SOURCE: MarketResearch.com

MarketResearch.com

September 07, 2010 09:08 ET

Expected Housing Rebound to Bring Steady Grow in Cabinet Market

ROCKVILLE, MD--(Marketwire - September 7, 2010) -  MarketResearch.com has announced the addition of Freedonia Group Inc's new report "Cabinets" to their collection of House & Home market reports. For more information, visit http://www.marketresearch.com/product/display.asp?ProductID=2758103

US demand for cabinets is forecast to expand 7.4 percent per year to $15.2 billion in 2014. Gains will be spurred by a rebound in housing completions from the depressed levels of 2009. Although housing completions will remain below the level reached at their cyclical peak in 2006, the expected recovery will fuel gains in the residential cabinet market through 2014. These and other trends are presented in Cabinets, a new study from The Freedonia Group, Inc., a Cleveland-based industry market research firm.

The residential market will account for over 90 percent of the approximately $4.5 billion increase in overall total cabinet demand through 2014. The new housing segment will boast the most rapid increases in cabinet demand through 2014. While the new housing market will experience solid growth, the improvement and repair segment will continue to account for the majority of residential demand.

The expected recovery of residential building construction will support demand gains for all cabinet types through 2014. Kitchen cabinets, which represented 80 percent of cabinet demand in 2009, are expected to lead advances through 2014, rising 7.8 percent per annum. 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. Demand for bathroom cabinets is forecast to grow 6.9 percent per year through 2014. Design trends that call for homes with larger cabinets to store personal items and medications will also promote gains. Demand for other cabinets, such as those found in offices, home entertainment centers, laundry and mudrooms, garages, and other areas, is expected to rise 3.8 percent annually through 2014. Advances will be promoted by increasing use of cabinets in these areas instead of shelving.

Through 2014, demand for cabinets in the nonresidential building market is anticipated to rise 2.8 percent annually. Concerns about price and performance play a larger role in cabinet selection than do aesthetics in most nonresidential structures. Thus, cabinets are replaced much less frequently. Growth will be led by institutional construction spending and a rebound in office and commercial construction spending. Rising boat and recreational vehicle shipments from a low 2009 base will boost non-construction demand.

For more information, visit http://www.marketresearch.com/product/display.asp?ProductID=2758103

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