Bathroom Vanities Market Anticipated To Reach USD 70.0 Billion By 2030Posted by Neha Bora on March 29th, 2023 San Francisco, 29 March 2023: The Report Bathroom Vanities Market Size, Share & Trends Analysis Report By Application (Residential, Non-Residential), By Material (Stone, Ceramic, Glass, Wood, Metal) By Size (24-35 Inch, 38-47 Inch, 48-60 Inch), By Region, And Segment Forecasts, 2022 - 2030 The global bathroom vanities market size is expected to reach USD 70.0 billion by 2030 to register a CAGR of 7.6%, according to a new report by Grand View Research, Inc. The market for bathroom vanities is experiencing strong growth owing to the rising development of homes, hotels, restaurants, and airports as well as the rising demand for contemporary bathrooms. In addition, the rising prominence of multi-functionality storage adjacent to the basin or sink with aesthetic appeal is boosting the demand for these products. Many hotels were closed across regions and countries, especially luxury hotels. Due to the coronavirus pandemic effects, both luxury and budget hotels saw a decline in occupancy. The market has been substantially impacted by this. However, because of the fast development of both residential and commercial buildings, the market for bathroom vanities is expected to experience increased demand from these markets. According to the World Property Journal, the U.S. housing market’s combined value hit USD 33.6 trillion in January 2020. Increasing infrastructural developments as well as new building permits in the region are expected to boost the market. The wood segment of the bathroom vanities market is dominated in terms of materials, and it is anticipated that it would hold the largest market share during the projection period. Customers expect the bathroom cabinets to last long and cause fewer problems in the long run. Wood is considered to be the dominant segment owing to its properties such as durability and strength. Asia Pacific held the largest market share in 2021, owing to the continuous expansion of the residential sector on account of the increasing number of households. Also, with the growing population, there are compact spaces that act as a driver to the market as bathroom vanities help maximize the limited space that is available in a smaller bathroom. The incorporation of the latest trends in materials and the development of new finishes in the product category are other key strategies for manufacturers to enter the segment and attract consumers. Manufacturers are also focusing on the development of products that are at the forefront of technology as well as design, introducing highly durable and unique fixtures. Access Research Report of Bathroom Vanities Market @ https://www.grandviewresearch.com/industry-analysis/global-bathroom-vanities-market Bathroom Vanities Market Report Highlights
List of Key Players of Bathroom Vanities Market
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