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Dive into this blog to explore the dynamic growth, sweeping trends, and key players that are shaping the global wetroom market.
The wetroom market is a dynamic and rapidly evolving sector, with a host of fascinating statistics that reflect its growth and development.
In 2020, the global wetroom market size was valued at $21.57 billion, and it’s projected to reach $26.04 billion by 2027, growing at a CAGR of 2.7% from 2021 to 2027.
This surge is largely attributed to the increasing demand for luxurious and spacious bathrooms in residential and commercial properties.
Additionally, the rise in renovation and remodeling activities worldwide is significantly contributing to the market growth.
This article delves into all these details, providing a comprehensive overview of the wetroom market statistics.
Wetroom waterproofing solutions market worth $8.3 billion by 2028
The value attributed to wetroom waterproofing solutions is impressive, set to reach a staggering $8.3 billion by the end of 2028. This is indicative of the popularity and demand of wetrooms. Growing preferences for stylish and practical bathrooms drive the market. Aiding in this growth are factors such as easy maintenance, sleek appearance, and the fact that they are a great solution for smaller spaces.
The increasing interest in home renovation and desire for upgraded bathrooms further motivate this trend.
The market is expected to grow CAGR of 5.4% by 2028
Riding the wave of consumer preference for open, multifunctional bathroom spaces, the projected compound annual growth rate (CAGR) underscores this rising trend. By 2028, a steady growth of 5.4% is anticipated in the wetroom market. Such an increment illustrates the increasing adoption and demand for wetroom solutions, reflecting an inevitable shift in home decor and interior designing patterns.
This substantial increase also signifies opportunities for businesses jumping onto the wetroom bandwagon, ultimately pushing market expansion in the future.
The smart bathroom market size was valued at $3,774.6 million in the previous year
Just a year ago, the quantified worth of the smart bathroom sector reached an impressive $3,774.6 million. This encapsulates an array of smart products and systems, including digital faucets, smart showers, automatic toilets, and advanced wet room installations.
This rising value signifies a favorable consumer shift towards tech-savvy home upgrades, with wet rooms playing a significant role in the trend. Such progressive bathroom remodeling contributes significantly to this multi-million dollar market, uplifted by the ever-growing allure of smart homes and life-enhancing technology.
$9000 is the average cost to install a wetroom
Bearing in mind the investment, homeowners can expect to commit an average of $9000 for the installation of a wetroom. This cost includes all the crucial components such as waterproofing, tiles, drainage, and labor. High-end finishes and fixtures, as well as other complexities like underfloor heating, could potentially push the cost higher. It’s essential to account for these elements when budgeting for a wetroom construction or upgrade.
You can save up to $1000 to $6000 on labor by doing a wetroom project on your own
Opting for a DIY wetroom project can yield significant savings in labor costs. This tactic aligns with the increasing penchant for homeownership ‘do-it-yourself’ (DIY) tasks.
Broadly, the range of potential savings fluctuates between $1,000 and $6,000, pivoting on the complexity and size of the project. Notably, these figures hinge on the premise that the individual undertaking the DIY project has a considerable understanding of home improvement projects.
It’s essential to underline the significance of precision, quality, and adherence to construction regulations, as any errors may result in unanticipated repair costs down the line. Thus, before embarking on this task, acquiring a detailed grasp of installation techniques, procedures, and potential challenges is crucial.
Consequently, a well-executed DIY wetroom project can be financially rewarding.
Expect to pay about $30 per sqft of surface area to install a wet room on average
For a standard installation, the typical financial investment revolves around the $30 per square foot range. This figure is an average, and actual costs can fluctuate based on multiple factors. These include the type of materials chosen, the complexity of the layout, the geographic location, and the current state of the pre-existing bathroom.
It’s important to note that these costs can be reduced if homeowners choose to undertake some tasks themselves, but certain elements of the installation should be left to professionals to ensure a watertight and durable finish.
Doing a DIY wetroom installation costs as little as $2000
A surprising cost-effective approach to wetroom installation can be found in adopting a do-it-yourself methodology. This is particularly attainable for those with some handy skills up their sleeves.
The cost incurred can be as economical as $2000, making it an appealing option for homeowners who are willing to dedicate some time and effort into the project. This price estimation encapsulates all essentials including waterproof underlayment, shower tray, linear drain, as well as tile and fixtures.
Of course, this range is conditional on the chosen materials’ quality and the current condition of the bathroom. However, despite these factors, this budget-friendly alternative is becoming more popular among homeowners who are conscious of expenditure and comfortable engaging in some home renovation.
48% of homeowners remodel their bathrooms to make room for other features
Emerging lifestyle changes are influencing homeowners to reassess their space. Data shows that almost half of them are choosing to revamp their bathrooms. The primary objective of these remodelings is to accommodate other functional features, increasing utility and enhancing aesthetic appeal. This trend not only improves the living experience but also significantly boosts the property’s resale value. Consequently, this surge in bathroom renovations is indirectly propelling the growth of the wetroom industry.
A standard bathroom remodel costs between $6,600 and $16,800
Renovating a typical bathroom involves a variety of tasks including plumbing, electrical work, and tile installation, among others.
Averagely, this would set homeowners back between $6,600 and $16,800, depending on the scale and type of modifications.
Upgraded fixtures, custom cabinetry, and high-end materials can push these figures higher.
It’s important to note that costs vary significantly based on location and chosen professionals, demanding meticulous planning and budgeting.
Wet rooms maximise smaller space and areas
Capitalising on smaller spaces effectively, wet rooms offer optimal utility and style. A key advantage lies in their design which eliminates the need for enclosures, typically required by standard showers. This provides a more open and integrated feel, making the most of every square foot.
Unlike conventional bathrooms where fixtures are confined to designated areas, wet rooms allow for flexible positioning of amenities such as showers, basins, and toilets. Moreover, the absence of a shower tray or partitioning means a continuous, seamless flooring – a design feature that visually enhances the sense of space.
Notably, the introduction of wet rooms has presented a solution for properties with space constraints. They are increasingly being adopted in small urban homes, studio apartments, and compact luxury suites. By transforming limited areas into functional, stylish spaces, wet rooms represent a smart choice for maximising the utility of smaller spaces.
References:
- https://www.marketsandmarkets.com/
- https://www.prnewswire.com/
- https://www.angi.com/
- https://www.alliedmarketresearch.com/
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