Bathroom Remodeling Spending to Grow Nearly 5% Annually Through 2022

US bathroom remodeling spending is projected to rise 4.9% annually to $33.9 billion in 2022. Gains will be driven by a high level of homeowner interest in remodeling or adding bathrooms. Flooring is expected to see the fastest growth as homeowners opt for low-cost LVT and slip-resistant porcelain and stone tile. Plumbing will account for the largest share of bathroom renovation spending growth through 2022 with 43% of the total. These and other trends are presented in Home Kitchen & Bathroom Remodeling, a new study from The Freedonia Group, a Cleveland-based industry research firm.

The replacement of existing cabinets and the installation of new cabinetry are integral to most bathroom renovation projects. Expenditures on cabinets used in bathroom renovation projects are forecast to rise 4.3% per year to $3.4 billion in 2022:

• Cabinet product sales will grow 3.9% annually through 2022 as homeowners install more and larger cabinets – especially vanities – in bathrooms.
• Installation revenues will see above average gains as homeowners opt for master bathrooms with more cabinets – such as his-and-her vanities – that require more complex installations.

Spending on countertops installed as part of bathroom renovations is expected to climb 3.4% annually to $7.1 billion in 2022:

• Bathroom countertop product sales will rise 3.0% per year through 2022, boosted by consumer interest in using high-value countertop materials such as engineered and natural stone.
• Bathroom countertop installation revenues will advance as homeowners more frequently opt for intricate countertops that are more difficult to install.

Home Kitchen & Bathroom Remodeling (published 3/2018, 175 pages) is available for $4900 from The Freedonia Group. For further details or to arrange an interview with the analyst, please contact Corinne Gangloff by phone 440.684.9600 or email [email protected].

Related studies include:

#3611 LEDs & Other High-Efficiency Lighting in the US, 5nd Edition (March 2018)

#3606 Countertops Market in the US, 5th Edition (February 2018)