The global bathroom vanities market size is expected to reach USD 11.2 billion by 2025, according to a new report by Radiant Insights, Inc., expanding at a CAGR of 5.9% over the forecast period. Growing consumer interest in specialized countertop surfaces such as engineered stone across the globe has emerged as a major factor driving the market. Constant rise in research and development activities in the household furniture industry has resulted in the development of advanced and integrated home and bathroom furniture, thereby motivating the consumers to remodel their existing furniture. Continuation of such scenarios over the forecast period is expected to positively impact the market growth.
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The residential application segment is expected to register a promising CAGR of 6.0% over the forecast period. Continous migration of people and urbanization in developing countries are the key factors boosting the demand for residential bathroom vanities. There is an increase in the demand for cabinets with value-added amenities, such as medical chests, space savers, and frameless wall-mounted vanities, providing attractive and secure storage options as compared to free-standing or open shelves.
In terms of material, wood, stone, and ceramic bathroom vanities collectively accounted for a massive share of the overall revenue in 2018. While the demand for natural stones continues to be high, there is also a notable rise in demand for bathroom vanities made from engineered stones like engineered quartz and recycled glass. Hardwood was the most widely used material for these furnities in 2018.
Asia Pacific emerged as the most prominent regional market and generated a revenue of USD 2.4 billion in 2018. North America stood as the second largest regional market in 2018 and is also expected to account for a significant share in the overall market, registering a CAGR of 5.9% over the forecast period.
Key industry participants in the market include Masco Corporation; RSI Home Products, Inc.; American Woodmark Corporation; and Kohler Co., Inc. Rise in the prominence of various residential improvement services due to their increased affordability among the middle-class population is expected to have a significant impact on the market growth. Provision of multiple financial incentives such as home loans at lower interest rates and other financial options offered by large banks in several regions, is also anticipated to induce market growth.
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Further key findings from the study suggest:
• On the basis of application, the residential segment emerged as the largest application in 2018 and is estimated to generate a revenue of USD 8.1 billion by 2025
• Wood, ceramic, and stone were the most preferable materials for bathroom vanities in 2018. The market size for wooden bathroom vanities was valued at USD 2.4 billion in 2018
• Based on the size, 24-35 inch was the most preferred segment in 2018 and is likely to expand at a CAGR of 6.1% from 2019 to 2025
• The market in Asia Pacific is projected to witness promising growth over the forecast period owing to various developments across major economies, especially in the residential construction industry
• Key players operating in the bathroom vanities market include Masco Corporation; MasterBrand Cabinets Inc.; American Woodmark Corporation; DuPont; and Foremost Groups.
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The global bathroom vanities market is witnessing substantial growth over the forecast period, as per this recent MRFR analysis.
Demand for bathroom vanities is anticipated to be driven by the rising consciousness among people regarding appearance and hygiene.
Apart from that, increased expenditure on the remodelling and retrofitting of existing bathrooms all over the globe is also expected to drive the global bathroom vanities market.Furthermore, growing urbanization, the demand for residential construction projects is expected to proliferate, further fuelling the global bathroom vanities market over the review period.
Homeowners are expected to focus on the upgradation of their bathrooms through the installation of modern amenities for aesthetic enhancements, hence driving the market.Moreover, various reforms and regulations that are introduced by the government in many countries all over the globe for raising their infrastructure and real estate industries are propelling the growth of the construction industry.
Owing to the improving standard of living of consumers in various countries and a growing inclination towards the large size and modern style of bathrooms, mainly for bathroom furniture and bathroom vanity lights, and bathroom vanity mirrors is also anticipated to drive the global bathroom vanities market.
The residential segment is expected to lead the global bathroom vanities market over the forecast period.Detailed Regional AnalysisThe bathroom vanities market is segmented into the regions of North America, Europe, Asia Pacific, and Rest of the World.
The global Bathroom Vanities market 2020-2026 report focuses on the global Bathroom Vanities status, future forecast, development opportunity, key market, and key players.
The report mainly studies the Bathroom Vanities market size, recent patterns and development status, as well as investment openings, market dynamics, and industry news.
This report moreover encloses all the regions and countries of the world, which manifests a regional development status, including market size, volume, and value, just as price information.Global Bathroom Vanities Market Research Report is an authentic outline and top to bottom study on the current and future market of the Bathroom Vanities industry.
The report speaks to a fundamental review of the Bathroom Vanities market share, competitor segment with a basic presentation of key vendors, top regions, product types, and end businesses.
This report gives a historical overview of the Bathroom Vanities market patterns, development, revenue, limit, cost structure, and key driver’s analysis.Detailed TOC along with also Charts & Tables of Bathroom Vanities Market Research Report accessible at: https://www.futuristicreports.com/request-sample/31936Key Players Mentioned at the Bathroom Vanities Market Report:Bellaterra HomeAlbemarle CountertopsMasco CabinetryAvanityCaesarstoneStudio BatheAmerican ClassicsJSG OceanaKohler CompanyWilsonart InternationalDesign ElementWater CreationVirtu USADuPontMasterBrand CabinetsEmpire IndustriesAmerican WoodmarkDesign HouseForemost Groups Applications Application 1Application 2Application 3Application 4Application 5TypesType 1Type 2Type 3Type 4Type 5Regional Or Country Level Customization : https://www.futuristicreports.com/customize-request/31936Bathroom Vanities Market: Regional analysis includes:Asia-Pacific (Vietnam, China, Malaysia, Japan, Philippines, Korea, Thailand, India, Indonesia, and Australia)Europe (Turkey, Germany, Russia UK, Italy, France, etc.
)North America (the United States, Mexico, and Canada.
