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Furniture Market | Industry Analysis, Growth rate, and Future Forecast 2019-2026

10-20-2021 11:24 AM CET | Industry, Real Estate & Construction

Press release from: StraitsResearch

Furniture Market

Furniture Market

Furniture Market Snapshot:

The furniture market is anticipated to grow at a CAGR of around 5.3% and reach USD 571.69 billion in terms of value by the year 2026. The availability of designer furniture and growing preference towards outdoor seating drive the demand for furniture, alongside mainstream factors such as the growing construction sector. Do-It-Yourself furniture models are also gaining popularity, as they offer a unique experience and customization as per consumer demand.

Governments have increased investments and expenditure in healthcare to ensure better access for their populace. The World Bank estimated the global expenditure on healthcare as a percentage of GDP at 10.02% for 2016 – a significant rise over 9.89% in 2015. The rising expenditure on healthcare is indicative of the increasing number of hospitals and dispensaries, which have been leading to an upsurge in demand for furniture such as hospital beds and chairs. Manufacturers are providing customizations and design variations to cater to niche clients in a bid to capture the market, and construction companies are coming up with affordable housing schemes with the aid of governments to provide housing for low-income groups. In light of these factors, the residential segment is expected to perform relatively better among the two segments during the forecast period.

The U.S. and Canada remain attractive destinations for education and work. Higher income, better public facilities, and high regard for public welfare have seen an increasing number of people migrating to these countries for education and work. This population has been surging the demand for rental accommodations and driving the expansion of educational institutions to accommodate better learning facilities for domestic and international students, both of which require furniture. In 2017, the U.S. was host to around 1.1 million students, out of the 4.6 million students enrolled worldwide, as per the Migration Policy Institute. Most of the students here prefer settling down in the same country, which has led to a significant increase in the younger population. Furthermore, schools and colleges seek ergonomically suitable furniture to cater to this generation’s offspring.

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The Major Prominent Players Covered in this Report:
Steelcase Inc., Ashley Home Stores, Ltd, Inter IKEA Systems B.V., Okamura Corporation, Kohler Co., Herman Miller, Inc., Humanscale, La-Z-Boy Incorporated, and McCarthy Group Ltd. are some of the key players engaged in the global furniture market. & More.

By Material, Wood, Plastic, Metal
By End-User, Residential, Kitchen, Dining, Shades & Blinds, Bedroom, Others, Commercial, Educational, Business, Hospitality, Healthcare

Growing Domestic Demand and Expanding Pharmaceutical Sector to Drive the Demand for Furniture in the APAC Region
Asia-Pacific region is anticipated to hold the largest market share in the global Furniture market during the forecast period 2019-2026. The growth in this region can be attributed to the presence of emerging economies like India, China, Japan, Vietnam, and Indonesia, which account for the largest share in this region. India is one of the largest producers of Furniture and a major exporter of the product to various countries across the globe. India accounts for around 80% of the world’s exports of Furniture. The favorable climatic conditions and growth of agricultural inputs and allied services like cold storage and warehousing in India are prompting higher production.

View this report with a detailed description and TOC @ https://straitsresearch.com/report/furniture-market/toc

Key Questions Answered in The Report:
What will the Furniture market growth rate?
What are the key factors driving the global Furniture market?
Who are the key manufacturers in the Furniture market space?
What are the market opportunities, market risk, and market overview of the Furniture market?
What are sales, revenue, and price analysis of top manufacturers of the Furniture market?
Who are the distributors, traders, and dealers of the Furniture market?
What are the market opportunities and threats faced by the vendors in the global Steerable Medical Devices Industry?
What are sales, revenue, and price analysis by types and applications of the Furniture Industry?
What are sales, revenue, and price analysis by regions of Furniture industry?
What are the driving factors contributing to market growth during the short, medium, and long term?

Key Furniture Market Trends:
- The report identifies, determines, and forecasts the Global Furniture Market segments based on their type, sub-type, technology used, applications, end-users, and regions.
- Industry to Industry Holds Largest Share in the Furniture Market
- It examines the micro-markets based on their growth trends, development patterns, future prospects, and contribution to the overall market.
- Demand from Regional / geographical is Expected to Drive the Growth
- Rising Adoption of Market Segments in this Growth
- North American, Europe is Expected to Witness Higher Growth Rate over the Forecast Period
- It studies the competitive developments such as partnerships and collaborations, mergers and acquisitions (M&A), research and development (R&D) activities, product developments, and expansions in the Global Furniture Market.

Browse Full Report @ 
https://straitsresearch.com/report/furniture-market/

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Website: https://straitsresearch.com/

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