The global bathroom cabinets market is anticipated to reach USD 12906.32 Mn by 2030, at a CAGR of 6.1% during the forecast period of 2023 to 2030.
Bathroom cabinets has undergone substantial design and technological advancement over the past few decades resulting in impressive styling and remodeling demand. It was over a decade ago when trend watchers started noticing the first stirrings of the inclusion of furniture in the bathroom. Today, this is a standard practice, with a wide variety of beautiful and durable furniture in the market, made specifically for bathroom applications.
Custom Requirement in Upcoming Projects Coercing Demand
The global bathroom cabinets market is experiencing a moderate growth due to rising housing development projects, which demands high end household amenities. Surge in demand for customized countertop materials such as engineered stone, lava stone, granite, marble, etc. owing to wide range of pattern, price affordability and accountability of these products in bathroom application is expected to spur market growth through the forecast period. However, premium pricing of high quality products, high design cost and is expected to hinder bathroom vanities market growth over the forecast period. This report covers all such qualitative and quantitative aspects of the bathroom cabinet market and also analyzes the impact of key drivers, restraints, challenges, opportunities on the market growth.
Residential Applications & Wooden Cabinets Dominating Market Revenues
On the basis of material type, the global bathroom cabinets market is segmented into wood, ceramics, metal, glass and stone material. In terms of revenue contribution, wood segment accounted for major share of bathroom cabinet market. It accounted for 41.95% market share in 2021. There are various types of woods such as MDF, plywood, or chipboard, etc. used for construction of bathroom cabinet. Availability of improved quality MDF (Medium-Density Fibreboard) is expected to boost the demand for wooden cabinets in near future. In terms of revenue contribution among applicaton areas, residential appication accounted for major share of bathroom cabinet market.
Developing Economies Remain As Key Destination
In 2021, Asia Pacific was observed as the largest market for bathroom cabinet. This growth is attributed to the growing demand from developing economies such as China and India due to surging real-estate industry and developing infrastructure facilities in these countries. Asia Pacific region contributed to 36.22% revenue share in 2021. The region is anticipated to witness highest growth rate of 6.4% over the forecast period. North America was the second largest region in global bathroom cabinets market accounting for revenue share of 26.06% in 2021.
Government Initiatives to Set Off Covid Impact
Direct commercial real estate market fell by 29 percent globally to approximately US $ 320 billion in the first half on 2021. The key reason of the fall included travel lockdown that influenced cross border investments. Therefore, short term capital deployment plans have been postponed or cancelled. However, in countries such as Japan, Germany and South Korea the situation remained positive. Japan registered a growth of 7% in terms of YoY investment. Germany evidenced a drop just about 1%, while South Korea slide by 15%, it still was better than the long term first half year average. Increasing government initiatives is expected to drive the market. Many countries such as India have offered economic packages, increase in timeline for completion of construction projects, reverse repo cuts etc have benefitted the real estate company.
Key Players
The key players include Annwa ceramic sanitaryware Co., Ltd, ARROW Electronics, Inc, Euro-Rite Cabinets Ltd, Faenza Ceramics Co., Ltd, Jomoo Group Co., Ltd, Kohler Co, MASCO Corp, Masterbrand cabinet, Inc, SHKL Group Limited and Twin- Star International Inc.
Historical & Forecast Period
This study report represents analysis of each segment from 2022 to 2032 considering 2023 as the base year. Compounded Annual Growth Rate (CAGR) for each of the respective segments estimated for the forecast period of 2024 to 2032.
The current report comprises of quantitative market estimations for each micro market for every geographical region and qualitative market analysis such as micro and macro environment analysis, market trends, competitive intelligence, segment analysis, porters five force model, top winning strategies, top investment markets, emerging trends and technological analysis, case studies, strategic conclusions and recommendations and other key market insights.
Research Methodology
The complete research study was conducted in three phases, namely: secondary research, primary research, and expert panel review. key data point that enables the estimation of Bathroom Cabinets market are as follows:
Market forecast was performed through proprietary software that analyzes various qualitative and quantitative factors. Growth rate and CAGR were estimated through intensive secondary and primary research. Data triangulation across various data points provides accuracy across various analyzed market segments in the report. Application of both top down and bottom-up approach for validation of market estimation assures logical, methodical and mathematical consistency of the quantitative data.
| ATTRIBUTE | DETAILS |
|---|---|
| Research Period | 2022-2032 |
| Base Year | 2023 |
| Forecast Period | 2024-2032 |
| Historical Year | 2022 |
| Unit | USD Million |
| Segmentation | |
Material
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Application
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Region Segment (2022-2032; US$ Million)
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Key questions answered in this report
