Faucetsindustryinindia2014

Faucets Industry in India 2014 - 2019

Picture Courtesy: www.info.wowlogistics.com

2 Copyright @ 2015 ValueNotes Database Pvt. Ltd. All rights reserved

• Forty-three cities in India have a population of1mn+

• Cities in India are classified on the basis of cost ofliving:• Four metros including

Mumbai, Delhi, Chennai, Kolkata• Nine tier I (+5mn) cities including Pune,

Ahmedabad and Bangalore• Twenty-two tier II cities (1mn to 5mn) including

Patna, Kochi, Rajkot, Madurai, etc• Forty-one tier III cities (less than 1mn) including

Ranchi, Mangalore, Gwalior, Roorkee, etc.

India - Snapshot

Population growth 1.4% p.a

Land Area 3.29 mn sq km

Population density 324 persons per sq km

Form of government Democracy

Number of States 29 states & seven union territories

Capital New Delhi

Per capita income Nominal: USD 1,124.4 p.a

Religion Six main religions

LanguagesHindi (national language), English (business language), 22 official languages

Currency Rupees

Exchange rate (USD to INR)

1 USD = INR 60.03(as on 30th June 2014)

Rural-urban mix 68% people reside in rural areas

Households 246mn

Literacy rate 74.04%

West

North

South

East

Source: Government websitesMetro citiesTier-I cities

TOCMarket

OverviewAnnexure &

AppendixIndustry Trends

Competitive Environment

Industry Structure

Executive Summary

Drivers & Inhibitors

Industry Attractiveness

India Fact File

Andhra Pradesh

Arunachal Pradesh

Assam

Bihar

Chhattisgarh

Goa

Gujarat

Haryana

Himachal Pradesh

Jammu and

Kashmir

Jharkhand

Karnataka

Kerala

Madhya Pradesh

Maharashtra

ManipurMeghalaya

Mizoram

Nagaland

Odisha

Punjab

Rajasthan

Sikkim

Tamil Nadu

Tripura

Uttar Pradesh

Uttarakhand

West Bengal

Mumbai Pune

Hyderabad

Bangalore

JaipurNew Delhi

Kolkata

Chennai

Ahmadabad

Lucknow

Nagpur

Patna

Surat

Telangana

Preface to the Report

3

Who is the Reader?

Any participant or stakeholder in the faucet industry, who would benefit from this report

Analysts, industry experts or any person with an interest in tracking the progress of the faucet industry

Purpose of the Report

The report gives insights on how the faucet industry is expected to grow till FY 2019. It provides intelligent insights on the

drivers and challenges for the industry and key segmentation by region, price, category, end users, etc.

Another important aspect of the report is the profiles of the top industry players in the faucet industry in India

Scope of the report

This report looks at the current scenario for faucet industry in India

Plastic faucets, sanitary ware, wellness products, tiles, bathroom and kitchen appliances do not come under the purview of

