What Is The Overview Of The Global Metal Furniture Market?
Metal furniture refers to furniture made primarily from metals such as steel, aluminum, iron, or brass. This type of furniture is known for its durability, strength, and often sleek, modern appearance. Metal furniture can be finished in various ways, such as powder coating, painting, or polishing, to enhance its appearance and protect against corrosion. It is suitable for both indoor and outdoor settings in homes, offices, and public spaces.
Metal Furniture Global Market Report 2024 provides data on the global metal furniture market such as market size, growth forecasts, segments and geographies, competitive landscape including leading competitors’ revenues, profiles and market shares. The metal furniture market report identifies opportunities and strategies based on market trends and leading competitors’ approaches.
How Is The Global Metal Furniture Market Expected To Grow In Size And Annual Rates?
The metal furniture market has seen robust growth in recent years. It is anticipated to grow from $143.67 billion in 2023 to $152.52 billion in 2024, representing a CAGR of 6.2%. Growth has been supported by advancements in manufacturing processes, post-industrial design trends, urban development, metal treatment technologies, and increased demand for commercial and institutional furniture. The market is expected to reach $194.74 billion by 2028, at a CAGR of 6.3%. Factors contributing to this include urbanization, growing construction and real estate activity, demand for durable and low-maintenance furniture, the rise of smart homes, and the increasing popularity of office spaces. Trends in the forecast period include technological innovations, rust-resistant coatings, hybrid materials, antimicrobial metal surfaces, and retro-style furniture.
What Main Forces Are Fueling Expansion In The Metal Furniture Market?
The increasing number of workplaces is expected to drive the growth of the metal furniture market. As businesses expand to accommodate a growing workforce, there is an increasing demand for office furniture. A study by Airwallex in 2023 found that 70% of UK-based small and medium-sized enterprises (SMEs) planned to expand into foreign markets, with two-thirds focusing on Europe and North America. The increasing number of workplaces is driving the demand for metal furniture.
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What Are The Primary Segments In The Global Metal Furniture Market?
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
Which Key Trends Are Driving Changes In The Metal Furniture Market?
The metal furniture industry is adopting innovations like fossil-free steel to reduce environmental impact. Fossil-free steel, produced using renewable energy, eliminates reliance on fossil fuels in manufacturing. In June 2023, Vestre, a Norway-based furniture company, in collaboration with Emma Olbers Design from Sweden, launched the Tellus bench made from 100% fossil-free steel. This sustainable product, created using SSAB’s green hydrogen process, significantly reduces carbon emissions and aligns with Vestre's commitment to sustainability, offering a durable and eco-friendly seating solution.
What Is The Leading Region In The Metal Furniture Market?
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.
