The U. S. Kitchen and Bath Wood-Based Cabinet Market Size Is $6.997 Billion

Recent research by the Kitchen Cabinet Manufacturers Assn. Reveals the U. S. Kitchen and bath wood-based cabinet market size is $6.997 billion, based on figures for the year ending 2010. The information is based KCMA member companies’ information and incorporation of several third-party sources, including trade magazine reports, government data, industry association data, and leading research studies. A KCMA task force comprised of industry marketing experts reviewed 2009 data from several independent sources to produce a credible market size estimate base. The task force then used the KCMA monthly Trend of Business (TOB) report to calculate a market change percentage from 2009 to 2010. KCMA’s TOB report measures the monthly and year-to-date change of the current year versus the year prior, using data from reporting companies of varying size and geographic distribution. Close to half of the participating companies reported annual sales of $10 million or less, with 11 percent reporting sales exceeding $100 million. “The TOB segmentation replicates the overall industry according to company size as well as a representative mix of local, regional and national manufacturers, ” said Dick Titus, KCMA executive vice president. “The 82 KCMA member companies reporting in the TOB represent just over 66 percent of the total cabinet market based on 2010’s final value reported. ” In stressing the importance of the task force research KCMA notes the establishment of a credible base, along with using the monthly reports to measure change in the broader market, provides an up-to-date estimate of the status of the overall market to assist management decision-making. “While we realize that there is never a definitive or perfect market sizing study, in our estimation, this approach represents a sound and reasonable method for our industry as defined, ” said KCMA President Greg Stoner, MasterBrand Cabinets. “We chose to narrow the focus to ‘residential, wood-based’ cabinets as a more focused view of the market we represent. At the same time, we recognize that there is a non-residential market as well as a cabinet market that is produced via other materials (most notably steel). “Lacking a perfect, single source, we believe that this methodology and definition of the market size provides the most timely and best estimate for the U. S. Wood-based, residential cabinet market, ” he added. Source: woodworkingnetwork