Reports And Data

Bathroom Vanities Market Surges on Growing Bath Utilities Trend and Functional Bathroom Demands, Driven by Retrofitting and Rising Disposable Incomes

NEW YORK, USA, UNITED STATE, May 25, 2023 /EINPresswire.com/ -- The Bathroom Vanities Market has witnessed significant growth in recent years, with a market value of USD 8.56 billion in 2022. According to forecasts, this market is expected to reach USD 14.71 billion by 2032, growing at a compound annual growth rate (CAGR) of 7% during the forecast period. One of the primary drivers behind this growth is the increasing demand for luxurious and high-end bathroom furniture.

Consumers are increasingly willing to invest in high-quality bathroom vanities that not only add elegance to their bathrooms but also offer improved practicality and convenience. With a growing awareness of interior design and aesthetics, people are becoming more conscious of their home's overall look, including the bathroom. As a result, they are willing to spend more on bathroom vanities that enhance the overall visual appeal of their bathrooms.
Furthermore, the rising trend of home remodeling and improvement is contributing to the demand for bathroom vanities. Many individuals are opting to renovate their bathrooms with contemporary and elegant fixtures and fittings. As a part of these renovation projects, bathroom vanities play a crucial role in enhancing the functionality and aesthetics of the space. Therefore, the market is witnessing an increased need for bathroom vanities that cater to the evolving preferences and requirements of consumers.

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Major Companies:

RSI Home Products, Inc., Kohler Company, JSG Oceana, Foremost Groups, Empire Industries, Inc., Design House (DHI Corp.), Design Element Group, Inc., Bellaterra Home, LLC, Avanity Corporation, and American Woodmark Corporation, among others.

Bathroom Vanities Market segmentation:

The product type segment categorizes bathroom vanities based on their installation and mounting options. Floor standing vanities are freestanding units that are placed directly on the floor. Wall mounted vanities are attached to the wall, providing a sleek and modern look. Corner mounted vanities are designed to fit into corners, making efficient use of space. The "Others" category includes unique or specialized types of bathroom vanities.
The material segment classifies bathroom vanities based on the primary material used in their construction. Wood is a popular choice for its natural warmth and versatility. Metal options offer a contemporary and industrial aesthetic. Glass vanities create a sleek and transparent look. Stone, such as marble or granite, provides a luxurious and durable option. The "Others" category includes vanities made from alternative or composite materials.
The end-use segment differentiates between bathroom vanities used in residential settings and those used in commercial spaces such as hotels, restaurants, and offices. Residential vanities cater to individual homes, while commercial vanities are designed for high-traffic areas and have specific requirements for durability and functionality.

The regional outlook segment highlights the geographic markets for bathroom vanities. It includes key regions such as North America, Europe, Asia-Pacific, Latin America, and the Middle East & Africa. Within each region, specific countries are mentioned as key markets for bathroom vanities.

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Strategic Planning:

To obtain a competitive edge in the market, the major companies in the bathroom vanity industry are using a variety of tactics, including as mergers and acquisitions, strategic alliances, the development and introduction of more efficient products, and global expansion.

• In 2021, Kohler Co. and JSG Oceana announced a strategic agreement to provide a selection of bathroom vanities with built-in glass sinks. The collaboration aims to broaden Kohler's product selection and provide customers a distinctive and attractive bathroom vanity option.

• In 2020, Sentrel, Inc., a U.S.-based producer of solid surface and cultured marble products, was acquired by LIXIL Group Corporation. The acquisition aims to boost LIXIL's presence in North America and increase its product offerings in the bathroom vanities industry.

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