Electric Taps Market 2020 Analysis, Trends, Share, Segmentation, Industry Size 2027

 The global electric taps market size accounted for $310.0 million in 2019, and is expected to reach $631.0 million by 2027, registering a CAGR of 12.0% from 2020 to 2027. In 2019, Asia-Pacific dominated the global electric taps market, accounting for around 37.5% share of the global electric taps industry, followed by LAMEA

Electric taps refer to electrically operated taps that either automatically turn ON and OFF using a sensor to detect the movement in its range or instantly heat the water flowing through it. The touchless taps have a sensor installed that senses the movement of hands under the nozzle and sends signals to the operating system, which than turns ON the flow of the water. When the hands are withdrawn a similar signal is sent to stop the flow of the water.

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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.

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.

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

The report analyzes the global electric taps market by product, end-use industry, mounting type and region. On the basis of product, the market is divided into touchless taps and instant heating taps. Depending on end-use industry, it is classified into residential and commercial. By mounting type, it is segregated into wall-mounted and deck-mounted.

Region wise, the electric taps market analysis is conducted across North America (the U.S., Canada, and Mexico), Europe (Germany, France, the UK, Italy, and rest of Europe), Asia-Pacific (China, Japan, India, South Korea, and rest of Asia-Pacific), and LAMEA (Latin America, the Middle East, and Africa).

Key Findings Of The Study

  • By product, the touchless taps segment was the highest revenue contributor in 2019.
  • By end-use industry, the commercial segment generated the highest revenue in 2019.
  • By mounting type, the deck-mounted segment led the market in 2019.
  • Region wise, Asia-Pacific garnered the largest electric taps market share in 2019.

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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.

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