The global thermostatic mixers market is set for explosive growth, with projections indicating a surge to $5.79 billion by 2031. This remarkable expansion, driven by the increasing focus on water and energy conservation.
NEW YORK, Nov. 5, 2024 /PRNewswire/ -- According to a new comprehensive report from The Insight Partners, the global Thermostatic Mixers market is observing significant growth owing to the increasing investments in the construction sector and rising residential and commercial infrastructure.
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The report runs an in-depth analysis of market trends, key players, and future opportunities. In general, the Thermostatic Mixers market comprises a vast array of wall and deck mount which are expected to register strength during the coming years.
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Market Overview and Growth Trajectory:
Thermostatic Mixers Market Growth: According to an exhaustive report by The Insight Partners, the Thermostatic Mixers Market is experiencing significant growth, driven by the growing proliferation of thermostatic mixers in hotels, resorts, spa centers, hospitals, and care centers. The market, valued at $4.01 billion in 2023, is expected to grow at a Compound Annual Growth Rate (CAGR) of 4.7% during 2023-2031.
The global Thermostatic Mixers market is observing substantial growth and is expected to maintain its upward trajectory in the foreseeable future. This growth can be accredited to numerous factors. Firstly, there is a rising growing demand for water and energy consumption. The awareness about water and energy conservation is growing owing to the future need for water as well as limited clean water availability across the globe. The rise in government initiatives toward the use of water-efficient and water-conservation products is fueling the demand for thermostatic mixers. Furthermore, the increasing importance of temperature control for safety. Unsafe water temperature is the major cause of injuries caused while taking a bath or shower across the globe. To control the water temperature as desired, there is an increased installation of thermostatic mixers, which ensure the precise water temperature and regulate the flow. Thus, the rising importance of temperature control for safety boosts the thermostatic mixer market growth.
Technological Innovations: In the ever-evolving landscape of bathroom faucets, thermostatic mixers are becoming increasingly popular due to their precision in maintaining water temperature, energy efficiency, and improved safety features. Thermostatic mixer manufacturers are engaged in the development of advanced thermostatic shower mixers to further strengthen their product portfolio and maintain the company's position in the market worldwide. For instance, in April 2024, Jaquar Group innovated and launched a hybrid touch thermostatic mixer shower-Jaquar Qloud. This new product offers precise water temperature regulation, water flow, and shower mode selection integrated with analog and digital control systems. In addition, in February 2022, Gainsborough Showers launched a new range of mixer showers, including three premium models integrated with thermostatic temperature control Cool Touch technology for safety in showering applications. Thus, the launch of hybrid touch and premium thermostatic mixers is expected to create lucrative opportunities for the key companies operating in the thermostatic mixer market from 2023 to 2031.
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Growing popularity of luxury products and home renovation projects: In smart bathrooms of various residential and commercial settings, consumers prefer products from luxury brands of products such as. This is expected to raise the demand for thermostatic mixers to regulate temperature and water flow from showers and taps precisely. In addition, many consumers are looking for brands that offer thermostatic mixers for showers with rainfall or waterfall-like designs. Some of the advanced thermostatic mixer shower examples include SH-42202 thermostatic bathroom shower mixer by LEELONGS, BubbleSpa Exposed Mixer Shower System by Kelda Showers Limited, Mira Opti-floPro by Kohler Mira Ltd among others. Moreover, spending on home improvement or renovation projects in the US increased from US$ 363 in 2020 to US$ 472 billion in 2022. It is also expected that consumer spending on home improvements, renovations, and repairs is anticipated to reach US$ 485 billion by the end of 2024, as per the study by the Joint Center for Housing Centers of Harvard University (JCHS). Thus, the growing popularity of luxury products and home renovation projects is expected to be the key trend in the thermostatic mixers market from 2023 to 2031.
Geographical Insights: In 2023, Europe led the market with a substantial revenue share, followed by North America and Asia Pacific. Asia Pacific is expected to register the highest CAGR during the forecast period.
Thermostatic Mixers Market Segmentation, Applications, Geographical Insights:
- Based on mounting type, the market is divided into deck mount, wall mount. The wall mount segment held the largest share of the Thermostatic Mixers market in 2023.
- Based on application, the market is bifurcated into residential and commercial. The commercial segment held the largest share of the Thermostatic Mixers market in 2023.
