Drawer Slides Market size, Share, Growth, Industry Demand and Forecast to 2024 | Hexa Research

Rapid industrialization in the Asia-Pacific region, especially in India and China is positively influencing the market demand for drawer slides.

Drawers are extensively used for storing things. For a drawer, slides are the most important part acting as a supporting structure without which drawer could not be installed. Technological advancements have enabled the introduction of drawer slide with an integrated lock which is one of the reasons for the product demand globally.

Drawer slides are designed for drawers used in industrial purposes such as tool boxes, laboratory furniture, medical cabinets, IT enclosures, stillages and warehousing. Rapid industrialization in the Asia-Pacific region, especially in India and China is positively influencing the demand for drawer slides. With the increase in public transportation buses, the need for vehicle batteries, emergency vehicle equipment, electronic equipment and luggage compartment accelerated which in turn raised the demand for heavy duty slides required for these high load weights. These slides are plated with aluminum or bronze to comply with the ANSI standards in order to provide rust-resistance and anti-microbial protection which gives additional protection to the product and guarantee durability which is also expected to contribute to the market growth over the forecast period. Increasing incidences of occurrence of fire has augmented the demand for rescue vehicles that use drawer slides for their equipment drawers.

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Moreover, increasing use of architectural wooden drawers in areas such as office furniture, kitchens and bathrooms, TV cabinets, home office, retail displays, residential furniture and audio visual installations are to drive the market demand over the forecast period. Technological innovations in this product such as ‘touch-release’ drawer slide that allows drawer to open by pressing gently on the drawer front and thereby eliminating the need for knobs are to spur the drawer slides demand in the long run. Slides are available for self closing drawers that maximize the space in the area by returning drawers to the closed position. Also, soft close, motorized and mechanical lift drawer slides will accelerate the demand for the product in the near future.

Cash drawers in every house and retail stores require ball bearing slides. The increasing use of ATM machines, gaming machines, ticket machines, food and drink dispensing equipment which needs drawer slides are expected to contribute to the market growth.. Stainless steel slides for harsh environments such as laboratories, clean rooms, chemical storage, locker rooms, food preparation and horticulture are witnessing high demand and the trend is expected to continue in the long run. However, fluctuation in steel prices which is a major raw material used in manufacturing of slides poses a challenge to drawer slides market. Over the last few years, fluctuations in steel prices had a negative impact on the market.

The market can be segmented on the basis of end-use industry, product type and material type. Drawer slides has various end-use application segments such as architectural, industrial storage, transport, emergency services vehicles, woodworking projects, retail and display, vending and cash handling, office and domestic furniture, domestic appliances, media and audio visual, medical and general electronics. The wooden drawers which are primarily used  in areas such as kitchen, home, office and TV cabinets dominated the market in the recent past.

On the basis of product type, the market for drawer slides is classified as touch release drawer slides, self closing, soft close, undermount and side mount slides, motorized and mechanical lift, electronic locking slides, cabinet slides, ball bearing slides, overtravel slides, full extension and heavy duty drawer slides. The full extension slides used in wooden drawers ranging from kitchen to office is one the leading product segment witnessing high demand globally. On the basis of material, the market is segmented as stainless steel or aluminum.

The Asia-Pacific region currently dominates the drawer slides market. The growth is primarily driven by rapid industrialization, rising residential projects and high disposable income in this region especially in China and India. Middle East region is also observing proliferation in the demand of drawer slides on account of infrastructure developments and increasing investments in retail and hospitality centers.

Key players in this market include Knape & Vogt Manufacturing Company, Blum Inc., Accuride, Fulterer, INDAmatic, Rockler Companies, Inc., Inter IKEA Systems B.V., King Slide Works Co. Ltd. and ITW Proline (Subsidiary of Prestige). Leading players are trying to achieve inorganic growth by acquiring emerging players.

In June 2013, Knape & Vogt Manufacturing Company acquired CompX International, Inc. furniture operations consisting of Waterloo Furniture Components and Dynaslide which helped the company to get access to new customers and markets, and distribution channels.

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