Global Hardware Market Report 2022 – Market Forecast, Trends And Strategies

The global hardware market is expected to grow from $100.21 billion in 2021 to $108.69 billion in 2022 at a compound annual growth rate (CAGR) of 8.5%. The market is expected to grow to $144.23 billion in 2026 at a CAGR of 7.3%.

What is the Global Hardware Market?

The hardware market consists of the sales of metal hardware by entities (organizations, sole traders or partnerships) that produce metal hardware, such as metal hinges, metal handles, keys, and locks (except coin-operated, time locks).

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What drives the Global Hardware Market?

Metal consumption by the aerospace sector is expected to increase during the forecast period, thus driving the hardware manufacturing market. This is mainly due to the rise in air travel is leading to increased demand for commercial aeroplanes. According to the International Air Transport Association (IATA), there were around 3.8 billion air travellers and this number is expected to rise to 7.2 billion by 2035. Similarly, according to Boeing, approximately 42,730 new jets, valued at $6.3 trillion, will be required over the next 20 years, to meet rising passenger traffic and upcoming aeroplane retirements. This will require significant metal consumption, especially aluminium, which will drive the hardware manufacturing market in the forecast period.

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Global Hardware Market Segments
The global hardware market is segmented:
By Type: Furniture Hardware, Motor Vehicle Hardware, Builder's Hardware, Other Hardware
By End-User: B2B, B2C
By Sales Channel: OEM, Aftermarket
By Geography: The regions covered in the hardware market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, and Africa.

Hardware Global Market Report 2022provides market size and growth forecasts for the global hardware market, global hardware market share, hardware market segments and geographies, hardware market competitive landscape including leading competitors’ revenues, profiles and market shares. The hardware market report identifies top countries and segments for opportunities and strategies based on market trends and leading competitors’ approaches.

Global Hardware Industry Playersinclude Assa Abloy AB, Dormakaba Holding AG, Allegion PLC, Hafele GmbH & Co KG, Blum Inc, Tyman PLC, Hettich Holding GmbH & Co. oHG, Spectrum Brands Holdings Inc, Guangdong KinLong Hardware Products Co. Ltd, and MISUMI Group Inc. Based on industry trends and company analysis, the report explains a number of strategies for companies in the market.