Sensor taps are the taps that are operated automatically, it starts or stops the flow of water with the help of a sensor. The rising need for efficient and sustainable water management solutions is the major factor boosting the growth of the sensor taps market. Further, the rapid rate of urbanization is encouraging the development of smart and green buildings coupled with the growing implementation of smart bathrooms in public infrastructure and buildings to counter the energy and water crisis are also triggering the growth of the as sensor taps market.
MARKET SCOPE
The "Global Sensor Taps Market Analysis to 2028" is a specialized and in-depth study with a special focus on the global market trend analysis. The report aims to provide an overview of the sensor taps market with detailed market segmentation by type, end-user, and geography. The report provides key statistics on the market status of the leading sensor taps market players and offers key trends and opportunities in the market.
MARKET SEGMENTATION
- Based on type, the global sensor taps market is segmented into wall mounted and desk mounted.
- On the basis of end-user, the market is segmented into residential and commercial.
MARKET DYNAMICS
Drivers:
- Sensor taps reduce the chances of water leakage and water misuse or overuse as it operated on the sensor. Increasing use of advanced technologies and rising adoption of a smart bathroom is significantly booming the sensor taps market growth.
- Growing infrastructure investments in residential and commercial sectors coupled with the rise in awareness in water conservation as well as long term energy-efficient devices are expected to fuel the growth of sensor taps market.
Restraints:
- High costs of these sensor taps may hamper the growth of the market.
REGIONAL FRAMEWORK
The report provides a detailed overview of the industry including both qualitative and quantitative information. It provides an overview and forecast of the global market based on various segments. It also provides market size and forecast estimates from the year 2019 to 2028 with respect to five major regions, namely; North America, Europe, Asia-Pacific (APAC), the Middle East and Africa (MEA), and South America. The sensor taps market by each region is later sub-segmented by respective countries and segments. The report covers the analysis and forecast of 18 countries globally along with the current trend and opportunities prevailing in the region.
The report analyzes factors affecting the market from both demand and supply side and further evaluates market dynamics affecting the market during the forecast period i.e., drivers, restraints, opportunities, and future trend. The report also provides exhaustive PEST analysis for all five regions namely; North America, Europe, APAC, MEA, and South America after evaluating political, economic, social and technological factors affecting the sensor taps market in these regions.
IMPACT OF COVID-19 ON SENSOR TAPS MARKET
COVID-19 first began in Wuhan (China) during December 2019 and since then it has spread at a fast pace across the globe. The US, India, Brazil, Russia, France, the UK, Turkey, Italy, and Spain are some of the worst affected countries in terms confirmed cases and reported deaths. The COVID-19 has been affecting economies and industries in various countries due to lockdowns, travel bans, and business shutdowns. Shutdown of various plants and factories has affected the global supply chains and negatively impacted the manufacturing, delivery schedules, and sales of products in global market. Few companies have already announced possible delays in product deliveries and slump in future sales of their products. In addition to this, the global travel bans imposed by countries in Europe, Asia-Pacific, and North America are affecting the business collaborations and partnerships opportunities.
MARKET PLAYERS
The report covers key developments in the sensor taps market as organic and inorganic growth strategies. Various companies are focusing on organic growth strategies such as product launches, product approvals and others such as patents and events. Inorganic growth strategies activities witnessed in the market were acquisitions, and partnership & collaborations. These activities have paved way for the expansion of business and customer base of market players. The market players from sensor taps market are anticipated to lucrative growth opportunities in the future with the rising demand in the global market.
The report also includes the profiles of key companies along with their SWOT analysis and market strategies in the sensor taps market. In addition, the report focuses on leading industry players with information such as company profiles, components, and services offered, financial information of the last 3 years, the key development in the past five years.
- Geberit AG
- Grohe AG
- Jomoo Kitchen and Bath Co., Ltd
- Kohler Co.
- Lixil Group Corporation
- MAC Faucets, LLC
- Masco Corporation
- Moen Incorporated
- Roca Sanitario, S.A.
- Toto Ltd.