North America Bath Remodeling Market Outlook To 2027: Recent Trends and Regional Revenue
The North America bath remodeling market is set to grow from its current market value of more than USD 59.72 billion to over USD 78.57 billion. The rising demand for bath remodeling products is encouraging the market players to launch more innovative offerings that can meet the consumer demands. Their initiatives are subsequently providing lucrative growth prospects for the industry. Quoting an instance, in 2021, Kohler Co. introduced its novel smart bathtub- Stillness Bath designed to offer a stillness infinity experience with enhanced immersive features.
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The increasing focus on bath renovations in conjunction with the infrastructure developments in residential and commercial spaces has instigated the demand for enhanced bath remodeling techniques. The rising demand for new, improved, and niche materials in bath renovations coupled with the growing need for better aesthetics in the region is augmenting the growth of North America bath remodeling market.
Essential to note that bath remodeling is being increasingly adopted in commercial as well as residential sectors. Commercial segment is, however, offering more lucrative opportunities for the market to grow through the significant developments in the wide range of office spaces in the U.S. and Canada. According to the report, the segment is anticipated to exhibit a notable CAGR of over 3.5% through 2027. The increasing number of remodeling hospitality projects across the U.S. in line with the growing tourism and rising demand for luxury hotels is further favoring the business expansion.
The materials that are majorly used in bath remodeling are stone, glass, ceramic, and metal. Of these, ceramic material is witnessing mounting demand and had accounted for significant revenue of USD 16 billion in 2020. They are widely used in flooring applications for bath remodeling in the region. In addition, they are more economical and are used for providing all types of bathroom looks such as modern and contemporary designs. This is encouraging manufacturers to offer a wide range of colors, shapes, and looks for the flooring applications. The new product developments coupled with the establishment of new manufacturing facilities for ceramic tiles in the region are further strengthening the industry landscape.
Speaking of the product type, shower systems comprising cabinetry, showerheads, and other accessories are in huge demand and are expected to record a significant valuation of nearly USD 8 billion by 2027. The introduction of new shower heads with more resistant and durable characteristics is further impelling the product demand. To illustrate, in 2020, TRES launched a shower system consisting of an extra flat profile which provides advantages like finesse and soothing sensation of water. The elevating demand for flat showerheads with enhanced finesse is boosting the industry statistics further.
On the regional landscape, Canada is expected to stand tall as a remunerative hub for the North America bath remodeling market owing to the increasing expenditure on alteration and home enhancement projects in the country. The increasing focus towards the improvements of commercial spaces and proliferating tourism sector in the country are propelling the regional market growth. Considering these factors coupled with the increasing home repairs and maintenance projects in the country, Canada bath remodeling market is anticipated to observe a robust CAGR of over 3.5% through 2027.
To summarize, North America bath remodeling market is growing with the introduction of smart bathroom products coupled with the ongoing improvements in residential and commercial establishments.
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Some Point from Table of Contents:
Chapter 4 North America Bath Remodeling Market, By Material
4.1 North America bath remodeling market by material, 2020 & 2027
4.2 Stone
4.2.1 Market estimates and forecast, 2017 –2027
4.2.2 Market estimates and forecast by country, 2017 –2027
4.3 Ceramic
4.3.1 Market estimates and forecast, 2017 –2027
4.3.2 Market estimates and forecast by country, 2017 –2027
4.4 Glass
4.4.1 Market estimates and forecast, 2017 –2027
4.4.2 Market estimates and forecast by country, 2017 –2027
4.5 Metal
4.5.1 Market estimates and forecast, 2017 –2027
4.5.2 Market estimates and forecast by country, 2017 –2027
4.6 Others
4.6.1 Market estimates and forecast, 2017 –2027
4.6.2 North America Bath Remodeling Market estimates and forecast by country, 2017 –2027
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