January 25, 2022
According to the report titled ‘North America Bath Remodeling Market Size By Material (Stone, Ceramic Glass, Metal), By Product (Bathtub, Faucet, Shower System, Lavatory Sinks), By End-use (Residential, Commercial), COVID-19 Impact Analysis, Country Outlook, Growth Potential, Competitive Market Share & Forecast, 2021 – 2027’, available with MarketStudyReport, North America bath remodeling market is expected to witness substantial expansion during the period 2021-2027.
Rising inclination of consumers for enhanced bathroom spaces, surging interest in remodeling activities, and growing prominence of do-it-yourself tasks are factors propelling the growth of North America bath remodeling market.
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Moreover, escalating demand for products that promote relation among the people is further accelerating the industry development.
During the COVID-19 pandemic, several businesses were severely impacted due to the stock market volatility as well as the economic recession. However, temporary shutdowns and curfews imposed by governments across the world induced people to stay at home, bringing into focus the remodeling of residential spaces to improve the aesthetic appeal and functionality of their spaces, thus spurring the market share during the pandemic.
Based on material type, the glass segment is estimated to amass a valuation of USD 8 billion by the year-end of 2027, due to the elevated demand for glass lavatory sinks in commercial as well as hospitality sectors to make the product designs & space more attractive.
In terms of product type, the lavatory sink segment of North America bath remodeling industry is projected to grow at a CAGR of 3% over the assessment timeframe, owing to the availability of a wide variety of products, coupled with usage of numerous materials for enhancing the appearances.
Concerning end-use ambit, the residential vertical accounted for over 60% revenue share in 2020 and is predicted to witness robust expansion during the analysis period, given the growing emphasis placed on upgradation of multifamily houses, combined with the integration of smart technologies in bathroom spaces.
From a regional standpoint, the United States market is poised to grow at a healthy rate of 4% during the projected timeline, due to numerous old housing projects in the nation as well as the increased willingness of urban homeowners to improve & upgrade their homes.
The competitive landscape of North America bath remodeling market is defined by companies such as DuPont de Nemours, Inc., Kohler Co., Dreamstyle Remodeling, Inc., Neil Kelly Company, Case Design/Remodeling, Inc., Builders FirstSource, Inc., Pella Corporation, Harvey Building Products, MASCO Corporation, American Bath Remodeling, Inc., The Home Depot, Inc., USA Cabinet Store, and Ferguson Enterprises among others.