Global shower glass door market is expected to grow at a CAGR of 7.2% during the forecast period, according to new market research report published by P&S Intelligence.
Browse Report Summary with Detailed TOC on “Shower Glass Door Market by Type (Frameless, Framed), by Sales Channel (Direct Sales, Indirect Sales) – Global Market Size, Share, Development, Growth and Demand Forecast, 2013-2023” at: https://www.psmarketresearch.com/market-analysis/shower-glass-door-market
Global shower glass door market to witness significant growth
The global shower glass door market has been thriving mainly due to increasing urbanization, that is creating demand for not-so necessary products, such as shower glass doors. Owing to this, the market for both types of shower glass doors – frameless and framed, has been growing.
Insights on market segments
As per the findings of the research, frameless shower glass doors has contributed larger revenue to the global market. Frameless heavy shower glass doors are a contemporary design trend, since they give the bathroom spacious and luxury spa-like feeling that homeowners want. This trend has increased the demand for frameless shower glass doors globally.
Asia-Pacific stands as the fastest growing shower glass door market
Geographically, Asia-Pacific stands as the fastest growing shower glass door market. Increase in brand awareness and preference for high-end products are the key factors propelling the growth of shower glass door market in APAC. Moreover, APAC is likely to register the highest growth in terms of high-net-worth individuals (HNWIs), during the forecast period. An improving economy with rising disposable incomes among the population, directly results in increased spending on luxury items, including bathroom fittings and décor.
In addition, some of the factors including growing need for optimization of space in bathroom, coupled with burgeoning hotel construction to cater to the requirements of increased tourist inflow are expected to boost the demand of frameless shower glass doors in APAC.
Increasing focus on home decoration bolsters the demand of shower glass doors
Rising consumer interest in home decoration is a major driver for the increased demand of shower glass doors. Home decorating ventures have grown in terms of popularity in the recent years, due to increasing demand for fashionable and attractive interiors. In a study by Joint Centre for Housing Studies (JCHS) of Harvard University, it is predicted that over the coming years, real spending on home improvements is expected to grow at a 3.5% average annual pace. This growth is primarily a result of people willingness to make their homes more stylish. The JCHS study also confirms that the home decoration industry has a bright future.
According to an article by Forbes, due to the increasing popularity of accessible and affordable home supply stores, do-it-yourself (DIY) projects are becoming popular. DIY is a concept suggesting that people can learn to work on their homes and use their creativity to make their living spaces comfortable. DIY has made the home decoration more popular all over the world. People are learning the techniques of installation of shower doors and enclosures, and apply their own ideas of installation. Due to rise in growth of DIY concept, the sales for secondary industries, including shower glass doors, has seen a tremendous increase in the recent past.
The expansion of real estate industry is also driving the growth of shower glass door market. The real estate investors are observing huge prospects in real estate markets across the globe as this industry has numerous sources of funding, including traditional loans, private lenders, venture capitalists, angel investors, hard money lenders, Home Equity Loans and Line of Credit (HELOCS) and money partners. Globalization in general, and offshoring in particular, has direct and ancillary effects on the supply chain for real estate construction, which makes the real estate market growing. Shower glass door is an essential part of many residential and a few commercial constructions, including hotels, resorts, houses and apartments. An elegant bathroom, with furnishings such as shower glass enclosures can potentially increase the resale value of a home. The stylish shower doors and enclosures also attracts attention of the potential buyers and increase the number of offers one receives for his property, allowing a greater degree of choice. With the expansion and modernization of real estate industry, the demand for shower glass doors has increased manifolds in the recent past.
Fragmented global shower glass door market
The global shower glass door market is highly fragmented, where top five players accounted for less than 35% revenue. All the five major players – Kohler Co., American Standard Brands, Basco Corporation, Guardian Industries and MAAX Bath Inc. belong to North America. The other players who have good presence in the global market include Vigo Industries, Coastal Shower Doors, Aston Global Inc. and Jaquar & Company. New product launches have been the key strategies of these major players to expand their presence in this industry. Companies operating in this industry are extensively upgrading their product offerings through continuous innovation and providing sophisticated shower glass doors to their users to improve the quality of everyday life.
For instance, in October 2016, Guardian Glass, a subsidiary of Guardian Industries Corp., launched a new temperable lacquered glass ‘Guardian Deco HT’ for decorative applications. Guardian Deco HT is ideal for a wide variety of applications at home and workplace, ranging from back splash zones in kitchens and bathrooms, interior wall cladding, work surfaces, writing boards and displays, doors, as well as railings and balustrades.
GLOBAL SHOWER GLASS DOOR MARKET SEGMENTATION
By Sales Channel