Thermostatic Faucet Market Report 2024

This Thermostatic Faucet market report covers market characteristics, size and growth, segmentation, regional and country breakdowns, competitive landscape, market shares, trends and strategies for this market. It traces the market’s historic and forecast market growth by geography.

The thermostatic faucet market size has grown strongly in recent years. It will grow from $10.07 billion in 2023 to $11.08 billion in 2024 at a compound annual growth rate (CAGR) of 10.1%. The growth during the historical period can be attributed to the increasing demand for energy-efficient home appliances, a rise in the number of green building projects, heightened concerns over scalding accidents, growth in investments in the hospitality sector, and an expansion in the construction of luxury hotels.

The thermostatic faucet market size is expected to see strong growth in the next few years. It will grow to $16.39 billion in 2028 at a compound annual growth rate (CAGR) of 10.3%. The anticipated growth during the forecast period can be attributed to increasing urbanization, a rise in construction activities, a growing emphasis on hygiene and touchless solutions, rising disposable incomes, and heightened awareness of water conservation. Key trends expected in this period include technological advancements, the adoption of smart home technologies, the implementation of touchless technology, innovations in water-saving technologies, and the integration of Internet of Things (IoT) technology.

The increasing number of residential houses is projected to drive the growth of the thermostatic faucet market in the future. Residential houses include various types of living spaces such as single-family homes, apartments, and condominiums. This growth is primarily fueled by factors such as population growth, urbanization, and supportive government policies. Thermostatic faucets play a significant role in residential buildings by providing enhanced convenience and safety through the maintenance of consistent water temperatures. This feature helps to prevent sudden temperature changes and reduces the risk of burns, ensuring a comfortable and dependable user experience. As a result, thermostatic faucets are becoming essential in modern plumbing systems where safety and efficiency are of utmost importance. For example, in March 2024, the Australian Bureau of Statistics, a government agency in Australia, reported that there were 30,992 private new house dwellings, marking a 3.7% increase since December and a 14.6% rise compared to March 2023. Consequently, the increasing number of residential houses is driving the growth of the thermostatic faucet market.

Leading companies in the thermostatic faucet sector are focused on developing innovative technologies, such as sustainable touchless faucets, aimed at reducing water waste. These sustainable touchless faucets enhance user convenience and hygiene, promoting water conservation and energy efficiency, which reflects the industry's dedication to eco-friendly practices and cutting-edge solutions. For instance, in September 2024, Chicago Faucet, a US-based manufacturer of commercial plumbing faucets, launched the EQ Arc, a sustainable touchless faucet that adds to its EQ Series of hands-free faucets. The EQ Arc features a sleek mini-arc spout design that combines reliable performance with modern aesthetics, making it suitable for commercial restroom environments. It offers versatile power options, including a self-sustaining water turbine and a long-lasting battery, while optimizing water conservation with a flow rate of 0.5 gallons per minute (gpm). Additionally, this faucet includes an optional integrated thermostatic mixing valve for improved temperature control and reduced potential leak points.

In July 2024, Roca Group, a Spain-based manufacturer of bathroom products, acquired Idral S.p.a for an undisclosed amount. This acquisition enables Roca Group to strengthen its faucets division and enhance its market position in public and semi-public bathroom spaces throughout Europe. Idral S.p.a is an Italy-based manufacturer specializing in sanitary solutions, including taps, hygienic fittings, and accessories such as thermostatic faucets.

Major companies operating in the thermostatic faucet market are Ferguson PLC, LIXIL Corporation, Masco Corporation, Kohler Co. Inc., Rocca Sanitario, Sinosteel Corporation, Grohe AG, Moen Inc., Delta Faucet Company, Hindware Home Innovation Limited, Cera Sanitaryware Ltd., Rohl LLC, Speakman Company, Pfister, Paini Spa Rubinetterie, Jaguar Group, Alton Bath Decor Private Limited, Colston Bath, Sento, Neenan Company Showroom.

North America was the largest region in the thermostatic faucet market in 2023. Asia-Pacific is expected to be the fastest-growing region in the forecast period. The regions covered in the thermostatic faucet market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa.

The countries covered in the thermostatic faucet market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA, Canada, Italy, Spain.

A thermostatic faucet is designed to automatically maintain a set water temperature by blending hot and cold water. It utilizes a thermostatic valve to regulate the water temperature, ensuring consistency despite fluctuations in water pressure or temperature from the supply. These faucets are commonly found in showers, baths, and occasionally sinks, offering enhanced comfort and safety.

The primary product types of thermostatic faucets include single lever, two-handle, and other variations. A single lever thermostatic faucet enables users to control both the water temperature and flow with a single handle. The distribution channels for these faucets are categorized into online and offline sales. The end users are divided into commercial and residential segments.

The thermostatic faucet market research report is one of a series of new reports that provides thermostatic faucet market statistics, including thermostatic faucet industry global market size, regional shares, competitors with a thermostatic faucet market share, detailed thermostatic faucet market segments, market trends and opportunities, and any further data you may need to thrive in the thermostatic faucet industry. This thermostatic faucet market research report delivers a complete perspective of everything you need, with an in-depth analysis of the current and future scenario of the industry.

The thermostatic faucet market consists of sales of thermostatic sink faucets, thermostatic shower faucets, and thermostatic sink faucets. Values in this market are ‘factory gate’ values, that is the value of goods sold by the manufacturers or creators of the goods, whether to other entities (including downstream manufacturers, wholesalers, distributors and retailers) or directly to end customers. The value of goods in this market includes related services sold by the creators of the goods.

The market value is defined as the revenues that enterprises gain from the sale of goods and/or services within the specified market and geography through sales, grants, or donations in terms of the currency (in USD, unless otherwise specified).

The revenues for a specified geography are consumption values that are revenues generated by organizations in the specified geography within the market, irrespective of where they are produced. It does not include revenues from resales along the supply chain, either further along the supply chain or as part of other products.

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