CLEVELAND - U.S. sales of residential and commercial cabinetry are forecast to increase 8.2% annually to $15.3 billion in 2016, according to a new study by The Freedonia Group Inc.
Expected gains in new housing construction, though still well below the peak of 2006, will be the chief driver of residential cabinetry gains. Kitchen remodeling will also help fuel the growth of residential cabinetry demand. Residential cabinetry accounted for more than 80% of 2011 demand, according to Freedonia.
Key design trends helping push kitchen cabinet demand by an average of 8.6% per year include the need for larger cabinets to store food products and cookware and growing demand for value-added options like pull-out drawers and shelves; wine racks; and other kitchen conveniences.
Demand for bathroom cabinets is forecast to grow 6.5% per year to $1.8 billion in 2016. Demand for other cabinets, including those found in home theaters, laundry rooms and home offices, is expected to reach $950 million.
Freedonia said cabinets for non-residential markets, including for offices and retail spaces, should increase 6.5% annually to $2.8 billion by 2016.
U.S. CABINET DEMAND (million dollars)
|
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% Annual Growth |
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Item |
2006 |
2011 |
2016 |
2006- 2011 |
2011- 2016 |
|
|
|
|
|
|
Cabinet Demand |
14980 |
10300 |
15300 |
-7.2 |
8.2 |
Kitchen |
12480 |
8340 |
12600 |
-7.7 |
8.6 |
Bathroom |
1630 |
1275 |
1750 |
-4.8 |
6.5 |
Other |
870 |
685 |
950 |
-4.7 |
6.8 |
|
|
|
|
|
|
Source: The Freedonia Group Inc.
The 374-page Cabinets study, published in June 2012, is available for $5,100 from The Freedonia Group,
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