this report

TOCMarket

OverviewAnnexure &



Industry Structure

Executive Summary


Government Initiatives


Copyright @ 2015 ValueNotes Database Pvt. Ltd. All rights reserved

Executive summary Slide 9

1 Industry structure Slide 10

1.1 Faucets industry structure Slide 11

1.2 Evolution of faucets industry in India Slide 12

1.3 Industry definition Slide 13

1.4 Industry supply chain Slide 14

2 Industry overview Slide 16

2.1 Market size & growth Slide 17

2.2 Industry segmentation by product category Slide 18

2.3 Industry segmentation by products Slide 19

2.4 Industry segmentation by end-users Slide 20

2.5 Industry segmentation – tier I, tier II and tier III markets Slide 21

2.5 Geographical analysis Slide 22

2.6 Price analysis Slide 23

3 Driver and inhibitors Slide 24

3.1 Snapshot of drivers & inhibitors Slide 25

3.2 Growth in real estate industry Slide 26

3.2.1 Growth in residential sector Slide 27

3.2.2 Growth in commercial sector and hospitality industry Slide 28

3.3 Rise in disposable income and consumption Slide 29

3.4 Rapidly growing urbanization trend Slide 30

3.5 Government’s initiative: Swachh Bharat Abhiyan Slide 31

3.6 Land acquisition issues Slide 32

3.7 Lack of penetration in small cities and rural India Slide 33

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TOCMarket

OverviewAnnexure &



Industry Structure

Executive Summary




4 Industry trends Slide 34

4.1 Recent trends witnessed Slide 35

5 Industry analysis Slide 36

5.1 Porter’s analysis of faucets industry in India Slide 37

5.2 Industry attractiveness index Slide 38

6 Competitive environment Slide 39

6.1 Faucets industry segmentation: Organized vs. unorganized Slide 40

6.2 Market share of key players Slide 41

6.3 Manufacturing landscape Slide 42

6.4 Competitor benchmarking Slide 43

7 Profiles of key players Slide 44

7.1 Profile I – Jaquar & Company Pvt. Ltd. Slide 45

7.2 Profile II – Grohe India Pvt. Ltd. Slide 47

7.3 Profile III – Ess Ess Bathroom Products Pvt. Ltd. Slide 49

7.4 Profile IV – HSIL Ltd. Slide 51

7.5 Profile V – Kohler India Corporation Pvt. Ltd. Slide 53

8 Annexure & Appendix Slide 55

8.1 Real estate industry in India Slide 56

8.2 Increase in urbanization Slide 57

8.3 Research Methodology Slide 58

8.4 Abbreviations & Bibliography Slide 59

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Executive Summary




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Chart 1 Supply-chain in the Indian faucets industry Slide 14

Chart 2 Market size and growth of the faucets industry in India FY 2011-19 (INR bn) Slide 17

Chart 3 Faucets industry in India segmented by product category for FY 2014 (by value) Slide 18

Chart 4 Faucets industry in India segmented by products for FY 2014 (by value) Slide 19

Chart 5 Faucets industry in India segmented by end users in FY 2014 (by value) Slide 20

Chart 6 Faucets industry in India segmented based on consumption by type of cities in FY 2014 (by value) Slide 21

Chart 7 Faucets industry segmentation by region (by value) Slide 22

Chart 8 Price analysis of players in the industry for ‘single-lever basin faucets’ Slide 23

Chart 9 Market size of real estate industry (USD bn) Slide 26

Chart 10 Number of middle class households (in mn) Slide 26

Chart 11 Residential housing demand estimations across top seven cities during 2010-2014 (‘000 units) Slide 27

Chart 12 Commercial office space demand estimations across top seven cities during 2010-2014 (mn sq feet) Slide 28

Chart 13 India’s hotel industry revenues (USD bn) Slide 28

Chart 14 Rise in per capita income of India (INR) Slide 29

Chart 15 Consumer breakdown by income level – India (USD mn) Slide 29

Chart 16 India’s population break-up (mn) Slide 30

Chart 17 Porter’s analysis of faucets industry in India Slide 37

Chart 18 Faucets industry segmentation by organized vs. unorganized in FY 2014 (by value) Slide 40

Chart 19 Market share of key players in the organized sector by value Slide 41

Chart 20 Faucets manufacturing locations of key players in pan India Slide 42

Chart 21 Jaquar’s net profit during the year (INR mn) Slide 46

Chart 22 Jaquar’s key manufacturing locations Slide 46

Chart 23 Grohe India’s net profit during the year (INR mn) Slide 48

Chart 24 Grohe India’s key manufacturing locations Slide 48

Chart 25 Ess Ess’ net profit during the year (INR mn) Slide 50

List of Charts and Tables

TOCMarket

OverviewAnnexure &



Industry Structure

Executive Summary




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Chart 26 Ess Ess’ key manufacturing locations Slide 50

