Global Metal Furniture Market By Application (Residential and Commercial), By Type (Bed, Chair, Sofa, Table and Others), By Distribution Channel (Specialty Stores, E-Commerce, Supermarket/Hypermarket and Direct distribution), By Regional Outlook, COVID-19 Impact Analysis Report and Forecast, 2021 - 2027
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Get in-depth analysis of the COVID-19 impact on the Metal Furniture Market
Market Report Description
The Global Metal Furniture Market size is expected to reach $266.7 billion by 2027, rising at a market growth of 10% CAGR during the forecast period. Metal furniture are that furniture which use metal parts while manufacturing. Carbon steel, aluminum, stainless steel and iron are the different types of metal that are mainly used during the production of metal furniture. When it comes to outdoor settings or offices, furnishing iron and steel products are broadly used. Cast iron is basically used for outdoor finishing and settings such as those used for bench legs as well as for solid iron tables. This kind of furniture is best suited for outdoor use as a result of its general tough composition hardness, and heaviness.
Metal furniture can be found in a variety of settings, including businesses, hotels, homes, restaurants, stores, and libraries. Metal-framed beds, chairs, tables, and sofas are among the items available. Environmentally friendly furniture is a priority for manufacturers in this metal furniture sector. This entails the use of recycled materials like salvaged wood and repurposed wood pallets, as well as natural materials like seagrass and bamboos. In the furniture sector, the concept of eco-friendly furniture is gaining steam.
Metal furniture has been famous for decades due to its unique designs. This furniture is highly durable as it can be used for a prolonged period of time. Metal furniture can exhibit scratches as well as ink marks on some facilities and hence, people usually prefer laminate tops on metal case goods so that the top gets dent and scratch-resistant. Spot repair can be easily done over metal finishes due to this these furnishings look pristine even when they are heavily used.
COVID-19 Impact Analysis
The COVID-19 pandemic has had a negative impact on the metal furniture industry. Manufacturing units were temporarily shut down due to worldwide lockdowns, resulting in a loss of output and revenue. This lockdown was put in place to curb the spread of the coronavirus. In addition, construction activities were temporarily halted. As a result, the demand of metal furniture declined significantly during the pandemic period. Moreover, customers became more concerned about their health and safety, thus reducing the popularity of metal furniture market across the world.
The manufacturing units were temporarily closed due to the COVID-19 outbreak which resulted in huge losses as there was no manufacturing but they were bound to pay their workers with marginal salaries. As these markets were shut this led to the closure of retails and wholesale outlets for metal furniture which led to revenue loss for the global market. Metal furniture is used at various places such as homes, café, restraints, and offices, and all these were completely shut due to the lockdown across the globe. Eventually, it resulted in restraining the demand for metal furniture as it is a luxury product and people were more focused on their health and completely ignored these luxuries during the pandemic.
Market Growth Factors:
Metal furnishings are Stylish & Affordable
The manufacturers of metal furniture have strived hard to create this furniture that fulfills both the requirements i.e. function and form. This furniture offers neutral colors that resemble wood and the laminated drawer faces can easily transform basic metal furniture into something identical which results in an admirable beauty.
Features such as easy to clean and low possibility of pest are set to boost the market growth
As compared to the wood furniture, metal furniture is better as they don’t get spoiled due to bugs. Metal furniture is easy to clean but there are some places where bugs can hide but this furniture is still better than wood ones. Metal furnishings are an easy surface to treat and clean pesticides. On the other hand, there is no evidence that metal furnishings are less attractive when compared to wood furniture.
Market Restraining Factor:
The heavy weight of metal furniture
Metals have a certain weight, which makes the furniture heavy than other types of furniture. Due to this, it is more difficult to move any metal furniture, which would restrict consumers from buying metal furniture. The heavy and bulky nature of metal used in the manufacturing of this type of furniture would hamper its demand in the market.
Based on Application, the market is segmented into Residential and Commercial. Based on the application, the residential segment obtained the maximum revenue share of the global metal furniture market in 2020. The factor affecting the growth of the segment is the rise in the living standard of the people which is encouraging buyers to spend more on custom furnishing and home décor.
Based on Type, the market is segmented into Bed, Chair, Sofa, Table and Others. The table segment would be the fastest growing segment during the forecast period. The key reason behind this is the increase in the number of workplaces and business organizations that require tables. In addition, growing number of restaurants around the world that need tables as an essential product is likely to fuel the demand of segment in the upcoming years. Moreover, growing number of office space will also boost the growth of this segment as these spaces require table for their activities.
