Furniture Market – 48% of Growth to Originate from APAC|Driven by Increasing Residential & Commercial Construction

Key Market Dynamics:

  • Market Drivers – The increasing residential and commercial construction is the factor driving the furniture market growth. Significant investments for infrastructural development in developed economies and favorable government initiatives and urbanization in emerging economies are expected to increase the demand for furniture across the world. The increasing construction of residences, offices, and commercial complexes is one of the significant factors influencing the growth of the furniture market size.
  • Market Trends –   Vendors in the global furniture market are entering into strategic alliances and partnerships to enhance their operational efficiency. Such strategic alliances and acquisitions will also allow vendors to offer end-to-end furniture solutions, expand their range of services, and transform themselves into global lifestyle brands. The increasing number of strategic alliances and partnerships has been identified as one of the critical furniture market trends, which will fuel the market growth.
  • Market Challenges – The factors such as high exposure to global economic factors may impede the market growth.

To learn about additional key drivers, trends, and challenges –  Download our FREE Sample Report right now!

Segmentation Analysis

The furniture market report is segmented by Product (Home, Office, and Others) and Geography (APAC, Europe, North America, South America, and MEA).  

The home segment will be significant for revenue generation. Urbanization in emerging economies and the growth of the real estate sector in developed economies are some of the factors boosting the demand for home furniture. The increasing government initiatives for urban housing development and the rising demand for multifunctional furniture will also contribute to furniture market growth in the home segment.

View our sample report for additional insights into the contribution of all the segments

Some Companies Mentioned

The furniture market is fragmented and the vendors are deploying growth strategies such as product innovation to compete in the market. The report analyzes the market’s competitive landscape and offers information on several market vendors, including:

    • Ashley Furniture Industries Inc.
    • Berco Designs
    • Godrej & Boyce Manufacturing Co. Ltd.
    • Herman Miller Inc.
    • HNI Corp.
    • Inter IKEA Holding BV
    • Kimball International Inc.
    • Okamura Corp.
    • Steelcase Inc.
    • Williams-Sonoma Inc.
  • To gain access to more vendor profiles with their key offerings available with Technavio, Click Here

Related Reports:

  • The contract furniture and furnishing market in Europe is expected to increase by USD 3.72 billion from 2021 to 2026, and the market’s growth momentum will accelerate at a CAGR of 4.32%. Download a free sample now! 
  • The luxury furniture market in APAC is expected to increase by USD 2.00 billion from 2021 to 2026, and the market’s growth momentum will accelerate at a CAGR of 5.38%. Download a free sample now!

Furniture Market Scope

Report Coverage

Details

Page number

120

Base year

2020

Forecast period

2021-2025

Growth momentum & CAGR

Accelerate at a CAGR of 4%

Market growth 2021-2025

USD 134.70 billion

Market structure

Fragmented

YoY growth (%)

3.90

Performing market contribution

APAC at 48%

Competitive landscape

Leading companies, competitive strategies, consumer engagement scope

Companies profiled

Ashley Furniture Industries Inc., Berco Designs, Godrej & Boyce Manufacturing Co. Ltd., Herman Miller Inc., HNI Corp., Inter IKEA Holding BV, Kimball International Inc., Okamura Corp., Steelcase Inc., and Williams-Sonoma Inc.

Market Dynamics

Parent market analysis, Market growth inducers and obstacles, Fast-growing and slow-growing segment analysis, COVID 19 impact and future consumer dynamics, market condition analysis for forecast period.

Customization purview

If our report has not included the data that you are looking for, you can reach out to our analysts and get segments customized.

Key Topics Covered:

Executive Summary

Market Landscape

  • Market ecosystem
  • Value chain analysis

Market Sizing

  • Market definition
  • Market segment analysis
  • Market size 2020
  • Consumer discretionary industry
  • Market outlook: Forecast for 2020 – 2025

Five Forces Analysis

  • Five forces summary
  • Bargaining power of buyers
  • Bargaining power of suppliers
  • Threat of new entrants
  • Threat of substitutes
  • Threat of rivalry
  • Market condition

Market Segmentation by Product

  • Market segments
  • Comparison by Product
  • Home – Market size and forecast 2020-2025
  • Office – Market size and forecast 2020-2025
  • Others – Market size and forecast 2020-2025
  • Market opportunity by Product

Customer landscape

Geographic Landscape

  • Geographic segmentation
  • Geographic comparison
  • APAC – Market size and forecast 2020-2025
  • Europe – Market size and forecast 2020-2025
  • North America – Market size and forecast 2020-2025
  • South America – Market size and forecast 2020-2025
  • MEA – Market size and forecast 2020-2025
  • Key leading countries
  • Market opportunity by geography
  • Market drivers
  • Market challenges
  • Market trends

Vendor Landscape

  • Overview
  • Landscape disruption

Vendor Analysis

  • Vendors covered
  • Market positioning of vendors
  • Ashley Furniture Industries Inc.
  • Berco Designs
  • Godrej & Boyce Manufacturing Co. Ltd.
  • Herman Miller Inc.
  • HNI Corp.
  • Inter IKEA Holding BV
  • Kimball International Inc.
  • Okamura Corp.
  • Steelcase Inc.
  • Williams-Sonoma Inc.

Appendix

  • Scope of the report
  • Currency conversion rates for US$
  • Research methodology
  • List of abbreviations

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