Global Sensor Faucet Market Analysis, Drivers, Restraints, Opportunities, Threats, Trends, Applications, and Growth Forecast to 2028
“Global Sensor Faucet Market” is a recent report generated by MarketResearch.biz, in which the forecast, study results, insights, data points, and information has been provided for a period of 10 years. The global sensor faucet market report has been segmented on the basis of sensor type, application, and region and the forecast period is 2019–2028.
A sensor faucet is a tap or dispenser unit with the hands-free convenience mechanism that enables users to gestures or presence to turn on the water. The user can place their hand or move into the proper proximity for the sensor to trigger it to open and dispense water. Sensor faucets are widely used in hotels, offices, kitchens, medical institutions, and a range of private and commercial locations and establishments places. Such faucets are most popularly used in public washrooms, owing to these being significantly ideal tools for saving water or reducing unwanted wastage, apart from offering a higher level in terms of hygiene as users are not required to place their hand in direct contact with the faucet.
Increasing upgradation of infrastructure in residential and non-residential sectors coupled with increasing demand for sensor faucets in smart buildings in developed and developing countries are major factors driving growth of the global sensor faucet market. Strict government policies and regulations regarding water conservation are projected to further rise installation of such faucet in public places. In addition, rapid urbanization across the globe and increasing spending power among the consumer are other factors supporting growth of the global market.
However, a high difference in the price of basic faucet and sensor faucet is a factor that may hamper growth of the global sensor faucet market.
Moreover, increasing demand for electronic sensor faucet is major factor expected to create high revenue opportunities for prominent players in the global market.
Among the type segments, the Infrared sensor faucets segment is projected to account for major share in terms of revenue in the global market. Infrared faucets offer a higher level of hygiene than normal faucets as human contact as totally no need of contact is required, and thus there are close to no chances of contamination, or contact with viruses, and bacteria. Infrared sensor faucets are ideal for installation at hospitals, workplaces, and private residences and with new, novel, and more advanced products being more easily available, demand for such convenient options is projected to continue to increase in parallel.
Among the application segments, the non-residential segment is expected to register high growth in terms of revenue during the forecast period. Increasing number of smart city and building projects globally is a major factor projected to fuel growth of the non-residential segment in the near future.
Currently, the market in North America maintains dominance in the global market, which is expected to continue over the forecast period. Presence of a large number of leading players in the region is a key factor driving market growth.
The Asia Pacific sensor faucet market is projected to register lucrative growth, with highest CAGR, as compared to other regions, in terms of revenue in the near future. This projected growth is attributed to lifestyle changes, rising disposable income, availability of more cost-efficient products. Increasing government initiatives towards infrastructure development and smart city projects, and growing development of smart buildings, and private constructions are key factors fueling growth of this market in countries in Asia Pacific region.
Global Sensor Faucet Market Segmentation:
Segmentation by Type:
- Infrared Sensor Faucet
- Touch Button Faucet
Segmentation by Application:
Segmentation by region:
- North America
- Asia Pacific
- Latin America
- Middle East & Africa
Particular Scope Region
- North America
- Rest of Europe
- Asia Pacific
- South Korea
- Rest of Asia Pacific
- Latin America
- Rest of Latin America
- Middle East and Africa
- South Africa
- Rest of Middle East and Africa
Actual Year 2020 Estimated Year 2021 Forecast Period 2021–2030 Revenue in US$
- LIXIL Group Corporation
- Masco Corporation
- TOTO Ltd.
- PRESTO Group
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