Chart 27 HSIL’s net profit during the year (INR mn) Slide 52

Chart 28 HSIL’s key manufacturing locations Slide 52

Chart 29 Kohler India’s net profit during the year (INR mn) Slide 54

Chart 30 Kohler India’s key manufacturing locations Slide 54

Chart 31 Real estate construction projects in FY 2015 by state Slide 56

Chart 32 Increase in urbanization over years Slide 57

List of Charts and Tables

TOCMarket

OverviewAnnexure &



Industry Structure

Executive Summary



Table 1 Breakup of cities according to their population Slide 21

Table 2 Faucets manufacturing locations of key players Slide 42

Table 3 Competitive benchmarking of top players in India Slide 43

Table 4 Financial indicators of Jaquar Slide 46

Table 5 Financial indicators of Grohe India Slide 48

Table 6 Financial indicators of Ess Ess Slide 50

Table 7 Financial indicators of HSIL Slide 52

Table 8 Financial indicators of Kohler India Slide 54


Market share of top 5 firms in

organized sector = 93%Output in organised Sector = 48%

Organised

SectorConcentration

Macro Data: Market size, growth, market

shares of key players, customer

segments, key industry metrics

Micro Data: Segmental market size &

growth, financials of key players

Completeness: All data points is

available

Quality: Accuracy of data

Recency: Latest period data is available

Source of Data

Data Availability

In

du

stry

Stru

cture

Ministry of Statistics and

Programme Implementation

(MOSPI), Economic Survey of

India, Census, etc.

NA

Copyright © 2015 ValueNotes Database Pvt. Ltd. All rights reserved. www.valuenotes .biz 2015

Government

Bodies

Primary

Research

Trade Interviews

Completeness

Quality

Recency

Macro

Data

Micro

Data

Faucets IndustryValueNotes India Market Intelligence Dashboard

National Council of Applied Economic

Research (NCAER), IBEF, Euro

Monitor, World Bank, Company

Websites, Projects Today, News

Articles, National Association of Software

and Services Companies (NASSCOM), etc.

Market Size And Growth

Industry Segmentation

The faucets industry in India is currently valued at INR 50bn in FY 2014 and has been growing at a CAGR 15% forthe last three years

The industry is expected to grow at a CAGR of ~16% in the next five years, mainly due to growing real estateindustry and rapid urbanization

ValueNotes estimates that the industry will be worth approximately INR 105bn by FY 2019

Bathroom faucets is the most dominant category contributing to ~80% of the total faucet sales

Residential sector is the biggest consumer of faucets, with xx% share in the overall faucets market

Tier I and tier II cities, together account for xx% of the total faucets sales (by value) in India

Key Players

Around 48% of the faucets industry is currently organized with Jaquar & Company, Grohe India, Ess Ess, HSIL, andKohler India being the market leaders. The market share of organized players is expected to grow in the next fiveyears due to growing brand awareness among the consumers, customers shifting to high end faucets, andupgraded production capacities by the players

9

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The faucets industry in India has been given an Industry Attractiveness Rating of 7.2 as per the ‘ValueNotes Industry Attractiveness Rating Evaluation System’

Drivers and Challenges

Drivers:

Growing real estate industry including residential, commercial and hospitality sectors, increasing disposableincome, steady rise in urbanization and recently launched government’s initiative- “Swachh Bharat Abhiyan” areexpected to be the main drivers

Challenges:

Land acquisition issues and lack of penetration in small cities & rural India, continue to serve as the majorinhibitors to the industry

TOCMarket

OverviewAnnexure &



Industry Structure

Executive Summary




Industry Structure

Picture Courtesy: Daifuku

11

Bathroom and Kitchen Solutions

Faucets industry in India

Bathroom & Kitchen Appliances

Wellness Products

Ch

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Ind

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tru

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TilesFaucetsSanitary Ware

Plumbing fixtures, made of ceramic material or enameled metal, often found in bathrooms/toilets.

Sanitary Ware product segment majorly includes Wash Basins, Water Closets, Cisterns, Urinals and Kitchen Sinks.

A thin, flat and rectangular/square shaped slab of hard-wearing material such as ceramic, stone, metal or baked clay, laid in rows to cover walls, floors, and roofs.

A home appliance used for heating water or preparing food.

Bathroom appliances include water heater and kitchen appliances include built- in chimneys/hoods, hobs & cook-tops, ovens, dish washers and cooking range.

A product that makes customers relax and live a healthy lifestyle.

Wellness product segment includes bath tubs (standard, whirlpool, Jacuzzi), Bathroom cubicles (shower rooms, steam cabin and spa), shower panels, etc.

A device/fitting used to draw and control the flow of liquid, especially from a pipe, by opening and closing an orifice.

