Global Furniture Market Report by Goldstein Research

Furniture market globally has its increasing foothold. With the rapid urbanization in a region real estate market also tends to grow thus driving the growth in demand for furniture. Moreover, the millennial population is majorly creating the demand for advanced and functional furniture, impacting largely the growth of furniture market globally. Global furniture market segmentation has been carried out on the basis of product type, material type, end users, distribution channel, and region. Based on the distribution channel, the online furniture portals is significantly contributing to the growth of world furniture market and over the forecast period, it expected to harness considerable market share.

According to Goldstein Research, world furniture market size expected to reach more than USD 550 billion by 2024 from USD 400 billion in 2016, growing at a compounded annual growth rate of 4.2% over the forecast period 2016-2024.

Global furniture market is majorly driven by the Asia Pacific, majorly India and China in terms of both manufacturing and consumption of furniture. The major factors are the immense supply of raw material for the manufacturing of furniture and the highest population of millennial is in APAC region, creating high demand for the furniture market.

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Market Segmentation

On the basis of our in-depth analysis, Global Furniture Market can be segmented as follows:

By Product Type

• Seating
• Sleeping
• Tables
• Storage

By Material Type

• Wood
• Plastic
• Metal
• Leather
• Glass

By End Users

• Residential
• Commercial

By Distribution channel:

• Online Channels
• Offline Channels (wholesaler, retailers, Agents etc )

By Region

• North America (US, Canada) {Market Share (%), Market Size (USD Billion, Adoption Rate (%)}
• Europe (UK, France, Italy, Germany, Spain, Hungary, Sweden, Russia, Poland and Rest of Europe) {Market Share (%), Market Size (USD Billion), Adoption Rate (%)}
• Middle East and Africa (GCC Countries, North Africa, South Africa and Rest of Middle East & Africa) {Market Share (%), Market Size (USD Billion), Adoption Rate (%)}
• Latin America (Brazil, Mexico and Rest of Latin America) {Market Share (%), Market Size (USD Billion), Adoption Rate (%)}
• Asia Pacific (China, Japan, India, Singapore, South Korea, Australia, New Zealand and Rest of Asia-Pacific) {Market Share (%), Market Size (USD Billion), Adoption Rate (%)}
• Rest of the World {Market Share (%), Market Size (USD Billion), Adoption Rate (%)}

“Global Furniture Market Outlook 2024” contains a detailed overview of the global furniture market. On the basis of our in-depth analysis, the market can be segmented in terms of market segmentation by product type, material type, end users and distribution channel.

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Further, for the in-depth analysis, Global Furniture Industry Report encompasses the industry growth drivers, market challenges, risk analysis, market attractiveness, BPS (Base Point Scale) analysis, Porter’s five force model and SWOT analysis. This market report also includes competitive outlook of some of the major players profiling of companies such as IKEA, Williams-Sonoma, Ashley Furniture, Steel Case, Godrej Interio, Rooms To Go, TJX, Herman Miller, HNI, Okamura, 9to5 Seating, Clarin, Creative Wood, Kimball International, etc. The company profiles include business strategy, geographical revenue distribution, major information of the companies which encompasses business outlook, products, services, and industries catered, financial analysis of the company and recent developments.

Furniture market expected to reach more than USD 450 billion by 2024. More than 40% production of furniture comes from high income countries such as Germany, United States, Italy, France and the UK. Growing presence of major furniture market players to tap the unorganized market is one of the major factors driving the growth of global RTA furniture market

Overall, the furniture market report represents the market trends along with the market statistics, forecast that will help industry consultants, technology providers, existing players searching for expansion opportunities, new players searching possibilities and other stakeholders to align their market-centric strategies according to the ongoing and expected trends in the future.

Key questions answered in this Global Furniture Market Report
• What is the Global Furniture Market Size by 2024 and what would be the expected growth rate of the industry?
• What is the total revenue per segment and region in 2015-16 and what would be the expected revenue per segment and region over the forecast period?
• What are the furniture market trends?
• What are the factors which are driving this industry?
• What are the major barriers to furniture industry growth?
• Who are the key vendors in this industry space?
• What are the industry opportunities for the existing and entry-level players?
• What are the recent developments and business strategy of the key players?
Global furniture market is further bifurcated in various segments with separate industry analysis mentioned below:

Global Outdoor Furniture and Accessories Market

Global outdoor furniture market is majorly driven by the fashion and trends in home decorating and housing sector by using decorative and outdoor furniture. Rising number of visitors to these parks and leisure spaces are likely to propel the growth of outdoor furniture market.

Office Furniture Market

With the increasing globalization, new office space is being developed which is pushing the demand for office furniture. Office furniture market size is set to reach USD 96.2 billion by 2024 from the current USD 61.2 billion, growing at a CAGR of 5.8% over the forecast years. The growth of the market is driven by the price, quality and technology of the office furniture.

Global Healthcare Furniture Market Analysis

The healthcare furniture includes all the movable & stationary furniture in the diagnostic office & labs, waiting area, and patient ward. Global healthcare furniture market size is set to grow at a CAGR of 6.8% over the forecast period 2017-2025. The increasing number of hospitals and other healthcare facilities coupled with the increasing number of patients all over the world is driving the growth of healthcare furniture market.

Global Smart Bed Market

Smart beds refer to technological advancement of beds that provides users to extend their beds beyond their conventional functionality, by automatically optimizing the settings of bed according to the comfort of users. The global smart bed market valued USD 2.6 billion in 2016 owing to rising implementation in hospitals across the globe. Further, the market is anticipated to expand at a CAGR of 7.9% to reach USD 4.8 billion over the forecast period i.e. 2016-2024.

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