What Is The Current and Historic Market Size Analysis Of The Metal Furniture Market?
The metal furniture market has seen considerable growth due to a variety of factors.
• In recent times, there has been a significant increase in the size of the metal furniture market. It is anticipated that this market will expand from $152.52 billion in 2024 to $162.54 billion in 2025, reflecting a compound annual growth rate (CAGR) of 6.6%.
The impressive growth during the historical period is attributable to a combination of factors including, the refinement of manufacturing techniques, modern post-industrial design trends, economic prosperity fueling urban development, advancement in technologies for metal treatment, and the surge in demand for commercial and institutional furniture.
What are the Market Size and Expected Growth Rates for the Metal Furniture Market?
The metal furniture market is expected to maintain its strong growth trajectory in upcoming years.
• The market size of metal furniture is predicted to experience robust expansion in the ensuing years. The market is set to burgeon to $206.74 billion by 2029, with a compound annual growth rate (CAGR) standing at 6.2%.
The pronounced growth during this forecast period can be credited to factors such as accelerating urbanization, increases in construction and real estate activity, heightened demand for resilient, low-maintenance furniture, a surge in the popularity of smart homes and the appeal of office spaces. The period in question is also expected to see significant trends, including technological innovation, rust-resistant finishes, the use of hybrid materials, the incorporation of antimicrobial metal surfaces, and a revival in the prevalence of retro-style metal furniture.
Which Key Drivers Are Propelling The Metal Furniture Market's Growth?
The surge in workplace numbers is projected to fuel the expansion of the metal furniture market. The push for growth in companies and businesses involves the organization's drive to broaden its operation spectrum and enhance its revenue. The demand for new employees necessary for these enlarged operations will increase, necessitating extra office space and furniture for the newcomer's accommodation. For example, a November 2022 study of 500 UK-based small and medium-sized enterprises (SMEs) by Airwallex, a fintech firm from the UK, showed that 70% of companies aim to stretch their reach into foreign markets, or further penetrate them in 2023. Of the surveyed businesses, a majority (64%) will target Europe and North America, whereas one-third (34%) are prepared to expand into the Middle East, Latin America, Africa, and the Asia-Pacific. Therefore, the uptick in the number of workplaces is a significant catalyst for the growth of the metal furniture market.
What Are The Key Segments Within The Global Metal Furniture Market?
The metal furnituremarket 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
Subsegments:
1) By Bed: Metal Bed Frames, Bunk Beds, Canopy Beds, Folding Beds
2) By Chair: Metal Dining Chairs, Office Chairs, Outdoor Chairs, Accent Chairs
3) By Sofa: Metal Frame Sofas, Sectional Sofas, Sofa Beds
4) By Table: Metal Dining Tables, Coffee Tables, Console Tables, Side Tables
5) By Other Types: Metal Cabinets, Metal Desks, Metal Shelving Units, Metal Storage Solutions
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What New Trends Are Influencing The Metal Furniture Market?
Leading businesses in the metal furniture market are pioneering new products like fossil-free steel furniture to mitigate carbon emissions and their impacts on the environment. This type of furniture is manufactured using renewable energy sources and sustainable methods, doing away with the use of fossil fuels in the production phase. For example, Vestre, a furniture manufacturing company from Norway, collaborated with Emma Olbers Design, a Swedish design company, to introduce the Tellus bench in June 2023. What makes the bench exceptional is that it is made solely from 100% fossil-free steel, a unique material produced by SSAB using a process that replaces coal with green hydrogen, resulting in zero carbon emissions throughout production. The bench is considered a substantial achievement as it's the first ever furniture piece to be made completely out of this eco-friendly steel. Vestre's implementation of fossil-free steel aligns with its dedication to sustainability and targets to decrease its carbon footprint by around 60%. The Tellus bench, designed for public places like parks, boasts a timeless appeal and comes with wide armrests for added comfort and practicality.
Who Are the Key Players In The Metal Furniture Market?
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
What Are The Regional Insights Into The Metal Furniture Market?
North America was the largest region in the metal furniture market in 2024. 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.
