Dublin, April 30, 2021 (GLOBE NEWSWIRE) — The “U.S. Faucet Market Size, Share & Trends Analysis Report by End User (Residential, Commercial), by Application (Kitchen, Bathroom), by Distribution Channel (E-commerce, Multi-brand Retailers), by Region, and Segment Forecasts, 2021-2028” report has been added to ResearchAndMarkets.com’s offering.
The U.S. faucet market size is anticipated to reach USD 4.7 billion by 2028 and is expected to expand at a CAGR of 4.8% from 2021 to 2028.
Rising demand for home furnishings and fittings is driving the market. According to the Leading Indicator for Remodeling Activity (LIRA), home improvement spending grew at 6.0% annually in 2019.
The growing construction of smart homes and smart bathrooms can be attributed to an increasing number of consumers showing a preference for a spa-like experience at home. Digital faucets that operate on sensors serve as a means of conserving water and energy through different features such as reduced tap flow, digital temperature control settings, touchless technology, infrared tap technology, and timed settings.
The U.S. EPA WaterSense label on sink faucets and accessories indicates that they use a maximum of 1.5 gallons of water per minute, which reduces a sink’s water flow by 30.0% compared to a standard flow of 2.2 gallons per minute. Thus, rising consciousness among consumers to save water is driving the demand for smart bathroom fittings and digital taps.
The COVID-19 pandemic has shaken every sector…