Emerging Trends to Reshape the Hardware Market: Transforming Hardware Manufacturing Market With Robotics, Automation, And Sensor Technology as a Key Influencer

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Hardware Market Size Valuation Forecast: What Will the Market Be Worth by 2025?
Over the past few years, the hardware market has seen a significant expansion. It is projected to increase from a worth of $127.14 billion in 2024 to $135.43 billion in 2025, with a compound annual growth rate (CAGR) of 6.5%. This growth trend during the historical period is largely due to robust economic growth in the emerging markets, rapid progression in the automotive industry, increased construction activities and the continual rise in infrastructure development.

Hardware Market Size Forecast: What's the Projected Valuation by 2029?
Expectations point towards consistent growth in the hardware market size in the forthcoming years, as it's set to expand to $164.56 billion by 2029, at a compound annual growth rate (CAGR) of 5.0%. Located within the forecast period, the growth is credited to factors such as brisk urbanization, governmental support that is on the rise, heightened metal consumption within the aerospace sector, and developments within the automotive industry. Key trends foreseen within the forecast period comprise the introduction of metal additive in product manufacturing, concentrated efforts on novel design innovations, strategic teamwork and acquisitions among market participants, a focus on products with net zero carbon emissions, and the application of recycled metals.

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What Are the Drivers Transforming the Hardware Market?
The anticipated increase in metal consumption by the aerospace industry during the forecast period will likely act as a catalyst for the hardware manufacturing market. This growth is principally attributed to the surge in air travel, which has resulted in a higher demand for commercial aircraft. The International Air Transport Association (IATA) reports a total of approximately 3.8 billion air passengers. These figures are expected to soar to 7.2 billion by 2035. In a similar vein, Boeing estimates a requirement of roughly 42,730 new jets in the next two decades to accommodate the growing passenger traffic and imminent plane retirements. These jets, which are projected to be worth $6.3 trillion, will necessitate substantial metal consumption, most notably aluminum. This consumption will contribute significantly to the hardware manufacturing market's expansion during the forecast period. Thus, the hardware manufacturing market is anticipated to be propelled by the predicted rise in metal consumption by the aerospace sector.

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What Long-Term Trends Will Define the Future of the Hardware Market?
There's been a surge in the use of robotics and automation within many hardware manufacturing firms to enhance plant productivity and efficiency. They're employing sensors in an array of machines to access crucial data that is beneficial for boosting efficiency and minimizing possible malfunctions. For example, as per reports from May 2024, the global robotics market, valued at USD 59.7 billion in 2022, is predicted to skyrocket to over USD 200 billion by 2030. This represents a compounded annual growth rate of 16.1% from 2023 to 2030. Companies like FANUC, KUKA, ABB, and Motoman are among those supplying industrial robots to metals enterprises.

Which Segments in the Hardware Market Offer the Most Profit Potential?
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 Firms Dominate the Hardware Market by Market Share and Revenue in 2025?
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

Which Regions Offer the Highest Growth Potential in 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

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