U.S. 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:
builder motor vehicle furniture 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.