The Hardware Manufacturing Market Was Valued At USD 186 Billion In 2017
Posted by praneeth on July 26th, 2018
Hardware manufacturing includes establishments engaged in manufacturing metal hardware, such as metal hinges, metal handles, keys, and locks (except coin-operated, time locks).
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The global hardware manufacturing market was valued at USD 186 billion in 2017. Among regional markets, Asia Pacific was the largest geographic region accounting for more than one-third of the global market. The market saw a growth as recently, the metal powder bed fusion 3D printing (or additive manufacturing) technique is being utilized by hardware manufacturing industry to manufacture metallic parts in a short time and reduce tooling costs. These printers produce extremely intricate shapes and high-end components used in low-volume products, such as supercars, aircraft, satellites and medical equipment. 3D printing is also able to create voids inside objects far more easily than subtractive manufacturing hence it can manage and increase the range of possible designs.
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The USA was the largest country accounting for one-fifth of the global hardware manufacturing market. This can be attributed to the large automobile and telecom manufacturing market in the country. The USA was followed by India and China as the next largest countries in the market.
The top five competitors in the market are Allegion, Spectrum Brands followed by Assa Abloy, Aoyama Seisakusho (Japan), and Ningbo Jiulong Fasteners. Allegion Plc is a provider of security products and solutions for homes and businesses. It makes 31 global brands, including CISA, Interflex, LCN, Schlage and Von Duprin. The company sells products in more than 120 countries across the world.
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Joined: June 6th, 2018
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