and down kitchen faucets for residential applications are anticipated to hold a major share in the global market in 2017 It has around 60% market share, followed by faucets for commercial applications According to the UN, the global population is set to reach over 92 Bn by 2050 from 76 Bn in 2017, which would require around 500 Mn new houses This growth in housing would propel the pull out & down kitchen faucet market growth during the forecast period owing to multiple benefits offered by it
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It is expected that the offline distribution channel of pull out & down kitchen faucet will have a higher market share than online in 2019, however online distribution channel would grow with a higher CAGR of around 59% during the forecast period 2019 – 2026 Additionally, as per the classification of market by material, stainless steel faucets have the highest pull out and down kitchen faucet market share among the zinc, brass, and copper kitchen faucets and would also grow at the highest CAGR during the forecast period
"Delta Faucet, Kohler and American Standard Hold a Dominant Market Share in Terms Of Revenue"
"Key industry participants of the global market include Moen Inc, Kohler Co, Hansgrohe SE, Danze Inc, Kraus USA, Grohe Ltd, Wasserrhythm, WEWE, Pfister, American Standard Brands, etc with many other regional players as well"
Prominent market players operating in the pull out and down kitchen faucet are focusing on new technologies and designs to gain substantial market share For instance, Moen, Delta, Kohler, etc have launched new touchless and automatic faucets for the convenience of the customers and to save water as well The key companies of pull out & down kitchen faucet market are also offering faucets with hand wave technology, clap technology, and Wi-Fi technologies
Vendors are also offering pull out and down kitchen faucets at restricted flow rates in an effort to save water and also create awareness for saving water Most of the new pull out and down kitchen faucets do not have a high flow rate owing to government regulations and urge consumption of less water among people
"The emergence of smart homes and growing number of houses enables Asia Pacific to exhibit the highest CAGR"
The North and Latin America together hold around 45% share in the global Pull Out & down Faucet market However, the market in Asia Pacific is expected to exhibit the highest CAGR in the during the forecast period 2019 – 2026 North America is anticipated to dominate the pull out and down kitchen faucets market share throughout the forecast period owing to the early adoption of modern kitchens
North America Pull Out and Down Kitchen Faucet Market, 2018
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Asia Pacific is estimated to witness high pull out & down kitchen faucet market growth owing to the increasing population resulting in the construction of new homes The emergence of smart homes and smart kitchen backed by the rising income of the people in the region is also expected to boost the pull out and down kitchen faucet market growth during the forecast period Europe holds the second spot in terms of pull out and down kitchen faucets market share and revenue owing to people’s interest in modern technologies and adopting a modern lifestyle
The key market drivers for pull out and down kitchen faucets include the construction of new homes globally owing to rising population coupled with the adoption of smart homes in developed economies The emergence of smart and modern kitchens in developing economies would also create a huge demand for pull out and down kitchen faucets during the forecast period of 2019-2026
The report covers qualitative and quantitative insights on the market and detailed analysis of market size and growth rate for all possible segments in the market The market has been segmented by type, flow rate, application, distribution channel, material, install type, functionality, and geography By type, the pull out and down kitchen faucets market has been categorized into pull out and pull down faucets By flow rate, the global pull out & down faucet market has been segmented into 15 GPM, 17 / 175 / 18 GPM, and 22 / 25 GPM By application, the market for pull out & down kitchen faucet has been segmented as commercial/industrial and residential By distribution channel, the market for pull out & down kitchen faucet is divided into online and offline By material, the market for pull out & down kitchen faucet has been segmented into zinc, stainless steel, brass, and copper By install type, the global market is divided into wall and deck mounted By functionality, the market for pull out & down kitchen faucet is segmented into manually operated, touchless and hybrid Geographically, the global market is segmented precisely into five major regions, which are North America, Europe, Asia Pacific, Latin America, and Middle East & Africa The regions have been further categorized into countries
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Along with this, the report on pull out & down kitchen faucet market provides an elaborative analysis of the market dynamics and competitive landscape Key insights provided in the report on pull out and down kitchen faucets are the price trend analysis, recent industry developments such as mergers & acquisitions, the regulatory scenario in key countries, analysis of technology, SWOT analysis, and key industry trends
By Flow Rate
By Distribution Channel
By Install Type
o Single Handle
o Double Handle
Fortune Business Insights says that the value of the global pull out and pull down kitchen faucets market was USD 1,990.6 Mn in 2018
The market is projected to reach USD 2,954.3 Mn by 2026.
The market will grow at a rate of 5.1% CAGR. The demand of smart kitchen and development in the standard of living of the individuals is harnessing the growth of the market.
North America is expected to hold the largest market share in the global pull out and pull down kitchen and is anticipated to account USD 731.5 Mn in 2018.
Among the by type segment, pull down faucet is expected to be the growing segment in global pull out and pull down kitchen faucets market during the forecast period.
The emergence of a large number of smart homes globally is also anticipated to create a huge demand for pull out & down faucet market
Delta Faucet, Kohler and American Standard are the top players in pull out and pull down kitchen faucets market.
North America is anticipated to hold the largest market share, owing to the early adoption of modern kitchens.
Prominent market players are focusing on new technologies and designs to gain substantial market share. Vendors are also offering Pull Out & down Faucet at restricted flow rates in an effort to save water and also create awareness for saving water
Adoption of sensor technology in the faucets industry is the current trend for the global pull out and pull down kitchen faucets market.
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