The global Cupboard market is anticipated to grow at a CAGR of 3.8 % during the forecast period (2022-2028). The cupboard also known as a wardrobe or cabinet is a storage solution to keep clothes & other items to keep them organized and safe from the outer environment. The major factor attributing to the growth of the global cupboard market is the increasing use of cupboards due to several benefits provided by cupboards. The benefits include better use of space, motivation to de clutter, custom zones for different items, compliments to house interiors, and many others. Thus, increasing the demand for cupboard market during the forecast period.
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The manufacturing of cupboards made of metals including iron, aluminum, steel, and others is also increasing due to increasing metal mining across the globe. According to an article published by World Economic Forum in collaboration with Visual Capitalist in October 2021, an estimation of around 3.24 billion tonnes of metal was mined in 2019. Among these, iron ore is the major produced metal accounting for around 3 billion tonnes of iron ore mined representing 93.5% of total metal production. Adding to it, around 207 million tonnes of industrial metal and around 1.3 million tonnes of technology & precious metal were produced in 2019. Furthermore, the residential use of cupboards is also increasing in houses due to the increasing number of houses across the globe. According to an article published by Architectural Design in November 2021, an estimated number of around 2.8 billion houses are built across the globe. Thus, contributing to the growth of the global cupboard market.
Some major players in the market include Artemest s.r.l., First Service Corp., Chaplains Furniture Ltd., Griffon Corp. Inc., and The Stow Co., among others. The market players are also contributing significantly to the growth of the market by the adoption of various strategies including mergers and acquisitions, geographical expansion, partnerships, collaborations, and new product launches, to stay competitive in the market. For instances
- In January 2020, The Samsung Group, a global electronic & construction company launched a new smart wardrobe for households in the UK. The new wardrobe is equipped with the feature to remove or kill all kinds of viruses, bacteria, or germs from the clothes kept in it.
- In March 2019, Masco Corp. announced the divestiture of its cabinetry and windows business by selling Masco Cabinetry and Windows Business in UK.
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Market Coverage
- The market number available for – 2021-2028
- Base year- 2021
- Forecast period- 2022-2028
- Segment Covered-
- By Material Type
- By Application
- Regions Covered-
- North America
- Europe
- Asia-Pacific
- Rest of the World
- Competitive Landscape- Artemest s.r.l., First Service Corp., Chaplains Furniture Ltd., Griffon Corp. Inc., The Stow Co., among others.
Key questions addressed by the report
- What is the market growth rate?
- Which segment and region dominate the market in the base year?
- Which segment and region will project the fastest growth in the market?
- How has COVID-19 impacted the market?
- Deviation from the pre-COVID-19 forecast
- Most affected region and segment
- Who is the leader in the market?
- How players are addressing challenges to sustain growth?
- Where is the investment opportunity?
Global Cupboards Market Report by Segment
By Material Type
- Wood
- Iron
- Aluminum
- Steel
- Glass
- Others
By Application
- Household
- Commercial
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