Market Trends of Cabinet Industry
This section covers the major market trends shaping the Cabinet Market according to our research experts:
Kitchen Cabinets are Dominating the Market
Kitchen cabinets are dominating the market by accounting for the largest share of the market, with significant growth rate, due to rising value and volume demand. The other type of fo cabinets take the smallest share of the market but are due to greater use in the developing economy. For instance, strong advances in non-residential building construction in China have boosted demand for cabinets used as fixtures in offices and medical buildings.
Asia-Pacific is Anticipated to Grow at Highest Rate
Cabinet revenues in the Asia-Pacific region are growing. The region is anticipated to grow at a higher rate with significant CAGR during the forecast period. Driven by rapid demand growth in developing countries, primarily China and India. China is forecast to continue to post the fastest gains in cabinet demand of any country, surpassing Japan to become the second largest global cabinet market in the forecast period. Rapid growth in the installations of cabinets in new and existing homes, as well as in nonresidential buildings, will support the robust demand growth.
