Bathroom Vanities Market Size Worth $46.03Bn, Globally, by 2028 at 3.6% CAGR - Exclusive Report by The Insight Partners
The bathroom vanities market size is projected to reach $46.03 Bn by 2028 from $36.04 Bn in 2021; it is expected to grow at a CAGR of 3.6% from 2021 to 2028
NEW YORK, Feb. 25, 2022 /PRNewswire/ -- The Insight Partners published latest research study on "Bathroom Vanities MarketForecast to 2028 - COVID-19 Impact and Global Analysis By Material (Stone, Ceramic, Glass, Wood, and Metal) and Application (Residential and Commercial)". The bathroom vanities market growth is driven by the increasing rate of housing completions in developed regions, rising online retailing of bathroom vanities and increase in construction activities.
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Report Coverage | Details |
Market Size Value in | US$ 36,047.21 Million in 2021 |
Market Size Value by | US$ 46,038.15 Million by 2028 |
Growth rate | CAGR of 3.6% from 2021 to 2028 |
Forecast Period | 2021-2028 |
Base Year | 2021 |
No. of Pages | 136 |
No. Tables | 56 |
No. of Charts & Figures | 71 |
Historical data available | Yes |
Segments covered | Material, and Application |
Regional scope | North America; Europe; Asia Pacific; Latin America; MEA |
Country scope | US, UK, Canada, Germany, France, Italy, Australia, Russia, China, Japan, South Korea, Saudi Arabia, Brazil, Argentina |
Report coverage | Revenue forecast, company ranking, competitive landscape, growth factors, and trends |
Bathroom Vanities Market: Competitive Landscape
The key players operating in the bathroom vanities market include Avanity Corporation; Bellaterra Home, LLC.; Caesarstone.; Foremost Groups, Inc.; Kohler Co.; MasterBrand Cabinets Inc; Roca Sanitario S.A; Wilsonart LLC.; Dupont Plumbing Supplies; and Inter IKEA Systems B.V.
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In 2020, Europe held the largest share of the global bathroom vanities market. The region has witnessed a robust demand for aesthetic appeal in the interiors of residential buildings. There is an increased demand for the latest bath décors. Moreover, the rising number of construction and remodeling projects in the region is driving the bathroom vanities market.
Rising Online Retailing of Bathroom Vanities:
Online purchasing is being increasingly preferred to traditional buying due to factors such as convenience and mass reach. The entire buying process completes over the online portal without any physical effort or travel, saving time and enriching buying experience. The increasing penetration of the internet has allowed access to online platforms to many users. Various manufacturers of bathroom vanities have their own online retailing platforms. They are also using third-party online platforms to reach mass customers. With the growing e-commerce industry, bathroom vanity products' revenue is also increasing as they have significant revenue sharing in e-commerce retailing. Thus, the growing e-commerce industry is driving the revenue of the bathroom vanities market globally.
Bathroom Vanities Market: Segmental Overview
Based on material, the bathroom vanities market is segmented into stone, ceramic, glass, wood, and metal. The wood segment held the largest share of the bathroom vanities market in 2020. It is the most common type of material used for bathroom vanity manufacturing.
Based on application, the bathroom vanities market has been segmented into residential and commercial. The residential bathroom vanities segment held the larger share of the bathroom vanities market in 2020. Rapid urbanization in developing economies and an increased rate of housing completions in developed regions are driving the segment.
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Impact of COVID-19 Pandemic on Bathroom Vanities Market:
The construction industry was severely impacted due to the COVID-19 pandemic. The lockdowns and the travel restrictions implemented by various governments caused disruptions in the global supply chain. The decline in the construction industry impacted the bathroom vanities market. The growth of the bathroom vanities market was hampered due to the severe effects on commercial construction activities globally. However, with the COVID-19 cases on the decline and reopening of the business activities, the bathroom vanities market is witnessing steady growth.
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SOURCE The Insight Partners
