The Kitchen Cabinets Market is anticipated to register a CAGR of 6% during 2023 – 2028 - Market Size, Share, Forecasts, and Trends Analysis Report by Mordor Intelligence.
Hyderabad, March 28, 2023 (GLOBE NEWSWIRE) -- According to a new market research report titled "Kitchen Cabinets Market - (2023 – 2028),” the market is expected to register a CAGR of 6%. The key driver for kitchen cabinets is the construction of residential buildings, which are growing rapidly. The increasing demand for space-saving and proficient storage that optimize the usage of small spaces is expected to drive the demand for kitchen cabinets. Customization, to conform to the unique needs of modern consumers, is estimated to drive the market in the coming future.
What are the trends driving the growth of the Kitchen Cabinets Market?
Kitchens are often considered the most important room in homes. Therefore, a kitchen renovation is among the most common home improvements undertaken, giving momentum to the value of kitchen cabinets.
According to our research experts, some of the major market trends shaping the kitchen cabinets market are:
A study by official US sources found that the majority of homeowners who upgraded their kitchens opted for custom and semi-custom designs for their kitchen cabinets.
The availability of customized kitchen cabinets at affordable prices compared to conventional kitchen cabinets is increasing their demand in the region, supporting the global trend.
Among the different door styles for cabinets, recessed door styles dominated the market.
There is a positive outlook for wooden components and industrial products throughout the United States, a vital part of cabinets, store fixtures, and other wood industries.
It was found that among the materials used, paint was the predominant choice for kitchen cabinets, followed by wood and glass.
Residential project markets in the United States also aid the high growth of countertops in renovation models as homeowners opt for larger kitchens.
How is the growth being addressed?
In the growing nations of the Asia-Pacific region, a number of macroeconomic variables and internal market dynamics are influencing the growth and development of demand patterns. The market in the region is witnessing a substantial growth rate, owing to the increasing trend of kitchens being renovated. This is expected to increase the demand for kitchen cabinets.
Growth is mainly driven by the increase in demand for cabinets due to urbanization and the rising disposable incomes of consumers in the region. China is expected to register the fastest growth in demand for cabinets, surpassing Japan to become the second-largest cabinet market.
Rapid growth in the fittings of cabinets in new and existing homes and non-residential buildings is supporting the strong demand in China.
Who are the key players in the Kitchen Cabinets Market?
The kitchen cabinets market is highly competitive, as many players are opting for different strategies to meet the diversifying needs of consumers. Some of the key players are:
JPD Kitchen Depot
Canyon Creek Cabinet Company
Leggett & Platt Incorporated
Leicht Kuchen AG
SieMatic M belwerke GmbH and Co. KG
In a nutshell, the Mordor Intelligence Market Research Report is a must-read for start-ups, industry players, investors, researchers, consultants, business strategists, and all those who are looking to understand this industry. Get a glance at the https://www.mordorintelligence.com/industry-reports/kitchen-cabinets-market
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