FELTON, Calif., May 25, 2021 /PRNewswire/ — The global Fogless Mirror Market size is expected to reach USD 576.6 million by 2028, registering a CAGR of 5.8% over the forecast period, according to a new report by Million Insights.
What are Key Factors Driving the Fogless Mirror Market?
Over the past few years, there has been a significant increase in bathroom renovation expenditure globally, especially in the Asia Pacific region, due to the continuous inflow of evolved designs in bathroom Vanities. These expenditures are projected to outpace other housing development expenditures in the coming years. The trend is expected to emerge as a key driving factor for the market growth.
The stationary segment contributed to the highest revenue share of more than 55.07% in 2020 and is expected to escalate at a significant CAGR over the forecast period. Stationary Fogless product finds application in both household and commercial application as anti-fog mirrors help prevent water droplets from condensing on the mirror surface, thus helping the individual get a clear refection even after bathing in an enclosed area.
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The Asia Pacific market contributed to the highest share of more than 30.82% in the global market revenue in 2020 and is projected to register a substantial CAGR over the forecast period, with China being the major revenue contributor to the regional market growth. Countries such as China and India are lucrative hubs for economic activities in the region. Hence, several international brands significantly invest in these countries, owing to which there has been tremendous growth of the hospitality sector in these countries. Thus, the growing construction of a luxurious hotel eventually drives the demand for fogless mirrors, as these products help prevent water droplets from condense on the mirror surface and provide clear reflection.
The leading manufacturers include Geberit AG, Roca, Nilkamal, Duravit, Laufen Bathrooms AG, W. Schneider+Co AG, HiB, Emco group, Roper Rhodes Ltd, and FAB Glass are investing in R&D activities to enhance the technical and economic aspects of the fogless mirror. Vendors adopt various organic and inorganic strategies such as new product offerings, mergers and acquisitions, and collaborations to enhance their foothold in the industry and expand their product portfolio.
Key Questions Answered in the Fogless Mirror Market Report:
Which Region Dominated the Fogless Mirror Market Share in 2020?
- Asia Pacific dominated the market by contributing over 30.82% to the global revenue in 2020. China accounted for the largest market share of 26.06% in 2020, followed by India and Japan. Growing demand for the anti-fog mirror from commercial applications such as gyms and hospitals has contributed to the regional growth.
Which Segment Accounted for the Largest Fogless Mirror Market Share in 2020?
- Household application contributed to the highest share of more than 58.55% in the global revenue in 2020 and is projected to register a substantial growth rate over the forecast period.
How Fast is the Fogless Mirror Market Growing in Europe?
- Europe is expected to register a CAGR of 5.7% CAGR from 2021 to 2028 owing to the increasing adoption of the product owing to the increasing disposable income.
Why the Commercial Segment of the Fogless Mirror Hold the Largest Market Share in 2020?
- The commercial segment held a market share of more than 40% in 2020 and is projected to register the highest CAGR over the forecast period.
Browse 85 page research report with TOC on “Global Fogless Mirror Market” at: https://www.millioninsights.com/industry-reports/global-fogless-mirror-market
Million Insights has segmented the global fogless mirror market based on product, application, and region:
- Fogless Mirror Product Outlook (Revenue, USD Million, 2017 – 2028)
- Fogless Mirror Application Outlook (Revenue, USD Million, 2017 – 2028)
- Fogless Mirror Regional Outlook (Revenue, USD Million, 2017 – 2028)
- North America
- Europe
- Asia Pacific
- Central & South Americ
- Middle East & Africa
- List of Key Players of Fogless Mirror Market
- Geberit AG
- Roca
- Nilkamal
- Duravit
- Laufen Bathrooms AG
- W. Schneider+Co AG
- HiB
- Emco group
- Roper Rhodes Ltd
- FAB Glass
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