The North America Residential Bathroom Cabinets Market would witness market growth of 8.6% CAGR during the forecast period (2024-2031).
The US market dominated the North America Residential Bathroom Cabinets Market by Country in 2023, and would continue to be a dominant market till 2031; thereby, achieving a market value of $28,758.4 million by 2031. The Canada market is experiencing a CAGR of 11% during (2024 - 2031). Additionally, The Mexico market would exhibit a CAGR of 10.1% during (2024 - 2031).
Bathroom cabinets serve many applications within residential settings, extending far beyond their primary storage function. For example, the most fundamental application of bathroom cabinets is to provide storage space for a wide range of essentials, including towels, toiletries, cosmetics, cleaning supplies, and medications. Cabinets provide a convenient and organized solution for keeping these items easily accessible while reducing clutter in the bathroom.
Moreover, beyond merely providing storage space, bathroom cabinets facilitate organization by offering compartments, shelves, and drawers that allow users to categorize and arrange items according to their usage and preferences. This promotes efficient use of space and helps users quickly locate the items they need. Also, in bathrooms with limited space, cabinets are crucial in optimizing the available space. Wall-mounted cabinets, corner cabinets, and built-in shelving units maximize vertical and horizontal space utilization, making the most of every square inch in the bathroom.
As residential construction in Canada rises, there is a proportional increase in the demand for bathroom cabinets. According to Statistics Canada, building construction investment rose 1.7% to $19.8 billion in November 2023. The residential sector grew 2.2% to $13.7 billion, while non-residential sector investment increased 0.4% to $6.0 billion. The increase in residential construction in Canada presents opportunities for customization in bathroom cabinet design. Likewise, with the growth of the real estate sector in Mexico, there's a natural increase in the construction of residential properties. The Government of Mexico indicates that in the third quarter of 2023, real estate, rental, and leasing generated a gross domestic product of $2.66T MX. This represents a growth of 5.55% from the same period in the previous year and 2% from the previous quarter. Thus, rising real estate sector investments and increasing residential construction activities in North America will increase the region's demand for residential bathroom cabinets.
Free Valuable Insights: The Residential Bathroom Cabinets Market is Predict to reach USD 135.1 Billion by 2031, at a CAGR of 9.0%
Based on Product, the market is segmented into Multi-Door, and Single Door. Based on Type, the market is segmented into Without Mirror, and With Mirror. Based on Material, the market is segmented into Wood, Metal, and Others. Based on countries, the market is segmented into U.S., Mexico, Canada, and Rest of North America.
By Product
By Type
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By Country
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