February 06, 2024 10:15 ET | Source: Straits Research Straits Research
New York, United States, Feb. 06, 2024 (GLOBE NEWSWIRE) -- Bathroom mirror cabinets are massive wall-mounted storage units that include a mirror and a cabinet. It contains several drawers, brush holders, comb brackets, and scratch-resistant mirrors for grooming purposes. It is constructed from strong, water-resistant materials, such as wood, aluminum, and stainless steel, and it comes in a variety of modern designs that complement bathroom decor. It can also be constructed with moveable shelves, drawers, and built-in organizers to accommodate the storage of specific items. Recycled Timber Vanity
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Expansion of Urban Dwelling in Emerging Countries and Rise in Technological Innovation Drives the Global Market
According to Straits Research, “The global bathroom mirror cabinets market share was valued at USD 817.72 million in 2022. It is estimated to reach USD 1,369.62 million by 2031, growing at a CAGR of 5.9% during the forecast period (2023–2031).” In the developing region, the growing population and expanding middle class are anticipated to increase the demand for urban real estate. The government and involved parties are currently collaborating to eliminate dangers. Governments in a number of developing nations, including Vietnam, China, and India, pioneer the construction of residential infrastructure. As a result, it is anticipated that growing government spending, a rise in the middle class, and a rise in income will raise demand for bathroom accessories and drive market growth.
In the luxury market, LED-lit bathroom vanities are becoming increasingly popular. LED lighting is now activated by infrared sensors, making them more dependable. Nevertheless, LCD clocks and anti-rust alloys are gaining considerable popularity. In addition, demister pads are currently utilized to heat and efficiently demist mirror surfaces swiftly. These technical advancements in bathroom mirror cabinets would help market growth.
Emergence of Omni-Channel Approach Creates Tremendous Opportunities
E-commerce is increasingly popular as customers shop online more frequently than ever. As mobile phone usage increases, the internet market is anticipated to expand tremendously as more individuals use their phones, tablets, or other mobile devices to purchase common things. Industry leaders are currently creating online channels because a multi-channel strategy is needed. Due to the rapid development of the e-commerce sector, organizations in the industry have modified their strategy to emphasize omnichannel presence and customer demand. Yet, active stakeholders in the industry require assistance in providing a seamless consumer experience and internal processes. Therefore, the emergence of an omnichannel strategy would present enormous opportunities for market expansion.
Asia-Pacific's bathroom mirror cabinets industry share is anticipated to exhibit a CAGR of 6.5% during the forecast period. Increasing urbanization in the Asia-Pacific region and increased disposable income in countries like China, India, and others is likely the primary factor driving demand growth over the projection period. Additionally, the market is expected to be driven by the industry's substantial expansion in nations like China, India, and Japan. Shifting lifestyles in Asia have changed consumer purchasing patterns. Moreover, families in the region are also significantly spending on bathroom furnishings such as mirror cabinets. People prefer to purchase bathroom mirror cabinets offline. Multiple-door bathroom mirror cabinets are also gaining popularity among regional consumers. In addition, the introduction of LED-equipped mirror cabinets and the rise of online purchasing habits are predicted to create several market prospects for the region's existing businesses.
Europe is estimated to exhibit a CAGR of 3.8% over the forecast period. In the European region, bathroom mirror cabinets with LED lighting are fashionable. Lighting enhances the bathroom's visual appeal. Moreover, buyers purchase luxury cabinets to improve the bathroom's ambiance. Moreover, consumers in the region are shifting towards lighting furniture due to its high social value and the rise of concept bathrooms. In addition, interior designers provide advisory services to homeowners regarding installing bathroom mirror cabinet fixtures. The availability of this service via an online platform for concept bathroom fixtures and furnishings is anticipated to promote the growth of the bathroom mirror cabinet market in Europe.
The Top 10 players in the bathroom mirror cabinets industry are Roca, Laufen Bathrooms AG, Geberit AG, Duravit, Bellaterra Home LLC., W. Schneider+Co AG, FAB Glass and Mirror, HiB, Roper Rhodes Ltd, and Emco group.
Global Bathroom Mirror Cabinets Market: Segmentation
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