Introduction of the U.S. faucet Market Report

The faucet is a device used to deliver water from a plumbing system used in residential and commercial buildings.  It consists of several components such as handle, spout, lifts rod, mixing chamber, cartridge, aerator, and water inlets. When the handle is turned on, the valve gets opens which can control the water flow by adjusting any water or temperature condition. In the United States, kitchen faucet is mostly used for the residential and commercial buildings for delivering water.

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Market Dynamic

Key Drivers and Emerging Trends

The major driving factor for the growth of the United States faucet includes the rising residential sector at an exponential rate, with the surge in consumer spending on the household that has propelled the US faucet market growth. For instance, according to the Congressional Service Research Organization in 2020, United State’s spending on residential fixed investment was valued at USD 885 billion, which accounted for about 4.2% of its GDP.

Further, increasing disposable income of the people with the surge in adoption of modern technology-based faucets and rising spending on renovation, remodeling, and repairing of home utility areas such as a bathroom, kitchen are further expected to propel growth. For instance, according to Census Government Organization, residential construction spending valued at USD 725.2 Billion in March 2020 increased by 1.7% compared to February 2020 that have witnessed potential market growth. Further, increasing government spending for new infrastructure development projects for the public places, rising private sector investment have propelled the US faucet market growth.

Restraining Factor for the U.S. faucet Market

Fluctuations in raw material prices such as steel, aluminium and high cost of manufacturing newly designed faucets may hamper the US faucet market growth.

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The growing application of US faucet market is commercial sector due to increasing demand for the modular kitchen with strict government rules and regulations regarding the safety have propelled the market growth. Also, rising launching of new designs of the faucet for the modular kitchen in commercial hotels, restaurants which is expected to witness potential market growth. For instance, in 2021, Jaquar Group has launched a Tiaara faucet newly design product under its luxury brand Artize. It is made from solid brass body with ceramic cartridge that has high durability smoothness and regulates the water flow.

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Key Developments:

• • In 2020,Kohler launched new range of faucets Vive as the unique design for household and commercial spaces.
  • In 2018, Totoworld’s largest plumbing manufacturer launched new global faucet collection series for lavatory and bath based on recent trends in architecture and global design.

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Key questions answered in this research report:

• • At what pace is U.S. faucet market growing? What will be the growth trend in the future?
  • What are the key drivers and restraints in U.S. faucet market? What will be the impact of drivers and restraints in the future?
  • What are the various areas of U.S. faucet market and how they are poised to grow?
  • What companies are the major participants in this market and their business strategies, how does the competitive landscape look like?

Report Coverage	Details
Market Base Year	2020
Market Forecast Period	2021-2028
Market Revenues Currency	USD Million
Base Year & Forecast Units	Revenues (USD Million)
Regional Coverage	US
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