- Based on design type, the market is categorized into concealed and exposed. The concealed segment held the largest share of the Thermostatic Mixers market in 2023.
- The Thermostatic Mixers market is segmented into five major regions: North America, Europe, APAC, Middle East and Africa, and South and Central America.
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Key Players and Competitive Landscape:
The Thermostatic Mixers Market is characterized by the presence of several major players, including:
- Hansgrohe SE
- LIXIL Corp
- TOTO Ltd.
- ROCA Group
- Aquant
- FIMA CARLO FRATTINI S.P.A.
- Geberit AG
- Hindware Home Innovation Ltd.
- Jaquar Group
- Kohler Co.
These companies are adopting strategies such as new product launches, joint ventures, and geographical expansion to maintain their competitive edge in the market.
Thermostatic Mixers Market Recent Developments and Innovations:
- "Kohler opened manufacturing facility in Casa Grande."
- "Kohler Co. launched a warehouse in Huntsville, Alabama, to support growing customer demand for its high-volume STERLING Vikrell bath and shower fixtures."
- "AXOR and PHOENIX collaborated to introduce AXOR ShowerSelect ID."
- "Roca Group acquired Nosag and IneoCare. Both companies are dedicated to the production of bathroom and toilet assist devices."
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Thermostatic Mixers Market Drivers, Challenges, Future Outlook and Opportunities:
The average water temperature that creates pain sensations is 106°C, making it essential to maintain the temperature of water in bathing and shower applications. In the US, there are between 3,000 and 4,000 cases of water-related scalds, with a ~30% death rate for people aged above 60, as per the data from the US EPA. Further, the rise in accidents or injuries owing to the variation in water temperature through water sources in bathing or washing applications in residential and commercial premises has increased the importance of water temperature control for safety. According to the Americans with Disabilities Act, every water source in the bathing area must have anti-scald protection. This means that the bathtub and shower must be protected from hot water entering the bathing environment.
The initial cost of the thermostatic mixer is high as compared to the conventional or standard water mixer owing to advanced technologies and additional features integrated into thermostatic mixers. The maintenance and repair cost of a thermostatic mixer is also high as it requires complex procedures for regular maintenance and repair. Moreover, owing to various technical or product standards in several countries worldwide is a key challenge for manufacturers to manufacture thermostatic mixers and related components such as showers, valves, taps, etc. For example, the ASSE 1070 standard by the American Society of Sanitary Engineering and BS EN 1111:2017 by European Standards, among others. Furthermore, considering market-specific regulatory and legal factors, manufacturers must follow safety standards and certifications to ensure the safety and quality of their products. This includes compliance with water safety regulations, building codes, and environmental standards. Therefore, the high installation and maintenance costs and stringent environmental regulations & safety standards hampers the thermostatic mixer market growth.
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The wall-mounted thermostatic mixer is another mounting type installation that offers safety and maximum comfort to residential and commercial washrooms. The wall-mounted thermostatic mixer offers thermostatic temperature control in the bathtub filling and shower applications. The wall-mounted thermostatic mixer offers benefits such as a unique aesthetic and space-saving design, easy maintenance, etc. A thermostatic mixer helps maintain the water supply in the event of pressure fluctuations while ensuring constant temperature. Thus, the benefits associated with wall mount thermostatic mixers, along with a rise in residential construction activities across developing economies, are expected to bolster the market growth in the coming years.
Conclusion:
Intervention of smart technology in sanitaryware and bathroom fixtures is currently positively influencing the application of thermostatic mixer. The Thermostatic Mixers Market is witnessing a period of strong growth and development across various nations, such as the UK, Germany, France, the US, and Canada owing to increasing consumer inclination towards advanced bathware products. The growing consumer preference for premium products and high social lifestyle is boosting the application of thermostatic mixers at the global level. The introduction of technologically advanced thermostatic mixers, such as hybrid thermostatic mixers and high-end sensor-equipped thermostatic mixers, the proliferation of luxury products, and the emphasis on home renovation are positively impacting the market growth.
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With projected growth to $5.79 billion by 2031, the Thermostatic Mixers Market represents a significant opportunity for component providers, system technology integrators, investors, system manufacturers, and industry stakeholders. By staying abreast of market trends, embracing innovation, and focusing on quality and performance, companies can position themselves for success in this dynamic and evolving market landscape.
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