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A faucet is a regulator that controls the flow of liquid, especially water out of a pipe or from a reservoir.
Latin America Faucet Market Analysis, 2020 research report depicts a deep-dive market analysis of statistics of Latin America Faucet market which consists of regional and country-wise market size, market forecast, CAGR market segmentation, market shares of diverse regions and countries, market share of various end-users, applications, product type, technologies, competitive benchmarking, etc.
Market Opportunities
According to MarkNtel Advisors’ research report titled “Latin America Faucet Market Analysis, 2020”, the Latin America Faucet market is anticipated to grow at a CAGR of 3% during 2021-26F. The growth of the segment is accredited to the rising disposable income of the consumers, significant growth in home remodeling, thus increasing the demand for smart bathroom accessories along with numerous launches of sensor-based bathroom faucets. Furthermore, escalating government investment toward the construction of residential and commercial buildings, changing consumer preferences and lifestyle, growth in urban population, and surging presence of international brands are expected to fuel the growth of the global faucet market during the forecast period.
The demand for faucets witnessed a sharp decline this year amid the COVID-19. Manufacturing and construction are the severely affected sector in the region especially in Brazil due to strict social distancing policies which have a major impact on numerous construction sites. However, the demand for faucets is projected to experience positive growth in the near future.
Market Segmentation
Hotel Segment Acquired the Significant Market Share
Based on End User, the Hotel segment held a significant market share in the Latin America Faucet market in 2019. The rising foothold of international hotel chains, increasing partnerships among the companies to establish their strong presence throughout the region, and a burgeoning number of installations of advanced and multifunctional faucets in the rooms are anticipated to promote the growth of the market in the forthcoming timeline. However, the residential sector is expected to grow at a sturdy rate owing to the escalating number of houses and burgeoning demand for premium kitchen and bathroom fixture products by the consumer. Moreover, the introduction of the smart city plan by the government is projected to accelerate the growth of the Faucet market in Latin America in the coming years as stated in the MarkNtel Advisors’ research report “Latin America Faucet Market Analysis, 2020”.
Competitive Landscape
According to MarkNtel Advisors, the key players with a considerable market share in the Latin America Faucet market include Moen Incorporated, Grohe AG, Kohler Co., Franke Holding AG, Spectrum Brands, Inc., Toto Ltd., Sloan Valve Company, Platinum Solutions Group, etc.
Key Questions Answered in the Market Research Report:
Market Outlook, Segmentation and Statistics
Frequently Asked Questions:
Q. What is the historical year, base year and forecast year considered in the research report on Latin America Faucet Market?
A. The historical data has been provided since 2016, while the base year is 2020 and the data is forecast up-to 2026.
Q. What are the units or denomination for measuring market value and volume in the report?
A. The market size/industry size or the market value is measured in terms of USD Million.
Q. What would be the growth rate or CAGR of Latin America Faucet Market during 2021-26F?
A. The Latin America Faucet Market is forecast to grow at a CAGR of 3% during 2021-26F.
Q. Who are the key competitors or players operating in Latin America Faucet Market?
A. Moen Incorporated, Grohe AG, Kohler Co., Franke Holding AG, Spectrum Brands, Inc., Toto Ltd., Sloan Valve Company, Platinum Solutions Group etc., are few of the leading players in the Latin America Faucet Market.
Q. Which application segment would emerge as an opportunity area for players in Latin America Faucet Market?
A. Kitchen segment is expected to attain the highest CAGR during the forecast period and maintain its significant market share.
Q. Which country would emerge as an opportunity area for players in Latin America Faucet Market?
A. Mexico continue to grow at a highest CAGR, presenting immense opportunities for market players of Latin America Faucet Market.
