LONDON--(BUSINESS WIRE)--Technavio has announced the top five leading vendors in their recent recliner sofa market in the US 2017-2021 report. This market research report also lists 13 other prominent vendors that are expected to impact the market during the forecast period.
Competitive vendor landscape
According to the research analysis, the recliner sofa market in the US is expected to grow at a CAGR of close to 7% during the forecast period. The recliner sofa market in the US is significantly competitive due to the presence of various players both global and regional. These players provide reclining sofas in single seater and multi-seater versions. Different raw materials and styles are marketed by competitors to create product differentiation in the market. People in the US market look for innovative solutions in the furniture segment, which could serve more comfort. Millennials contribute to a high demand for modern designs and innovations in recliner sofas. Power reclining sofas are one of the latest instances in product innovation.
According to Tamal Saha, a lead analyst at Technavio for furniture and home furnishing research, “Manufacturers compete based on style, quality, price, delivery, durability, reliability, and services. Online retailing has also resulted in the rise in competition among vendors. The rising Internet and smartphone penetration has driven the e-commerce market due to which vendors seek additional revenue by selling their products online. Nowadays, vendors believe in following the omnichannel retailing concept that helps them to gain more revenue.”
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Technavio market research analysts identify the following key vendors:
Ashley Furniture Industries
Ashley Furniture Industries is one of the leading global furniture manufacturing company based in Wisconsin, US. It manufactures and markets home furniture through different retail partners in the US and across the world. It also has its own online store named as Ashley HomeStores through which the company sells its products. Ashley HomeStores operates as a subsidiary of Ashley Furniture Industries and is also a home furnishings retailer. The company's physical stores are located in Mexico, the US, Canada, Central America, and Japan.
Heritage Home Group
The Heritage Home Group is one of the leading players in the home furnishings market in the US. The company designs, manufactures, sources, and retails home furnishing products under different brands. The company sells its products through different channels including through its own retail stores, interior designers, independent retailers, and mass merchant stores. Its product offerings include motion sofas, lamps, furniture, recliners, mirrors, and accessories.
La-Z-Boy is one of the leading companies based in the US. The company manufactures upholstered furniture for residential and office purposes. The company's product offerings include recliners, chairs, sofas, sectionals, ottomans, book cases, desks, cabinets, as well as dining room and bedroom furniture. The company sells its products through mass merchandisers, department and furniture stores, and La-Z-Boy showcase galleries.
Man Wah Holdings
Man Wah Holdings is a company that manufactures and markets recliner sofas. It also manufactures and sells bedding and mattress accessories. The product range offered under different brands of the company includes CHEERS, Fleming, and Morewell. The wholesale segment manufactures and sells sofas as well as ancillary products through distributors and wholesalers in North America, China, Europe, and other overseas markets.
Williams-Sonoma operates as a multi-channel specialty retailer. The company's retail stores are located in the US, Puerto Rico, Canada, Australia, and the UK. The e-commerce segment sells the company's products under eight brands, namely Williams Sonoma, Pottery Barn, Pottery Barn Kids, West Elm, PBteen, Williams Sonoma Home, Rejuvenation, as well as Mark and Graham. The company sells its products through its own e-commerce websites and direct mail catalog.
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