NEW YORK, May 30, 2018 (GLOBE NEWSWIRE) -- According to the market research report published by P&S Market Research, the shower glass door market is expected to cross $17.8 billion by 2023, growing at a CAGR of 7.2% during 2017-2023. A significant growth rate is expected in the market due to increasing urbanization in emerging economies and expansion of real estate industry. In addition, increasing focus on home decoration and DIY is one of the major factors escalating its demand globally.
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The expansion of real estate industry is 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, which includes 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, also 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 any 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.
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 the 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.
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Few players in the shower glass door market are Kohler Co., American Standard Brands, Basco Corporation, Guardian Industries and MAAX Bath Inc., Vigo Industries, Coastal Shower Doors, Aston Global Inc. and Jaguar & Company.
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