Press release
Online Household Furniture Market Future Growth Trends Share Size Top Key Players HNI Corporation, Kimball International, Inc Herman Miller Forecast 2020-2025
The online furniture furniture market has also been particularly affected, but over the last four years, the online furniture furniture market size has remained relatively optimistic to keep the annual average growth rate at plus 5%. Analysts believe this in the next few years.The material segment is further segmented into metal, wood, plastic, glass, and others. The others segment includes leather, rubber, and hardware components. The wood segment held the largest market share in 2017 and is expected to expand at the highest CAGR over the forecast period.
Online Household Furniture Market growth is expected to accelerate as wood is one of the raw materials naturally available in abundance and can be used in production of almost all types of furniture products. Wooden furniture is primarily produced by processing raw timber. The three main categories of wooden panels are plywood, fiberboard, and particleboard.
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The competitive rivalry in market is high owing to the presence of major global players such as HNI Corporation; Kimball International, Inc.; Herman Miller, Inc.; and KOKUYO. Introduction of products with additional features suitable for exercise and sports is gaining consumer attention.
For instance, Governments in Middle East, especially Saudi Arabia’s government focus on development of real estate through various residential and commercial projects that will ultimately help to foster their economy. Furthermore, high investment in tourism, healthcare, and education sectors has spurred proliferation of the construction industry in Saudi Arabia, which is subsequently expected to drive product demand from the country.
Online Household Furniture Market has become easier due to the availability of online platforms. Rising number of nuclear families is increasing resulting in demand for portable and space saving products. This factor is anticipated to drive the demand the market growth in the forthcoming years.
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Online Household Furniture Market has become easier due to the availability of online platforms. Rising number of nuclear families is increasing resulting in demand for portable and space saving products. This factor is anticipated to drive the demand the market growth in the forthcoming years.
A key factor are driving the market growth is the raise in online household furniture spending and smartphone penetration. The increase in internet penetration has been a major driver for the growth of the online household furniture market.
Segmentation:
Material Outlook (Revenue, USD Billion, 2014 - 2025)
• Metal
• Wood
• Plastic
• Glass
• Others
End-Use Outlook (Revenue, USD Billion, 2014 - 2025)
• Residential
• Kitchen & Dining
• Living Room
• Bedroom
• Outdoor
• Others
• Commercial
• Office
• Hotels
• Others
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