The North America Metal Furniture Market would witness market growth of 8.6% CAGR during the forecast period (2021-2027).
The worldwide metal furniture business has grown significantly in recent years and is predicted to continue growing at a steady rate over the forecast period. This is due to an increase in the popularity of personalized designs, eco-friendly materials, and French modern design. However, fluctuating raw material prices and an increase in counterfeit items is expected to limit the growth of the market. Moreover, an increase in disposable income and a taste for interior and external design are expected to drive metal furniture demand. Furthermore, the bulk of commercial establishments, such as hotels and resorts, spend on interior and external design as part of their infrastructure enhancement. This entails the installation of designer furniture to improve the ambiance and architecture of the infrastructural space.
Reasons such as increased disposable incomes, the rise of the real estate and hotel industries, and customer demand for luxury and premium furnishings are driving the growth of the metal furniture market. In addition, rising government investments in infrastructure development are boosting the demand in the residential and commercial sectors, which will drive product demand in the near future.
The high spending of the consumers in the region on renovating and refurbishing their homes is one of the major factors fuelling the growth of the regional metal furniture market during the forecast period. In addition, the growing demand for customized furniture is contributing to the boosting demand for metal furniture in this region. The strong healthcare sector is supporting the growth of the metal furniture market in the region.
Moreover, the increasing numbers of nuclear families who spend more money on making their homes look attractive yet comfortable would augment the demand for metal furniture in the region. Metal furniture adds to the style statement of the house and looks more elegant; due to this people are increasingly adopting metal furniture in their spaces. Several restaurant owners and commercial spaces are highly using metal furniture to make their spaces beautiful and attractive, which would contribute to the growth of the regional metal furniture market.
The US market dominated the North America Commercial Market by Country in 2020, and would continue to be a dominant market till 2027; thereby, achieving a market value of $17,909.6 million by 2027. The Canada market is experiencing a CAGR of 11.5% during (2021-2027). Additionally, The Mexico market would witness a CAGR of 10.6% during (2021-2027).
Based on Application, the market is segmented into Residential and Commercial. Based on Type, the market is segmented into Bed, Chair, Sofa, Table and Others. Based on Distribution Channel, the market is segmented into Specialty Stores, E-Commerce, Supermarket/Hypermarket and Direct distribution. Based on countries, the market is segmented into U.S., Mexico, Canada, and Rest of North America.
Free Valuable Insights: The Global Metal Furniture Market is Estimated to Reach USD 266.7 Billion by 2027 at a CAGR of 10%
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.
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