Faucet Market|Changing Consumer Preference And Lifestyle Giving Rise To Luxury Homes to Boost Growth in the l1 | Technavio
The faucet market size is expected to grow by $ 8.18 bn during 2021-2025, progressing at a CAGR of almost 9.02%. The report provides thorouh insights on the COVID-19 impact on the market and new business opportunities, if any, during the pandemic period. According to Technavio research experts, we expect the impact to be significant during the first quarter, which should gradually alleviate in subsequent quarters – with a limited impact on the full-year economic growth.
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Faucet Market Trends & Drivers
The faucet market research report has a detailed analysis on the key drivers, trends, and challenges, which will help vendors in making important business decisions and modifications to cater to the changing consumer demand. While it is essential to capitalize on key drivers such as changing consumer preference and lifestyle giving rise to luxury homes, it is also crucial to understand the challenges that will impede sales during the forecast period. Identifying and addressing market growth challenges will create additional opportunities for the existing and new market players.
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The faucet market has also explored key trends such as , which will have a significant positive impact on the market growth over the forecast period. A thorough study of the market trends will enable vendors to understand demographics effectively, which can be used to further product and service innovation.
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Faucet Market: Segmentation Analysis
This market research report segments the faucet market by Technology (Cartridge, Compression, Ceramic disc, and Ball), End-user (Residential and Non-residential), and Geography (North America, APAC, Europe, MEA, and South America).
The North America region led the faucet market in 2021, followed by APAC, Europe, MEA, and South America respectively. During the forecast period, the North America region is expected to register the highest incremental growth due to factors such as .
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A few of the key topics covered in the report include:
- Vendors covered
- Vendor classification
- Market positioning of vendors
- Competitive scenario