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Sensor faucet is also known as automatic faucet, that is equipped with proximity sensor and an automatic mechanism that allows the flow of water throught the valve to the faucet under the user’s hands in a close proximity. In the current market scenario, as the rising pandemic COVID-19 is becoming a major threat to the human lives, products such as sensor faucet helps in minimizing the spread of the disease by limiting the touch to the faucet. Owing to this, sensor faucets are being highly recommended across several commercial sectors as well as the residential sector, in order to maintain social distancing and personal hygiene. Infrared sensitive sensors are on highest demand across the faucet industry, as they offer high quality sensing effects and are energy-efficient.
Rising consumer spending across Asian, Latin American, and African countries is expected to uplift the requirement of aesthetic and automated faucets across the residential and commercial sectors. Customers often tend towards purchasing products that are beneficiary in the difficult times such as the pandemic. COVID-19 pandemic has led to implementation of automated products that helps in avoiding the touch and helps in maintaining the social distancing, henceforth surges the demand for sensor faucet across the global market over the forecast period. Sensors used in faucets are of various types namely, infrared sensors, motion sensor, touch sensitive, etc. These sensors are highly applicable into the faucets as they are energy efficient and prvoide automated facilities for better end-user experience. Furthermore, rising smart buildings concept across the developed and developing economies is projected to drive the demand for sensor faucets throughout the global market in the coming years. Sensors are well known to be costlier than any other semiconductor component, becomeing a tedious task for the customers to purchase, install and maintain the efficiency of the sensors, thus limits the market growth over the forecast period.
Key Market Driver -
• Rising consumer spending across developing countries • Adoption of energy efficient sensor faucets • Increasing smart buildings concept
Key Market Restraint -
• High purchasing, installing and maintenance cost
Major market players in the global sensor faucet market are opting varied business strategies such as mergers, and acquisition in order to expand their business via global supply chain network. Manufacturers are focusing over advancing the sensor technologies for efficient sensing, while maintaining the electricity flow. Infrared sensors are highly recommended product by the key market players, as it offers accurate end-user experience with high energy efficiency.
Some of the key competitors in the sensor faucet market include Lixil Group, Masco Corporation, Kohler, Moen Incorporated, Grohe, Fortune Brands, TOTO, Pfister, Geberit, Oras, Sloan Valve, GESSI, PRESTO Group, Jaquar, Delta Faucet, Inc., and Roca Sanitario, S.A. and others.
Asia Pacific is projected to dominate the market with highest CAGR over the forecast period, owing to rising government initiatives for smart cities across the developing economies. For instance, in the year 2015, the government of India launched a program named “100 Smart Cities Mission”, under which the government encouraged the regional or state level authorities to increase the construction of smart buildings and other smart facilities across the country. North America is anticipated to witness seconda largest CAGR in the coming years owing to rising demand for aesthetic, connected and automated residential and commercial spaces throughout the region. Emergence of COVID-19 pandemic has fortified the necessity of manitaining personal hygiene; this, indirectly surges the demand for sensor faucet in several sectors.
Europe is expected to witness progressive market growth, with the changing consumers lifestyle that has led to adopt the solutions that are more convenient to use and offer hygienic solutions. Also, Europe is observing rising smart building construction with the aim to simplify the lifestyle of citizens across the region. The Middle East & Africa and Latin America regions are projected to observe stable market growth owing to initiation of several smart , and modular building projects across Brazil, Turkey, etc. With COVID-19 severely impacting the health of people from these developing countries, people are opting for automated solutions to minimize the spreading of the disease, thus expected to drive the demand for sensor faucet across both the regions over the forecast period.
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