Global Furniture Fittings Market Research Report 2023-Competitive Analysis, Status and Outlook by Type, Downstream Industry, and Geography, Forecast to 2029

Global Furniture Fittings Market Research Report 2023-Competitive Analysis, Status and Outlook by Type, Downstream Industry, and Geography, Forecast to 2029

Furniture Fitting is the fixings, fittings and individual pieces needed to create a working, durable piece of furniture to enhance its functionality or appearance.

Market Overview:

The latest research study on the global Furniture Fittings market finds that the global Furniture Fittings market reached a value of USD 30954.18 million in 2022. It’s expected that the market will achieve USD 40542.4 million by 2028, exhibiting a CAGR of 4.6% during the forecast period.

Influence of COVID-19 Outbreak on Furniture Fittings Industry Development

The raging COVID-19 plunged the global economic environment into depression. The impact of COVID-19 on the Furniture Fittings industry will involve all major links and all entities in the industry chain. The company's management efficiency has declined, commuting has been severely hindered, production plans have been severely hindered, network expansion has been delayed, marketing has been delayed, brand adjustments have been forced, market sales have declined, and company and employee revenue have declined. The government has also put forward higher requirements for the production and operation of enterprises.

In the short term, from the supply side, the company's operating pressure will increase due to postponement of workers' arrival and logistics and transportation issues. In the long run, as the epidemic gradually improves or ends, the impact on the Furniture Fittings industry will gradually weaken. Production and sales will return to the original level and gradually increase.

Due to the epidemic situation, many countries have imposed controls on domestic transportation and the movement of people, and imposed restrictions on imported goods. This has led to various levels of logistics disruption, cargo accumulation and transportation delays. At present, the logistics industry in various countries is gradually recovering operations according to different national policies. It is expected that after the epidemic is further controlled, it will basically return to normal.

Market Opportunity and Drivers Analysis

The sales of furniture fittings are influenced by the furniture market, which has a strong positive correlation with the country's macroeconomic performance. In the stage of economic recovery and prosperity, market transactions are active, demand is strong, commodities sell well, production tends to rise, unemployment rate decreases, residents have more abundant disposable income, the demand for furniture fittings products is also more robust; while in the stage of economic recession and depression, market demand is weak, under-ordering, production shrinks, unemployment rate rises, the shrinkage of disposable income constrains the demand for furniture fittings products.

Wide range of product applications, with upstream costs dominated by bulk commodities

Furniture fittings are widely used and are key components of modern architecture. As auxiliary and accessory manufactured goods used in everyday life and industrial production, furniture fittings are widely used and have a large market volume. The industry can be divided into architectural hardware, tool hardware, daily-use hardware and gas stoves according to the use of the products. Architectural hardware products include door and window hardware, door control hardware, point-supported glass curtain wall fittings, stainless steel fence fittings and plumbing hardware. In recent years, with the improvement of people's living standards and the development of building safety, building energy-saving and building decoration, the important role of architectural hardware as a key component of modern buildings has become more and more prominent.

Furniture fittings products are gradually moving towards high-end.

Furniture fittings will gradually shift to the buyer's market, more popular in high-end products. Furniture fittings in the overall value of the building are relatively low, but the impact of furniture fittings on the quality of life of people living in great, with the improvement of people's quality of life and labor costs rise in the maintenance, repair costs rise, poor and fragile low-end hardware products brought about by the huge update and maintenance costs make real estate companies, decoration companies, ordinary residents are more concerned about the quality of hardware products. With the continuous improvement of people's living standards, the rapid development of modern technology, and the attention paid by countries or regions to the energy-saving construction, the extensive use of high-end furniture fittings will become the main development trend of future furniture fittings.

Region Overview:

United States had the highest growth rate of all regions.

Company Overview:

Blum Inc is one of the major players operating in the Furniture Fittings market, holding a share of 5.02% in 2021.

Blum is a family-owned international company specialized in the production and distribution of functional furniture fittings. The main product groups are lift-, hinge-, box- and runner systems for home furniture – in particular for kitchens.

Hettich is one of the world's leading manufacturers of furniture fittings. The company's headquarters are located in the eastern Westphalian town of Kirchlengern. Hettich has remained a family owned business.

Segmentation Overview:

Among different product types, Stainless Steel segment is anticipated to contribute the largest market share in 2027.

Application Overview:

By application, the Dining Room segment occupied the biggest share from 2017 to 2022.

Key Companies in the global Furniture Fittings market covered in Chapter 3:

Taiming
ASSA ABLOY
SACA Precision
Hafele
Salice
King Slide
Accuride
FGV
GRASS
Higold
Knape & Vogt Manufacturing Company
Hettich
Blum Inc
Guangdong Dongtai Hardware
Bohle AG

In Chapter 4 and Chapter 14.2, on the basis of types, the Furniture Fittings market from 2018 to 2029 is primarily split into:

Zinc Alloy
Aluminum Alloy
Iron
Plastic
Stainless Steel
Others

In Chapter 5 and Chapter 14.3, on the basis of Downstream Industry, the Furniture Fittings market from 2018 to 2029 covers:

Bedroom
Living Room
Dining Room
Hotel
Office
Others

Geographically, the detailed analysis of consumption, revenue, market share and growth rate, historic and forecast (2018-2029) of the following regions are covered in Chapter 8 to Chapter 14:

North America (United States, Canada)
Europe (Germany, UK, France, Italy, Spain, Russia, Netherlands, Turkey, Switzerland, Sweden)
Asia Pacific (China, Japan, South Korea, Australia, India, Indonesia, Philippines, Malaysia)
Latin America (Brazil, Mexico, Argentina)
Middle East & Africa (Saudi Arabia, UAE, Egypt, South Africa)