According to a new report published by Allied Market Research, titled, The global bathroom mirror cabinets market was estimated at $649.3 million in 2018 and is expected to hit at $995.9 million by 2026, registering a CAGR of 5.6% from 2019 to 2026. The report provides an all-inclusive analysis of the top investment pockets, top winning strategies, drivers & opportunities, market size & estimations, competitive landscape, and changing market trends.
Expansion of urban dwelling in emerging countries drives the growth of the global bathroom mirror cabinets market. On the other hand, durability of steel mirror cabinets hampers the growth to some extent. However, technological innovation and increase in omni channel approach are expected to create multiple opportunities for the frontrunners in the sector.
Based on material, the polymer segment contributed to more than two-thirds of the total market share in 2018, and is expected to dominate till 2026. The same segment would also portray the fastest CAGR of 6.0% throughout the forecast period. The steel segment is also discussed in the market report.
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Based on type, the single door segment accounted for nearly three-fourths of the total market revenue in 2018, and is anticipated to maintain the lion’s share throughout the forecast period. At the same time, the multi door segment would project the fastest CAGR of 6.5% during the study period.
Expansion of urban dwelling in emerging countries propels the growth of the global bathroom mirror cabinets market. By type, the single door segment garnered the highest share in 2018. On the other hand, by geography, Asia-Pacific would remain lucrative throughout the forecast period.
The global bathroom mirror cabinets market is segmented on the basis of material, type, sales channel, and region. Depending on material, the market is bifurcated into steel and polymer. Based on type, it is studied across single door and multi door. On the basis of sales channel, the global market is segmented into offline channel and online channel. Region wise, the global bathroom mirror cabinets industry is studied across North America, Europe, Asia-Pacific, and LAMEA.
The key market players profiled in the report include Roca, Geberit AG, Laufen Bathrooms AG, Duravit, Bellaterra Home LLC., HiB, Roper Rhodes Ltd, W. Schneider+Co AG, FAB Glass and Mirror, and Emco group.
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The Covid-19 pandemic has a vital impact on the growth of the global Bathroom Mirror Cabinets market and altered several market scenarios. The lockdown across various countries and ban on international travel has disrupted the supply chain and revenue chain. The report includes a thorough analysis of the Covid-19 pandemic on the growth of the global Bathroom Mirror Cabinets market.
Key Findings of the Study:
○ Asia-Pacific accounted for the highest market share and is expected to retain its dominance during the forecast period.
○ The polymer segment was the highest contributor to the global bathroom mirror cabinets market, with $446.3 million in 2018, and is estimated to reach $705.7 million by 2026, at a CAGR of 5.0% during the forecast period.
○ In 2018, based on sales channel, the offline segment accounted for around 89% of the global bathroom mirror cabinets market share in 2018, and is expected to grow at the CAGR of 5.4%. However, this segment is expected to lose market share to online channel.
○ The online sales channel is expected to witness significant growth rates at a CAGR of 7.4%, respectively.
○ The single door segment accounted for around three-forth market share in 2018 and is poised to grow at a significant CAGR of 5.3% during the forecast period.
○ In 2018, based on region, LAMEA is anticipated to grow with robust CAGR of 5.9% during the forecast period.
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Source: Allied Market Research
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