India Faucet Market, Growth trend, Covid-19 Impact and forecast(2022-27).

India Faucet market is segmented by product type (Ball, Disc, Cartridge and Compression), technology(Manual, Automatic), Material used (stainless steel, chrome, Bronze plastic, others), application (Bathroom, Kitchen, others) and by end use(residential, commercial, Industrial).

Market Snapshot

CAGR
Study Period: 2018-2027
Base Year: 2021
CAGR: >7.4 %

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Market Overview

The growth in the real estate industry, rise in disposable income, increasing urbanization, changes in consumer preferences, way of living, and exposure to the international brand have boosted the faucet industry. India has a class of people with low to high wages for which many luxuries and economic faucets exist for manufacturing firms. Seven popular facets brands manufacturer in India are Kohler, waterman, Jaquar, Cavier, Hind ware, Cera, and Roca. In 2021 the global faucet market was seen at USD 19.3 billion in 2021 with an expected annual growth rate of 7.4 percent from 2022-30. For faucets, the commercial segment leads the market, and in distributional channels, the offline segment dominates.

Covid 19 had a major impact on the real estate industry because of restrictions on all construction and development activities, resulting in a negative impact on which faucet market. Government policies related to infrastructure development were also halted, and an increase in the price of the metal market resulted in an increase in price as well as a decrease in sales of faucets.

With covid restriction being hauled down and construction activities being resumed, the kitchen segment is anticipated to expand at the fastest CAGR of 7.7%, and the household segment is expected to witness the fastest CAGR of 7.5%, which will create a market for a faucet having a positive impact on the industry.

Scope of the Report

This report is focused on finding opportunities in the Indian faucet market, considering all market factors and changes that occurred with the advent of COVID-19 related to lockdowns and its effect on the pricing of the faucet. Supply chain issues halted manufacturing and increased the faucet market price level. As more household and commercial development projects take place in India, demand for faucets will increase. India, with its prospect of being a developed nation, is attracting large investments with its cheap labor and increasing income through construction activities, which has a positive effect on the faucet market.

India's Faucet market is segmented by product type (Ball, Disc, Cartridge, and Compression), technology(Manual, Automatic), Material used (stainless steel, chrome, Bronze plastic, others), application (Bathroom, Kitchen, others), and by end use(residential, commercial, Industrial).

By Product Type
Ball
Disc
Cartridge
Compression
By Technology
Manual
Automated
By Material Used
Stainless Steel
Chrome
Bronze Plastic
Others.
By Application
Bathroom
Kitchen
Others.
By End User
Residential
Commercial
Industrial

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Key Market Trends

Metal price change, increase in faucet demand leading to fluctuation in Household, Commercial faucet availability.

The price of high-grade copper in LME (London Metal Exchange) continuously increased with 82.2 cents per pound in 2001 and 420 cents per pound in 2021. Zinc with the price of USD 2,161 per metric tons in 2014 increased to USD 2,950 per metric ton in 2021. Worldwide, all the markets are connected, and changes in US prices will automatically affect the prices in the Indian faucet market because of the increase in raw materials price. Several domestic steel mills(major faucet component) that produce flat-rolled products shut down, reducing demand during covid. After the relaxation of restrictions, demand is picking up. It is taking a toll on steel mills, causing disequilibrium in demand supply and increasing prices for metal and faucet markets.

The continuous faucet market demand owing to new construction of residential apartments, development in commercial spaces, renovation of houses, and replacement of old faucets are some of the key boosting faucets market.

CAGR

Favorable government policies affecting faucet market by increasing investment opportunity.

In 2019 GOI rules out the “Har Ghar Nal Se Jal” policy which aims at providing piped water for rural homes in five years, for which in the budget of 2022-23, an amount of Rs 60,000cr is provided. These all facts signify an increasing opportunity for the faucet market in India. Under Pradhan Mantri Awas Yojnaa(2015), in the Union budget(2021-22) government allocated a fund worth (US$ 1.07 billion) creating demand for the faucet in the market.

On the other side of its, India is a market where the opportunity for faucets still needs to be explored, and government policies are in support of providing water to every household with policies such as “Jal Shakti, Jal Jeevan, Har Ghar Nal Se Jal” and “Pradhan Mantri Awas Yojana” in every budget large fund is released for these policies. Covid-19 has made people realize the importance of creating an environment for improving facilities at home, with modern bathrooms and modular kitchens requiring more faucets. As the income level increases for Indians, more expenditure will be made on building the homes and creating an open field for the faucet market.

favourable schemes

Competitive Landscape

The factors driving the growth of the manual segment in the market are rising new construction of residential apartments, development in commercial spaces, renovation of houses, and replacement of old faucets. Key players profiled in the report include LIXIL Group Corporation, Sloan Valve Company, MASCO corporation, Panini (UK) Ltd, Fortune Brands Home & Security, Pfister, Lota Group, Toto, Hindalco, and HUL in the global and Indian faucet Market.

