The global cabinets market is expected to register a CAGR of more than 5% during the period 2018-2022, according to the latest market research report by Technavio.
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Technavio has published a new market research report on the global cabinets market from 2018-2022. (Graphic: Business Wire)
A key factor driving the growth of the market is the increase in construction activities across the globe. The per capita income in emerging economies such as China, India, and South Africa has been increasing continuously due to the rise in economic activities. This has contributed to an increase in the number of first-time home buyers. Furthermore, the positive economic outlook in the developing nations will also be a major factor contributing to a rise in the number of residents buying properties.
This market research report on the global cabinets market 2018-2022 also provides an analysis of the most important trends expected to impact the market outlook during the forecast period. Technavio classifies an emerging trend as a major factor that has the potential to significantly impact the market and contribute to its growth or decline.
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In this report, Technavio highlights the increasing use of floor-to-ceiling cabinets as one of the key emerging trends in the global cabinets market:
Global cabinets market: Increasing use of floor-to-ceiling cabinets
There is a growing demand for floor-to-ceiling cabinets since they provide an enhanced aesthetic look to a room. Additionally, they also solve storage issues by providing extra space due to the height of the cabinet. These cabinets create an illusion of a higher ceiling and more space when compared to traditional cabinets.
Floor-to-ceiling cabinets offer several advantages, which has contributed to their increased use in the kitchen and bathroom. They are also utilized in other parts of the home, including the mudroom and living room. This is anticipated to further contribute to an increase in the number of vendors providing floor-to-ceiling cabinets during the forecast period, says a senior analyst at Technavio for research on construction.
Global cabinets market: Segmentation analysis
This market research report segments the global cabinets market by end-user (residential and commercial) and geography (the Americas, APAC, and EMEA).
The residential segment held the largest market share in 2017, accounting for over 83% of the market. This end-user segment is expected to dominate the global market throughout the forecast period.
The Americas led the market in 2017 with approximately 35% of the market share, followed by APAC and EMEA respectively. APAC is expected to surpass the Americas to become the highest market share contributing region by 2022.
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Some of the key topics covered in the report include:
- Market ecosystem
- Market characteristics
- Market segmentation analysis
- Market definition
- Market size and forecast
Five Forces Analysis
- Regional comparison
- Key leading countries
- Vendors covered
- Vendor classification
- Market positioning of vendors
- Competitive scenario
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