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US Cabinets Market
US Cabinets Market
- Report price : $ 4 700
- Publication date : June 2008
US Cabinets Market
US demand to grow 3.9% annually through 2012
US demand for cabinets is forecast to expand 3.9 percent per year through 2012 (including price increases) to $18.5 billion. Building design trends that lead to greater cabinet use per residence and a rebound in new housing construction from a low base will support new residential cabinet demand. In improvement and repair applications, which are the single largest end use for cabinets, demand will be aided by ongoing growth in spending through 2012. Changing consumer preferences in cabinet design and various demographic factors -- such as an aging US population that has the financial wherewithal to finance renovation projects -- will also bolster demand. Furthermore, a rebound in new nonresidential construction expenditures, as well as a healthy outlook for renovation activity, will further contribute to gains through 2012.
Residential buildings to remain dominant market
Residential buildings accounted for the largest share of cabinet demand in 2007, with 81 percent. The residential market will continue to hold this leading position through 2012, given the greater intensity of cabinet use than in nonresidential and nonconstruction markets. In addition, improvement and repair activity is often aided by consumers’ changing aesthetics. Through 2012, the nonresidential market is anticipated to see solid gains, supported by both new and improvement and repair spending growth. The role played by aesthetics in cabinet demand varies among the different nonresidential applications, with decorative concerns affecting decisions in retail and other consumer-oriented settings such as spas and lodging establishments, and price and performance playing a larger role in lower visibility applications such as office kitchens and industrial facilities. Nonconstruction markets will see gains, aided by modest increases in production of recreational boats and vehicles over the forecast period.
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