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publisherAdmin
time2019/11/22
The global pull out and pull down kitchen
faucet market is anticipated to gain impetus from the rising demand for modern
kitchens. Fortune Business Insights, in a published report titled, “Pull
Out/Down Kitchen Faucets Market: Global Market Analysis, Insights, and
Forecast, 2018-2026,” states that the global pull out and pull down faucet
market was valued at US$ 1,990.6 Mn in 2018. Fortune Business Insights have
also declared that this market is likely to reach US$ 2,954.3 Mn by the end of
2026, thereby exhibiting a moderate CAGR of 5.1%.
The report classifies the global pull out
and pull down kitchen faucet market on the bases of type, flow rate,
application, distribution channel, material, install type, functionality, and
geography. By functionality, the market is divided into manually operated,
touchless, and hybrid. According to Fortune Business Insights, touchless pull
out or pull down kitchen faucets that contains advanced sensor technologies are
anticipated to exhibit higher adoption by the end-users.
The global pull out and pull down kitchen
faucet market is geographically divided into Asia Pacific, Latin America, the
Middle East and Africa, North America, and Europe. Amongst these, Latin America
and North America together, currently hold approximately 45% share in the
global pull out and pull down kitchen faucet market.
North America is projected to dominate the
market throughout the forecast period. This is likely to occur due to the early
adoption of advanced and modish kitchens. Asia Pacific, on the other hand, is
anticipated to exhibit the highest CAGR during the forecast period between
2019-2026. Moreover, the ever-growing human population in the countries of this
region is resulting in the construction of new homes. There has also been a
rise in the income of people in this region, which is further causing a demand
for smart kitchens and smart homes.
These factors are projected to drive the
global pull out and pull down kitchen faucet market during the forecast period.
In terms of market share, Europe is likely to remain in the second position due
to people’s increasing interest in advanced technologies and also, in adopting
modern lifestyles.
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