“The Household Furniture Market Research Report” examines the existing as well as sequential performance of the worldwide market. The report also calculates the forthcoming status of Household Furniture market based on thorough analysis. By providing exploratory techniques such as, qualitative and quantitative analysis the report presents a comprehensive analysis of market progression. Graphical presentation of information through charts, (graphs, diagrams, tables as well as pictures), the report provides a lucid and easy understanding of the market to readers.
The global household furniture market reached a value of nearly $235.3 billion in 2018 and is expected to grow at a compound annual growth rate (CAGR) of 8.1% to nearly $347.6 billion by 2023. Factors such as growth in the residential construction market, rising internet penetration, the rising popularity of eco-friendly products and lifestyle changes are contributing to the growth of the market. The household furniture market is challenged by restraints such as a skilled workers shortage, government regulations and trade protectionism.
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Regional Outlook of Household Furniture Market report includes the following geographic areas such as: United States, Europe, China, Japan, Southeast Asia, India, Central & South America and ROW
Companies Covered (Sales, Price, Revenue, Volume, Gross Margin and Market Share)-
Inter Ikea Holding B.V., Ashley Furniture Industries Inc., La-Z-Boy Incorporated, Man Wah Holdings Limited, Steelcase Inc. and Other.
The wood furniture segment accounted for the largest share of the household furniture market in 2018 at $161.3 billion. The highest growth is also projected to come from the wood furniture segment, which is forecast to grow at a CAGR of 8.4% to 2023. This growth is mainly due customer preference for wooden furniture products over those made from other materials for aesthetic reasons and because they are more resistant to wear and tear and not prone to rust like metal furniture. Bedroom furniture was the largest segment by area of use in the global household furniture market in 2018, with 53.3% of the market, worth $125.5 billion in 2018.
Asia Pacific was the largest region in the household furniture market in 2018, accounting for 42.0% of the global market. It was followed by Western Europe and North America. Going forward, the fastest growth in the household furniture market will take place in Asia Pacific where it is forecast to grow at a CAGR of 9.6%, followed by Western Europe, where growth at a CAGR of 8.1% is expected. China is the largest country in terms of value in the household furniture market. China and Italy are forecast to have the fastest growth, rising at a CAGR of 11.1% and 10.0% respectively.
The market for household furniture is fragmented. Major players in the market include Inter IKEA Holding B.V., Ashley Furniture Industries, Inc., La-Z-Boy Incorporated, Steelcase Inc., Man Wah Holdings Limited.
Major opportunities in the household furniture market will arise in China, where the market will gain $40.6 billion of annual sales between 2018 and 2023, the USA, where $18.4 billion will be added to the market, and the global wood furniture segment, which will put on $13.5 billion of extra sales in that period. To take advantage of these opportunities, household furniture manufacturers should consider strategies such as a focus on ready-to-assemble furniture manufacturing, using virtual prototyping tools to accelerate the design process and launching eco-friendly furniture to cater to the rising demand for furniture products produced from sustainable environmentally-friendly practices to cater to the rising demand for furniture products produced from sustainable environmentally-friendly practices.
More importantly, the report underscores participant’s financial performance which includes assessment of capital investments, cash flow, Household Furniture sales volume, pricing structure, cost structure, gross margin, profitability, revenue outcome, and growth rate. The assessments enable market players to determine competitors’ financial strengths and dominance across the globe. Furthermore, the report analyzes business strategies adopted by participants that usually comprise recent business expansions, mergers, acquisitions, ventures, partnerships as well as promotional activities, technology adoption, brand developments, and product launches.
Influence Of The Household Furniture Market Report:
-Comprehensive assessment of all opportunities and risk in the market.
-Household Furniture market recent innovations and major events.
-Detailed study of business strategies for growth of the market-leading players.
-Conclusive study about the growth plot of Household Furniture market for forthcoming years.
-In-depth understanding of market-particular drivers, constraints and major micro markets.
-Favorable impression inside vital technological and market latest trends striking the market.
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– Free country Level analysis for any 5 countries of your choice.
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Finally, all aspects of the Global Household Furniture Market are quantitatively as well qualitatively assessed to study the Global as well as regional market comparatively. This market study presents critical information and factual data about the market providing an overall statistical study of this market on the basis of market drivers, limitations and its future prospects. The report supplies the international economic competition with the assistance of Porter’s Five Forces Analysis and SWOT Analysis.
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