Sensor Faucet Market Revenue Growth Predicted by 2026


Sensor Faucet is a faucet laced with a proximity sensor and mechanism that enables its valve to open and close in response to the presence of a hand or hands in close proximity. Sensor faucet is used in public washrooms, airports, hotels, and other places. The proximity sensor in the faucet allows water to flow after detecting the presence of hand near the faucet.
Increasing construction of smart buildings worldwide is one of the major factors driving growth of the market
Increasing construction of smart buildings worldwide is one of the major factors driving growth of the sensor faucet market. For instance, according to the Coherent Market Insights’ analysis, the number of smart buildings constructed in 2016 was 5.4 million units and is expected to increase to 107.3 million units by 2021, worldwide. Therefore, increasing construction of smart buildings is expected to propel installation of real- time system that facilitate remote or automatic functioning of systems.
Furthermore, sensor faucet offers several advantages over manual taps, owing to their water saving and energy efficient ability. Sensor faucets maintain constant temperature of water, which eliminates the need for increasing flow of electricity for changing water temperature. Therefore, these benefits are expected to increase demand for sensor faucet in smart buildings, thereby propelling growth of the market over the forecast period.
Global Sensor Faucet Market: Restraints
Prices of sensor faucets is one of the major factors hindering growth of the market. For instance, according to the Coherent Market Insights’ analysis, the price of normal tap is US$ 13.2 per piece, whereas sensor faucets cost around US$ 201.7 per piece. Such high difference in the costs of normal and sensor faucets is expected to adversely affect demand for sensor faucets.
Global Sensor Faucet Market: Regional Insights
The market for sensor faucet in Asia Pacific is expected to witness significant growth with highest CAGR over the forecast period. This is owing to increasing development of  smart city and government initiatives for smart city projects in emerging economies such as India and China. For instance, in 2015, Government of India launched '100 Smart Cities Mission', which is expected to further increase construction of smart buildings. Therefore, increasing construction of smart buildings contributes to high demand for installation of sensor faucets in the buildings. Moreover, increasing disposable income and changing lifestyle of consumers has led to adoption of solutions that are more convenient to operate. For instance, according to the Coherent Market Insights’, disposable income of consumers in India in 2017 was US$ 2.63 billion, which increased from US$ 2.27 billion in 2016. Therefore, all these factor are expected to drive growth of the market in Asia Pacific.
Browse market report with detail segmentation @ https://www.coherentmarketinsights.com/ongoing-insight/sensor-faucet-2200
Global Sensor Faucet Market: Competitive Landscape
The global sensor faucet market is highly fragmented due to the presence of several established and regional players. Major players operating in the global sensor faucet market include, LIXIL Group Corporation, Masco Corporation, Moen Incorporated, Jaquar, Kohler Corporation, Oras Limited, Pfister, Gessi S.p.A., Delta Faucet, Inc., and Roca Sanitario, S.A.
Key players are focused on adopting product development strategies in order to increase their share in the market. For instance, in May 2018, the Moen launched Essie pull down kitchen faucet. These faucets are equipped with touchless sensor that allow flow of water only after detecting the hand near faucet.



Comments

Post a Comment

Popular posts from this blog

Motor Vehicle Sensor Market - Size, Share, Outlook, and Opportunity Analysis, 2020 - 2027

  Market Overview Motor vehicle sensor control and monitor the chemical, physical, and process changes of automobiles. Sensors are used to reduce fuel consumption as well as onboard the weight of vehicles and also comply with government norms for passengers’ safety. With the advent of technology, automobiles are now equipped with a diverse range of sensors providing information about safety, comfort, and other convenience and comfort functions. The demand for sensors is dependent on a number of factors, ranging from technological advances to foreign trade to micro- and macro-economic variables that seek to improve the system functionality. The global motor vehicle sensor market is estimated to account for  US$ 75,447.5 Mn  in terms of value by the end of  2027 . Browse Complete Report @ https://www.coherentmarketinsights.com/market-insight/motor-vehicle-sensor-market-4129 Market Dynamics- Drivers Increasing need for legal and regulatory com...
Read more

Thermal Imaging Market - Size, Share, Outlook, and Opportunity Analysis, 2020 - 2027

  Market Overview Thermal imaging technology is a method of enhancing the object’s visibility in a totally dark environment by detection of infrared radiation emitted by an object and interpreting these radiations to create a visible pattern (image). This technology captures the upper layer of the infrared light spectrum. It best works in a dark environment without any ambient light and can see through fog, smoke, haze, and is capable of catching moving objects in real-time. There are two types of thermal imaging devices namely un-cooled devices and cryogenically cooled devices. The global Thermal Imaging Market was accounted for  US$ 1,978.7 Mn  in terms of value in 2019 and is expected to grow at  CAGR of 9.7%  for the period  2020-2027 . Browse complete Report @ https://www.coherentmarketinsights.com/market-insight/thermal-imaging-market-4090 Market Dynamics- Drivers Increased investment in armed forces modernization is expec...
Read more

Embedded Temperature Sensor Market - Size, Share, Outlook, and Opportunity Analysis, 2020 - 2027

  The temperature sensor is an electronic device that measures the temperature of person, environment or an object. The temperature sensor is used to state the degree or intensity of heat present in a substance. These sensors will convert input data to electronic data to record, monitor, and then display in a human readable format. There are mainly two types of sensors i.e. contact and non-contact temperature sensors. Non-contact temperature sensors are basically infrared (IR) sensors. Temperature sensor provides benefits such as durability, accuracy, and low power consumption. These sensors are used in various industries to detect overheating and give alert to end users. The temperature sensor finds its application in various sectors such as consumer electronics, semiconductor, chemical, manufacturing, and others. Browse complete Report @ https://www.coherentmarketinsights.com/market-insight/embedded-temperature-sensor-market-4015 The global embedded temperature se...
Read more