DUBLIN--(BUSINESS WIRE)--The "Global Drawer Slides Market - Outlook & Forecast 2024-2029" report has been added to ResearchAndMarkets.com's offering.
The Global Drawer Slides Market was valued at USD 2.6 billion in 2023, and is expected to reach USD 3.51 billion by 2029, rising at a CAGR of 5.13%.
A diverse range of large and small players characterizes the global drawer slides market. These companies actively develop innovative products and invest in research and development initiatives to expand their product offerings. As international players expand their presence in various regions, local manufacturers may face competing challenges. The regional players often focus on specific geographical markets or niche segments where they can offer specialized solutions and personalized services.
APAC dominated the global drawer slides market in 2023 due to the large-scale construction industry and rising disposable income. The booming real estate sector and the growing demand for home and office furniture, where drawer slides are extensively used, contributed significantly to the market's growth. As the world's manufacturing hub, China has many companies producing drawer slides, further boosting the country's market. Furthermore, the urbanization of developing countries in APAC is expected to boost retail sales and the growth of industries. All such factors are expected to propel construction activities in the region. Thus, with the rise in commercial and residential construction, the demand for furnishing products will also grow by supporting the drawer slides market.
Europe holds a significant position in the global drawer slides market. The major markets in Europe include the U.K., Germany, Italy, Spain, and France. Other markets, such as Finland and Poland, are expected to be promising for drawer slides due to the rising purchasing power and increased industrial growth. The growing popularity of DIY in European home improvement projects is also expected to drive the demand. Manufacturers have also introduced lightweight drawer slides to cater to the diverse consumer base in the region. Furthermore, the market in North America is projected to grow significantly in the coming years, owing to the increasing demand for premium and high-quality furniture from the residential sector, rising living standards, and growing home renovation trends.
Expanding Drawer Cabinet Industry
Demand for cabinets globally will be spurred by a strong rebound in residential building construction and design trends promoting more cabinets. Kitchen cabinets continue to claim a large share of square footage in new housing, boosting demand for cabinets as these rooms are the areas of a home where cabinets are most often installed.
Additionally, the National Kitchen and Bath Association (NKBA) reports overall kitchen and bath market forecasts for the latter part of 2023 and into 2024 show cautious optimism regarding sales. Current expectations for NKBA's US Home Remodeling Index point to a Q2 2023 growth rating of 65.5, compared to the year-over-year ratings of 62 in Q2 2022. Thus supporting the growth of the advanced drawer slides market.
Increasing Demand for Full Extension Drawer Slides
Drawer slides form the backbone of efficient cabinetry; full-extension drawer slides reign supreme among these. Unlike traditional drawer slides, full extension drawer slides provide unparalleled access to the entire drawer's depth. This means no more rummaging around for items tucked away at the back. Moreover, full extension drawer slides bring many advantages to storage solutions. These slides go beyond mere accessibility; they redefine organization and convenience. By capitalizing on the entire drawer's depth, drawer slides of the full extension variety amplify storage capacity.
SEGMENTATION INSIGHTS
The global drawer slides market by extension type is segmented into full extension, over travel, partial extension, and two-way extension.
In 2023, the full extension segment dominated the segmental market share. Full extension slides allow drawers to fully extend out of the cabinet, providing easy access to all drawer contents. This makes them highly convenient and user-friendly compared to partial extension or non-extension slides. Also, with space being a premium in modern living and work environments, the ability to fully utilize drawer space is crucial. Full extension slides maximize usable space by extending drawers completely, enabling better organization and storage efficiency.
Based on mounting type, the side mount segment held the most significant share of the global drawer slides market in 2023.
The versatility of side mount drawer slides further contributes to their escalating demand on a global scale. Available in various sizes, materials, and weight capacities, these slides cater to various furniture designs and functionalities, ranging from kitchen cabinets and bathroom vanities to bedroom dressers and office storage units.
In 2023, the ball-bearing mechanism type segment dominated the global drawer slides market, which is expected to grow at a CAGR of over 5% during the forecast period. There is a rising demand for smooth and efficient drawer systems in various applications. Ball-bearing drawer slides offer superior gliding motion and load-bearing capacity, making them ideal for residential and commercial use.
