Market Overview
The international market for bathroom vanities has been evidencing noteworthy growth in past few years. It is expected to mark a significant growth at a CAGR of around 4.5% in between the forecasted period of 2025. Through the process, the market size is expected to cross USD 6.5 billion. There are many factors touted to be the prominent ones behind the significant boost. To be specific, the growing hygiene consciousness is said to be the prime factor contributing to the growth of the market.
As the number of housing projects has significantly grown in recent past, the demand for bathroom vanities is obvious to be significant. To be specific, it is going to be most promising among the residential sectors. In concurrence, the rise in remodeling projects is also one of the prime factors behind the growth of market opportunities. Through the course of rising urbanization, the market prospect is expected to remain incredible in forthcoming years, especially powered by the residential projects.
Obviously, residential sectors are contributing the most towards the growth of global bathroom vanities market. At the same time, reforms introduced by the administrators of prominent states and nations around the globe also promise a lot towards the establishment of the industry. The advancing technologies in construction industry are also one of the prime reasons behind the incredible market prospects of bathroom vanities market. There is quite a clear indication of the growth as the demand for bathroom furniture, lights, and other decorative accessories are already at the peak.
Segmentation
The international bathroom vanities market is primarily segmented based on the basis of material and application. Further segmenting on the basis of material, the international market can be divided classified into glass, ceramic, stone, wood, and metal. Among these, the wood segment certainly accounts for the highest market share in the international market, mainly due to its characteristics greater level of endurance and being thoroughly recyclable. In terms of application, the international market is further segmented into residential and non-residential. From a regional perspective, the international bathroom vanities market is segmented into North America, Europe, Asia-Pacific, and the rest of the world. The Asia Pacific is the most prominent among these.
Regional Analysis
From a regional perspective, the international bathroom vanities market is segmented into North America, Europe, Asia-Pacific, and the rest of the world. Asia-Pacific is indeed the most prominent of all these, currently dominating the international market of bathroom vanities.
North America certainly comes next to the Asia Pacific in this segment of bathroom vanities. To be specific, the United States and Canada are the leading players of the United States. Among the Asian market, nations like China and India contribute the most towards the growth in the bathroom vanities market. The European market is mainly dominated by the UK and Germany, which is expected to remain the same during forecasted year.
Key Players
Bathroom vanities industry include Wilsonart LLC. (US), Virtu USA (US), MasterBrand Cabinets Inc. (US), Empire Industries Inc. (US), Masco Corporation (US), American Woodmark Corporation (US), Water Creation, Inc. (US), Kohler Co. (US), JSG OCEANA (US), and Foremost Groups, Inc. (US).
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