Faucets can further be segmented into:- Bathroom faucets- Kitchen faucets

TOCMarket

OverviewAnnexure &



Industry Structure

Executive Summary




12

Late 1980s

The faucet segment of plumbing utilities

has existed in India since ancient times

Over a period of time, it has evolved from

being a simple hand pump to a single lever

tap

During the late 1980s, the faucets industry

was in a nascent and highly unorganized

stage, with barely 15% being organized

Until 1990, there were as few as 20-30

faucet companies selling their products in

the Indian market

2000 – 2010

Post 2000 witnessed the entrance of many big

overseas as well as domestic companies such

as Roca, Moen India, Kohler India, HSIL Ltd.

and Ess Ess Bathroom Products Pvt. Ltd.

Faucets evolved in India from being perceived

as a basic functional product to a fashion and

style statement

Because of the presence of foreign brands and

their continuous innovations, the latter part of

the decade witnessed growing brand

awareness among consumers

Current situation (2011 onwards)

Several domestic and multinational

companies have set up faucet manufacturing

units in the country and are upgrading their

production capacities and processes

The companies are focusing on innovative

technologies to manufacture ergonomically

convenient designs

With the changing trends and

lifestyle, consumers have shifted their

preference to high-end faucets

The industry is doing well in metros and tier I

cities, while penetration in small cities is still

low

Ch

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: Evo

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fau

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ind

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Ind

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Faucets have emerged as a style statement for consumers

TOCMarket

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Executive Summary




13

This report covers:

• Various types of bathroom and kitchen faucets made of

metals and alloys such as brass, aluminium, stainless

steel, copper, etc.

This report does not cover:

• Plastic faucets, majorly used in small tier III cities and rural

areas

• Sanitary ware, wellness products, tiles, bathroom and

kitchen appliances

Ch

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Def

init

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Definition of ‘faucets’ as per the scope of this report

A faucet is a plumbing fitting that is used to draw and regulate the flow of liquid, especially from a pipe. It is used by opening and closing an orifice.

Faucets can also be termed as taps.

On the basis of application, faucets can further be categorized into:

Bathroom faucets: These are the faucets integrated with bathroom fixtures like wash basins, water closets and bath tubs. Bathroom faucets also

comprise shower and bath faucets

Kitchen faucet: It is a type of faucet allied to kitchen sink which is primarily used for washing utensils and raw food

TOCMarket

OverviewAnnexure &



Industry Structure

Executive Summary




14

Ch

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Supply channel for faucets

Consumption ZoneIntermediaries

Distributors (Acting as Carry

& Forward Agents)

Area Dealers

Suppliers

Manufacturers

Imports

Exports

Local Retailers

Channel followed by unorganized players only

TOCMarket

OverviewAnnexure &



Industry Structure

Executive Summary



The chart below depicts the typical supply chain of the faucets industry in India. The participants and their roles are described in the diagram below:

Chart 1: Supply-chain in the Indian faucets industry

Institutional Sales


15

Ch

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: In

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Su

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xxx

xxx

xxx

xxx

To avoid channel conflicts, organized players follow fixed format to supply faucets to the customers

Retail Channel

Institutional Sales

xxx

xxx

TOCMarket

OverviewAnnexure &



Industry Structure

Executive Summary




Industry Overview

xxxx

xxxx

xx

xx

xx

xx

xx

xxxx

xx

xx

xx

xx

xx

xx

xx

xx

FY 2011 FY 2012 FY 2013 FY 2014 FY 2015 FY 2016 FY 2017 FY 2018 FY 2019

Optimistic Pessimistic Most Likely

Usage of “Three point analysis” to arrive at realistic growth figures:- Optimistic: Maximum growth that can be anticipated, provided all

the factors* contributing to growth occur as expected- Pessimistic: Least growth, provided growth factors are either

delayed or not implemented in the given time frame- Most Likely: This is the optimized growth which has high probability

of taking place

17

Chart 2: Market size and growth of the faucets industry in India FY 2011-19 (INR bn)

The estimated growth of ‘faucets industry’ is based on various factors* including:

