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Region : | Latest Update: Aug, 2019 | Published Date: Jul, 2019 | Report ID: FBI100887| Status : Published
Global pull out & down kitchen faucet market which was valued at US$ 1,990.6 Mn in 2018 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 & 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 & down kitchen faucets is urging the key players to focus on developing faucets which can cover a larger working area and even cater specific requirements of the customers. Additionally, the introduction of hands free pull out & 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 pull out & down kitchen faucet market. For instance, in U.S., 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 & down kitchen faucets market growth.
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Residential applications to grow at the highest CAGR
The pull out & down kitchen faucets for residential applications are anticipated to hold a major share in the global pull out & down kitchen faucet 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 9.2 Bn by 2050 from 7.6 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 5.9% during the forecast period 2019 – 2026. Additionally, as per the classification of pull out & down kitchen faucet market by material, stainless steel faucets have the highest pull out & 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 pull out & down kitchen faucet 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 & 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 & 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 & 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 pull out and down kitchen faucet 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.
Asia Pacific is estimated to witness high pull out & down kitchen faucet market growth owing to the increasing population resulting in 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 & down kitchen faucets market share and revenue owing to people’s interest in modern technologies and adopting a modern lifestyle.
North America Pull Out and Down Kitchen Faucet Market, 2018
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The key market drivers for pull out & down kitchen faucets include construction of new homes globally owing to rising population coupled by 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 & down kitchen faucets during the forecast period of 2019-2026.
The report covers qualitative and quantitative insights on the pull out & down kitchen faucet market and detailed analysis of market size and growth rate for all possible segments in the market. The pull out & down kitchen faucet market has been segmented by type, flow rate, application, distribution channel, material, install type, functionality and geography. By type, the pull out & 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 1.5 GPM, 1.7 / 1.75 / 1.8 GPM, and 2.2 / 2.5 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 pull out & down kitchen faucet 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 pull out & down kitchen faucet 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 elaborative analysis of the market dynamics and competitive landscape. Key insights provided in the report on pull out & 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
· Pull Out
· Pull Down
By Flow Rate
· 1.7 / 1.75 / 1.8
· 2.2 / 2.5
· Commercial / Industrial
By Distribution Channel
· Stainless Steel
By Install Type
· Wall Mounted
· Deck Mounted
· Manually Operated
o Single Handle
o Double Handle
· North America (USA and Canada)
· Europe (UK, Germany, France, Italy, Spain, and Rest of Europe)
· Asia Pacific (Japan, China, India, Australia, Southeast Asia and Rest of Asia Pacific)
· Latin America (Brazil, Mexico and Rest of Latin America)
· Middle East & Africa (South Africa, GCC and Rest of Middle East & Africa)