Shower Enclosure and Cubicles Market - Drivers and Share by Technavio

Technavio has published a new report on the global shower enclosure and cubicles market from 2017-2021. (Graphic: Business Wire)

LONDON--()--Technavio analysts forecast the global shower enclosure and cubicles market to grow at a CAGR of more than 5% during the forecast period, according to their latest report.

The research study covers the present scenario and growth prospects of the global shower enclosure and cubicles market for 2017-2021. The market is segmented based on end-user (residential and non-residential) and geography (EMEA, APAC, and the Americas).

The use of shower enclosures and cubicles in the housing and residential building sector has been increasing in recent years, primarily due to the growing appreciation of the performance benefits of shower enclosure and cubicles such as compact footprint, flexibility, and ease of maintenance. The growing demand for homes in urban areas and mixed-use buildings is also driving the demand for shower enclosures and cubicles. Also, rapid urbanization is leading to increased rural-to-urban migration, particularly in developing countries, which is anticipated to drive the construction of new houses in urban areas, thus spurring the demand for shower enclosures and cubicles.

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Technavio heavy industry research analysts highlight the following three factors that are contributing to the growth of the global shower enclosure and cubicles market:

  • Rise in building refurbishment activities
  • Growing popularity of multi-family dwellings
  • Increasing construction of skyscrapers

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Rise in building refurbishment activities

The demand for shower enclosures and cubicles is expected to be driven by the high level of consumer interest in bathroom renovation projects. Consumers who are willing to improve the appearance and value of their houses but unable to afford more costly projects prefer to renovate their existing bathrooms, driving the demand for shower enclosures and cubicles.

Gaurav Mohindru, a lead construction research analyst at Technavio, says, “The refurbishment market is driven by the growth in per capita disposable incomes and employment. Home prices are expected to continue rising in the next five years, leading to the increase in the demand for refurbishment services as homeowners often leverage the value of their homes through mortgages to fund remodeling projects.”

Growing popularity of multi-family dwellings

The increasing popularity of multi-family living in several nations worldwide is attributed to economic, demographic, and social changes. Favorable demographic trends and economic growth will drive household formations and strong multi-family growth during the forecast period, driving the global shower enclosure and cubicles market.

“In many metropolitan areas, the multi-family housing sector has witnessed exceptional growth due to the demand from younger Millennials. The growing knowledge economy, which tends to be based in cities, coupled with the increasing interest in consuming experiences rather than consumer goods, has driven the demand to live in well-planned neighborhoods, apartments, or condo buildings, which involve only a short commute to the place of employment,” adds Gaurav.

Increasing construction of skyscrapers

The increase in urbanization requires cities to maximize land use. The rate of urbanization has been growing exponentially in recent decades. As a result, there is an increase in the construction of taller buildings such as skyscrapers as well as underground structures worldwide, especially in the emerging economies. Shower enclosures and cubicles are increasingly gaining popularity in high-rise buildings due to their aesthetics and comfort.

A key economic driver for the development of multi-story structures is the shortage of land in urban areas worldwide. The competition to develop the tallest building in a city, nation, locality, or globally is another driver for the development of tall structures. In the last two decades, the race to develop the tallest building extended to the challenge to build the most iconic and spectacular skyscrapers that involve complex geometries and inclining or bending shapes.

Top vendors:

  • Duravit
  • Jaquar Group
  • Kohler
  • LIXIL Group
  • Masco

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Contacts

Technavio Research
Jesse Maida
Media & Marketing Executive
US: +1 844 361 1100
UK: +44 203 893 3200
www.technavio.com

Release Summary

Technavio analysts forecast the global shower enclosure and cubicles market to grow at a CAGR of more than 5% during the forecast period, 2017-2021.

Contacts

Technavio Research
Jesse Maida
Media & Marketing Executive
US: +1 844 361 1100
UK: +44 203 893 3200
www.technavio.com