The metal furniture global market report 2024 from The Business Research Company provides comprehensive market statistics, including global market size, regional shares, competitor market share, detailed segments, trends, and opportunities. This report offers an in-depth analysis of current and future industry scenarios, delivering a complete perspective for thriving in the industrial automation software market.
Metal Furniture Market, 2024 report by The Business Research Company offers comprehensive insights into the current state of the market and highlights future growth opportunities.
Market Size –
The metal furniture market size has grown strongly in recent years. It will grow from $143.67 billion in 2023 to $152.52 billion in 2024 at a compound annual growth rate (CAGR) of 6.2%. The growth in the historic period can be attributed to the evolution of manufacturing processes, post-industrial design trends, economic booms in urban development, advancements in metal treatment technologies, and the rise of commercial and institutional furniture needs.
The metal furniture market size is expected to see strong growth in the next few years. It will grow to $194.74 billion in 2028 at a compound annual growth rate (CAGR) of 6.3%. The growth in the forecast period can be attributed to increasing urbanization, increasing construction and real estate activities, growing demand for durable and low-maintenance furnishings, rising popularity of smart homes, and rising popularity of office spaces. Major trends in the forecast period include technological advancements, rust-resistant coatings, hybrid materials, adoption of antimicrobial metal surfaces, and retro-style metal furniture.
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Scope Of Metal Furniture Market
The Business Research Company’s reports encompass a wide range of information, including:
1. Market Size (Historic and Forecast): Analysis of the market’s historical performance and projections for future growth.
2. Drivers: Examination of the key factors propelling market growth.
3. Trends: Identification of emerging trends and patterns shaping the market landscape.
4. Key Segments: Breakdown of the market into its primary segments and their respective performance.
5. Focus Regions and Geographies: Insight into the most critical regions and geographical areas influencing the market.
6. Macro Economic Factors: Assessment of broader economic elements impacting the market.
Metal Furniture Market Overview
Market Drivers –
The increasing number of workplaces is expected to propel the growth of the metal furniture market. Demand for expanding companies and businesses refers to an organization’s efforts to develop or widen its range of operations and boost revenue. The organization’s growth will increase the demand for new workers to complement their expanded operations, which requires additional office space and furniture to accommodate the new employees. For instance, according to a study conducted on 500 UK-based small and medium-sized enterprises (SMEs) in November 2022 conducted by Airwallex, a UK-based fintech company, in 2023, 70% of businesses plan to expand into or even further expand into foreign markets. Out of the polled numbers, two-thirds (64%) will focus on Europe and North America, while one-third (34%) are ready to grow into the Middle East, Latin America, Africa, and Asia-Pacific. Therefore, the increasing number of workplaces will drive the growth of the metal furniture market.
Market Trends –
Major companies operating in the metal furniture market are developing innovative products, such as fossil-free steel furniture, to reduce carbon emissions and environmental impact. Fossil-free steel furniture is made from steel produced using renewable energy sources and sustainable methods, eliminating reliance on fossil fuels in the manufacturing process. For instance, in June 2023, Vestre, a Norway-based furniture manufacturing company, and Emma Olbers Design, a Sweden-based design company, launched the Tellus bench, which is notable for being crafted from 100% fossil-free steel. This innovative material is produced by SSAB using a process that employs green hydrogen instead of coal, resulting in zero carbon emissions during production. The Tellus bench represents a significant milestone as it is the first piece of furniture made entirely from this sustainable steel. The use of fossil-free steel aligns with Vestre’s commitment to sustainability and aims to reduce its overall carbon footprint by approximately 60%. The bench features a timeless and inviting design for public spaces such as parks. It includes wide armrests for comfort and functionality.
The metal furniture market covered in this report is segmented –
1) By Type: Bed, Chair, Sofa, Table, Other Types
2) By Material: Steel Furniture, Aluminum Furniture, Wrought Iron Furniture
3) By Distribution Channel: E-Commerce, Supermarket And Hypermarket, Specialty Stores, Online Stores
4) By Application: Residential, Commercial
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Regional Insights –
North America was the largest region in the metal furniture market in 2023. Asia-Pacific is expected to be the fastest-growing region in the forecast period. The regions covered in the metal furniture market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa.
Key Companies –
Major companies operating in the metal furniture market are Inter IKEA Systems B.V., Herman Miller Inc., Steelcase Inc., HNI Corporation, KOKUYO Co. Ltd., Teknion Corporation, Bernhardt Furniture Company, Nilkamal Limited, Allsteel Inc., HBF LLC, Vanguard Furniture Company Inc., Davis Furniture Industries Inc., Zinus Inc., Dorel Home Products Furniture, Hillsdale Furniture LLC, Martin Brattrud Inc., Nienkämper Furniture & Accessories Inc., Meco Corporation, Simpli Home Ltd., Godrej Interio, Hussey Seatway Ltd., Lorena Canals SL, Oliver Metal Furniture Co. Ltd., Zuari Furniture
Table of Contents
1. Executive Summary
2. Metal Furniture Market Report Structure
3. Metal Furniture Market Trends And Strategies
4. Metal Furniture Market – Macro Economic Scenario
5. Metal Furniture Market Size And Growth
…..
27. Metal Furniture Market Competitor Landscape And Company Profiles
28. Key Mergers And Acquisitions
29. Future Outlook and Potential Analysis
30. Appendix
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