Global Furniture Hardware Market Competition and Trends: The Concentration Rate is Around 30%

Global Furniture Hardware Market Overview

According to Global Market Monitor, the global furniture hardware market size will reach $14.41 billion in 2024 and is expected to grow to$17.97 billion by 2029.Furniture hardware is the fixings, fittings, and individual pieces needed to create a working, durable piece of furniture to enhance its functionality or appearance, also called furniture accessories.

Market Competition

North America dominates the market and Europe ranks second. Companies are mainly from Europe and the industry concentration rate is low. The top three companies are Blum Inc., Hettich, and ASSA ABLOY with a revenue market share of 30%. The furniture hardware market is highly fragmented. Labor costs and rising material prices will drive industry consolidation, with large integrated suppliers and small professional supporting enterprises co-existing, and large leading enterprises expected to benefit from their brand advantages.

Global Furniture Hardware Industry Market Trend

With the modernization and intelligence of home improvement, enterprises must promote the metal products industry to mechanization, automation, and intelligent direction and accelerate the research and development design and core technological innovation of integrated kitchen, gas appliances, household goods, and sanitary products. Focus on the development of innovative products such as condensing gas fast water heaters, high-efficiency purifying hoods, high-efficiency gas cookers, intelligent energy-saving and healthy nonstick cookers, grease-free cookers, high-grade cutlery, water-saving thermostatic faucets and showers, and electronic intelligent locks. Increase the proportion of high-precision forging and die-casting equipment, CNC machining equipment, advanced heat treatment, and surface treatment equipment and tools used. Develop professional electroplating enterprises and centralized electroplating services, and strictly require compliance with emission standards. Support the construction of public service platforms in industrial cluster areas.

Furniture hardware will gradually shift to the market of buyers, more popular in high-end products. Furniture fittings in the overall value of the building is relatively low, but the impact of furniture fittings on the quality of life of people living in great, with the improvement of quality of life and labor costs, the maintenance, and repair costs rise, and 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 living standards, the rapid development of modern technology, and the attention paid by countries or regions to energy-saving construction, the extensive use of high-end furniture hardware will become the main development trend of future furniture hardware.

Company Name	Blum Inc
Website	www.blum.com
Established Time	1977
Headquarters	Höchst, Austria
Sales Region	Worldwide
Business Overview	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.

For more industry information, please refer to our latest released "2023 Global Furniture Hardware Market Analysis Report, Key Competitors, Market Effect Factors, Growth, And Forecast".