LONDON--(BUSINESS WIRE)--Technavio has been monitoring the furniture market and it is poised to grow by USD 113.61 billion during 2020-2024, progressing at a CAGR of almost 4% during the forecast period. The report offers an up-to-date analysis regarding the current market scenario, latest trends and drivers, and the overall market environment.
Impact of COVID-19
The COVID-19 pandemic continues to transform the growth of various industries. However, the immediate impact of the outbreak is varied. While a few industries will register a drop in demand, numerous others will continue to remain unscathed and show promising growth opportunities. COVID-19 will have a low impact on the furniture market. The market growth in 2020 is likely to increase compared to the market growth in 2019.
Frequently Asked Questions-
- Based on segmentation by product, which is the leading segment in the market?
- Home furniture is expected to be the leading segment based on product in the global market during the forecast period.
- What are the major trends in the market?
- Increasing number of strategic alliances and partnerships is one of the major trends in the market.
- At what rate is the market projected to grow?
- Growing at a CAGR of almost 4%, the incremental growth of the market is anticipated to be USD 113.61 billion.
- Who are the top players in the market?
- Ashley Furniture Industries Inc., Berco Designs, Godrej Consumer Products Ltd., Herman Miller Inc., HNI Corp., Inter IKEA Holding BV, Kimball International Inc., Okamura Corp., Steelcase Inc., and Williams-Sonoma Inc. are some of the major market participants.
- What are the key market drivers and challenges?
- Increasing residential/commercial construction is one of the major factors driving the market. However, the high exposure to global economic factors restraints the market growth.
- How big is the APAC market?
- The APAC region will contribute 47% of market growth.
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Global Wooden Furniture Market: The wooden furniture market size has the potential to grow by USD 44.86 billion during 2020-2024, and the market’s growth momentum will accelerate during the forecast period. To get extensive research insights: Click and Get FREE Sample Report in Minutes!
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The market is fragmented, and the degree of fragmentation will accelerate during the forecast period. Ashley Furniture Industries Inc., Berco Designs, Godrej Consumer Products Ltd., Herman Miller Inc., HNI Corp., Inter IKEA Holding BV, Kimball International Inc., Okamura Corp., Steelcase Inc., and Williams-Sonoma Inc. are some of the major market participants. The increasing residential/commercial construction will offer immense growth opportunities. In a bid to help players strengthen their market foothold, this furniture market forecast report provides a detailed analysis of the leading market vendors. The report also empowers industry honchos with information on the competitive landscape and insights into the different product offerings offered by various companies.
Technavio's custom research reports offer detailed insights on the impact of COVID-19 at an industry level, a regional level, and subsequent supply chain operations. This customized report will also help clients keep up with new product launches in direct & indirect COVID-19 related markets, upcoming vaccines and pipeline analysis, and significant developments in vendor operations and government regulations.
Furniture Market 2020-2024: Segmentation
Furniture Market is segmented as below:
- North America
- South America
To learn more about the global trends impacting the future of market research, download a free sample: https://www.technavio.com/talk-to-us?report=IRTNTR44836
Furniture Market 2020-2024: Scope
Technavio presents a detailed picture of the market by the way of study, synthesis, and summation of data from multiple sources. The furniture market report covers the following areas:
- Furniture Market Size
- Furniture Market Trends
- Furniture Market Analysis
This study identifies increasing number of strategic alliances and partnerships as one of the prime reasons driving the furniture market growth during the next few years.
Technavio suggests three forecast scenarios (optimistic, probable, and pessimistic) considering the impact of COVID-19. Technavio’s in-depth research has direct and indirect COVID-19 impacted market research reports.
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Furniture Market 2020-2024: Key Highlights
- CAGR of the market during the forecast period 2020-2024
- Detailed information on factors that will assist furniture market growth during the next five years
- Estimation of the furniture market size and its contribution to the parent market
- Predictions on upcoming trends and changes in consumer behavior
- The growth of the furniture market
- Analysis of the market’s competitive landscape and detailed information on vendors
- Comprehensive details of factors that will challenge the growth of furniture market vendors
Table of Contents:
- Market ecosystem
- Value chain analysis
- Market definition
- Market segment analysis
- Market size 2019
- Market outlook: Forecast for 2019 - 2024
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 2019-2024
- Office - Market size and forecast 2019-2024
- Others - Market size and forecast 2019-2024
- Market opportunity by Product
- Customer landscape
- Geographic segmentation
- Geographic comparison
- APAC - Market size and forecast 2019-2024
- Europe - Market size and forecast 2019-2024
- North America - Market size and forecast 2019-2024
- South America - Market size and forecast 2019-2024
- MEA - Market size and forecast 2019-2024
- Key leading countries
- Market opportunity by geography
- Market drivers
- Market challenges
- Market trends
- Vendor landscape
- Landscape disruption
- Vendors covered
- Market positioning of vendors
- Ashley Furniture Industries Inc.
- Berco Designs
- Godrej Consumer Products Ltd.
- Herman Miller Inc.
- HNI Corp.
- Inter IKEA Holding BV
- Kimball International Inc.
- Okamura Corp.
- Steelcase Inc.
- Williams-Sonoma Inc.
- Scope of the report
- Currency conversion rates for US$
- Research methodology
- List of abbreviations
Technavio is a leading global technology research and advisory company. Their research and analysis focuses on emerging market trends and provides actionable insights to help businesses identify market opportunities and develop effective strategies to optimize their market positions. With over 500 specialized analysts, Technavio’s report library consists of more than 17,000 reports and counting, covering 800 technologies, spanning across 50 countries. Their client base consists of enterprises of all sizes, including more than 100 Fortune 500 companies. This growing client base relies on Technavio’s comprehensive coverage, extensive research, and actionable market insights to identify opportunities in existing and potential markets and assess their competitive positions within changing market scenarios.