Global Electric Taps Market to Reach $631.0 million by 2027: AMR

Allied Market Research
·4 min read

Assistance in water conservation and low cost of operation for instant heaters drive the growth of the electric taps market. Asia-Pacific held the highest market share in 2019, contributing to nearly two-fifths of the market, and will maintain its dominance in terms of revenue by 2027. Manufacturing activities underwent hindrances due to lockdown imposed by governments. Moreover, there has been shortage of supply of raw materials.

Portland, OR, Jan. 14, 2021 (GLOBE NEWSWIRE) -- According to the report published by Allied Market Research, the global electric taps market generated $310.0 million in 2019, and is projected to reach $631.0 million by 2027, witnessing a CAGR of 12.0% from 2020 to 2027. The report offers a detailed analysis of changing market dynamics, key investment pockets, top winning strategies, pricing strategies, key segments, and competitive scenario.

Assistance in water conservation and low cost of operation for instant heaters drive the growth of the electric taps market. However, high initial cost hinders the market growth. On the other hand, adoption of smart bathrooms and kitchens present new opportunities in the coming years.

Download Sample PDF (190 Pages with More Insight): https://www.alliedmarketresearch.com/request-sample/6577

Covid-19 Scenario:

  • Manufacturing activities underwent hindrances due to lockdown imposed by governments. Moreover, there has been shortage of supply of raw materials.

  • The demand for touchless taps grew significantly as an effective way to avoid touching the surface of taps and prevent possibility of cross-contamination.

  • As construction of activities came to sudden halt, the demand reduced to greater extent. However, the demand would grow as construction activities begin during the post-lockdown period.

The report provides detailed segmentation of the global electric taps market based on product, mounting type, end-use industry, and region.

Based on product, the touchless taps segment accounted for the largest market share in 2019, holding nearly 90% of the total market share, and will maintain its lion’s share during the forecast period. However, the instant heating tap segment is projected to manifest the highest CAGR of 12.8% from 2020 to 2027.

Get detailed COVID-19 impact analysis on the Electric Taps Market Request Here

Based on end-use industry, the commercial segment contributed to the highest share in 2019, accounting for more than two-thirds of the global electric taps market, and is expected to maintain its lead position during the forecast period. However, the residential segment is estimated to witness the fastest CAGR of 12.2% from 2020 to 2027.

By region, Asia-Pacific held the highest market share in 2019, contributing to nearly two-fifths of the market, and will maintain its dominance in terms of revenue by 2027. However, LAMEA is projected to portray the fastest CAGR of 13.6% during the forecast period.

Schedule a FREE Consultation Call with Our Analysts/Industry Experts to Find Solution for Your Business @ https://www.alliedmarketresearch.com/connect-to-analyst/6577

Leading players of the global electric taps market analyzed in the research include include Cera Sanitaryware Limited, Jaquar, Fortune Brands Home & Security, Inc. (Moen), LIXIL Group Corporation, Kohler Co., Taizhou Hengyida Plastic Plumbing Factory (Zhenhao), Masco Corporation (Delta Faucet Company), Wenzhou Bomei Sanitary Ware Co., Ltd., TOTO Ltd., and Xiaomi Corporation.

Avenue Library Subscription | Request for 14 days free trial of before buying: https://www.alliedmarketresearch.com/avenue/trial/starter

Get more information: https://www.alliedmarketresearch.com/library-access

Similar Reports:

Bathroom Taps Market - Global Opportunity Analysis and Industry Forecast, 2020-2027

Ceramic Sanitary Ware Market - Global Opportunity Analysis and Industry Forecast, 2020-2027

Bottle Capping Machines Market - Global Opportunity Analysis and Industry Forecast, 2019-2026

About Allied Market Research:

Allied Market Research (AMR) is a full-service market research and business-consulting wing of Allied Analytics LLP, based in Portland, Oregon. AMR provides global enterprises as well as medium and small businesses with unmatched quality of "Market Research Reports" and "Business Intelligence Solutions." AMR has a targeted view to provide business insights and consulting to assist its clients to make strategic business decisions and achieve sustainable growth in their respective market domain.

AMR introduces its online premium subscription-based library Avenue, designed specifically to offer cost-effective, one-stop solution for enterprises, investors, and universities. With Avenue, subscribers can avail an entire repository of reports on more than 2,000 niche industries and more than 12,000 company profiles. Moreover, users can get an online access to quantitative and qualitative data in PDF and Excel formats along with analyst support, customization, and updated versions of reports.

Contact us:

David Correa

5933 NE Win Sivers Drive

#205, Portland, OR 97220

United States

Toll Free (USA/Canada): +1-800-792-5285, +1-503-446-1141

International: +1-503-894-6022

UK: +44-845-528-1300

Hong Kong: +852-301-84916

India (Pune): +91-20-66346060

Fax: +1-855-550-5975

help@alliedmarketresearch.com

Web: https://www.alliedmarketresearch.com

Follow Us on | Facebook | Twitter | LinkedIn