The bathroom taps market is set to grow by 7.25% by 2021, according to a new report.
The Global Bathroom Sensor Taps Market 2017-2021 from market researcher WiseGuyReports found that this growth would be driven by the large-scale popularity of eco-friendly faucets, such as sensor taps, which are predicted to be the fastest-growing product type.
UK growth forecasts have been downgraded to 0.7% this year, because of the slowing economy that is anticipated as the UK prepares to depart the EU. However, it is expected to improve to 1.8% in 2019.
Bristan head of product Matt Hicks commented on the report: “This latest report is great news for the bathroom taps market which, like the rest of the economy, has been in a period of uncertainty following Brexit. The next few years look set to be an exciting time for the market and we as a brand can’t wait to see what lies ahead.”