Published Date: 26-Sep-2021
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According to a new report Global Metal Furniture Market, published by KBV research, 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.
The direct distribution segment would experience the fastest growth rate during the forecast period. It provides a direct interaction between the client and manufacturer. Through direct interactions, all the communication barriers are eliminated which aids in providing the customized furniture for the customer. Thus, these aspects would create lucrative growth opportunities for the segment in the upcoming years.
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. In addition, this type of furniture has low cost of maintenance and high reliability, hence the commercial segment is witnessing massive demand for it. Moreover, metal furniture comes in various sizes, colors, and shape which is a major requirement in the commercial sector. Therefore, these aspects would help the segment to expand further over the forthcoming years.
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. Moreover, consumers residing in the region are constantly shifting towards attractive and exclusive products. In the last couple of years, metal furniture is evolved to fit the demand and desire of different sections. Furthermore, the growing number of residential as well as commercial building in the region is expected to boost the growth of the regional metal furniture market during the forecast period.
Full Report: https://www.kbvresearch.com/metal-furniture-market/
The market research report has exhaustive quantitative insights providing a clear picture of the market potential in various segments across the globe with country wise analysis in each discussed region. The key impacting factors of the market have been discussed in the report with the elaborated company profiles of 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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