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Cabinets Market Demand and its Growth Available through Bharatbook
Bharatbook added a new report on "Cabinets to 2014" which gives the applications, opportunities and the future outlook of Cabinets Market. Cabinets to 2014
US demand for cabinets is forecast to expand 7.4 percent per year to $15.2 billion in 2014. Gains will be spurred by the rebound in housing completions from the depressed levels of 2009, reflecting the sharp declines in housing completions between 2007 and 2009. Although housing completions will remain below the level reached at their cyclical peak in 2006, the recovery will fuel above average gains in the residential cabinets market through 2014. ( http://www.bharatbook.com/
Kitchen cabinets to offer best growth opportunities
Kitchen cabinets, which represented about 80 percent of cabinet shipments in 2009, are expected to post the most rapid advances through 2014. The projected rebound in housing completions through 2014 will drive gains. Growth will also be supported by design trends that call for homes with more and larger-sized cabinets to store food products and kitchen equipment. Many homeowners will also install cabinets with such value added amenities as pull-out shelves, racks and lazy Susans to enhance kitchen convenience. Shipments of bathroom cabinets are forecast to grow at an above average pace through 2014. Advances will primarily be supported by rebounding housing completions. Design trends that call for homes with larger master bathrooms and larger cabinets to store personal items and medications will also promote gains. Shipments of other cabinets, such as those found in offices, home entertainment centers, laundry and mud rooms, garages and other areas, are expected to rise more than three percent annually through 2014. Advances will be promoted by increasing use of cabinets in these areas instead of shelving.
Residential buildings to remain dominant market
Residential buildings were the largest market for cabinets in 2009, with about three-quarters of total demand. The residential market will continue to hold this leading position through 2014, given its greater intensity of cabinet use compared to other markets. While new housing will lead advances, the improvement and repair segment will continue to account for the majority of residential demand. Not only is there a large stock of older homes requiring cabinet replacement, but kitchen and bathroom renovation projects -- including the replacement of cabinets -- are often undertaken by homeowners to improve the aesthetics or add value to their homes. Through 2014, demand for cabinets in the nonresidential market is anticipated to rise 2.8 percent annually. Concerns about price and performance generally play a larger role in cabinet selection than aesthetics in most nonresidential structures. Thus, cabinets are replaced much less frequently. Growth will be derived from continued institutional construction spending and a rebound in office and commercial construction spending. Rising shipments of boats and recreational vehicles from a low 2009 base will boost demand for cabinets in the nonconstruction market.
The US cabinet industry is characterized by relatively low levels of foreign trade, with imports accounting for less than five percent of demand in 2009 and exports approximately one percent of shipments. US foreign trade in cabinets is limited by many factors, such as the cost of shipping fully assembled cabinets and variations in style preferences between the US and other countries. Through 2014, cabinet shipments are expected to rise over seven percent per year, as domestic manufacturers increase production efforts to meet rising demand for cabinetry.
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