PUBLISHER: The Business Research Company | PRODUCT CODE: 1608772
PUBLISHER: The Business Research Company | PRODUCT CODE: 1608772
Metal furniture refers to items constructed mainly from metals such as steel, aluminum, iron, or brass. This category of furniture is recognized for its robustness, longevity, and frequently sleek, contemporary look. To improve its aesthetic appeal and protect against corrosion, metal furniture can be finished through various methods, including powder coating, painting, or polishing. It is appropriate for use in indoor and outdoor environments, including homes, offices, and public areas.
The primary categories of metal furniture include beds, chairs, sofas, tables, and more. A metal bed is a bed frame predominantly made of metal, usually steel or iron, known for its durability and available in a range of styles from minimalist to elaborate. This type of furniture encompasses different materials such as steel, aluminum, and wrought iron, and is available through various distribution channels, including e-commerce platforms, supermarkets, hypermarkets, specialty shops, and online retailers. It finds applications in both residential and commercial spaces.
The metal furniture market research report is one of a series of new reports from The Business Research Company that provides metal furniture market statistics, including metal furniture industry global market size, regional shares, competitors with a metal furniture market share, detailed metal furniture market segments, market trends and opportunities, and any further data you may need to thrive in the metal furniture industry. This metal furniture market research report delivers a complete perspective of everything you need, with an in-depth analysis of the current and future scenario of the industry.
The metal furniture market size has grown strongly in recent years. It will grow from $143.67 billion in 2023 to $152.52 billion in 2024 at a compound annual growth rate (CAGR) of 6.2%. The growth during the historical period can be linked to the development of manufacturing techniques, trends in post-industrial design, economic surges in urban expansion, innovations in metal treatment processes, and the increasing demand for commercial and institutional furniture.
The metal furniture market size is expected to see strong growth in the next few years. It will grow to $194.74 billion in 2028 at a compound annual growth rate (CAGR) of 6.3%. The anticipated growth in the forecast period is driven by rising urbanization, heightened construction and real estate activities, an increasing preference for durable and low-maintenance furniture, the growing trend of smart homes, and the popularity of office environments. Key trends expected in the forecast period include advancements in technology, rust-resistant coatings, the use of hybrid materials, the adoption of antimicrobial metal surfaces, and the resurgence of retro-style metal furniture.
The growing number of workplaces is projected to drive the expansion of the metal furniture market. This demand stems from organizations seeking to develop or broaden their operations and increase revenue. As companies grow, they require more employees, leading to a need for additional office space and furniture to accommodate these new workers. For example, a study by Airwallex in November 2022 surveyed 500 UK-based small and medium-sized enterprises (SMEs) and found that in 2023, 70% plan to expand into foreign markets. Of those surveyed, 64% will target Europe and North America, while 34% aim to enter the Middle East, Latin America, Africa, and Asia Pacific. Thus, the rise in workplaces is set to boost the metal furniture market.
Key players in the metal furniture market are innovating with products such as fossil-free steel furniture to mitigate carbon emissions and environmental impacts. This type of furniture is crafted from steel produced through renewable energy sources and sustainable methods, eliminating reliance on fossil fuels during manufacturing. For instance, in June 2023, Vestre, a Norwegian furniture manufacturer, and Emma Olbers Design, a Swedish design firm, introduced the Tellus bench, made entirely from 100% fossil-free steel. This sustainable material is produced by SSAB using green hydrogen instead of coal, resulting in zero carbon emissions during production. The Tellus bench marks a significant achievement as the first piece of furniture made wholly from this sustainable steel, reflecting Vestre's commitment to sustainability with an aim to reduce its overall carbon footprint by around 60%. The bench features a classic design suited for public spaces such as parks and includes wide armrests for added comfort and functionality.
In June 2023, HNI Corporation, a U.S.-based manufacturer of commercial furnishings, acquired Kimball International for an undisclosed amount. This acquisition is intended to create a comprehensive product portfolio that capitalizes on post-pandemic market trends. By integrating Kimball International's offerings, HNI aims to strengthen its market position, foster innovation, and provide significant benefits to shareholders, members, dealers, and customers. Kimball International specializes in designing and producing a variety of office solutions, including modern metal furniture that is both sleek and durable.
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., Nienkamper Furniture & Accessories Inc., Meco Corporation, Simpli Home Ltd., Godrej Interio, Hussey Seatway Ltd., Lorena Canals SL, Oliver Metal Furniture Co. Ltd., Zuari Furniture
North America was the largest region in the metal furniture market in 2023. 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.
The countries covered in the metal furniture market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA, Canada, Italy, Spain.
The metal furniture market consists of sales of bed frames, desks, bookshelves and storage units, outdoor furniture, cabinets and dressers. Values in this market are 'factory gate' values, that is the value of goods sold by the manufacturers or creators of the goods, whether to other entities (including downstream manufacturers, wholesalers, distributors and retailers) or directly to end customers. The value of goods in this market includes related services sold by the creators of the goods.
The market value is defined as the revenues that enterprises gain from the sale of goods and/or services within the specified market and geography through sales, grants, or donations in terms of the currency (in USD, unless otherwise specified).
The revenues for a specified geography are consumption values that are revenues generated by organizations in the specified geography within the market, irrespective of where they are produced. It does not include revenues from resales along the supply chain, either further along the supply chain or as part of other products.
Metal Furniture Global Market Report 2024 from The Business Research Company provides strategists, marketers and senior management with the critical information they need to assess the market.
This report focuses on metal furniture market which is experiencing strong growth. The report gives a guide to the trends which will be shaping the market over the next ten years and beyond.
Where is the largest and fastest growing market for metal furniture ? How does the market relate to the overall economy, demography and other similar markets? What forces will shape the market going forward? The metal furniture market global report from the Business Research Company answers all these questions and many more.
The report covers market characteristics, size and growth, segmentation, regional and country breakdowns, competitive landscape, market shares, trends and strategies for this market. It traces the market's historic and forecast market growth by geography.
The impact of sanctions, supply chain disruptions, and altered demand for goods and services due to the Russian Ukraine war, impacting various macro-economic factors and parameters in the Eastern European region and its subsequent effect on global markets.
The impact of higher inflation in many countries and the resulting spike in interest rates.
The continued but declining impact of COVID-19 on supply chains and consumption patterns.