How has the global faucet market changed in 2017?
In recent years, with the pull of emerging market, the global faucet production and sales have been steadily increasing. In 2016, the global production of faucets was 1.526 billion sets and purchase volume of faucets was 1.521 billion sets.
At present, Asia is the largest faucet market in the world, the market size in 2016 was $ 3.637 billion, with a global share of 41.2%. Followed by the European Region, the market size was $ 2.127 billion, accounting for 24.1% of the global market share. North America ranked third in total, the market size was $ 1.642 billion and the global market share was 18.6%.
Driven by demand, the global faucet market still has some space for development. Therefore, it is estimated that the global faucet market will reach 11.76 billion U.S. dollars by 2023.