Furniture Fittings Market Size, Share, Growth, and Industry Analysis by Type (Zinc Alloy, Aluminum Alloy, Iron, Plastic, Stainless Steel and Others), By Application (Bedroom, Living Room, Dining Room, Hotel, Office and Other ), Regional Insights, and Forecast From 2024 To 2031

Updated On: 08 April 2024

Furniture Fittings Market Report Overview

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The global furniture fittings market size is expected to be USD 29592.0 million in 2021 and is projected to touch USD 46387.23 million by 2031, at a CAGR of 4.6% during the forecast period.

The tiniest components that are attached to or installed outside of the furniture framework provide it functionality for a range of uses. These fixtures are used to attach furniture pieces to one another, allowing the connections to be either fixed or moveable. They fundamentally provide ease and visual variation through their limitless permutations and combinations, resulting in fashionable and creative furniture. The fittings used in furniture that is installed in kitchens, workplaces, and bedrooms provide the furniture style and utility. Some of these fittings include hinges, screws & fasteners, drawer slides, and handles. These fixtures come in a variety of sizes, designs, and constructions. Additionally, they are produced from a variety of raw materials, including plastic, iron, aluminium, stainless steel, and others.

The two main factors driving the market's expansion are the rising disposable income of middle-class families and the rising demand for furnishings among business locations. Furniture fittings are playing a bigger role in the furniture industry as consumers pay more attention to the quality of wood-made furniture and hardware fittings gradually change due to environmental concerns.

COVID-19 Impact: Indefinite Production and Supply of Equipment Due to Disturbed Economies of Scale

The global COVID-19 pandemic has been unprecedented and staggering, with the furniture fittings market experiencing lower-than-anticipated demand across all regions compared to pre-pandemic levels. The sudden spike in CAGR is attributable to demand returning to pre-pandemic levels once the pandemic is over.

The COVID-19 is causing severe harm to the sales of machinery and equipment and is likely to cause a negative impact on the furniture fittings market growth. Furthermore, once the enormity of the situation became clear, the majority of firms closed their doors. As a result, the demands for the market is expected to decrease due to lockdown imposed and low demand from the construction sector. However, after the pandemic, it is expected that public areas and commercial sectors would install the machinery and equipment. The pandemic's efforts to raise awareness are to blame. Furthermore, it is expected that a surge in construction activities would drive furniture fittings market growth throughout the research time-frame.

LATEST TRENDS

"Technological Advancements and New Product Launches to Flourish the Market"

Market expansion will be fueled by rising demand for furniture among business spaces, as well as by research, technological advancement, and aesthetic appeal. The best production practises will be determined by research and technological development, according to the golden principles for the rising and growing furniture fitting industry. Consumers are not afraid of pricey goods; in fact, their taste in home décor is rather opulent and magnificent. The measurable characteristics that characterise the quality of furniture are its functionality, robustness, and style. For instance, solid wood is used for all wooden living sections, and Mortise & Tenon composite is employed in their assembly to guarantee long-lasting strength and durability. For padded seats, a range of colours are available in premium vinyl, stainless-steel textiles, and high-density foam cushioning.

Furniture Fittings Market Segmentation

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• By Type

Based on type; the market is divided into zinc alloy, aluminum alloy, iron, plastic, stainless steel and others.

• By Application

Based on the application; the market is divided into bedroom, living room, dining room, hotel, office and others.

DRIVING FACTORS

"Growing Demand for Furniture Among the Commercial Places to Bolster the Market Demand "

Furniture used for commercial spaces is frequently made to withstand heavy use. Commercial furniture's long lifespan means that there is little variation in the designs. Considering that they require enough liquid to accommodate the various interior design trends, they are typically neutral in construction. The majority of commercial furniture has customization options, including selections for colour and fabric. In commercial locations with a large footprint, furniture quality is a crucial component of company. In the end, using business furniture can help you make more money as well as save money over time.

"The Rise in Disposable Income of the Consumers to Inflate the Market Share"

The market share for furniture fittings has experienced substantial growth in recent years and is expected to soar during the forecast period as a result of customers' increasing disposable income. Parts used for all forms of household furniture are called furniture fittings. such as casters, drawer slides, knobs, and hinges. As people started paying attention to the quality of furniture starting with planks and environmental protection slowly changed hardware fittings into furniture medium action, furniture fittings became more and more significant.

RESTRAINING FACTORS

"Availability of Counterfeit Products to Hold Back the Market Growth"

Additional obstacles that are impeding market expansion include the availability of counterfeit products. Additionally, a lack of knowledge about the benefits of the equipment is limiting the furniture fittings market share.

Furniture Fittings Market Regional Insights

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"Asia Pacific Region to Lead the Market with the Booming Construction Activities"

The market is growing as a result of a growth in residential and commercial construction activities. The industry has grown as a result of factors like increased customer desire for ornamental furniture. Infrastructure for homes and commercial complexes are both expanding quickly, which is helping the industry expand in the next years. The country's fast expanding market participants are also contributing to the expansion of the Asia Pacific market during the next five years. Additionally, the market is expected to develop as a result of globalisation, urbanisation, and customer preferences for aesthetically beautiful furniture fittings. The market is also increasing quickly as a result of an increase in the local geriatric population and a surge in interest in landscaping and construction projects. The rise of the market in the area can be attributed to an increase in disposable income as well as to developments in technology, which are anticipated to have a significant effect on the market's overall growth.

KEY INDUSTRY PLAYERS

"Prominent Industry Players in the Industry to Promote Market Expansion"

The market's expansion was significantly impacted by the techniques employed by market participants in recent years, such as extensions. The report covers details and information about the firms and their interactions with the market. The data is gathered and published through appropriate research, technological advancements, expansions, and expanding machinery and equipment. Other considerations taken into account for this market are the businesses that develop and provide new products, the geographic areas in which they function, mechanization, innovation strategies, generating the maximum revenue, and using their products to make a significant difference.

List of Market Players Profiled

• Blum Inc. (U.S.A)
• Hettich (Germany)
• Bohle AG (Germany)
• ERA Cafe Furnitures (Istanbul)
• Accuride (U.S.A)
• GRASS GmbH (Austria),
• Hafele (Germany)
• FGV (Italy)
• King Slide (China)
• Taiming (China)
• SACA Precision (China)
• Guangdong Dongtai Hardware (China)
• Knape & Vogt Manufacturing Company (U.S.A)
• ITW Proline (Australia)
• Salice (Italy)
• Generdevice (China)
• Paras Furniture Fittings (India)
• Furniture Fittings and Accessories (India)
• Devatha Industrial Corporation (India)
• DENZ ENTERPRISES (India).

REPORT COVERAGE

This report covers a comprehensive backdrop analysis, an assessment of the parent market, intensive study in the market dynamics. Past historical, current, and projected size of the market from the point of both value and volume. Researching  of recent industry developments,  deep study on market shares and strategies of major players and the emerging niche segments and regional market areas are covered in the report.