Distribution Channel Outlook
Based on Distribution Channel, the market is segmented into Specialty Stores, E-Commerce, Supermarket/Hypermarket and Direct distribution. Based on the distribution channel, the specialty store segment obtained the highest revenue share of the global metal furniture market during 2020. Specialty stores include showrooms and retail shops in which consumers get specialized services. In addition, the specialty stores carry a limited number of the top models. Eventually, it helps customers to choose the most suitable product from the available stock. Thus, these factors are accelerating the growth of this segment.
|Market size value in 2020||USD 125.4 Billion|
|Market size forecast in 2027||USD 266.7 Billion|
|Historical Period||2017 to 2019|
|Forecast Period||2021 to 2027|
|Revenue Growth Rate||CAGR of 10% from 2021 to 2027|
|Number of Pages||191|
|Number of Tables||369|
|Report coverage||Market Trends, Revenue Estimation and Forecast, Segmentation Analysis, Regional and Country Breakdown, Companies Strategic Developments, Company Profiling|
|Segments covered||Application, Type, Distribution Channel, Region|
|Country scope||US, Canada, Mexico, Germany, UK, France, Russia, Spain, Italy, China, Japan, India, South Korea, Singapore, Malaysia, Brazil, Argentina, UAE, Saudi Arabia, South Africa, Nigeria|
Based on Regions, the market is segmented into North America, Europe, Asia Pacific, and Latin America, Middle East & Africa. North America would witness fastest growth rate over the forecast period. Factors such as a substantial increase in the standard of living and the rise in demand for personalized furniture are accelerating the growth of the regional market. The presence of leading players of the metal furniture market in this region would create more growth opportunities for the regional market. Moreover, the increasing purchasing power of the consumers in this region would help the market to growth further.
Free Valuable Insights: Global Metal Furniture Market size to reach USD 266.7 Billion by 2027
The market research report covers the analysis of key stake holders of the market. Key companies profiled in the report include Godrej Group, Dorel Industries, Inc. (Dorel Home Products Furniture), Inter IKEA Systems B.V., Chyuan Chern Furniture Co., Ltd., Meco Corporation (Unaka Corporation), Hillsdale Furniture, Simpli Home, Oliver Metal Furniture, and Zinus, Inc.
Scope of the Study
Market Segments Covered in the Report:
By Distribution Channel
- Specialty Stores
- Direct distribution
- North America
- Rest of North America
- Rest of Europe
- Asia Pacific
- South Korea
- Rest of Asia Pacific
- Saudi Arabia
- South Africa
- Rest of LAMEA
Key Market Players
List of Companies Profiled in the Report:
- Godrej Group
- Dorel Industries, Inc. (Dorel Home Products Furniture)
- Inter IKEA Systems B.V.
- Chyuan Chern Furniture Co., Ltd.
- Meco Corporation (Unaka Corporation)
- Hillsdale Furniture
- Simpli Home
- Oliver Metal Furniture
- Zinus, Inc.
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What would be the size of the metal furniture market by 2027?
The metal furniture market size is projected to reach USD 266.7 billion by 2027.
What are the key driving factors and challenges in the metal furniture market?
Metal furnishings are Stylish & Affordable are driving the market in coming years, however, The heavy weight of metal furniture limited the growth of the market.
Who are the leading players in the metal furniture market?
Godrej Group, Dorel Industries, Inc. (Dorel Home Products Furniture), Inter IKEA Systems B.V., Chyuan Chern Furniture Co., Ltd., Meco Corporation (Unaka Corporation), Hillsdale Furniture, Simpli Home, Oliver Metal Furniture, and Zinus, Inc.
At what CAGR is the metal furniture market estimate to grow in the forecast period?
The expected CAGR of the metal furniture market is 10% from 2021 to 2027.
Which segment shows the high growth rate of the metal furniture market over the forecast period?
The commercial segment would witness the fastest growth rate during the forecast period. The factor responsible for the growth of this segment is the increase in the number of schools, restraints, hospital, and offices.
Which region is leading the market?
On the basis of region, Asia-Pacific emerged as the leading region of the metal furniture market in 2020. The main factors leading to the growth are the gradual urbanization, rise in the number of nuclear households, and increase in population.