Bathroom Vanities Market Key Drivers, Challenges, Opportunity and Investment Potential 2019-2025

[24 May, 2019] 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.

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.

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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.

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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Table of Contents:

Chapter 1 Methodology and Scope
1.1 Information Procurement
1.2 Purchased Database
1.2.1 GVR's internal database
1.3 Research Methodology
1.4 Geographic Scope & Assumptions
1.5 Region-/Country-wise Market Calculation
1.5.1 region-/country-wise market: Base estimates
1.5.2 region-/country-wise market: CAGR calculation
1.6 Region-based Segment Share Calculation
1.7 List of Primary Sources
1.8 List of Secondary Sources
1.9 List of Abbreviations

Chapter 2 Executive Summary

Chapter 3 Market Definitions
3.1 Market Segmentation

Chapter 4 Industry Outlook
4.1 Market Snapshot
4.2 Global Bathroom Vanities Market Trends
4.3 Global Bathroom Vanities Market
4.3.1 product segment trends
4.3.2 application segment trends

Continued...

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