CLEVELAND, OH - Demand for cabinets in the US is forecast to rise 6.6 percent annually to $16.0 billion in 2018, driven by a strong rebound in residential building construction. Kitchens and bathrooms will continue to claim a large share of square footage in new housing, boosting demand for cabinets as these rooms are the areas of a home where cabinets are most often installed. Builders will install more cabinets in these rooms -- such as by adding cabinets in kitchen islands or his-and-her bathroom vanities -- to provide aesthetically pleasing storage solutions. Further gains will be spurred by an acceleration in residential improvement and repair spending, as rising home values and a more favorable lending environment encourage consumers to refurbish kitchens and bathrooms. These and other trends are presented in Cabinets, a new study from The Freedonia Group, Inc., a Cleveland-based industry market research firm.

According to analyst Matt Zielenski, “Kitchen cabinets, which accounted for 81 percent of demand in 2013, are expected to see the fastest growth of all cabinet types, rising 6.8 percent annually to $13.1 billion.” In addition to the rebound in residential building construction, gains will be spurred by design trends that call for homes to have larger kitchens with such features as islands and breakfast bars. These kitchens are often equipped with more and larger cabinets to provide ample storage space. Many of these cabinets will feature value-added amenities that enhance convenience, such as light-emitting diode lighting, pull-out shelves, storage racks, and easy-to-open doors.

Demand for bathroom cabinets is forecast to rise to $1.9 billion in 2018. Advances will be spurred by design trends that call for multiple bathrooms. While smaller in size than kitchens, bathrooms feature cabinets -- such as medicine chests or vanities -- that provide storage space for personal items and cleaning supplies. Demand for other cabinets, such as garage, home office, and home theater cabinets, will be supported by interest in them as attractive storage alternatives to open shelving and free-standing furnishings.

                                                                                                                                               

US CABINET DEMAND

(billion dollars)

 

% Annual Growth

Item     

2008

2013

2018

2008-

2013

2013-

2018

 

 

 

 

 

 

Cabinet Demand

13.0

11.6

16.0

-2.3

6.6

Kitchen

10.6

9.5

13.1

-2.3

6.8

Bathroom

1.5

1.4

1.9

-1.6

6.1

Other

0.9

0.8

1.0

-3.4

6.3

 

 

 

 

 

 

 © 2014 by The Freedonia Group, Inc.

Cabinets (published 05/2014, 371 pages) is available for $5300 from The Freedonia Group, Inc. For further details or to arrange an interview with the analyst, please contact Corinne Gangloff by phone 440.684.9600440.684.9600 or e-mail pr@freedoniagroup.com. Information may also be obtained through www.freedoniagroup.com.

Source: The Freedonia Group

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