Electric Taps Market Challenges, Key Players, Market Segments, Development, Opportunities, Forecast Report 2031

Rise in electric taps market opportunities, major companies have adopted strategies such as acquisition and product launch, to offer better services

WILMINGTON, DE, UNITED STATES, December 10, 2024 /EINPresswire.com/ -- Electric Taps Market Overview and Insights

According to a recent report by Allied Market Research, titled “Electric Taps Market by Product, End-use Industry, and Mounting Type: Opportunity Analysis and Industry Forecast, 2020–2027”, the global electric taps market was valued at $310.0 million in 2019 and is projected to reach $631.0 million by 2027, growing at a compound annual growth rate (CAGR) of 12.0% from 2020 to 2027. In 2019, the Asia-Pacific region held the largest share of the market, accounting for approximately 37.5%, followed by Latin America, the Middle East, and Africa (LAMEA).

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What Are Electric Taps?
Electric taps are innovative plumbing fixtures designed to operate automatically or heat water instantly. They come in two primary categories: touchless taps and instant heating taps.

Touchless Taps: These taps use sensors to detect hand movements under the nozzle, automatically controlling the water flow. When hands are placed under the tap, a signal activates the water flow, which stops when the hands are withdrawn.

Instant Heating Taps: These taps instantly heat water as it flows through, using a coil system similar to a water heater. Unlike traditional water geysers, they lack a storage tank but provide customizable water temperatures based on user preferences.

Key Benefits of Electric Taps
Electric taps offer several advantages:

Water Conservation: Touchless taps minimize water wastage by only operating when needed.
Energy Efficiency: Instant heating taps reduce energy consumption by heating only the required amount of water instead of an entire tank.
Aesthetic Appeal: Sleek and modern designs enhance the visual appeal of kitchens and bathrooms.
Challenges Facing the Electric Taps Market
Despite their benefits, the high production costs of electric taps remain a significant challenge. The advanced technology and premium materials used in their manufacturing drive up prices, creating a barrier for widespread adoption, particularly in cost-sensitive markets.

Impact of COVID-19 on the Market
The COVID-19 pandemic adversely impacted the electric taps market. Lockdowns and restrictions disrupted supply chains and halted construction and manufacturing activities, slowing market growth. However, the pandemic also heightened demand for touchless taps, especially in commercial spaces such as public restrooms, to reduce physical contact and minimize virus transmission. As production facilities gradually resumed operations, the market began to recover, with increased emphasis on hygiene-oriented solutions.

Future Opportunities
The rising preference for smart products, including electric taps with artificial intelligence (AI) integration, is expected to drive market growth. These products align with the green building movement, offering energy efficiency and enhanced functionality. Such advancements are likely to create lucrative opportunities for market players during the forecast period.

Market Segmentation
The report categorizes the electric taps market by product type, end-use industry, mounting type, and region:

By Product Type: The market is segmented into touchless taps and instant heating taps.
By End-use Industry: It is divided into residential and commercial sectors, with the commercial segment being the highest revenue contributor in 2019.
By Mounting Type: The market is categorized into wall-mounted and deck-mounted taps, with the deck-mounted segment leading in 2019.
Regional Insights

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Regionally, the market analysis covers:

North America: Includes the U.S., Canada, and Mexico.
Europe: Comprises Germany, France, the UK, Italy, and other parts of Europe.
Asia-Pacific: Encompasses China, Japan, India, South Korea, and the rest of the region.
LAMEA: Includes Latin America, the Middle East, and Africa.
Asia-Pacific dominated the global market in 2019 and is expected to maintain its leadership due to rapid urbanization, increased construction activities, and growing consumer demand for advanced home solutions.

Key Findings and Market Players
Product Segment: Touchless taps generated the highest revenue in 2019.
End-use Industry: The commercial sector dominated the market in 2019.
Mounting Type: Deck-mounted taps led the market in 2019.
Regional Leadership: Asia-Pacific held the largest market share in 2019.
Prominent players in the electric taps market include 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., Ltd., and Xiaomi Corporation.

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David Correa
Allied Market Research
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