September 29, 2022

Furniture Market Growth Analysis, Segmentation, Size, Share, Trend, Future Demand and Leading Players Updates by Forecast to 2028

The global furniture market size was USD 475.4 billion in 2020. This information is provided by Fortune Business Insights™, in its report, titled, “Furniture Market, 2021-2028.”

Closure of Furniture Shops amid COVID-19 Lockdown Constraints to Restrict Market Growth
The indeterminate existence of the COVID-19 lockdown limitations is leading to the closing down of upholstery shops around the globe.

List of Key Players Covered in the Furniture Market Report

  • Harman Miller Inc. (Michigan, U.S.)
  • Steelcase Inc. (Michigan, U.S.)
  • HNI Corporation (Lowa, U.S.)
  • Ashley Furniture Industries Inc. (Wisconsin, U.S.)
  • Duff & Phelps, LLC. (New York, U.S.)
  • Global Furniture USA (New Jersey, U.S.)
  • ZouYou (Shenzhen, China)
  • P & C ArteMobili SA (Nova Prata, Brazil)
  • Saudi Modern Factory Co. (Riyadh, Saudi Arabia)
  • DEDON GmbH (Luneburg, Germany)
  • Dare Studio (Worthing, England)

Report Coverage

The report offers valuable insights obtained by thorough study done by our researchers.

Driving Factors

Steady Launch of Groundbreaking and Lavish Furniture Pieces to Spur Growth

Regional Insights

Asia Pacific to Hold Dominant Position in the Market through 2028

Asia Pacific market was worth USD 223.9 billion in 2020.

What does the Report Provide?

The market report provides an in-depth analysis of several factors such as the key drivers and restraints that will impact growth. Additionally, the report provides insights into the regional analysis that covers different regions, contributing to the growth of the market. It includes the competitive landscape that involves the leading companies and the adoption of strategies to introduce new products, announce partnerships, and collaborate that will further contribute to the market growth in the forthcoming years. Moreover, the research analyst has adopted several research methodologies to obtain information about the current trends and industry developments that will drive the market growth between 2020 and 2027.

Increasing Adoption of User-Friendly Devices to Surge Demand

Technological advancements and the availability of high disposable income amongst the working population are leading to the high adoption of smart appliances. The manufacturers are focusing on developing user-friendly products that cater to consumer needs. For instance, a huge demand for smart appliances that offer voice assist, WIFI & Bluetooth connectivity, and faster networks is a driving factor for the considerable growth of consumer electronics.

The rapid-paced industrialization and urbanization has led to the massive development of the residential sector. The rising residential sector is proving to be beneficial for the increasing adoption of electronic products that will favor the global consumer electronics market growth in the forthcoming years.

Electronics Segment to Hold the Largest Market Share

Secondly, Based on product type, the electronics segment is expected to showcase exponential growth due to the high penetration of consumer electronic devices such as digital cameras, computers, TVs, laptops, and tablets, among others.

Presence of Established Players in Asia-Pacific to Augment Growth

Among all the regions, Asia-Pacific is expected to remain at the forefront and hold the highest position in the global market in the forthcoming years. This is attributable to the presence of established players such as Sony, LG, Panasonic, and Samsung that dominate the consumer electronic segment in the region. Asia-Pacific stood at USD 274.00 billion in 2019.

The market in Europe is expected to showcase significant growth backed by the growing demand for smart home appliances in countries such as the U.K., Germany, and France between 2020 and 2027.

Detailed Table of Content:

  • Introduction
    • Research Scope
    • Market Segmentation
    • Research Methodology
    • Definitions and Assumptions
  • Executive Summary
  • Market Dynamics
    • Market Drivers
    • Market Restraints
    • Market Opportunities
  • Key Insights
    • Overview of the Parent/Related Markets
    • Industry SWOT Analysis
    • Emerging Trends
    • Recent Industry Developments – Policies, Partnerships, New Product Launches, and Mergers & Acquisitions
    • Impact of COVID-19 on the Consumer Electronics Market
  • Global Consumer Electronics Market Analysis, Insights and Forecast, 2016-2027
    • Key Findings / Summary
    • Market Size Estimates and Forecast 
      • By Product Type (Value)
        • Electronic Devices
          • Television
          • Computer
          • Digital Camera & Camcorder
          • Others
        • Home Appliances
          • Refrigerator
          • Washing Machine
          • Air Conditioner
          • Others
      • By Distribution Channel (Value)
        • Offline
        • Online
      • By Region (Value)
        • North America
        • Europe
        • Asia Pacific
        • South America
        • Middle East & Africa

TOC Continued…!

Key Industry Development:

November 2020 – Samsung announced the launch of its new Smart Monitor that functions as a do-it-all screen. The company reports that the device is equipped with mobile and PC connectivity and entertainment Smart Hub features.

Industry Segmentation

  • Wood
  • Metal
  • Plastic
  • Others
  • Indoor
  • Outdoor
  • Residential
  • Office
  • Hotel
  • Others
  • North America
  • Europe
  • Asia Pacific
  • South America
  • Middle East and Africa

Report Coverage

The report offers valuable insights obtained by thorough study done by our researchers.

Driving Factors

Steady Launch of Groundbreaking and Lavish Furniture Pieces to Spur Growth

Competitive Landscape

Collaborations among Corporations to Safeguard Their Brand Values in Global Market

Firstly, One such tactic is to unveil novel products by teaming up with other companies to expand their reach to end-users.

Key Industry Development

May 2020: Theodore Alexander USA, Inc., who is a console table and chair products producer, teamed up with Ralph Lauren Corporation, a vital U.S. based fashion products company, to extend its business through the partner’s retail fashion stores based in the U.S.

Browse Detailed Overview of This Research:

https://www.fortunebusinessinsights.com/furniture-market-106357

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