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 Grand View Research, Inc. 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.
Market Share Insights
- LAUFEN BATHROOMS AG,
- Roper Rhodes, Ltd.,
- Zadro Products, Inc.,
- New Home Bath & Mirror Inc.,
- Electric Mirror, Inc.,
- ToiletTree Products, Inc.,
- HiB Ltd.
- WeProFab
- The Shave Well Company
- YD Valve Co. Ltd,
The market is characterized by various well-established players and several small and medium players. These players continuously invest in inorganic and organic growth strategic initiatives to expand their product/service portfolio and to enhance their foothold in the market. Increasing competition at the regional and global levels is leading the market towards consolidation. Also, the global players are establishing manufacturing and distribution networks in developing countries to gain a market presence.
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Product Insights
The stationary fogless mirror segment contributed the highest revenue share of more than 55% in 2020. Fogging is condensing water droplets on the mirror's surface which generally occurs while installed in enclosed spaces. Fogless mirrors help prevent water droplets from concentrating on the surface of the mirror. To avoid the condensation of droplets, fogless mirrors are coated with anti-fogging chemicals on their silver surface.
Vendors in fogless mirror segments continuously adopt various organic growth launching new products with wider features in this category to provide a better experience to their customers. Improved scalability, high efficiency, and reliable performance are among the key factors sustaining the segment competitiveness across the global market.
Regional Insights
North America accounted for a significant market share of 29% in 2020, with the U.S. occupying the position of the dominant revenue contributor in the region. The continuous development, expansion, and renovation of commercial spaces such as hostels, gyms, and households have driven the demand for fogless mirrors in the region. Apart from this, increasing innovation in the raw material used and rising focus on the benefits associated with anti-fog mirrors among the consumers are expected to support the market growth in the forthcoming years.
The Asia Pacific market contributed to the highest share of more than 30% in terms of 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. The increasing population and growing urbanization in countries such as China, India, and other countries are likely to be the key catalysts for the demand for fogless mirrors in the region. Moreover, the expansion of the economy in Asian countries contributed to increasing disposable income, which became a key driver for market growth. Moreover, the robust development of home décor units and bath utilities in the countries such as China, India, and Japan provided the vendors of the market with a key distribution channel to penetrate the rural and urban regions.
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