According to the latest research report, the drawer slides market by Arizton Advisory & Intelligence will grow at a CAGR of 5.14% during 2023-2029.
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Report Summary
Market Size (2029): $3.51 Billion
Market Size (2023): $2.60 Billion
CAGR (2023-2029): 5.14%
Historic Year: 2020-2022
Base Year: 2023
Forecast Year: 2024-2029
Market Segmentation: Extension Type, Mounting Type, Mechanism Type, Motion Type, Load Type, Material Type, Application, End-user, and Geography
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Market Overview
The global drawer slides market is driven by increased installations in new construction, renovations, and urbanization, affecting residential and commercial buildings. The demand for modular interiors, growing disposable income, and urban modernization also boost the market. Innovations and eco-friendly technologies further fuel growth, though competition from advanced drawer slide technologies poses challenges.
Construction and renovation projects in residential and non-residential sectors, including the installation of modern furniture, support market expansion. Manufacturers are capitalizing on this growth by diversifying product offerings and expanding geographically through new products, acquisitions, and strategic development.
In 2023, the APAC region dominated the market, followed by North America and Europe, driven by industrial growth and increased construction and furniture industry activities. Latin America, the Middle East & Africa also show significant market expansion potential. The need for precision slides is rising with the growing construction sectors.
The market is expected to become highly fragmented as more vendors, particularly Chinese manufacturers, enter, potentially leading to price wars. R&D investments could result in superior products with better usability and design. Socioeconomic conditions significantly impact product success, and companies are now targeting untapped emerging markets.
DIY Culture Booming the Market Sales
Many adults in developed economies like the US and Europe actively engage in creative and purposeful leisure pursuits, often involving home improvement and maintenance projects. This DIY trend is significant in countries such as France, Germany, Italy, and the UK and is gaining traction in developing economies like India, Brazil, and South Africa. Residential consumers frequently undertake repair and enhancement projects to improve their skills and save costs.
The DIY home improvement market, driven by personal interests, is expected to grow at a CAGR of 24.67% between 2019 and 2024, according to the North American Hardware and Paint Association (NHPA). Power tools, essential for DIY activities like woodworking, indirectly increase the demand for drawer slides. Additionally, stores like Home Depot, which offer a wide array of DIY projects, stimulate the market for DIY tools and contribute to the growth of the drawer slides market.
Watch Out How Top Vendors Are Making Moves in the Drawer Slides Market
Market competition is projected to increase as companies expand their product offerings, embrace technological advances, and engage in more mergers and acquisitions, leading to diverse drawer slides in the market. According to Arizton, global players are expected to pursue inorganic growth strategies by acquiring regional or local players in the foreseeable future. Additionally, companies with robust technical and financial capabilities will develop innovative products with essential accessories, posing a threat to competitors and potentially rendering their offerings obsolete before they can recoup their research, development, and commercialization expenses. This trend creates a dynamic and competitive landscape in the drawer slides market.
Key Players:
Blum Inc: With a presence in over 120 countries, Blum Inc. has established itself as a global leader in the furniture hardware industry. The company’s extensive reach contributes to its market dominance. Blum Inc. maintains high customer satisfaction through responsive support and reliable after-sales services. The company is committed to understanding and meeting customer needs, fostering long-term relationships, and building brand loyalty.
Crestview Partners (Accuride International Inc): Crestview Partners has a strong global presence across North America, Europe, and Asia, enabling them to serve diverse markets and customer segments. The company offers a wide range of products for various applications and industries, including automotive, aerospace, furniture, and industrial equipment. This diversification helps mitigate risks associated with market fluctuations in specific sectors.
Titus Group: Titus Group is committed to sourcing sustainable resources based on ethical standards, enhancing its corporate image. The company promotes purposeful innovations that improve people’s lives, with a unique focus on social causes and environmental concerns. These strategies set Titus Group apart in the market.
Key Company Profiles
- Titus Group
- Crestview Partners (Accuride International Inc)
- Blum Inc
- The Hettich Group
- Grass GmbH & Co.
- Hafele GmbH & Co KG
- Formenti & Giovenzana S.p (FGV)
- King Slide Works Co. Ltd
- Chambrelan
- Guangdong Taiming Metal Products Co., LTD
- Guangdong Dongtai Hardware Group
- Knape & Vogt Manufacturing Company
- ITW Proline (Prestige)
- SALICE
- General Devices
- Jonathan Engineered Solutions (JLL Partners)
- Sugatsune Kogyo Co.
- Maxave Group
- Fulterer AG & CO KG
- Meaton
- King Slide Works Co., Ltd
- Formenti & Giovenzana
- SISO Denmark
- Italik Metalware Pvt Ltd
- V N Enterprises
Market Segmentation
Extension Type
- Full Extension
- Over Travel
- Partial Extension
- Two-way Extension
Mounting Type
- Side Mount
- Undermount
- Other Mounting Type
Mechanism Type
- Ball Bearing
- Roller Slides
- Other Mechanisms
Motion Type
- Soft Closing
- Self Closing
- Push-to-Open
Load Type
- Light Duty
- Medium Duty
- Heavy Duty
Material Type
- Steel
- Aluminum
- Wood
- Other Materials
Application
- Industrial
- Commercial
- Residential
End-user
- Furniture Manufacturing
- Interior Designers
- DIY-Enthusiasts
Geography
- APAC
- China
- Japan
- India
- South Korea
- Australia
- North America
- The US
- Canada
- Europe
- Germany
- The UK
- France
- Italy
- Netherlands
- Spain
- Belgium
- Sweden
- Latin America
- Brazil
- Mexico
- Argentina
- Middle East & Africa
- South Africa
- Saudi Arabia
- The UAE
- Turkey
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