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Comprehensive Report On The Global Hardware Market For The Forecast Period 2024-2033 | Schneider Electric SE, Panasonic Corporation, Signify N.V., Osram Licht AG, Acuity Brands
Hardware Global Market Report
The Business Research Company presents an extensive market research report on the Hardware Global Market Report 2024, furnishing businesses with a competitive edge through a detailed examination of the market structure, encompassing estimates for various segments and sub-segments.
Furthermore, the report highlights on emerging trends, significant drivers, challenges, and opportunities, providing all necessary data for thriving in the industry. This report market research offers a comprehensive perspective, including an in-depth analysis of the present and future scenarios within the industry.
Market Sizing:
The hardware market size has grown strongly in recent years. It will grow from $118.29 billion in 2023 to $126.52 billion in 2024 at a compound annual growth rate (CAGR) of 7.0%. The growth in the historic period can be attributed to strong economic growth in emerging markets, rapid growth in the automotive industry, rise in construction activity and the increasing infrastructure development.
The hardware market size is expected to see strong growth in the next few years. It will grow to $160.38 billion in 2028 at a compound annual growth rate (CAGR) of 6.1%. The growth in the forecast period can be attributed to rapid urbanization, the rising government support, the increasing metal consumption by aerospace sector and automotive industry evolution. Major trends in the forecast period include launch of metal additive for manufacturing products, focus on new design innovations, strategic collaborations and acquisitions among market players, focus on net zero carbon products and use of recycled metals.
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Key Market Players:
Major companies operating in the general lighting market report are Schneider Electric SE, Panasonic Corporation, Signify N.V., Osram Licht AG, Acuity Brands, Inc., Eaton Corporation PLC, GE Lighting, Advanced Lighting Technologies, LLC, Honeywell International Inc., Wipro Limited, Surya Roshni Ltd., Havell's India Limited, SSK Group, Halonix, Param LED Products, MLS Lighting, NVC International Holdings Limited, OPPLE Lighting, San'an Optoelectronics Co., Ltd, Meka Electric Corporation, YEELIGHT, Odeer Lighting, Longhorn Intelligent Tech Co., LTD, Koninklijke Philips N.V., Decon Lighting Pvt. Ltd., Cooper Lighting, LG Innotek, Toshiba, Perfand LEd, Lena Lighting, PXF Lighting, Es-System, ELBA, Alpha Lighting, Tes-Lamp, Newled, Elux, Bergmen, Ideal Industries, Digital Lumens, Dimonoff, Cree, LSI Industries Inc., Energy Focus, Inc., Lumileds, OM lighting, UL, Dialight, Sylvania Lighting, Regency Lighting, Frederico Lopes Leal, Light Tool Industries E Comercio Ltd., Larsa Lighting, Arrco, Murano Lighting, Led world me, UC Lighting, Lutron, TRUST LED, Citizen Electronics Co. Ltd., Energy Focus, Shell Petroleum Development Corporation, Light Line Investment Ltd
Market Drivers:
Metal consumption by the aerospace sector is expected to increase during the forecast period, thus driving the hardware manufacturing market. This is mainly due to the rise in air travel is leading to increased demand for commercial aeroplanes. According to the International Air Transport Association (IATA), there were around 3.8 billion air travellers and this number is expected to rise to 7.2 billion by 2035. Similarly, according to Boeing, approximately 42,730 new jets, valued at $6.3 trillion, will be required over the next 20 years, to meet rising passenger traffic and upcoming aeroplane retirements. This will require significant metal consumption, especially aluminium, which will drive the hardware manufacturing market in the forecast period.
Learn More About The Market Report -
https://www.thebusinessresearchcompany.com/report/hardware-global-market-report
The hardware market covered in this report is segmented -
1) By Type: Furniture Hardware, Motor Vehicle Hardware, Builder's Hardware, Other Hardware
2) By End User: B2B, B2C
3) By Sales Channel: OEM, Aftermarket
The report answers the following questions:
What are the primary factors propelling the market during the projected period?
In which region is the most substantial growth expected?
Which trend will take center stage in the upcoming period?
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