Industry Background:
Furniture fittings are products that link parts of furniture together, can help the connections to be fixed or movable. The rise in disposable income of middle class families and growing demand for the furniture among the commercial spaces are the key drivers fuelling the growth of the market.
According to AMA Research, the market for Furniture Fittings is expected to register a CAGR of 4.6% during the forecast period to 2030. This growth is primarily driven by The Rise in Disposable Income of Middle Class Families
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Attributes | Details |
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Study Period | 2018-2030 |
Base Year | 2023 |
Forecast Period | 2024-2030 |
Volume Unit | K Tons |
Value Unit | USD (Million) |
Customization Scope | Avail customization with purchase of this report. Add or modify country, region & or narrow down segments in the final scope subject to feasibility |
The Home Furnishings sector in the
region has been increasing at a sustainable rate and further growth is expected to be witnessed over the forecast period, owing to the robust investments and expansion in production facilities in the region. Major Vendors, such as Blum Inc. (United States), Hettich (Germany), Bohle AG (Germany), ERA Cafe Furnitures (Istanbul), Accuride (United States), GRASS GmbH (Austria), Hafele (Germany), FGV (Italy), King Slide (Taiwan), Taiming (China), SACA Precision (China), Guangdong Dongtai Hardware (China) and Knape & Vogt Manufacturing Company (United States), etc have either set up their manufacturing facilities or are planning to start new provision in the dominated region in the upcoming years.
Key Developments in the Market:
In January 2023, Hafele highlighted the possibilities for personalization in the kitchen, bathroom, wardrobe, and other areas. With a wide choice of completely personalized solutions, Häfele's Service+ is here to make your projects more useful, attractive, and effective. This has made it possible for the business to offer its clients more individualized and practical ideas and solutions.
In March 2023, Bohle Ltd. Announced they would participate in the FIT Show. The business is well known for providing water processing equipment to the glass processing sector. It also sells Juliet balconies, internal partitioning systems, sliding door systems, balustrades, and shower hardware to glass processors and home renovation businesses. The corporation wants to grow its business by providing a new and cutting-edge product line.The global market is highly competitive and consists of a limited number of providers competing. The intense competition, changing consumer spending patterns, demographic trends, and frequent changes in consumer preferences pose significant opportunities for market growth.
Influencing Trend:
The Trend for Renting Furniture and Growing Trend of Online Shopping
Market Growth Drivers:
The Rise in Disposable Income of Middle Class Families and Growing Demand for the Furniture among the Commercial Spaces
Challenges:
Rise in the Manufacturing Cost
Restraints:
An Availability of Counterfeit Products
Opportunities:
Emerging Demand from the Developing Countries
AMA Research follows a focused and realistic research framework that provides the ability to study the crucial market dynamics in several regions across the world. Moreover, an in-depth assessment is mainly conducted by our analysts on geographical regions to provide clients and businesses the opportunity to dominate in niche markets and expand in emerging markets across the globe. This market research study also showcases the spontaneously changing Vendors landscape impacting the market's growth. Furthermore, our market researchers extensively analyze the products and services offered by multiple players competing to increase their market share and presence.
Data Sources of Furniture Fittings Market Study
Primary Collection: InMail, LinkedIn Groups, Survey Monkey, Google, and Other professional Forums are some of the mediums utilized to gather primary data through key industry participants and appointees, subject-matter experts, C-level executives of Furniture Fittings Industry, among others including independent industry consultants, experts, to obtain and verify critical qualitative commentary and opinion and quantitative statistics, to assess future market prospects.
The primary interviews and data collected as per the below protocols: By Designation: C-Level, D-Level, Others
By Company Type: Tier 1, Tier 2, Tier 3
Secondary Data Sources such as Annual reports, Press releases, Analyst meetings, Conference calls, Investor presentations, Management statements, and SEC filings of Furniture Fittings players along with Regulatory Sites, Association, World bank, etc were used as sources secondary set of data.
Customization in the Report
AMA Research features not only specific market forecasts but also includes significant value-added commentary on:
- Market Trends
- Technological Trends and Innovations
- Market Maturity Indicators
- Growth Drivers and Constraints
- New Entrants into the Market & Entry/Exit Barriers
- To Seize Powerful Market Opportunities
- Identify Key Business Segments, Market Proposition & Gap Analysis
Against this Challenging Backdrop, Furniture Fittings Study Sheds Light on
The Furniture Fittings Market status quo and key characteristics. To end this, Analysts at AMA organize and took surveys of the Furniture Fittings industry Vendors. The resultant snapshot serves as a basis for understanding why and how the industry can be expected to change.
Where Furniture Fittings industry is heading and what are the top priorities. Insights are drawn from financial analysis, surveys, and interviews with key executives and industry experts.
How every company in this diverse set of Vendors can best navigate the emerging competition landscape and follow a strategy that helps them position to hold the value they currently claim or capture the new addressable opportunity.