Press release
Key Trend Reshaping the Hardware Market in 2025: Transforming Hardware Manufacturing Market With Robotics, Automation, And Sensor Technology
Hardware
A surge in metal usage within the aerospace industry is projected during the forecast period, thereby stimulating the hardware production market. The primary reason for this is the increase in air travel, which has resulted in a higher demand for commercial aircraft. As reported by the International Air Transport Association (IATA), about 3.8 billion individuals flew, with this figure anticipated to climb to 7.2 billion by 2035. Furthermore, Boeing estimates that around 42,730 new jets, worth approximately $6.3 trillion, will be necessary over the forthcoming 20 years to accommodate growing passenger numbers and pending aircraft retirements. This will necessitate substantial metal consumption, particularly of aluminum, thereby propelling the hardware production market during the forecast period. Hence, the hardware manufacturing market is expected to be fueled by the aerospace industry's metal consumption.
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What is the projected compound annual growth rate (CAGR) of the hardware market from 2025 to 2034, and what factors influence it?
The substantial surge in the hardware market in the past few years has been noteworthy. From standing at $127.14 billion in 2024, it is predicted to scale up to $135.43 billion in 2025, exhibiting a compound annual growth rate (CAGR) of 6.5%. The significant expansion during the historic period can be accredited to the booming economies in emerging markets, speedy ascension of the automotive sector, elevation in construction activities, and escalation in infrastructure development.
Anticipating a continual expansion in the upcoming years, the hardware market is projected to reach a value of $164.56 billion by 2029, growing at a compound annual growth rate (CAGR) of 5.0%. The driving forces behind this growth during the forecast period include accelerated urbanization, heightened government backing, escalating demand for metals in the aerospace domain, and advancements in the automotive industry. Key trends for the forecast period incorporate the introduction of metal additives for product manufacturing, emphasis on innovative designs, strategic partnerships and mergers among market actors, focus on achieving net zero carbon through products and expanding the usage of recycled metals.
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What new trends are reshaping the hardware market and its opportunities?
A multitude of firms involved in hardware manufacturing are leveraging robotics and automated systems to augment plant efficiency and productivity. Various machines are being equipped with sensors to gather critical data, which aids in enhancing efficiency and mitigating the risk of potential malfunctions. For instance, as per the 2024 global robotics market report, the sector, which was valued at 59.7 billion USD in 2022, is anticipated to skyrocket to above 200 billion USD by 2030. This projection comes with a compounded annual growth rate of 16.1% from 2023 to 2030. FANUC, KUKA, ABB, and Motoman are some of the companies that provide industrial robots to enterprises in the metals industry.
What are the major segments of the hardware market and their role in driving growth?
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
Subsegments:
1) By Furniture Hardware: Cabinet Hardware, Furniture Fasteners, Sofa And Chair Mechanisms, Decorative Hardware
2) By Motor Vehicle Hardware: Engine Components, Chassis And Suspension Hardware, Body Hardware, Electrical Hardware
3) By Builder's Hardware: Doors And Windows Hardware, Fasteners, Brackets And Supports, Roofing And Siding Hardware
4) By Other Hardware: Plumbing Hardware, Electrical Hardware, Industrial Hardware, Safety Hardware
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Which regions are key players in the growth of the hardware market?
Asia-Pacific was the largest region in the hardware market in 2024. Western Europe was the second-largest region in the hardware market. The regions covered in the hardware market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa
Who are the key firms paving the way for growth in the hardware market?
Major companies operating in the hardware market include Assa Abloy AB, Allegion PLC, Blum Inc., Hafele GmbH & Co KG, Dormakaba Holding AG, Hindalco Industries Limited, Vintron Informatics Ltd, Siemens AG, Hakimi Traders L.L.C, Mitsubishi Electric Corporation, Hettich Holding GmbH & Co. oHG, Guangdong KinLong Hardware Products Co. Ltd., Intex Technologies India Ltd, China Northern Heavy Industries Group Corporation, China National Building Material Group Corporation, The Process Enterprise, Bharat Heavy Electricals Limited, Hyundai Heavy Industries Co., Ltd., D-Link India Ltd, Cerebra Integrated Technologies Limited, Johnson Bros. Roll Forming Co, WASEEM TRADERS, PPC Ltd, OAO Vyksa Steel Works (VSW), PJSC Magnitogorsk Iron and Steel Works, SACO, Routebr Trading Company, Amerock, Emtek, Atlas homewares, Godrej, Jonathan Goulart, Gem Manufacturing Co, Bolt Depot, Rockwell Automation Incorporation, Midex General Trading LLC, Kinter, Tata Steel Limited, Tyman PLC, Strybuc Industries, Argos Puxadores LTDA, Express Micro Informatica, Rusal, Curacao Do Brazil Ltda, Wisersoft, Cabos Weis, KFH Metal Stamping, Albatroz Comercio e Servicos Eireli ME, Schlage Lock Company LLC, Zoomlion Heavy Industry Science and Technology Co., Ltd., QCMI Corp, MISUMI Group Inc., Hangzhou Hardware Products Co., Ltd., CREATIVE SHELF, Saturno Tecnologia, Schneider Electric SE, ABB Ltd, Eaton Corporation Plc, Emerson Electric Co, NETCONFIG, Spix Trade-Alexandre Medeiros Rolim, Sephaku Holdings Ltd, Rostec, Novolipetsk Steel (NLMK), Tshu Trading Co., Ltd, Afrimat Ltd, Proteck Electronic Trading LLC, Siegenia-Aubi KG, DOUBLE METAL NIGERIA LTD
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What Is Covered In The Hardware Global Market Report?
• Market Size Forecast: Examine the hardware market size across key regions, countries, product categories, and applications.
• Segmentation Insights: Identify and classify subsegments within the hardware market for a structured understanding.
• Key Players Overview: Analyze major players in the hardware market, including their market value, share, and competitive positioning.
• Growth Trends Exploration: Assess individual growth patterns and future opportunities in the hardware market.
• Segment Contributions: Evaluate how different segments drive overall growth in the hardware market.
• Growth Factors: Highlight key drivers and opportunities influencing the expansion of the hardware market.
• Industry Challenges: Identify potential risks and obstacles affecting the hardware market.
• Competitive Landscape: Review strategic developments in the hardware market, including expansions, agreements, and new product launches.
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