PUNE, India, January 25, 2016 /PRNewswire/ --
One major trend observed in faucet market is the innovations in new product(s), which have helped provide consumers with various novel offerings. Analysts forecast global faucet market to grow at a CAGR of 9% during the period 2016-2020.
Complete report on faucets market spread across 69 pages, analyzing 4 major companies and providing 41 data exhibits is now available at http://www.reportsnreports.com/reports/458721-global-faucets-market-2016-2020.html.
The global faucet market is compelled by many growth factors, one of which is the booming construction industry and growth in commercial construction. Additionally, hotel renovation projects coupled with rapid urbanization is expected to increase the demand for faucets during 2016-2020. The consumers increasing spending on the implementation of cost-effective home improvement solutions is expected to impel the prospects for growth in this market during the predicted period.
The faucet market research analysts have estimated the one-hand mixers segment to be the largest market segment during the forecast period. This segment currently dominates the market and is envisaged to retain its dominating hold over the market by 2019 due to the augmented investment in housing and hotel renovation projects. These factors fuel the prospects for growth in this segment during the predicted period and results in its impressive market share of more than 54% by 2020. Order a copy of Global Faucets Market 2016-2020 report @ http://www.reportsnreports.com/Purchase.aspx?name=458721.
The APAC region accounted for approximately 44% of the total market share during 2015 and is expected to grow at a CAGR of 9% between the period of 2016 and 2020. Factors like the rising urban population increased brand awareness and the increase in per capita annual disposable income of urban households are envisaged to bolster market growth during the forecast period.
The global faucet market is highly fragmented because of the presence of numerous small and large vendors. The vendors in this market compete in terms of enhancing the value added products and elevating the customer service levels, so as to gain a competitive edge over their rivals during the forecast period.
Leading key vendors in the global faucet market are Grohe Group, Kohler, Masco Group and TOTO. The other prominent vendors in the market are MAC Faucet, ROHL, Elkay Manufacturing Company, Danze, AGMECO, Wenzhou Times, Jaquar, Cera Sanitaryware, Vitra, and Danube Group. Further, the report states that compliance to standards and plumbing codes is one of the major challenges.
Another related report is Showerhead and Panel Market 2016-2020 that says rapid urbanization and growing awareness pertaining to energy and water conservation are the two major factors that help showerhead and panel market to grow CAGR of more than 4% by 2020. Analysts estimate eminent factors, such as the increasing energy and water efficiency of showerheads and panels, to drive market growth during the forecast period. A change in the consumers' preference towards energy efficiency is expected to force the vendors to innovate energy-efficient and eco-friendly shower systems. The high efficiency and re-circulation capability of these systems is expected to propel its adoption during 2016-2020. Browse complete report @ http://www.reportsnreports.com/reports/451983-showerhead-and-panel-market-2016-2020.html.
The leading key vendors in the global shower panels and heads market are Grohe, Hansgrohe, Jaquar, Kohler and VitrA.
Explore other new reports on Construction Industry Market at http://www.reportsnreports.com/tags/construction-industry-market-research.html.
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