According to the latest report by IMARC Group, titled " Metal Furniture Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2023-2028," the global metal furniture market reached a value of US$ 145.6 Billion in 2022. Metal furniture is generally manufactured from stainless steel, aluminum, and iron. It is widely adopted as a preferred alternative to plastics and wood counterparts owing to its durable, recyclable, and eco-friendly properties. It is extensively used across commercial and residential segments for enhancing the aesthetic appearance of a space. Additionally, it is commonly available in antique wrought iron to cutting-edge and minimalist chrome variants that help develop a unique blend and balance of style. As a result, it is widely utilized for outdoor furnishings, including patios and decks, and indoor furnishings for living and bedrooms.
Global Metal Furniture Market Trends:
The global market is primarily driven by the changing lifestyle patterns of the masses. In line with this, the inflating disposable income levels of individuals and the widespread adoption of premium quality product variants that offer enhanced comfort are providing a boost to the market growth. Moreover, numerous manufacturers are heavily investing in the manufacturing of modern design furniture, which is gaining widespread prominence across the globe. Furthermore, rising investments by public and private firms in infrastructural development and remodeling projects are creating a positive outlook for the market. The market is further driven by the easy product availability via online and offline organized retail channels and continuous improvements in the e-commerce infrastructure. Other factors, including rapid urbanization, the increasing demand for intricately designed and customized metal furniture, and the shifting consumer preference towards replacing aging furniture with contemporary furnishings, are further projected to contribute to the market growth. On account of the aforementioned factors, the market is anticipated to exhibit a CAGR of 4.1% during 2023-2028.
- On the basis of the type, the market has been segmented into beds, sofas, chairs, tables and others.
- Based on the distribution channel, the market has been categorized into supermarkets and hypermarkets, direct distribution, specialty stores and online stores.
- On the basis of the application, the market has been bifurcated into commercial and residential.
- Based on the region, the market has been divided into North America (the United States and Canada), Asia-Pacific (China, Japan, India, South Korea, Australia, Indonesia and others), Europe (Germany, France, the United Kingdom, Italy, Spain, Russia and others), Latin America (Brazil, Mexico and others) and the Middle East and Africa.
- The competitive landscape of the market has been studied in the report with the detailed profiles of the key players operating in the market. Some of these players include Alderman Tooling Ltd, Chyuan Chern Co. Ltd., DHP Furniture, Godrej Interio, Herman Miller Inc., Hillsdale Furniture, Inter IKEA Systems B.V., KinouWell Furniture, KOKUYO CO. LTD., Oliver Metal Furniture, Simpli Home and Steelcase Inc.
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