Size of the metal furniture market worth USD 210 billion by 2030
Rising demand for premium quality, comfortable and aesthetically pleasing luxury furniture to drive the growth of the metal furniture market.
Newark, May 02, 2022 (GLOBE NEWSWIRE) — According to report published by The Brainy Insights, the global metal furniture market is expected to grow from USD 145 billion in 2021 to USD 210 billion by 2030, growing at a CAGR of 4. 2% over the forecast period 2022-2030.
The importance of home and office decoration is gaining momentum in the contemporary world. Home and office decor reflects the personality, emotions, moods, values, thoughts, and beliefs of a person or organization. They can change the mood, create a comfortable space and facilitate productive work.
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Home and office decor can also be multi-functional, making optimal use of space and resources while maintaining aesthetic appeal. Consumers today are aware of climate change and believe in making sustainable purchasing choices. Furniture is an integral part of decoration. Metal furniture is environmentally friendly, has aesthetic appeal, can be molded to suit consumers’ contemporary style, and is versatile, durable, shiny, and low maintenance. They cater to consumer needs and hence will increase significantly over the forecast period with the rising popularity of home and office decoration. The automation and digitization of office spaces and homes has made it easier to incorporate technology into furniture. The integration allows consumers to change prints and colors and control furniture operations and functions. These smart features will provide lucrative opportunities for the metal furniture market. Metals are heavy by nature, which makes their movement a restrictive and difficult process. They also heat up quickly when exposed to higher temperatures. These factors can hinder the growth of the market. However, the use of alloys, a mixture of metals, to reduce the weight and heating capacity of metals can overcome these shortcomings and expand the metal furniture market.
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To strengthen their position in the global metal furniture market, the major players are now focusing on adopting strategies such as product innovations, mergers and acquisitions, recent developments, joint ventures, collaborations, and partnerships.
• American furniture brand Steelcase has launched an updated version of the Please chair. The product incorporates contemporary styling with breathable mesh in the back to provide exceptional comfort. The chair was developed after a study conducted by observing people who work long hours. The chair mimics the movement of the spine and reduces tension and stress on the back. Such a pragmatic approach to everyday furniture design helps Steelcase retain its market share.
Market growth and trends
Growing demand for high-end and luxury furniture accompanied by durable features will drive the demand for the metal furniture market. Metal furniture is made from reclaimed wood pallets, wood, bamboo and seagrass making it eco-friendly and recyclable. The aesthetic appeal, durable and comfortable features of metal furniture are likely to contribute significantly to the growth of the global metal furniture market. The ductile and malleable properties make it easy to create metal furniture in different shapes, sizes and colors to suit the contemporary style of the growing urban population. Lifestyle changes with busy daily schedules have created the need for low maintenance yet sophisticated products. Metal furniture is easy to clean, can tolerate chemicals, has a high resistance to termites and bed bugs, and is durable, which increases its lifespan. Metal furniture is low maintenance and a great long-term investment. They are customizable and multifunctional with an aesthetic appeal that adapts to the consumer’s space. It can also withstand extreme weather conditions. The incorporation of technology into metal furniture to make it versatile with changing virtual digital prints, remote controlled operations and enhanced functions has increased its popularity. The low maintenance, contemporary style, durability, comfort and smart features of metal furniture suit the busy lifestyles of the urbanized population, contributing significantly to the growth of the global metal furniture market.
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• In 2021, the commercial segment dominated the market with the largest market share of 67% and revenue of 97.15 billion.
Application segment is divided into commercial and residential. In 2021, the commercial segment dominated the market with the largest market share of 67% and a revenue of 97.15 billion.
• The table segment is expected to grow at the fastest CAGR of 4.8% over the forecast period.
The type segment is divided into table, chair, bed, sofa and others. During the forecast period, the table segment is expected to grow at the fastest CAGR of 4.8%.
• In 2021, the specialty store segment accounted for the largest share of the market, with 34% and a turnover of 49.30 billion.
The distribution channel segment is divided into supermarkets/hypermarkets, online stores, convenience stores, specialty stores and others. In 2021, the specialty store segment accounted for the largest market share, with 34% and a turnover of 49.30 billion. Specialty stores offer a narrow range of products with extensive ranges and varieties of these products. They organize the top and top brands of a product. Specialty stores are designed for a personalized customer experience. Customers have the luxury of choosing the best of the best from specialty stores and meeting their functional requirements along the way.
Regional Segment Analysis of Metal Furniture Market
• North America (United States, Canada, Mexico)
• Europe (Germany, France, United Kingdom, Italy, Spain, Rest of Europe)
• Asia-Pacific (China, Japan, India, rest of APAC)
• South America (Brazil and rest of South America)
• The Middle East and Africa (UAE, South Africa, Rest of MEA)
Among all regions, Asia-Pacific has emerged as the largest market in the global metal furniture market, with a market share of around 32% and 46.40 billion in market revenue in 2021. Pacific is expected to be the largest market during the forecast period. The metal furniture market in Asia-Pacific is expanding rapidly. China dominates metal furniture in the Asia-Pacific region. The real estate sector in the Asia-Pacific region has grown rapidly to meet the housing needs of the people. The commercial real estate sector is also booming with the boom in construction of office space and other recreational amenities. Metal furniture finds application in housing complexes, offices and other commercial spaces due to its durable, comfortable and aesthetic nature. Consequently, the booming real estate sector will be followed by a booming metal furniture market.
Leading players operating in the global metal furniture market are:
• Godrej Furniture
• Cymax Group Inc.
• Hillsdale Furniture
• Simplified reception
• Chyuan Chern Furniture Co.Ltd.
• Meco Corporation
• DHP furniture
• Steelcase Inc.
This study forecasts revenue at global, regional and country level from 2019 to 2030. The Brainy Insights has segmented the global metal furniture market based on the segments mentioned below:
Global Metal Furniture Market by Application:
Global Metal Furniture Market by Type:
Global Metal Furniture Market by Distribution Channel:
• Convenience stores
• Specialty stores
• In line
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About the report:
The global metal furniture market is analyzed on the basis of value (USD billion). All segments have been analyzed on a global, regional and country basis. The study includes analysis of more than 30 countries for each part. The report offers an in-depth analysis of the drivers, opportunities, restraints and challenges to gain a critical overview of the market. The study includes Porter’s Five Forces Model, Attractiveness Analysis, Commodity Analysis, Supply, Demand Analysis, Competitor Position Grid Analysis, distribution and marketing channel analysis.
About The Brainy Insights:
The Brainy Insights is a market research company, aiming to provide businesses with actionable insights through data analytics to improve their business acumen. We have a robust forecasting and estimating model to meet customers’ high-quality production goals in a short period of time. We provide custom (customer specific) and syndicated reports. Our union reporting repository is diverse across all domain categories and subcategories. Our customized solutions are designed to meet customer needs, whether they are looking to expand or planning to launch a new product in the global market.