What Is the Projected Growth of the Electric Taps Market?
The Electric Taps Market Growth has been experiencing substantial momentum in recent years. The global electric taps market size was USD 396.9 million in 2020 and is projected to grow from USD 429.7 million in 2021 to USD 877.2 million in 2028 at a CAGR of 10.7% during the 2021-2028 period. The global impact of COVID-19 has been unprecedented and staggering, with electric taps witnessing a positive impact on demand across all regions amid the pandemic. Based on our analysis, the global market exhibited a lower growth of 6.9% in 2020 compared to the average year-on-year growth during 2017-2019. The rise in CAGR is attributable to this market’s demand and growth, returning to pre-pandemic levels once the pandemic is over. This report explores key market trends, major growth drivers, and detailed market segmentation by [key segment categories].
The electric taps market is gaining traction due to increasing demand for touchless, energy-efficient, and water-saving solutions in residential and commercial spaces. IoT-enabled smart taps with temperature control and automatic shut-off features are becoming industry standards. As sustainable water management gains importance, the market is expected to witness strong growth.
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Which Companies Are Leading in the Electric Taps Market?
Major companies operating in the semiconductor machinery market include LIXIL Corporation (Tokyo, Japan), Masco Corporation (Michigan, U.S.), Wenzhou Bomei Sanitary Ware Co., Ltd (Zhejiang, China), Jaquar (Gurgaon, India), Kohler Co. (Wisconsin, U.S.), Taizhou Hengyida Plastic Plumbing Factory (Zhejiang, China), Toto Ltd. (Fukuoka, Japan), Euronics Industries Pvt Ltd (Gurgaon, India), Havells India Ltd. (Uttar Pradesh, India), Fortune Brands Home & Security, Inc. (Illinois, U.S.)
Key highlights of the Report:
• Market Performance
• Market Outlook
• COVID-19 Impact on the Market
• Porter's Five Forces Analysis
• Historical, Current and Future Market Trends
• Market Drivers and Success Factors
• SWOT Analysis
• Structure of the Market
• Value Chain Analysis
• Comprehensive Mapping of the Competitive Landscape
What comprehensive insights does the research report on Electric Taps provide, and which regions are analyzed in detail?
The research report on Electric Taps provides a comprehensive assessment of the market, offering strategic insights into future trends, growth drivers, supplier and demand landscapes, year-over-year (Y-o-Y) growth, compound annual growth rate (CAGR), and pricing dynamics. It also incorporates key business analytical frameworks such as Porter’s Five Forces, PESTLE Analysis, Value Chain Analysis, 4 Ps (Product, Price, Place, Promotion), Market Attractiveness Index, BPS (Basis Point Share) Analysis, and Ecosystem Mapping. Additionally, the report provides an in-depth regional analysis across major geographical markets, including:
- North America (U.S., Canada, Mexico)
- Europe (Germany, U.K., France, Italy, Spain, Rest of Europe)
- Asia Pacific (China, India, Japan, South Korea, Australia, Rest of Asia Pacific)
- South America (Brazil, Argentina, Rest of South America)
- Middle East & Africa (UAE, Saudi Arabia, South Africa, Rest of MEA)
- These insights empower stakeholders to understand market dynamics, identify growth opportunities, and make strategic decisions across regions.
What Are the Recent Industry Developments in the Electric Taps Market?
- Jaguar introduced wall and deck mounted ‘Blush Sensor Faucets,’ a smart design that integrates quick-response and high-accuracy sensors right into the spout. It is specifically suitable for commercial bathroom spaces.
- Kohler Co. launched its 1st ‘Tech Centre’ in Gujarat, India. The tech center displays industry-leading product designs. The company has invested nearly USD 200.0 million in India up till now.
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