DUBLIN--(BUSINESS WIRE)--The "Global Metal Furniture Market by Type, Application and Distribution Channel: Global Opportunity Analysis and Industry Forecast 2021-2028" report has been added to ResearchAndMarkets.com's offering.
The global metal furniture market size was valued at $2,068.7 million in 2020, and is estimated to reach $2,789.3 million by 2028, registering a CAGR of 4.4% from 2021 to 2028.
Rise in technological advancements in furniture propels growth of the global metal furniture market growth. These technological advancements include augmented reality applications, 3D printing, Internet of Things and futon with Bluetooth speaker. Furthermore, rise in the real estate industry drives growth of the global metal furniture market. The real estate industry can be classified into categories such as residential and commercial. The residential segment includes households in which furniture is commonly used. In addition, rise in standard of living, trend for home decor and interior and exterior designing is expected to propel the market growth. Whereas, in commercial institutes, metal furniture plays a vital role in setting ambience and seating arrangements. Commercial institutes include restaurants, offices, hotels, and hospitals.
In current scenario, surge for e-commerce platforms has started gaining traction in the market. In physical stores, metal furniture companies have to incur cost of infrastructure, displaying goods in stores, and product shipping. However, on e-commerce platforms, manufacturers can save these expenses and can display a large variety of products on websites. In addition, attractive offers, coupon codes and discounts influences customers to shop through these platforms. E-commerce companies are making their websites more user-friendly, which improves customer experience while shopping.
According to the global metal furniture market analysis, the market is segmented by type, application, distribution channel, and region. On the basis of type, the global metal furniture industry is categorized into bed, sofa, chair, table, and others. On the basis of application, it is segmented into commercial and residential. By distribution channel, it is segregated into direct distribution, supermarket/hypermarket, specialty stores, and e-commerce. Region-wise, it is analyzed across North America (the U.S., Canada, and Mexico), Europe (Germany, the UK, France, Italy, Spain and rest of Europe), Asia-Pacific (China, India, Japan, Australia, South Korea, and rest of Asia-Pacific), and LAMEA (Latin America, the Middle East, and Africa)
Key Benefits
- The study provides an in-depth analysis of the global metal furniture market share, with current and future trends to elucidate the imminent investment pockets in the market.
- The report provides information regarding drivers, restraints, and opportunities with impact analysis.
- A quantitative analysis from 2020 to 2028 is provided to showcase the financial competency of the market.
- Porter's five forces model of the industry illustrates competitiveness of the market by analyzing various parameters such as threat of new entrants, threat of substitutes, bargaining power of the buyers, and bargaining power of the suppliers operating in the market.
- Value chain analysis in the report provides a clear understanding of the roles of stakeholders involved in the value chain.
- Competitive intelligence highlights business practices followed by leading market players across various regions.
Market Dynamics
Drivers
- Increase in consumer interest towards home decor
- Rapid growth of online retail platform
- Increase in the number of offices
Restraints
- Increase in cost of raw materials
Opportunities
- Increasing standard of living due to rise in the disposable income
- Emergence of customized furniture and technology
Companies Mentioned
- Chyuan Chern Furniture Co. Ltd.
- Cymax Group Inc.
- DHP Furniture
- Godrej Furniture
- Hillsdale Furniture
- Inter IKEA systems B.V.
- Meco Corporation
- Oliver Metal Furniture
- Simpli Home
- Zinus
For more information about this report visit https://www.researchandmarkets.com/r/5jonzp
