The latest market report published by Credence Research, Inc. “Bathroom Cabinets Market, By Material Type, Application and Region – Growth, Future Prospects and Competitive Analysis, 2016 – 2024,” the global bathroom cabinets market was valued at US$ 7,031.7 Mn in 2017, and is expected to each US$ 13,283.2 Mn by 2025, expanding at a CAGR of 7.5% from 2017 to 2025.
Browse the full Bathroom Cabinets Market – Growth, Future Prospects and Competitive Analysis, 2017 – 2025 report at http://www.credenceresearch.com/report/bathroom-cabinets-market
The global bathroom cabinets market is experiencing growth as surge in home building activity drives new bathroom furniture installations and a remodeling and renovations sector boosts demand for significant interior makeovers. There is a rise in the consumer preference for functional bathroom with modern amenities, making the homemakers provide luxurious bathroom furniture and other amenities at home. Moreover, overall bathroom product market sales have increased substantially over the past decade, mostly boosted by the rising average spending on bathroom renovations and remodeling. Furthermore, the manufacturers are coming up with the option of customized designing by various styles and patterns of bathroom cabinets of different materials that would give a modular look to the bathroom.
With the increase in premium quality products incorporated in the bathroom renovation, and quality of the furniture and material used, the cost increases. Product innovations by the manufacturers are leading to the rise in the cost of the products. Due to this reason many consumers opt for local suppliers which offer the product in low price, however, the quality of the product is hampered. This is acting as the restrain to the global bathroom cabinets market.
The market is moderately fragmented owing to presence of numerous players. To maintain their market position manufacturers compete on design and quality. Brand image also plays a vital role in bathroom cabinets market. Some of the major players present in this market are Annwa ceramic sanitaryware Co., Ltd, ARROW Electronics, Inc., Kohler Co., MASCO Corp, and Faenza Ceramics Co., Ltd.
– Rising demand from business construction and housing developments
– New product launches
– Increasing consumer spending on innovative bathroom products