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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.

Moreover, stringent government regulations and policies regarding water conservation are expected to further increase installation of sensor faucets in public washrooms, airport, railways, hotels, and other places. For instance, according to the Water Conservation Act, passed in 2009, the U.S. government plans to reduce water consumption by 20% by 2020. The key purpose of the law is to encourage both urban and agricultural water providers to implement conservation strategies, monitor water usage, and report data to the Department of Water Resources (DWR) Therefore, all these factors contribute in growth of the market.

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.

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.

Global Sensor Faucet Market: Taxonomy

On the basis of product type:

  • Alternating Current Sensor Faucet
  • Direct Current Sensor Faucet

On the basis of technology:

  • Touch-On
  • Touch-Off

On the basis of application:

  • Commercial
  • Residential

On the basis of region:

  • North America
  • Europe
  • Asia Pacific
  • Latin America
  • Middle East
  • Africa

Research Methodology

Coherent Market Insights followsa comprehensive research methodology focused on providing the most precise market analysis. The company leverages a data triangulation model which helps company to gauge the market dynamics and provide accurate estimates. Key components of the research methodologies followed for all our market reports include:

  • Primary Research (Trade Surveys and Experts Interviews)
  • Desk Research
  • Proprietor Data Analytics Model

In addition to this, Coherent Market Insights has access to a wide range of the regional and global reputed paid data bases, which helps the company to figure out the regional and global market trends and dynamics. The company analyses the industry from the 360 Degree Perspective i.e. from the Supply Side and Demand Side which enables us to provide granular details of the entire ecosystem for each study. Finally, a Top-Down approach and Bottom-Up approach is followed to arrive at ultimate research findings.

Data Triangulation Methodology | Coherent Market Insights

Coherent Market Insights desk research is based on a principle set of research techniques:

  • National level desk research: It Includes research analysis of regional players, regional regulatory bodies, regional trade associations, and regional organization.
  • Multinational level desk research: The research team keeps a track of multinational players, global regulatory bodies, global trade associations, and global organization.

Coherent Market Insights has a large amount of in-house repository of industry database. This is leveraged as a burner for initiating a new research study. Key secondary sources include:

  • Governmental bodies, National and international social welfare institutions, and organizations creating economic policies among others.
  • Trade association, National and international media and trade press.
  • Company Annual reports, SEC filings, Corporate Presentations, press release, news, and specification sheet of manufacturers, system integrators, brick and mortar - distributors and retailers, and third party online commerce players.
  • Scientific journals, and other technical magazines and whitepapers.

Market Analysis | Coherent Market Insights

Preliminary Data Mining

The raw data is obtained through the secondary findings, in house repositories, and trade surveys. It is then filtered to ensure that the relevant information including industry dynamics, trends, and outlook is retained for further research process.

Data Standardization

Holistic approach is used to ensure that the granular and uncommon parameters are taken into consideration to ensure accurate results. The information from the paid databases are further combined to the raw data in order to standardize it.

Coherent Statistical model

We arrive at our final research findings through simulation models. Coherent Data Analytics Model is a statistical tool that helps company to forecast market estimates. Few of the parameters considered as a part of the statistical model include:

  • Micro-economic indicators
  • Macro-economic indicators
  • Environmental indicators
  • Socio-political indicators
  • Technology indicators

Data Processing

Once the findings are derived from the statistical model, large volume of data is process to confirm accurate research results. Data analytics and processing tools are adopted to process large chunk of collected informative data. In case, a client customizes the study during the process, the research finding till then are benchmarked, and the process for new research requirement is initiated again.

Data Validation

This is the most crucial stage of the research process. Primary Interviews are conducted to validate the data and analysis. This helps in achieving the following purposes:

  • It provides first-hand information on the market dynamics, outlook, and growth parameters.
  • Industry experts validates the estimates which helps the company to cement the on-going research study.
  • Primary research includes online surveys, face-to face interviews, and telephonic interviews.

The primary research is conducted with the ecosystem players including, but not limited to:

  • Raw Material Suppliers
  • Manufacturers
  • System Integrators
  • Distributors
  • End-users