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Global Drawer Slides Market 2019 by Manufacturers, Regions, Type and Application, Forecast to 2024
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Global Drawer Slides Industry Was 4736.65 Million USD In 2017
Drawers are extensively used for storing things. For a drawer, slides are the most important part acting as a supporting structure without which drawer could not be installed. Technological advancements have enabled the introduction of drawer slide with an integrated lock which is one of the reasons for the product demand globally.
The Drawer Slides industry was 4736.65 million USD in 2017 and is projected to reach USD 7212.29 million USD by 2025, at a CAGR (Compounded Annual Growth Rate) of 5.35% between 2018 and 2025. The market is driven by various end-user industries, such as furniture, appliances, tool boxes, laboratory furniture, architectural, medical cabinets, IT enclosures, stillage, warehousing and financial field.
The market for Drawer Slides is highly fragmented with players such as Blum Inc, Hettich, Accuride, GRASS, H?fele, Formenti & Giovenzana S.p (FGV), King Slide Works Co. Ltd, Taiming, SACA Precision, Guangdong Dongtai Hardware, Knape & Vogt Manufacturing Company, ITW Proline (Prestige), Salice, Generdevice, Jonathan. The industry is expected to remain innovation-led, with acquisitions and strategic alliances adopted as the key strategies by the players to increase their industry presence. Meanwhile, optimize product mix and further develop value-added capabilities to maximize margins.
Price in US and EU is much higher than that of China and other developing countries due to their high quality and powerful functionalities. Developing countries such as China and India is more likely to attract more investment opportunity for their potential demand.
A critical factor for growth in Asia region is availability of raw materials at lower prices coupled with the presence of large number of suppliers and producers. China is anticipated to lead growth of the Asia Pacific market over the next six years. All manufactures in the world are committed to the improvement of product. These two years, some of Chinese manufactures can almost catch up with the world's leading technology too. Most technologies are developed by the manufacturers instead of importing from other companies.
Cash drawers in every house and retail stores require ball bearing slides. The increasing use of ATM machines, gaming machines, ticket machines, food and drink dispensing equipment which needs drawer slides are expected to contribute to the market growth. Stainless steel slides for harsh environments such as laboratories, clean rooms, chemical storage, locker rooms, food preparation and horticulture are witnessing high demand and the trend is expected to continue in the long run. However, fluctuation in steel prices which is a major raw material used in manufacturing of slides poses a challenge to drawer slides market. Over the last few years, fluctuations in steel prices had a negative impact on the market.
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