Online Sales Channel is expected to Register Significant Growth in Bathroom Mirror Cabinets Market till 2027
According to TechSci Research report Bathroom Mirror Cabinets Market–Global Industry Size, Share, Trends, Opportunity, and Forecast. 2017–2027″, the bathroom mirror cabinets market is expected to register robust growth during the forecast period, 2022-2027. Most frequently used as a makeshift medicine cabinet, a bathroom cabinet holds toiletries, hygiene items, and occasionally even prescriptions. Typically, bathroom cabinets are positioned over toilets, over sinks, or beneath sinks. Many mirror cabinets come with an integrated lamp that illuminates the mirror and, in turn, the space (particularly in tiny bathrooms). To enable the use of products such as an electric shaver or hairdryer, bathroom cabinets frequently either include an inbuilt electrical outlet or are situated next to one. Modern stores provide bathroom cabinets with amenities such as Bluetooth music, mood lighting, and anti-fog technology, demonstrating how much bathroom cabinets have grown technologically.
The rising demand for concept bathrooms and the burgeoning real estate sector are the two main factors driving the global market for bathroom mirror cabinets. The market expansion has also been fuelled by the rising demand for visually pleasing interior décor owing to changing consumer lifestyle choices, rising disposable income, and fast urbanization. For instance, the average expenditure on bathroom interior renovations in the U.K. was 4,000 Euros in 2018. In the U.S., the average expenditure on guest/other bathrooms was USD 3,500; for the master bedroom, it was USD 8,000 in the same year.
Home renovation initiatives are becoming more common throughout nations, reshaping market expansion. Instead of purchasing new homes, customers are increasingly choosing to engage in home repair or improvement projects due to growing housing costs. The number of properties with negative equity decreased as a result of the U.S. economy’s steady growth between mid-2009 and 2019, which was accompanied by growing property values and low unemployment.
Worldwide customers’ interest in bathroom vanity has increased significantly in the past few years. Owing to the rapid rise in house construction projects, the Home Improvement Research Institute (HIRI) predicted that Americans will spend USD 439.9 billion on home improvements in 2020, an increase of 8.7%. Additionally, homeowners are spending money on improvements that improve their quality of life rather than just basic upkeep. Owing to this, the market is expected to register a high CAGR during the forecast period.
Asia-Pacific has the largest market share and is expected to continue to dominate during the forecast period. Rising urbanization and population is the primary factor because Asia-Pacific is the leading market segment.
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The global bathroom mirror cabinets market is segmented into material, type, and sales channel. Based on material, the market is segmented into steel and polymer. Based on type, the market is segmented into single-door and multi-door. Based on sales channel, the market is segmented into offline and online channels.
Based on type, the market is segmented into single-door and multi-door. The single-door category made up around one-third of the market in 2018 and is expected to expand at a very high CAGR throughout the forecast period.
Based on sales channels, the market is divided into offline channels and online channels.Online sales channels are expected to witness significant growth during the forecast period, since online sales have become more popular, and nowadays, customers are more interested in purchasing things online.
A list of major market players in the global bathroom mirror cabinets market: –
- Bellaterra Home LLC
- Duravit AG
- Emco Bad GmbH
- FAB Glass and Mirrors
- Foshan Sin
- Hardware Products Co Ltd
- Geberit AG
- HiB Ltd.
- Laufen Bathrooms AG
- Roca Sanitario S.A
- Roper Rhodes Ltd.
- W. Schneider + Co AG
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” The growing awareness about sanitary and personal hygiene is one of the significant factors driving the market growth. Hence, with growing awareness about the importance of hygiene and space in bathroom, consumers are increasingly adopting the best, including grooming with additional light in mirrors are the major factors driving the market during the forecast period”, Mr. Karan Chechi, Research Director with TechSci Research, a research-based global management consulting firm.
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Bathroom Mirror Cabinets Market–Global Industry Size, Share, Trends, Opportunity, and Forecast. 2017-2027,Segmented By Material (Steel and Polymer), By Type (Single Door and Multi-door), By Sales Channel (Offline Channel and Online Channel), By Region has evaluated the future growth potential of the global bathroom mirror cabinets market and provides statistics & information on the market size, structure, and future market growth. The report intends to provide cutting-edge market intelligence and help decision-makers to make sound investment decisions. Besides the report also identifies and analyzes the emerging trends along with essential drivers, challenges, and opportunities in the global bathroom mirror cabinets market.
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