- xxx- xxx- xxx- xxx- xxx- xxx

Source: Trade interviews, ValueNotes analysis

Current market

Estimated growth

Ch

apte

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: Mar

ket

Size

& G

row

th

xxx

xxx


Faucets industry is expected to grow at ~16% CAGR till FY 2019

CAGR xx%

CAGR xx%

CAGR xx%

CAGR xx%

TOCMarket

OverviewAnnexure &



Industry Structure

Executive Summary




Bathroom Faucets, 80%

Kitchen Faucets, 20%

Bathroom Faucets

18

Source: Trade interviews, ValueNotes research

Ch

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Cat

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Chart 3: Faucets industry in India segmented by product category for FY 2014 (by value)

Bathroom faucets segment is expected to grow faster than kitchen faucets segment till FY 2019

xxx

xxx

xxx

"Earlier bathroom was outside the home, then it became apart of the home and now the bathroom has become ahappening place.”

- Rajesh Mehra | Director & Promoter, Jaquar in an interview with The Economic Times

Kitchen Faucets

xxx

xxx

TOCMarket

OverviewAnnexure &



Industry Structure

Executive Summary




Bathing Area Faucets,

xx%

Kitchen Faucets,

xx%

WC Faucets,xx%

Basin Faucets,xx%

“Bathrooms are increasingly getting digitalized wherepeople are keen on having more gadgets in their batharea.”

- Renu Misra | Managing Director, Grohe India in an interview with The Times of India

19

Source: Trade interviews, ValueNotes research

Ch

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Chart 4: Faucets industry in India segmented by products for FY 2014 (by value)

Bathing area faucets will continue to be the largest contributor to the faucets market for the next five years

xxx

xxx

xxx

TOCMarket

OverviewAnnexure &



Industry Structure

Executive Summary



* Bathing area faucets include bath faucets, shower faucets andshower programme (hand-showers, shower-heads, shower jets)

* WC = Water Closets


Annexure & Appendix

xx

xx

xx xx xxxx xx

xx

xx xxxx

xxxx

xxxx xx xx xx xx

xx xx

21

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: Re

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in In

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In FY 2015, xxx real estate construction projects are under different stages of implementation in India

Chart 31: Real estate construction projects in FY 2015 by state

Source: Projects Today, ValueNotes analysis

Indian construction market is the fourth largest sector in the country in terms of FDI inflows

Currently, over xx real estate construction projects , including xx hotels and restaurants , are under different stages of implementation in India.

Different implementation stages comprise nascent, planning, under execution and partially completed

Maharashtra has the highest number of real estate projects including xx new hotels & restaurants in the state

The Real Estate (Regulation and Development) Bill, 2013, approved by the Union Cabinet is an initiative aimed at delivering an uniform

regulatory environment to protect the consumer, help in quick verdicts of disputes and ensure systematic growth of the sector

TOCMarket

OverviewAnnexure &

AppendixIndustry Analysis

Profiles of key players

Industry Structure

Executive Summary


Industry Trends


* Real estate includes housing sector, commercial sector and hotels & restaurants


22

Ch

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: In

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ase

in U

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izat

ion

Chart 32: Increase in urbanization over years

Source: Census data, Euro Monitor, ValueNotes analysis

The extent of urbanization in India is much lower than other developing countries; but it will be amongst the fastest growing urban populations

globally between 2013 and 2020 in absolute terms

Urbanization in the country has increased from 27.81% in 2001 census to 31.16% in 2011 census

Two of India's metropolitan cities feature in the world's largest urban population by city. Mumbai is the most populated city in India and had

the fourth largest urban population by city in 2012 at 12.5mn people, while Delhi had the eighth largest urban population by city at 11.1mn

people

By 2030, India's urban population is estimated to reach 631mn, an increase of 2.6% per year over the 2013-2030 period compared to the 1.1%

annual rise expected in the total population. The urban population will account for 41.8% of the total population by 2030

11%

89%

Urban Rural

Census 1901

17%

83%

Urban Rural

31%

69%

Urban Rural

India is witnessing rapid growth in urbanization

Census 1951 Census 2011

TOCMarket

OverviewAnnexure &

AppendixIndustry Analysis

Profiles of key players

Industry Structure

Executive Summary


Industry Trends



ValueNotes is a full-service market and business research firm. Since 2000, we have helped customers, in India and around the globe, make

better business decisions by providing actionable intelligence. Our customized research solutions, by way of projects and continuing

engagements, have helped serve specific business needs - market entry strategy, choice of location, partner selection, competitive

intelligence, investment appraisal, due diligence, and customer need analysis.