The global drawer slides market by motion type is segmented into soft closing, self-closing, and push-to-open. The soft closing segment dominated the global market share in 2023.
The soft closing drawer slide is growing significantly in today's fast-paced world; consumers highly value convenience. Soft close drawer slides offer the convenience of effortless closing, eliminating the need for users to exert force to shut drawers fully. This convenience factor appeals to many customers, from busy professionals to elderly individuals seeking ease of use in everyday tasks. Further, soft close drawer slides contribute to a safer living environment by reducing the risk of injuries, particularly in households with children or pets.
Further, as technology advances and manufacturing processes become more efficient, the cost of soft close drawer slides has become increasingly affordable. This accessibility has made them more accessible to a broader market segment, driving their widespread adoption in residential and commercial applications.
Based on load type, light-duty drawer slides dominate the global drawer slides market and account for an absolute growth rate of around 36% during the forecast period. Demand for these drawer slides is rising as they are commonly used in applications such as kitchen cabinets, bathroom vanities, home office furniture, and retail displays. They provide smooth and reliable operation for lightweight drawers and storage compartments.
The global drawer slides market by material type is segmented into steel, aluminum, wood, and other materials. The steel segment held the most significant share of the market in 2023.
The demand for steel drawer slides is increasing due to several factors that reflect the evolving needs of industries and businesses. One of the leading factors is steel's robust and durable nature, making it an ideal solution for manufacturing drawer slides. The robust nature of steel allows it to withstand substantial weight for a long term. However, the aluminum segment is growing at a high CAGR due to convenient, cost-effective, and light solutions. Due to the increased prevalence of house ownership, customers often seek storage alternatives that ease the organization and transfer of equipment.
Key Attributes:
| Report Attribute | Details |
| No. of Pages | 334 |
| Forecast Period | 2023 - 2029 |
| Estimated Market Value (USD) in 2023 | $2.6 Billion |
| Forecasted Market Value (USD) by 2029 | $3.51 Billion |
| Compound Annual Growth Rate | 5.1% |
| Regions Covered | Global |
Key Company Profiles
- Titus Group
- Crestview Partners (Accuride International Inc)
- Blum Inc
Other Prominent Vendors
- The Hettich Group
- Grass GmbH & Co.
- Hafele GmbH & Co KG
- Formenti & Giovenzana S.p (FGV)
- King Slide Works Co. Ltd
- Chambrelan
- Guangdong Taiming Metal Products Co., LTD
- Guangdong Dongtai Hardware Group
- Knape & Vogt Manufacturing Company
- ITW Proline (Prestige)
- SALICE
- General Devices
- Jonathan Engineered Solutions (JLL Partners)
- Sugatsune Kogyo Co.
- Maxave Group
- Fulterer AG & CO KG
- Meaton
- King Slide Works Co., Ltd
- Formenti & Giovenzana
- SISO Denmark
- Italik Metalware Pvt Ltd
- V N Enterprises
Scope & Coverage
Market Opportunities & Trends
- Growth in Demand for Luxury Homes
- Surge in Hospitality Industry
- Rise in DIY Culture
Market Growth Enablers
- Increase in Homeownership
- Growth in Demand for Home Organization Storage Solutions
- Rise in Demand for Full Extension Drawer Slides
Market Restraints
- Fluctuations in Raw Materials Prices
- Availability of Drawer Substitutes
Segments Covered & Definition
- Market Segmentation by Extension Type
- Market Segmentation by Mounting Type
- Market Segmentation by Mechanism Type
- Market Segmentation by Motion Type
- Market Segmentation by Load Type
- Market Segmentation by Material Type
- Market Segmentation by Application
- Market Segmentation by End-user
- Regions & Countries Covered
- Market Derivation
- Historic, Base, & Forecast Years
Premium Insights
- Opportunity Pockets
- Regional Insights
- Overview
- Future Market Trends & Enablers
- Growth in Drawer Cabinet Industry
- Increase in Demand for Full Extension Drawer Slides
- Segmentation Analysis
- Extension Type
- Mounting Type
- Mechanism Type
- Load Type
- Regional Insights
- Vendor Landscape
For more information about this report visit https://www.researchandmarkets.com/r/5umo06
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