US Hardware Demand to Reach $13.7 billion in 2021
Advances will be driven by a continued rebound in building construction activity
CLEVELAND, May 19, 2017
CLEVELAND, May 19, 2017 /PRNewswire/ — US hardware demand is forecast to reach $13.7 billion in 2021, according to Hardware: United States, a report recently released by Freedonia Focus Reports. Suppliers will benefit from a continued rebound in building construction activity, which will generate demand for building products and furniture, and related hardware. In addition, continued growth in motor vehicle and other transport equipment output will provide opportunities for hardware suppliers.
Among the various segments, furniture hardware is expected to see the fastest demand growth to 2021. Sales will be stimulated by continued recovery in domestic furniture production from the declines of the 2007-2010 period. Strong growth in residential construction and improvement activities are expected to buoy US household furniture output. US office furniture manufacturing will be driven by rising business investment and nonresidential construction activity.
These and other key insights are featured in Hardware: United States. This report forecasts US hardware demand and shipments in US dollars at the manufacturers’ level to 2021. Total demand and shipments are segmented by market in terms of:
- motor vehicle
- other transport equipment
- other markets such as dolly and bulk, hand, panel, and platform trucks; appliances; and burial caskets
Excluded from the scope of this report are window covering hardware, coin-operated and time locks, and hardware produced from materials other than metal (eg, plastics, wood, ceramics, and glass). Also excluded are fasteners. However, the scope of Industrial Fasteners: United States covers standard and aerospace-grade fasteners. Window Coverings: United States includes window covering hardware. Re-exports of hardware are excluded from demand and trade figures.
To illustrate historical trends, total demand, total shipments, the various segments, and trade are provided in annual series from 2006 to 2016.
More information about the report is available at
About Freedonia Focus Reports
Each month, The Freedonia Group – a division of MarketResearch.com – publishes over 20 new or updated Freedonia Focus Reports, providing fresh, unbiased analysis on a wide variety of markets and industries. Published in 20-30 pages, Focus Report coverage ranges from raw materials to finished manufactured goods and related services such as freight and construction. Additional Building Products reports can be purchased at www.freedoniafocusreports.com or marketresearch.com.
Analysis is intended to guide the busy reader through pertinent topics in rapid succession, including:
- total historical market size and industry output
- segmentation by products and markets
- identification of market drivers, constraints, and key indicators
- segment-by-segment outlook in five-year forecasts
- a survey of the supply base
- suggested resources for further study.
To view the original version on PR Newswire, visit:http://www.prnewswire.com/news-releases/us-hardware-demand-to-reach-137-billion-in-2021-300460701.html
SOURCE The Freedonia Group