The North American shower glass door market generated a revenue of $3,493.4 million in 2020 and it is predicted to advance at a CAGR of 7.6% between 2021 and 2030. According to the forecast of the market research company, P&S Intelligence, the market will attain a valuation of $7,151.7 million by 2030. The major factors driving the market advancement are the rising urbanization rate, the growth of the real estate sector, and the expansion of the tourism and hospitality industry.
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The increasing urbanization rate is one of
the major factors propelling the expansion of the market. In this region, the
urban population has grown at an explosive pace over the last few years and
this trend is predicted to continue in the coming years. As per the 2018
Revision of World Urbanization Prospects produced by the United Nations Department
of Economic and Social Affairs (UNDESA), nearly 68% of the global population
will live in towns and cities by 2050.
The North American shower glass door
market recorded the highest growth in the U.S. in the past years. Moreover,
the market will demonstrate the fastest growth in the U.S. in the coming years.
This is ascribed to the fact that the urban population of the country has grown
massively over the last few years, on account of the surging employment opportunities
and disposable income of the people residing in the country.
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Hence, it can be said with full confidence
that the market will register huge expansion in the forthcoming years, mainly
because of the rising disposable income of people and the increasing
urbanization rate in the region.
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