Electric Taps Market Overview:

The purpose of this study is to provide an in-depth analysis of the Electric Taps market by segments, industry, and geography. The study provides detailed information on the major factors influencing the growth of the Electric Taps industry. The study also provides a thorough examination of the market's value chain.

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Global Electric Taps Market size was valued at US$ 398 Mn. in 2020 and the total revenue is expected to grow at CAGR 11.4% through 2021 to 2027, reaching nearly US$ 943.94 Mn.

Market Scope:

The research method used to assess and forecast the Electric Taps market begins with gathering revenue data from key suppliers using secondary research sources. When defining market segmentation, vendor offerings are also considered. Using the bottom-up method, the income of major corporations was utilized to assess the total size of the Electric Taps market.

Drivers:

The demand for smart homes and new construction is anticipated to increase demand for electric taps. The demand for the product is also anticipated to be fueled by the general expansion of residential and commercial infrastructure. According to the National Association of Realtors (NAR), sales of existing homes in the US increased by 22% from 2019 to 6.76 million in December 2020. As a result, there is a notable increase in the demand for homes, which is driving up the price of electric taps globally.

To prevent public contact and the spread of the illness, several institutions have already begun installing touchless taps in restrooms. The market for Touchless Taps is anticipated to expand significantly over the course of the forecast period due to hygienic concerns.

Segmentation:

The market is divided into Touchless and Instant Heating types depending on the product type. During the forecast period, the touchless segment is anticipated to grow with the highest CAGR of 10.27%, accounting for the largest product segment. The touchless on/off feature of touchless faucets is well known for assisting in water conservation. The tap automatically releases the flow of water in response to the movement of any hand or object that comes into contact with it. This completely eliminates the need for interpersonal contact and helps prevent the spread of germs by coming into contact with taps that are used by the general public.

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Key Players: the key players are:

• 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.
• Xiaomi Corporation

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Regional Analysis:

Market share information for North America, Europe, Asia-Pacific, the Middle East, and Africa, and South America are available separately. Maximize analysts assess competitive strengths and conduct competitive analysis on each rival separately.

COVID-19 Impact Analysis on Electric Taps Market: The detailed review of COVID-19 impact on the Electric Taps market based on import, suppliers, ket players have also been included in the Electric Taps market report.

Key Questions Answered in the Electric Taps Market Report are:

Which segment had the largest share in the Electric Taps market?
How is the competitive landscape of the Electric Taps market?
Which are the key factors impacting the Electric Taps market growth?
Which region has the maximum share in the Electric Taps market?
What will be the CAGR of the Electric Taps market during the forecast period (2021-2027)?
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