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Introduction
Lift-up hinges are an essential component of modern high-end home furnishings. They provide a sleek and functional design that elevates the look of any furniture piece. With the increasing demand for sophisticated home décor, the market for lift-up hinges is expected to grow in the coming years. This article will provide an outlook on the market for lift-up hinges in high-end home furnishings.
Market size and growth rate
According to a recent report by Grand View Research, the global market for lift-up hinges was valued at USD 1.5 billion in 2020 and is expected to grow at a compound annual growth rate (CAGR) of 5.2% from 2021 to 2028. The growth in the market can be attributed to the increasing demand for customized and modular furniture, which requires innovative and functional hardware solutions like lift-up hinges. Additionally, the rise in disposable income and the growing trend of home renovation and interior decoration are also expected to drive the market growth.
Key players and competitive landscape
The market for lift-up hinges is highly competitive, with several leading players operating in the market. Some of the key players in the market include Blum, Hettich, Grass, Ferrari, and Salice. These companies are focusing on product innovation and development to maintain their market position. For instance, Blum has recently launched a new lift-up hinge system, AVENTOS HK top, which provides a high degree of freedom in design and functionality. Similarly, Hettich has introduced a new hinge system, Sensys, which offers a silent and smooth closing mechanism.