DUBLIN--(BUSINESS WIRE)--The "Furniture Market by Type, by Product Type, by Material Type, by End Use, by Distribution Channel, and by Price Range - Global Opportunity Analysis and Industry Forecast 2022-2030" report has been added to ResearchAndMarkets.com's offering.
The Furniture Market size was valued at USD 637.26 billion in 2021 and is predicted to reach USD 945.53 billion by 2030 with a CAGR of 4.5% from 2022-2030.
Furniture mainly refers to the movable objects that supports and enables basic everyday functions such as seating, eating, and sleeping. In addition to this, they are essential element for home decor. The common furniture includes objects such as tables, chairs, desks, beds, dressers, and cupboards. Such movable objects are usually kept in a house for suitable and comfortable living. They are manufactured using various materials and is available in different designs. It can be made of different materials, such as metal, plastic, glass, or wood. Ongoing infrastructural development is significantly contributing towards demand for the furniture in residential and commercial sectors.
The growth of the real estate and hospitality industries significantly drives growth of the global furniture market. For instance, governments across the globe are focusing on development of real estate through a number of commercial and residential projects, ultimately helping to foster economy and creating demand for furniture. In addition to this, the factors such as rising demand for luxury and premium furniture due to increase in disposable income of populations and government investments for infrastructural development is fuelling growth of the global furniture market.
However, lack of better transportation facilities coupled with the shortage of skilled labor are factors expected to restrain the growth of market during the forecast period. On the other hand, emergence of low-cost furniture by countries such as China and Vietnam create lucrative growth opportunities for the market. In addition, emergence & proliferation of smart furniture is anticipated to be opportunistic for market growth. For instance, according to the International Data Corporation, smart city projects around the globe are anticipated to attract technology investments of about $158 billion by 2022.
Key Market Segments
Furniture Market- By Type
- RTA
- Non-RTA
Furniture market- By Product Type
- Beds and Mattresses
- Sofas and Armchairs
- Entertainment Units
- Storage Units
- Tables and Desks
- Other Furniture's
Furniture market- By Material Type
- Plastic
- Wood
- Melamine
- Glass
- Steel
- Wrapped Panels
- Finished Foils
- Laminates
- Lacquered Panels
Furniture Market- By End Use
- Residential
- Commercial
Furniture Market -By Distribution Channel
- Home Centers
- Flagships Stores
- Specialty Stores
- E-commerce
- Other Distribution Channel
Furniture market- By Price Range
- High End Price Furniture
- Medium Price Range Furniture
Furniture Market- By Geography
- North America
- U.S
- Canada
- Mexico
- Europe
- UK
- Germany
- France
- Italy
- Spain
- Rest of Europe
- Asia-Pacific
- China
- India
- Japan
- South Korea
- Australia
- Rest of Asia-Pacific
- RoW
- UAE
- Saudi Arabia
- South Africa
- Brazil
- Remaining countries
Companies Mentioned
- Ashley Furniture Industries, Inc.
- Bassett Furniture Industries Inc.
- Berco Designs
- CYMAX GROUP TECHNOLOGIES LTD.
- INTER IKEA GROUP
- Kimball International, Inc.
- Godrej & Boyce Manufacturing Co., Ltd.
- Hooker Furniture
- Kohler Company
- HNI Corp.
- Steelcase Inc.
- KOKUYO
- Home Depot, Inc.
- Herman Miller Inc.
- Bene GmbH
- Dunn's Furniture
- Knoll Inc.
- Durham Furniture
- Krost Office Products
- Haworth Inc.
- Masterbrand Cabinets
- Meridian Office Group
- La-Z-Boy Incorporated
For more information about this report visit https://www.researchandmarkets.com/r/pxfn31
