Selbyville, Delaware, Oct. 13, 2021 (GLOBE NEWSWIRE) -- North America bath remodeling market revenue is anticipated to record a valuation of USD 78 billion by 2027, according to the most recent study by Global Market Insights Inc. The rising prevalence of bath remodeling in the residential & commercial sectors along with the surging acceptance of new, better, and niche materials in bath renovations will drive the market growth over the forecast timeframe.
Bathroom remodeling brings an augmented level of comfort. Homeowners opt for it owing to other key factors such as improved aesthetics and increased resale value of homes. Moreover, as the technology in living spaces is becoming more prevalent across the region, consumers are seeking ways to combine luxury and technology to keep their overall space in the trend.
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Leveraging this opportunity, manufacturers are offering a range of products from digital faucets to integrated toilets, thereby merging technology and luxury. Furthermore, owner-occupied housing is further catalyzing the North America bath remodeling market.
Ceramic materials generated around USD 16 billion in revenue in 2020. Ceramic materials are widely used in the flooring applications for bath remodeling in the region. These are economical materials and manufacturers offer a wide range of colors, shapes, and looks for flooring applications. These materials are used for offering all types of bathroom looks from modern to contemporary bathroom designs. The development of new products along with the establishment of new ceramic tiles facilities in the region will drive the material growth over the forecast timeframe
Shower system products are expected to generate nearly USD 8 billion in revenue in the North America bath remodeling market by 2027. A shower system comprises shower heads, cabinetry, and other accessories. The development of new shower heads with more durable and resistant properties along with easy mounting will drive the demand for shower systems. For instance, in May 2020, TRES developed a shower system with an extra flat profile that offers advantages such as finesse and the soothing sensation of water. Further, cabinetry is available mainly in glass materials and the growing demand for flat showerheads with improved finesse will drive the segment growth.
The commercial segment is estimated to showcase considerable growth at over 3.5% CAGR from 2021 to 2027 owing to the development of a wide range of office spaces in the U.S. and Canada. The rising remodeling hospitality projects in the U.S. owing to the growth in tourism and the demand for luxury hotels are further supporting the market growth. The presence of a large number of luxury hotels in the U.S. and the higher updating of these hotels to ensure customer satisfaction are driving the segment growth.
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Rising spending on alteration and home improvement projects in Canada are supporting the bath remodeling market growth and is expected to grow at a CAGR of over 3.5% from 2021 to 2027. Ontario, Quebec, and British Colombia are dominating the market with over 50% share of the Canada home improvement market. Further, the growing demand for commercial space improvements in the country and the proliferating tourism sector are driving the remodeling market growth. In addition, the home repairs & maintenance projects are also growing in the country.
Some of the key findings in North America bath remodeling market report are:
- The bath remodeling market is highly fragmentated, with the presence of several regional manufacturers.
- Rising willingness of suburban and urban homeowners in the U.S. to remodel their homes.
- The growing concerns to minimize water wastage have triggered customers to upgrade their faucets and toilet solutions with advanced water technology products.
- The rising trend among older baby boomers to upgrade their homes and baths with exterior/interior replacements and equipment upgrades will support the industry growth over the forecast timeframe.
- Industry players are focused on mergers & acquisitions, R&D investments, and product developments and expansion of distribution networks over the long run.
Partial chapters of report table of contents (TOC):
Chapter 2 Executive Summary
2.1 North America bath remodeling industry 360° synopsis, 2017 –2027
2.1.1 Business trends
2.1.2 Material trends
2.1.3 Product trends
2.1.4 End-use trends
2.1.5 Country trends
Chapter 3 North America Bath Remodeling industry Insights
3.1 Industry segmentation
3.2 Industry size and forecast, 2017 –2027
3.2.1 COVID-19 impact on industry landscape
3.3 Industry ecosystem analysis
3.3.1 Supply chain
3.3.2 Distribution channel analysis
3.3.2.1 Online sales channel
3.3.2.2 Reseller
3.3.2.3 Wholesaler
3.3.2.4 DIY retailers
3.3.2.5 DIFM retailers
3.3.3 Profit margin trends
3.3.4 Value chain disruption analysis (COVID-19 impact)
3.3.5 Vendor matrix
3.4 Future trends
3.4.1 Innovation landscape
3.5 Raw material analysis
3.5.1 Supply chain management practices by raw material suppliers
3.5.2 COVID-19 impact on raw material supply
3.6 Regulatory trends
3.7 Industry Impact Forces
3.7.1 Growth drivers
3.7.1.1 Change in consumer buying behavior owing to the revolution in living styles
3.7.1.2 Supportive energy efficiency programs and financing options
3.7.2 Industry pitfalls & challenges
3.7.2.1 Increasing labor cost and the need to enhance supply chain visibility and efficiency
3.8 Growth potential analysis, 2020
3.9 Porter analysis
3.9.1 Supplier power
3.9.2 Buyer power
3.9.3 Threat of new entrant
3.9.4 Threat of substitute
3.9.5 Industry rivalry
3.10 Competitive landscape, 2020
3.10.1 Top players overview, 2020
3.10.2 Strategy dashboard
3.11 PESTEL analysis
3.12 COVID-19 impact on bath remodeling demand by end-use
About Global Market Insights
Global Market Insights Inc., headquartered in Delaware, U.S., is a global market research and consulting service provider; offering syndicated and custom research reports along with growth consulting services. Our business intelligence and industry research reports offer clients with penetrative insights and actionable market data specially designed and presented to aid strategic decision making. These exhaustive reports are designed via a proprietary research methodology and are available for key industries such as chemicals, advanced materials, technology, renewable energy and biotechnology.
