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Wooden Furniture Market 2024 - Regionally Driven Growth, Emerging Business Strategies, Anticipated Revenue, and 2033 Forecast
Wooden Furniture Market
The Business Research Company offers in-depth market insights through Wooden Furniture Global Market Report 2024, providing businesses with a competitive advantage by thoroughly analyzing the market structure, including estimates for numerous segments and sub-segments.
Market Size And Growth Forecast:
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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Market Segmentation:
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
Major Driver - Construction Sector Surge Propels Growth In The Wooden Furniture Market
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.
Competitive Landscape:
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.
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Top Trend - Revolutionizing Workspaces With Cutting-Edge Designs And Exceptional Craftsmanship
Major companies operating in the wooden furniture market are focusing on advanced solutions, such as cutting-edge designs of furniture, to meet evolving consumer demands. Cutting-edge designs of furniture refer to innovative and avant-garde styles that incorporate the latest trends and technologies in the field of furniture design. For instance, in July 2023, Knock on Wood, an India-based furniture design and state-of-the-art manufacturing company, launched an office furniture collection that transforms workplaces and redefines how individuals collaborate in modern office settings, showcasing outstanding craftsmanship and cutting-edge designs. This collection seamlessly blends functionality, practicality, style, and ergonomics to craft an inspiring workspace for modern professionals, featuring meticulously designed sleek desks, workstations, and meeting tables that enhance productivity and elevate the aesthetic appeal of any office setting.
The Table Of Content For The Market Report Include:
1. Executive Summary
2. Wooden Furniture Market Characteristics
3. Wooden Furniture Market Trends And Strategies
4. Wooden Furniture Market - Macro Economic Scenario
5. Wooden Furniture Market Size And Growth
…..
27. Wooden Furniture Market Competitor Landscape And Company Profiles
28. Key Mergers And Acquisitions
29. Future Outlook and Potential Analysis
30. Appendix
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About The Business Research Company
The Business Research Company (www.thebusinessresearchcompany.com) is a market intelligence firm that pioneers in company, market, and consumer research. Located globally, TBRC's consultants specialize in various industries including manufacturing, healthcare, financial services, chemicals, and technology. The firm has offices located in the UK, the US, and India, along with a network of proficient researchers in 28 countries.
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