NEW YORK, Aug. 22, 2017 (GLOBE NEWSWIRE) — According to a new market research report titled “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” published by P&S Market Research, the global shower glass door market is expected to grow at a CAGR of 7.2% during –the forecast period.
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.
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.
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.
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.
Leave a Reply