Kitchen and bath sales on the rise
A new report from the National Kitchen & Bath Association projects strong growth for the kitchen and bath industry.
“The Size of Market Study and Outlook” estimates the total kitchen and bath sector rose more than 10% to $163 billion in 2017 and will rise another 9.3% to reach $178 billion in 2018.
The association’s initial study — the first of its kind to define the size of the U.S. residential kitchen and bath market, according to the NKBA — found total market size to be $134.1 billion in 2015. A follow-up study showed the industry had grown to and $147.3 in 2016.
“This dramatic double-digit spike in just one year is a testament to the health of this key industry,” said Bill Darcy, NKBA’s CEO. “It’s a vibrant and growing segment of the economy, and based on our research, our projections indicate that it will continue to thrive.”
The study was developed relying on various sources, including secondary published market information as well as interviews conducted among key professional segments. Additionally, the study represents only products and excludes design services and costs of labor and installation. Data from the 2016 report and collected in the 2017 survey were combined to generate the projections for 2017 and forecast for 2018, the NKBA said.
The overall kitchen and bath segment accounts for about 25% of overall residential construction, according to the NKBA.
Based in Hackettstown, N.J., the NKBA is the not-for-profit trade association that owns the Kitchen & Bath Industry Show, as part of Design and Construction Week. Founded in 1963, the NKBA has nearly 14,000 member companies.
