According to the latest data, the output value of global kitchen and bathroom faucet accessories in 2016 reached as high as 8.83 billion U.S. dollars, showing a clear growth trend compared with the previous years. And the data show that in all regions of the world sanitary ware market size and share point of view, tap water in Asia in the global market occupy the top position.

And as an important product of sanitary products, faucet's market share is more than 70% of the North American and European brands, which shows that these North American and European brand manufacturers in manufacturing and market development dominates.

In recent years, driven by market recovery and property market, the output and sales of faucets in the world have been steadily rising. In 2016, the world's faucet production reached 1,526 million sets and the purchasing volume was 1,521 million sets.

Taking Asia, the world's largest faucet market, for example, the sanitary ware market in Asia reached 3.6 billion U.S. dollars in 2016, accounting for 41.2% of the global market. Followed by the European market, the market size reached 2.1 billion US dollars, the global market share of 24.1%, the size of the North American market ranked third in the rankings, was 1.6 billion US dollars, accounting for 18.6% of the global market.

It is believed that under the global economic stimulus, there will still be room for improvement in the faucet market. According to the data forecast, by 2023, the global faucet market will reach a scale of 11.76 billion U.S. dollars.

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