June 06, 2022/IndustryNewsGlobal/ The unexpected shifts in the global markets because of the sudden outbreak of the COVID-19 virus have brought many major and minor tremors to industries of all sizes including the Cabinet Market.
It was estimated prior to this unanticipated outbreak that the Cabinet Market is likely to witness a CAGR of 5.5% during the forecast period. The major factors such as rebounding in residential building construction with a significant growth, enhancements in design trends which demands to have larger kitchen area, increasing demand for bathroom cabinets having medicine vanities which can also be used for storing personal objects and cleaning supplies, and growing demand in non-residential market for various trending cabinets are expected to accelerate the growth of the market during the forecast period.
Market Scope & Segmentation
Cabinet is basically a kind of furniture which is box-shaped with doors and/or drawers used to store various objects. They are of different types such as kitchen cabinets, bathroom cabinets, entertainment center cabinets, home office cabinets, and other cabinets designed as per the requirements of the area.
This report studies the market covering a period of 12 years of trend and forecast. The report provides detailed insights into the market dynamics to enable informed business decision making and growth strategy formulation based on the opportunities present in the market.
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Based on the type, the market is segmented as kitchen cabinets, bathroom cabinets, entertainment center cabinets, home office cabinets, and other cabinets. Kitchen cabinet is estimated to hold the largest share of the market and witness significant growth as well, owing to the increasing demand in residential building construction, during the forecast period. The other types of cabinets are also used for various purpose but they account for smaller share as compared to the kitchen cabinet.
In terms of regions, Asia-Pacific is estimated to be the fastest-growing region in the market with China and India being the major countries with rapid and lucrative growth opportunities during the forecast period. Factors such as China witnessing fastest-growth in cabinet demand, estimated to surpass Japan to achieve the position of second-largest cabinet market globally, and rapidly growing installations of cabinets in non-residential buildings and homes are expected to fuel the growth of the regional market during the forecast period. North America and Europe are also expected to offer substantial growth opportunities during the forecast period.
Key players operating in the global Cabinet market are-
- American Woodmark Corporation
- Cleanup Corporation
- Fortune Brands Home & Security
- Howden Joinery
- Inter IKEA Holding SA
- Kohler Co.
- LIXIL Sunwave
- Takara Standard.
Features of the Report
This report offers high-quality insights and is the outcome of detailed research methodology comprising extensive secondary research, rigorous primary interviews with industry stakeholders and validation and triangulation with Stratview Research’s internal database and statistical tools.
The Cabinet analysis report discusses the following heads in great detail:
- Market structure: Overview, industry life cycle analysis, supply chain analysis
- COVID-19 Impact Assessment
- Market environment analysis: Growth drivers and constraints, Porter’s five forces analysis, SWOT analysis
- Market trend and forecast analysis
- Market segment trend and forecast
- Competitive landscape and dynamics: Market share, product portfolio, product launches, etc.
- Attractive market segments and associated growth opportunities
- Emerging trends
- Strategic growth opportunities for the existing and new players
- Key success factors
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