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Wooden Furniture Market Analysis, Trends, Growth, Research And Forecast 2033
Wooden Furniture Market
The Business Research Company presents an extensive market research report on the Wooden Furniture Global Market Report 2024, furnishing businesses with a competitive edge through a detailed examination of the market structure, encompassing estimates for various segments and sub-segments.
Furthermore, the report highlights on emerging trends, significant drivers, challenges, and opportunities, providing all necessary data for thriving in the industry. This report market research offers a comprehensive perspective, including an in-depth analysis of the present and future scenarios within the industry.
Market Sizing:
The wooden furniture market size has grown strongly in recent years. It will grow from $106.17 billion in 2023 to $113.13 billion in 2024 at a compound annual growth rate (CAGR) of 6.6%. The growth in the historic period can be attributed to housing market trends, consumer preferences for natural materials, economic conditions, craftsmanship and design trends, urbanization and population growth.
The wooden furniture market size is expected to see strong growth in the next few years. It will grow to $144.39 billion in 2028 at a compound annual growth rate (CAGR) of 6.3%. The growth in the forecast period can be attributed to sustainable and eco-friendly practices, customization trends, smart furniture integration, health and wellness considerations, collaborations and partnerships. Major trends in the forecast period include digital transformation in retail, customization and personalization, influence of Scandinavian and minimalist designs, emphasis on handcrafted and artisanal piece, innovation in wood finishes and textures.
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Key Market Players:
Major companies operating in the wooden furniture market report are AVY Interior Pvt Ltd., Kingfisher plc, Masco Corporation, NITORI Co Ltd., Kohler Co, Ashley Home Stores Ltd., Steelcase Inc., Herman Miller Inc., Haworth Inc., HNI Corporation, Okamura Corporation, Heritage Home Group LLC, Dorel Industries Inc., Knoll Inc., Ethan Allen Global Inc., Kimball International Inc., Bassett Furniture Industries, Inter IKEA Systems B.V., Bush Furniture, Bernhardt Furniture Company, Durham Furniture Inc., An Cuong Wood Working Materials, King Hickory Furniture Company, Good's Home Furnishings., Doimo Salotti, FAVOURITE DESIGN SDN. BHD., Stickley Furniture Inc., Great Veca Vn Co LTD., King Jade Industrial Co Ltd., San Lim Furniture Co Ltd.
Market Drivers:
The growing construction sector is expected to boost the growth of the wooden furniture market going forward. The construction sector refers to the commercial area of industry and trade concerned with constructing, maintaining, and repairing infrastructures. Due to its natural cellular structure, wood is a better insulator than steel and plastic which keeps heating and cooling in homes and workplaces and consumes less energy. Wood furniture also helps to control humidity levels. Hence, the growing construction sector is expected to boost the wooden furniture market. For instance, according to the U.S. Census Bureau report on monthly construction spending in 2022, the construction spending is expected to be $1,744.8 billion in April 2022, a 0.8% rise from the revised March estimate of $1,740.6 billion. Moreover, in March 2022, according to the Indian Brand Equity Foundation (IBEF) report, the India-based promotion organization for the sale and distribution of Indian goods, India allocated $ 130.57 billion to enhance the country's infrastructure. Therefore, the growing construction sector is driving the growth of the wooden furniture market.
Learn More About The Market Report -
https://www.thebusinessresearchcompany.com/report/wooden-furniture-global-market-report
The wooden furniture market covered in this report is segmented -
1) By Product: Chairs, Tables, Cabinets, Other Products
2) By Wood Type: Mango Wood, Sheesham Wood, Rubber Wood, Other Wood Types
3) By Material: Lamination, Plywood, Medium Density Fiberboard (MDF), Other Materials
4) By Distribution Channel: Hypermarkets, Specialty Stores, Online Retail, Other Distribution Channels
5) By Application: Residential, Commercial
The report answers the following questions:
What are the primary factors propelling the market during the projected period?
In which region is the most substantial growth expected?
Which trend will take center stage in the upcoming period?
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