In 2021 India's real estate market stood at US$ 200 billion and was expected to reach $1 trillion in market size by 2030, giving faucet market makers a positive insight to increase their investment. During FY 2010- FY2015, the real state sector in India grew at a rate of 10%, and during FY2015- FY2020, it is growing at a rate of 11.2%. Per the ET Household finance summit, about three houses are built per 1000 people per year rather than the required rate of 5 households. As we know household construction market is linked to the faucet market. As a result, competition among firms would increase to acquire the remaining market gap in the faucets.

Recent Development

  • On December 22, local time, Masco Group (Masco) of Delta Faucet (Delta Faucet) announced that it had signed a definitive agreement with its parent company Masco to acquire the assets of Kraus, an online bathroom company focused on providing modern, high-quality sinks, faucets, and related products.
  • On March 31, 2022, Somani home innovation ltd changed its name to Hindware Home Innovation Limited, which acquired the manufacturing of Building Products business in a slump sale, and this transaction was consummated effectively. Hindware Home Innovation Limited is a leader in Building Products and one of the fastest-growing players in the Indian Consumer Appliances segment.
  • In January 2022, Jindal Pipes made a counter agreement for an Indian Seamless metal tube against Kirloskar ferrous industry of Rs 477 crore. Jindal Pipes had expressed interest in acquiring a majority stake in ISMT, which will not only be better than KIFL but also be in the best interest of shareholders and lenders.

Table of Contents

  1. 1. INTRODUCTION

    1. 1.1 Study Assumptions and Market Definition

    2. 1.2 Scope of the Study

  2. 2. RESEARCH METHODOLOGY

  3. 3. EXECUTIVE SUMMARY

  4. 4. MARKET DYNAMICS AND INSIGHTS

    1. 4.1 Market Overview

    2. 4.2 Market Drivers

    3. 4.3 Market Restraints

    4. 4.4 Insights on Various Regulatory Trends Shaping Indian Faucet Market.

    5. 4.5 Insights on impact of technology and innovation in Faucet Market.

    6. 4.6 Insights on Product Technology

    7. 4.7 Industry Attractiveness - Porters' Five Forces Analysis

      1. 4.7.1 Threat of New Entrants

      2. 4.7.2 Bargaining Power of Buyers

      3. 4.7.3 Bargaining Power of Suppliers

      4. 4.7.4 Threat of Substitutes

      5. 4.7.5 Intensity of Competitive Rivalry

    8. 4.8 Impact of COVID-19 on the Market

  5. 5. MARKET SEGMENTATION

    1. 5.1 By Product Type

      1. 5.1.1 Ball

      2. 5.1.2 Disc

      3. 5.1.3 Cartridge

      4. 5.1.4 Compression

    2. 5.2 By Technology

      1. 5.2.1 Manual

      2. 5.2.2 Automated

    3. 5.3 By Material Used

      1. 5.3.1 Stainless Steel

      2. 5.3.2 Chrome

      3. 5.3.3 Bronze Plastic

      4. 5.3.4 Others.

    4. 5.4 By Application

      1. 5.4.1 Bathroom

      2. 5.4.2 Kitchen

      3. 5.4.3 Others.

    5. 5.5 By End User

      1. 5.5.1 Residential

      2. 5.5.2 Commercial

      3. 5.5.3 Industrial

  6. 6. COMPETITIVE LANDSCAPE

    1. 6.1 Market Concetration Overview

    2. 6.2 Company Profiles

      1. 6.2.1 Jaquar

      2. 6.2.2 Bosch

      3. 6.2.3 waterman

      4. 6.2.4 Roca

      5. 6.2.5 Cera

      6. 6.2.6 Cavier

      7. 6.2.7 Hindware

      8. 6.2.8 Delta faucet

      9. 6.2.9 Grohe

    3. *List Not Exhaustive
  7. 7. MARKET OPPORTUNTIES AND FUTURE TRENDS

  8. 8. DISCLAIMER AND ABOUT US

**Subject to Availability

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Frequently Asked Questions

The India faucet Market market is studied from 2018 - 2027.

The India faucet Market is growing at a CAGR of >7.4% over the next 5 years.

The India faucet Market is valued at 19 Billion USD in 2018.

Kohler , Jaquar , waterman, Roca , Cera are the major companies operating in India faucet Market.

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