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According to a new report, published by KBV research, The Global Bathroom Cabinets Market size is expected to reach $97.5 billion by 2028, rising at a market growth of 6.2% CAGR during the forecast period.
The Without Mirror segment is showcasing a CAGR of 7.1% during (2022 - 2028). This is due to the continuously increasing demand for multi-purpose bathroom cabinets. In addition, the construction activities of residential as well as commercial activities have increased, which has further raised the need for contemporary furniture. This would contribute to the market expansion of bathroom cabinets in this segment.
The Single Door segment acquired maximum revenue share in the Global Bathroom Cabinets Market by Product in 2021 thereby, achieving a market value of $56 billion by 2028. The cabinets with single doors are the perfect choice for any bathroom, irrespective of their size and structure. In addition, the cabinets could be installed in any accessible area of the bathroom. The demand for this type of cabinet is growing in the market to get the delicate look to the bathroom, along with eliminating the need to spend time organizing stuff on different shelves.
The Commercial segment has shown the growth rate of 7.6% during (2022 - 2028). This is because of the increase in standardization of the architectural & infrastructural industry. In addition, as a result of the growing number of hotels, gyms, restaurants, and other such commercial spaces, the demand for the delicate interior is growing. The businesses in such sectors consider it crucial to have an interior that attracts and influences visitors to their spaces. Thus, they are spending large sums on items such as bathroom cabinets.
The Wood segment is generating highest revenue share in the Global Bathroom Cabinets Market by Material in 2021 thereby, achieving a market value of $52.5 billion by 2028. The demand for modern bathroom interiors with delicate designs is a crucial reason for the expansion of wooden furniture. Additionally, the need for innovative furniture is rising due to the growth of businesses offering renovation services within a specific timeframe and price range. This further raises the demand for attractive wooden cabinets to give an aesthetic look to furniture.
The Asia Pacific market dominated the Global Bathroom Cabinets Market by Region in 2021, and would continue to be a dominant market till 2028; thereby, achieving a market value of $35.9 billion by 2028. The Europe market is exhibiting a CAGR of 5.9% during (2022 - 2028). Additionally, The North America market would display a CAGR of 5.5% during (2022 - 2028).
The market research report has exhaustive quantitative insights providing a clear picture of the market potential in various segments across the globe with country wise analysis in each discussed region. The key impacting factors of the market have been discussed in the report with the elaborated company profiles of Geberit AG (Doughty Hanso), Roca Sanitario, SA (Roca Corporacion Empresarial, SA), Nilkamal Limited, Duravit AG, EMCO Limited, HiB, Ltd., Roper Rhodes Ltd (Svedbergs Group), Fab Glass and Mirror LLC, and W. Schneider+Co AG.