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Steady Expansion Forecast for Shop Fitting Material Market, Projected to Reach $202.16 Billion by 2029
Shop Fitting Material Market
Shop Fitting Material Market Size Valuation Forecast: What Will the Market Be Worth by 2025?
The market size of shop fitting materials has displayed significant growth in the recent past. It's expected to expand from $147.28 billion in 2024 to $157.16 billion in 2025, marking a compound annual growth rate (CAGR) of 6.7%. Causes of this historical progression include heightened customer expectations, expansion of shopping mall infrastructure, increase in retail chains, the growing allure of boutique stores, and the burgeoning prevalence of ecommerce outlets.
Shop Fitting Material Market Size Forecast: What's the Projected Valuation by 2029?
The market size for shop fitting materials is predicted to undergo substantial expansion in the coming years, eventually reaching $202.16 billion by 2029 with a compound annual growth rate of 6.5%. The expected growth during this period can be traced back to factors like the rising number of retail spaces, widespread development of supermarkets and hypermarkets, an increase in luxury and premium retail shops, a push towards environmentally friendly materials, and a surge in the number of pop up stores. Upcoming trends that are anticipated in this forecast period include the incorporation of smart technology, use of modular design approaches, progression in 3D printing technology, the employment of lightweight materials, and the integration of digital signage.
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What Are the Drivers Transforming the Shop Fitting Material Market?
The growth of the shop-fitting material market is anticipated to be driven by the expanding number of retail stores. The term "retail stores" is inclusive of various business types encompassing department stores, specialty shops, convenience stores, and supermarkets, which sell products directly to the consumer. Factors such as heightened consumer spending, urban advancements, and the expansion of shopping malls, are underpinning the growth of these retail stores. Shop-fitting materials amplify the appeal of retail stores, improve space utilization, provide a seamless customer journey, augment sales and satisfaction, and reinforce brand identity. For example, the National Association of Convenience Stores, an American international association for convenience and fuel retailing organizations, recorded a projected growth in the number of convenience stores from 150,174 in 2023 to 152,396 in 2024, signifying a 1.5% increase in the store count. Hence, the rising number of retail stores is catalyzing the growth of the shop-fitting material market.
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What Long-Term Trends Will Define the Future of the Shop Fitting Material Market?
Leading businesses in the shop fitting materials sector are updating their interiors with augmented wood to boost the visual appeal, durability, and function of retail settings. This innovative material blends conventional wood with progressive tech, including digital printing and embedded sensors, to craft novel designs and optimize performance. In a recent example from January 2022, Woodoo, a French company known for delivering top-tier alternate materials to steel, glass, leather, and plastics, unveiled LIGHTR. LIGHTR is an illuminating wall solution clad in wood, designed to elevate shop fixtures and retail spaces. The genuine wood finish introduces a warm, organic element, fostering a welcoming ambiance that draws in customers and effectively displays products. As a modular system, it can meld into walls coated with Woodoo's exclusive translucent wood known as SLIM, or it can serve as an intriguing decorative lighting piece to invigorate interiors. The adaptable structure of LIGHTR facilitates effortless integration and personalization to meet various design requirements.
Which Segments in the Shop Fitting Material Market Offer the Most Profit Potential?
The shop fitting material market covered in this report is segmented -
1) By Material: Laminates And Woods, Plastic, Metals, Other Materials
2) By Usage: Counters, Furniture, Display, Shelves, Other Usages
3) By Price: Low, Medium, High
4) By Customer Type: Retailers, Architects, Contractors, Other Customers
5) By End User: Clothing And Fashion Stores, Jewelry Stores, Pharmaceuticals Stores, Grocery Stores, Food And Beverage Cafés, Furniture Stores, Optical Stores, Other End Users
Subsegments:
1) By Laminates And Woods: High-Pressure Laminates (HPL), Decorative Laminates, MDF (Medium Density Fiberboard), Plywood And Veneers, Solid Wood Panels
2) By Plastic: Acrylic Sheets, PVC (Polyvinyl Chloride), Polycarbonate, High-Density Polyethylene (HDPE), ABS (Acrylonitrile Butadiene Styrene)
3) By Metals: Stainless Steel, Aluminum, Brass And Bronze, Mild Steel, Galvanized Steel
4) By Other Materials: Glass, Stone (Marble, Granite), Textiles And Fabrics, Composite Materials (Fiberglass), Bamboo And Eco-Friendly Materials
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Which Firms Dominate the Shop Fitting Material Market by Market Share and Revenue in 2025?
Major companies operating in the shop fitting material market are Leggett & Platt Incorporated, Hovnanian Enterprises Inc., HMY Group, Haworth Inc., Carter Holt Harvey Limited, Surteco GmbH, Madix Inc., Drape*r Inc., Appvion LLC, Pan-Oston B.V., Stylmark Inc., Jacobs Joinery and Shopfitters, ARNO GmbH, Trion Industries Inc., Visplay GmbH, Storflex Fixture Corporation, Barnwood Group Ltd, Stellex Capital Management LLC, Tegometall International AG, TECNARO GmbH, Australian Plastic Fabricators Pty Ltd, GCD Concepts Pty Ltd, Wood 'N' Stamp Shopfitting Pty Ltd
Which Regions Offer the Highest Growth Potential in the Shop Fitting Material Market?
Asia-Pacific was the largest region in the shop fitting material market in 2023. The regions covered in the shop fitting material market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa.
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