China has emerged as the manufacturing hub for domestic and overseas faucet manufacturers as companies like Jomoo, Toto, YUYAO QILI METAL PRODUCTION FACTORYMoen, Kohler, etc., have set up their manufacturing units in the country.The demand for faucets in China is largely driven by the channel sales because of its mass market reach, however the institutional sales channels are also anticipated to gain market share in the China’s faucets market during the forecast period because of growing commercial and hospitality sectors.
The demand for bathroom faucets is highest in China, however, with the growing restaurant and residential sectors, the demand for kitchen faucets is also expected to increase during the next five years. The China’s faucets market is forecast to grow at a CAGR of about 16% during 2013-18. The demand for advanced technology based faucets such as sensor based, thermostatic faucets, etc., is also anticipated to increase in China during the next five years on account of increasing per capita income and changing lifestyles.
Post time: Dec-27-2016