ICT RESEARCH REPORTS Sensor-Faucet-Market | Page 2

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.
Browse More About the Market Study @
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