According to a report,“Bathroom Vanities Market Size, Share & Trends Analysis Report By Material (Stone, Ceramic, Wood), By Application (Residential, Non-residential), By Size, And Segment Forecasts, 2019 – 2025”, published by Grand View Research, Inc., The global bathroom vanities market size is expected to reach USD 11.2 billion by 2025, 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.
Key Takeaways from the report:
-
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.
Browse More Reports in Advanced Interior Materials:
- Chromium Market: Increasing demand from the stainless steel industry has been a key factor driving market growth globally. Robust growth of various end-use industries in Asia Pacific is fueling stainless steel demand and, in turn, demand for chromium.
- Automotive Interior Materials Market: The automotive interior materials market is projected to witness a high growth rate owing to increase in demand for lightweight passenger vehicles.
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.
Grand View Research has segmented the global bathroom vanities market on the basis of application, material, size, and region:
Bathroom Vanities Application Outlook (Revenue, USD Million, 2015 – 2025)
-
Residential
-
Non-residential
Bathroom Vanities Material Outlook (Revenue, USD Million, 2015 – 2025)
-
Stone
-
Ceramic
-
Glass
-
Wood
-
Metal
Bathroom Vanities Size Outlook (Revenue, USD Million, 2015 – 2025)
-
24 – 35 inch
-
38 – 47 inch
-
48 – 60 inch
Bathroom Vanities Regional Outlook (Revenue, USD Million, 2015 – 2025)
-
North America
-
U.S.
-
Canada
-
-
Europe
-
Germany
-
U.K.
-
-
Asia Pacific
-
China
-
India
-
Japan
-
-
Latin America
-
Brazil
-
Mexico
-
-
Middle East & Africa
Explore the BI enabled intuitive market research database, Navigate with Grand View Compass, by Grand View Research, Inc.
About Grand View Research
Grand View Research provides syndicated as well as customized research reports and consulting services on 46 industries across 25 major countries worldwide. This U.S.-based market research and consulting company is registered in California and headquartered in San Francisco. Comprising over 425 analysts and consultants, the company adds 1200+ market research reports to its extensive database each year. Supported by an interactive market intelligence platform, the team at Grand View Research guides Fortune 500 companies and prominent academic institutes in comprehending the global and regional business environment and carefully identifying future opportunities.
For more information: www.grandviewresearch.com
Media Contact
Company Name: Grand View Research, Inc.
Contact Person: Sherry James, Corporate Sales Specialist – U.S.A.
Email: Send Email
Phone: 1-415-349-0058, Toll Free: 1-888-202-9519
Address:201, Spear Street, 1100
City: San Francisco
State: California
Country: United States
Website: www.grandviewresearch.com/industry-analysis/global-bathroom-vanities-market