Over the years, ValueNotes has developed considerable domain knowledge in a variety of sectors and industries. More important, we understand

how to develop and deploy appropriate research methodologies best suited for diverse markets. We've developed proprietary research methods

to deal with unorganized, information-scarce markets; and analytical techniques to triangulate, validate and correlate incomplete or unrelated

information

23

ValueNotes Approach

Government Websites & Publications

Industry Intelligence

Industry Associations Publications

& News Releases

Press Releases &

Publications by Industry

Players

Industry Reports/

Trade Publications

Trade interviews

ValueNotes carries out industry studies designed around optimal use of

secondary (desk) research techniques to gain maximum intelligence with

specific insights and information. The steps carried out for “Bottled Water

Industry in India” are as follows:

Secondary research: Intensive secondary research sources

include, but are not limited to,

• Print and online business publications

• Analyst reports

• Press releases

• Trade publications

Primary research: Interviews with key industry players, industry

analysts and experts

Industry intelligence and market analysis: Triangulation method

is adopted to validate data points from the supply side, demand

side, industry reports and trade publications

About ValueNotes

Research Methodology Applied

TOCMarket

OverviewAnnexure &



Industry Structure

Executive Summary




Ap

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Re

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Ap

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Ab

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Bib

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Abbreviations

USD US Dollar

INR Indian Rupee

bn billion

mn million

cr crore

FY Financial Year

CAGR Compounded Annual Growth Rate

sq square

p.a per annum

MOSPI Ministry of Statistics and Programme Implementation

NCAER National Council of Applied Economic Research

IBEF Indian Brand Equity Foundation

NASSCOM National Association of Software and Services Companies

NHB National Housing Bank

HFCs Housing Finance Companies

WC Water Closets

FDI Foreign Direct Investment

MNCs Multinational Corporations

IT Information Technology

WELS Water Efficiency Labelling and Standards

WEP-I Water Efficient Products- India

MOSPI

Economic Survey of India

NCAER

IBEF

McKinsey Global Institute

World Bank

Euro Monitor

NASSCOM

Census

Projectstoday.com

Annual reports

Key players’ websites

Business Today

The Free Press Journal

The Economic Times

The Times of India

The Hindu Business Line

Online selling portals such as Snapdeal

Cushman & Wakefield Research

Bibliography

ValueNotes conducted secondary research to obtain information on faucets industry in

India and referred to following sources:

TOCMarket

OverviewAnnexure &



Industry Structure

Executive Summary





As a research analyst at ValueNotes, Mohita Gupta has worked on multiple opportunityassessment, market sizing and competitive intelligence projects in different verticals suchas consumer durables, mining, power, cement and FMCG. Her projects also include duediligence and industry tracking. She has completed her MBA (Finance) from SadhanaCentre for Management & Leadership Development (SCMLD), Pune and Bachelor's ofBusiness Administration (BBA) from Banasthali University, Rajasthan.

www.indianotes.comIndian Markets

www.sourcingnotes.comOutsourcing Intelligence

www.valuenotes.bizResearch & Consulting

ValueNotes Database Pvt Ltd1 Bhuvaneshwar Society, Abhimanshree Road Pashan, Pune 411 008, Maharashtra, India

Other Industry Reports by ValueNotes:

1. Home water purifier industry in India

2. Heat and eat industry in India

3. Chocolate industry in India

Disclaimer: This short industry report is published for general information only. Although high standards have been used in the preparation, ValueNotes is not responsible for any loss or damage arising from use of this report. The information contained herein is from publicly available data or other sources believed to be reliable. While we would endeavor to update the information herein on reasonable basis, ValueNotes is under no obligation to update or keep the information current. This report is the sole property of ValueNotes and must not be copied, either in whole or in part, or distributed or redistributed to any other person in any form.

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