SAN FRANCISCO, July 13, 2021 / PRNewswire / – The Global thermostatic valve market size is expected reach $ 11.59 billion by 2028, registering a CAGR of 5.29% over the forecast period, according to a new report from Grand View Research, Inc. The COVID-19 pandemic has affected almost every sector of the industry. Consumer attention has shifted to everyday essentials, impacting non-essential industries like plumbing. Several home improvement activities were suspended in 2020.
Main lessons and findings:
- The comfort and safety provided by thermostatic valves is a major factor that is expected to drive the demand for products across the world.
- Based on the type of product, the global market is categorized into single lever, two-handle mixers, and others. The crutches segment held the maximum share of revenue in 2020 due to the high demand for these products in the residential sector
- Government support plans for affordable housing and low home loans are major factors encouraging homeowners to invest in renovating and renovating their homes.
- Asia Pacific is expected to experience the fastest growth rate from 2021 to 2028 due to the increase in consumer disposable income, the availability of advanced products and the increase in the housing and residential construction sector
Read the 85-page market research report, “Thermostatic Valve Market Size, Share and Trend Analysis Report by Product (Single Lever, Two Handle, and Others), by End User (Residential, Commercial), by Region and Segment Forecast, 2021-2028“, by Grand View Research
Several key market players provide modern faucets, which provide aesthetic appeal and are hygienic to use. Also The World Health Organization (WHO) has recognized the shortcomings of the conservative design of public toilets, propelling the need for thermostatic faucets in hospitals and other health facilities.
In addition, product innovation is expected to drive adoption of thermostatic valves among consumers. For example, Delta Faucets provides Touch2O technology, which enables water flow to be activated by flouting the capacity field anywhere around the device. Additionally, the increase in product offerings through social media and e-commerce platforms is influencing the way consumers buy products. Many market players are looking for both direct-to-consumer and online channels.
According to the WHO, in several developing countries, the impact of nosocomial infections (HAIs) is greater than in developed countries. In addition, the advent of smart faucets has reduced frequent contact with the handles, making them more hygienic. Companies are increasingly focusing on strategic partnerships, as these growth strategies allow targeting a wider audience and increasing brand visibility.
Grand View Research has segmented the global thermostatic valve market on the basis of product, end user, and region:
- Thermostatic Valve Product Outlook (Revenue, USD Million, 2016 – 2028)
- Single lever mixer
- Two handle mixers
- Thermostatic Valve End User Outlook (Revenue, USD Million, 2016 – 2028)
- Regional Outlook for Thermostatic Valves (Revenue, USD Million, 2016 – 2028)
- North America
- Rest of North America
- Asia Pacific
- Central & South America
- Rest of the center and South America
- Middle East & Africa
- South Africa
- Rest of Middle East & Africa
List of key players in the thermostatic valve market
- Grohe SA
- Kohler Co.
- Moen, Inc.
- Cera Sanitaryware Ltd.
- Rocca Sanitary
- Jaguar Group
- Geberit AG
- Reliance Worldwide Corporation Ltd.
- Masco Corp.
- LIXIL Corp.
Browse Grand View Research’s coverage on Global home care and decoration industry:
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- Smart Faucets Market – The global smart faucet market size is expected to reach $ 667.3 million by 2025, according to a new report from Grand View Research, Inc., with a CAGR of 12.0% during the forecast period.
- Smart bathroom market – The global smart bathroom market size is expected to reach $ 6.69 billion by 2027, according to a new report from Grand View Research, Inc., with a CAGR of 10.5% from 2020 to 2027.
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About Grand View Search
Grand View Research, a United States-based market research and consulting company, provides syndicated and personalized research reports and consulting services. Checked in California and headquartered at San Francisco, the company has more than 425 analysts and consultants, adding more than 1,200 market research reports to its extensive database each year. These reports provide in-depth analysis of 46 industries in 25 major countries around the world. Using an interactive market intelligence platform, Grand View Research helps Fortune 500 companies and renowned academic institutes understand the global and regional business environment and assess opportunities as they arise.
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