What is Steel Furniture?
In the furniture industry, the contribution of steel cannot be denied. Various products of the furniture industry are made with the help of steel. The higher durability of steel along with great tensile strength gives the opportunity to ensure that the end product made is of great quality. The steel furniture needs less investment due to this it is widely adopted from consumers of middle and lower-middle classes for home furniture. This is the major reason for leading the growth of the steel furniture market.
Attributes | Details |
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Study Period | 2017-2027 |
Base Year | 2021 |
Unit | Value (USD Million) |
Key Companies Profiled | Cosco Products (United States), Atlas Commercial Products LLC (United States), Meco Corporation (United States), Hussey Seating Company (United States), Samsonite International S.A (Hong Kong), Foshan Kinouwell Furniture (China), Gopak Ltd (United Kingdom), Maximaa Systems Ltd. (India), Godrej (India), KOKUYO (Japan), Foshan Shunde Osidi Furniture Limited (China), Teknomek Ltd (United Kingdom) and SYSPAL (United Kingdom) |
The study covers a detailed analysis segmented by key business segments i.e. by type (Steel Chairs, Steel Tables, Steel Cupboards, Steel Sofas and Other (Rods, Stands)) , by application (Home Use and Commercial Use) and major geographies.
The competition is expected to become even more intense in the years to come due to the entry of several new players in the market. To help clients improve their revenue shares in the market, this research study provides an in-depth analysis of the markets competitive landscape and offers information on the products offered by various leading companies. Additionally, this Steel Furniture market report suggests strategies that Vendors can follow and highlights key areas they should focus on, in order to take maximum benefits of growth opportunities.
The report offers several leading Vendors, some of them are Cosco Products (United States), Atlas Commercial Products LLC (United States), Meco Corporation (United States), Hussey Seating Company (United States), Samsonite International S.A (Hong Kong), Foshan Kinouwell Furniture (China), Gopak Ltd (United Kingdom), Maximaa Systems Ltd. (India), Godrej (India), KOKUYO (Japan), Foshan Shunde Osidi Furniture Limited (China), Teknomek Ltd (United Kingdom) and SYSPAL (United Kingdom).
Steel Furniture Market Dynamics:
Attributes | Details |
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Growth Drivers | - Demand for Steel Furniture from Low and Middle Class Peoples
- Waterproofing and Fireproofing Features
- Environmentally Friendly
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Major Trends | - Trend for Customized Steel Furniture with Designs and Various Color Patterns
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Restraints | - Steel Furniture Can Damage Finished or Wooden Floors
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Road Blocks / Challenges | - Requirement of Skilled Labour in Metal Cutting, Metal Joining, and Painting Work
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Gaps & Opportunities | - Low Investment Cost for Entering Steel Furniture Business
- Increasing Adoption of Steel Furniture at Commercial Places such as Restaurants, Hotels, and Cafes
- Easy to Clean and Maintain
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Key highlights of the Global Steel Furniture market Study:
CAGR of the market during the forecast period 2021-2027
In-depth information on growth factors that will accelerate the Steel Furniture market in next few years.
Detailed Insights on futuristic trends and changing consumer behavior
Forecast of the Global Steel Furniture market size and its contribution to the parent market by type, application and by country.
A broad view of customer demand
Uncover markets competitive landscape and in-depth information on various Vendors
Comprehensive information about factors that will challenge the growth of Steel Furniture Vendors
Transformation and Important Triggers:
Business transformation has taken hold across the broad corporate landscape due to the confluence of several important triggers, including:
A tipping point in globalization
A major slowdown in Western economies
Significant shifts in technology and cost structure
The challenges of regulatory compliance
New forms of competition developing
Research Methodology:
The top-down and bottom-up approaches are used to estimate and validate the size of the Global Steel Furniture market.
In order to reach an exhaustive list of functional and relevant players, various industry classification standards are closely followed such as NAICS, ICB, and SIC to penetrate deep into important geographies by players, and a thorough validation test is conducted to reach the most relevant players for survey in Steel Furniture market.
In order to make a priority list sorting is done based on revenue generated based on the latest reporting, using paid databases such as Factiva, Bloomberg, etc.
Finally the questionnaire is set and specifically designed to address all the necessities for primary data collection after getting prior appointment> by targeting key target audience that includes New Entrants/Investors, Analysts and Strategic Business Planners, Steel Furniture Manufacturer, Raw Material Suppliers, Dealers, Suppliers, Traders, and Distributors, Venture Capitalists and Private Equity Firms, Government Regulatory and Research Organizations and End Use Industry.
This helps us to gather the data for the players revenue, operating cycle and expense, profit along with product or service growth, etc.
Almost 70-80% of data is collected through primary medium and further validation is done through various secondary sources that include Regulators, World Bank, Association, Company Website, SEC filings, OTC BB, Annual reports, press releases, etc.