The bathroom vanity is a piece of furniture, which is designed to store all the products in one storage space. Vanities come in different sizes and styles and serve as a wonderful decorative item in a bathroom, similar to any other furniture. The global bathroom vanities market is expected to witness sustainable growth during the forecast period owing to the growing construction industry and the rising standard of living of consumers. Growing demand for functional bathrooms may push the installation of specialized countertops, incorporated with the sinks. Moreover, increase in reconstruction and remodeling of houses, due to change in the preference of consumers are the other factors that drive the market for bathroom vanities.
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Asia-Pacific is expected to witness moderate growth in the global bathroom vanities market during the forecast period: MRFR
On the basis of region, the global bathroom vanities market has been segmented into North America, Europe, Asia-Pacific, and the rest of the world. Asia-Pacific dominated the global market, followed by North America, primarily due to increasing hygiene consciousness and growing preference for modern amenities, mainly in China and India. Moreover, the construction industry in Asia-Pacific is also growing due to the growth in the number of construction projects, which drive the bathroom vanities market in the region.
North America has witnessed significant growth in the construction industry, owing to the increased home improvement and renovation projects in the region. According to the US Census Bureau, the total annual value of private construction in the US is USD 992,528 million in 2018, USD 539,800 million of which is for residential construction. The high growth in the construction industry in the North America, drives the North America bathroom vanities market during the forecast period. Moreover, the US is home for the key companies operating in the market such as Wilsonart LLC, Virtu USA, MasterBrand Cabinets Inc., Water Creation, Inc., and Kohler Co. (US).
The Global Bathroom Vanities Market is expected to witness ~4.5% CAGR during the forecast period and is expected to be valued at ~USD 6.5 billion by the end of the forecast period.
The wood segment is set to occupy a large share of the global bathroom vanities market: MRFR
On the basis of material, the global market has been segmented as glass, ceramic, stone, wood, and metal. The wood segment is expected to witness high growth during the forecast period. Wood are the prefered materials for bathroom vanities due to their durability and various other advantages associated with them.
On the basis of application, the global bathroom vanities market is segmented as residential and non-residential. The residential segment is expected to witness moderate growth rate during the forecast period. The growth of the construction industry and the increased home improvement and renovation projects, have raised the need for bathroom vanities during the forecast period.
The prominent players in the global bathroom vanities market are Wilsonart LLC. (US), Virtu USA (US), MasterBrand Cabinets Inc. (US), DuPont de Nemours, Inc. (US), Masco Corporation (US), STRASSER WOODENWORKS (US), American Woodmark Corporation (US), Water Creation, Inc. (US), Kohler Co. (US), and Foremost Groups, Inc. (US).
Utopia Furniture Ltd (UK), Empire Industries Inc. (US), JSG OCEANA (US), Cabinetsmith (Canada), and Hangzhou Fame Industry CO., ltd. (China) are some other key players operating in the global bathroom vanities market.
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