Furniture Hardware Market: In-depth analysis, upcoming opportunities & future Forecasts
Wood is one of the leading preferences of modern day contemporary furniture, with the likeliness of wood to be used in almost 79% of furniture ranges, according to recent research. With the trend of modernizing the everyday household with contrasting interiors increasing rampantly, we are sure you have thought of some custom furniture ideas that you want to incorporate in your contemporary interior. In this report, let us help you out with an all-inclusive overview of what to expect from the Furniture Hardware Products Market in the near future.
Furniture Hardware is referred to as the supporting pieces or products that complete a piece of furniture and supports the product by maintaining the design, pattern, outlook, and durability of the piece. Here, furniture hardware pieces can be referred to as the furniture legs, arms, frames, skeleton, and even extensions of the furniture piece hold on together by a conjoint piece of furniture hardware.
Furniture Hardware in India is majorly based on the organizational objectives surrounding the major moguls of the furniture industry. This report takes into account the furniture organization/ industry’s various goals in the manufacturing of furniture hardware products, some of which can be described as financial investment by the company, quality over quantity or vice versa, profiling of the product, manpower, labor and adequate sourcing of raw materials, the sale of products on an online platform, etc.
The report hence includes a comprehensive analysis of three major points that can drive changes in the furniture hardware market of tomorrow. The three sections of this report will deal with an overall analysis, the various opportunities to grow and expand in the furniture hardware market in the future, and the future forecasts, respectively.
The demand for wood and wooden furniture has increased manifold in India with the sale of Furniture Hardware in India showing positive growth. The numbers are steeper in metro cities like Bangalore, Delhi, Bombay.
Engineered wood used to brace or support furniture frame has been extensively undergoing distribution through a vast channel. Recent reports reveal the substantial growth and demand in wooden furniture has single-handedly increased the demand for furniture hardware indirectly. One primary reason for this could be the dynamic development of housing sectors paired in with a structured lifestyle which is encouraging more and more homeowners to invest in quality furniture.
- Godrej Interio
- Urban Ladder
- Zuari Furniture
- Usha Lexus Furniture
Acknowledging the growing popularity of the furniture and furniture hardware market in India, international brands like IKEA, EVOC, HULSTA and more are either franchising their product overseas or tying a firm business partnership with the local furniture suppliers in India.
In fact, multinational corporation, headquartered in Bangalore has branched out to create a distinct furniture wing of their own, popularly known as Wipro Furniture, a part of Wipro Ltd. The wing specializes in a diverse range of proficient office furniture from benches and cabinets to modern workstations.
The furniture hardware market too has some profound brands working hand in hand, such as-
- Roto Frank Asia branched in Mumbai
- McCoy 8M branched in Delhi
- Hilti spread across India with multiple retail centers present
- Schlegel India with multiple retail in India and an International foothold across the boundaries
- Siegenia India
With the marching growth of the furniture industry, the furniture hardware market has been facing immense workload pressure, causing budding brands like Ace Hardware, J P Hardware, ENOX, Balaji Hardware, and more to proactively be a part and parcel of the furniture hardware company.
The finesse of wooden furniture has caught the eye of the audience and India, hence, now has an actively propagating furniture industry. The supporting brands assisting the big moguls with supporting parts are reported to be in on the progress bar. In fact, the furniture hardware market has more clients now than before with many small budding brands opening up their own furniture boutique.
The anticipated boost in modular furniture settings has opened up endless, unbelievable opportunities for the furniture hardware owners with the modern furniture requiring stern fitting and accessory parts. With even the suburbs of India now undergoing rapid growth and change, the concept of housing societies and intricately decorated home furniture has raised quite an alarming demand in the furniture market.
The furniture market in India is expected to expand by 12.91% as revealed by a 2016-2023 forecast. With the urbanization growing manifold, the furniture hardware market catering directly to these big furniture industry moguls are expected to match shoulder with the furniture industry and proliferate in the near future.