Metal Furniture Market Growth Expected to Reach USD 191.734 Billion by 2028, Sustainable Growing at a 3.9% CAGR

According to a new report published by Allied Market Research, titled, "Metal Furniture Market by Type, Application, and Distribution Channel: Global Opportunity Analysis and Industry Forecast 2021-2028". The report provides a detailed analysis of the top investment pockets, top winning strategies, drivers & opportunities, market size & estimations, competitive landscape, and changing market trends. The global metal furniture market size was valued at $141,444.0 million in 2020, and is projected to reach $191,734.0 million by 2028, registering a CAGR of 3.9% from 2021 to 2028.

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The global metal furniture industry has witnessed significant growth in the past few years, and is expected to grow at a steady pace during the forecast period. This is attributed to the fact that there is a rise in trend in customized designs, eco-friendly material, and French modern design. However, fluctuations in the price of raw materials and increase in counterfeit products restrain market growth.

Growth in population and urbanization propels growth of the global metal furniture market. As growth in population and urbanization leads to increase in infrastructure activities. Increase in numerous residential and commercial infrastructure leads to increase in demand for furniture. Commercial institutes such as hotels, restaurants, hospitals and offices also drive the market growth.

Rise in consumer interest toward home décor, surge in the number of offices, and rapid growth of online retail platforms have boosted the growth of the global metal furniture market. However, rise in cost of raw materials hinders the market growth. On the contrary, rise in the standard of living owing to increase in disposable income and advent of customized furniture and technology are expected to create lucrative opportunities for the market players in the future.

The market is segmented into type, application, distribution channel, and region. By type, the market is divided into bed, sofa, chair, table, and others. On the basis of application, it is segmented into commercial and residential. By distribution channel, it is segregated into direct distribution, supermarket/hypermarket, specialty stores, and e-commerce. Region-wise, it is analyzed across North America (the U.S., Canada, and Mexico), Europe (Germany, the UK, France, Italy, Spain and rest of Europe), Asia-Pacific (China, India, Japan, Australia, South Korea, and rest of Asia-Pacific), and LAMEA (Latin America, the Middle East, and Africa).

On the basis of type, the bed segment was the highest contributor to the global metal furniture market growth in 2020, and is projected to reach $47,617.4 million by 2028, registering a CAGR of 4.0% from 2021 to 2028. Increase in standard of living leads to influence of home decor among customers, which leads to increase in demand for this segment. Moreover, the table segment is expected to be the fastest growing segment during the forecast period.

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On the basis of the application, the residential segment was the largest contributor to the market growth during 2020. It is estimated to reach $105,490.5 million by 2028, at a CAGR of 3.8%. This growth attributes to increase in disposable income and rise in the real estate industry. With increase in numerous infrastructures, demand for furniture also rises. This trend leads to growth of the residential global metal furniture market.

By distribution channel, the specialty store segment was the highest contributor to the metal furniture market, with $43,505.7 million in 2020, and is estimated to reach $59,140.2 million by 2028, at a CAGR of 3.9% during the forecast period. Specialty stores provide a variety of selective products with expertized staff, which allows customers to choose right products easily.

Region-wise, according to the global metal furniture analysis, Asia-Pacific has gained considerable traction in market and is expected to grow at the highest CAGR of $3.9% during the forecast period of 2021-2028.

Key players in the global metal furniture industry profiled in the report include Chyuan Chern Furniture Co., Ltd., Cymax Group Inc., DHP Furniture, Godrej
Furniture, Hillsdale Furniture, Inter IKEA systems B.V., Meco Corporation, Oliver Metal Furniture, Simpli Home, and Zinus.

𝐀𝐧𝐚𝐥𝐲𝐬𝐭 𝐑𝐞𝐯𝐢𝐞𝐰

Growth in population and urbanization propels growth of the global metal furniture market. As growth in population and urbanization leads to increase in infrastructure activities. Increase in numerous residential and commercial infrastructure leads to increase in demand for furniture. Commercial institutes such as hotels, restaurants, hospitals and offices also drive the market growth.

Furthermore, increase in disposable income and improvement in standard of living provides various opportunities to manufacturers in the metal furniture market. Growth in demand of metal furniture fuels competition among manufacturers. Hence, to maintain foothold in the market, manufacturers are adopting innovation in production of furniture. These innovative ideas include attractive designs and use of strong, durable, and eco-friendly materials.

𝐊𝐞𝐲 𝐟𝐢𝐧𝐝𝐢𝐧𝐠𝐬 𝐨𝐟 𝐭𝐡𝐞 𝐬𝐭𝐮𝐝𝐲:

○ The global metal furniture market was valued at $141,444.0 million in 2020, and is estimated to reach $191,734.0 million by 2028, growing at a CAGR of 3.9% during the forecast period.
○ By product type, the table segment is estimated to witness the fastest growth, registering a CAGR of 4.9% during the forecast period.
○ In 2020, depending on application, the residential segment was valued at $78,324.6 million in 2020, and is estimated to reach $105,490.5 million by 2028, accounting for CAGR of 3.8% of the global metal furniture market share.
○ In 2020, China was the most prominent market in Asia-Pacific, and is projected to reach $16,055.1 million by 2028, growing at a CAGR of 4.3% during the forecast period.

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𝐑𝐞𝐚𝐬𝐨𝐧𝐬 𝐭𝐨 𝐛𝐮𝐲 𝐌𝐞𝐭𝐚𝐥 𝐅𝐮𝐫𝐧𝐢𝐭𝐮𝐫𝐞 𝐌𝐚𝐫𝐤𝐞𝐭 𝐑𝐞𝐩𝐨𝐫𝐭:

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𝐅𝐫𝐞𝐪𝐮𝐞𝐧𝐭𝐥𝐲 𝐀𝐬𝐤𝐞𝐝 𝐐𝐮𝐞𝐬𝐭𝐢𝐨𝐧𝐬?

Q1. What will be the global metal furniture market Size From 2021 to 2027?
Q2. What is the CAGR of global metal furniture market?
Q3. Which is the base year calculated in the global metal furniture report?
Q4. Which are the top companies in the global metal furniture market?
Q5. What are the segments of global metal furniture market?
Q6. How the major currents trends will be shape the market in the future?

𝐑𝐞𝐚𝐝 𝐌𝐨𝐫𝐞 𝐓𝐫𝐞𝐧𝐝𝐢𝐧𝐠 "𝐀𝐌𝐑 𝐄𝐱𝐜𝐥𝐮𝐬𝐢𝐯𝐞 𝐈𝐧𝐬𝐢𝐠𝐡𝐭𝐬:

○ Plastic Furniture Market is projected to reach $19,075.3 million by 2027
https://www.alliedmarketresearch.com/plastic-furniture-market-A11274

○ Children Furniture Market is projected reach $48.9 billion by 2030
https://www.alliedmarketresearch.com/children-furniture-market-A13711

○ Hospitality Furniture Market by Manufacturer, Region, Type and Application Forecast to 2027
https://www.alliedmarketresearch.com/hospitality-furniture-market-A06986

○ U.S. Home Furniture and Bedding Market is estimated to reach $183,489.52 million by 2027
https://www.alliedmarketresearch.com/us-home-furniture-and-bedding-market-A10954

○ Organic Beddings Market is projected to reach $539 million by 2031
https://www.alliedmarketresearch.com/organic-beddings-market-A31314

○ Range Hood and Cooktop Market is projected to reach at $37,646.2 million by 2030
https://www.alliedmarketresearch.com/range-hood-and-cooktop-market

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