Press release
Home Office Furniture Market to Receive Overwhelming Hike In Revenue That Will Boost Overall Industry Growth by 2030
Surge in entrepreneurship and work from home, growth in urbanization, and rise in inclination of customers toward multi-function furniture drive the growth of the global home office furniture market. However, increase in the cost of raw material and environmental restriction related to deforestation hinder the market growth. On the other hand, development of eco-friendly raw material and surge in e-commerce sales present new opportunities in the coming years.
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Based on product type, the table segment contributed to the highest share in 2020, accounting for more than two-fifths of the total share, and is estimated to continue its leadership status during the forecast period. However, the seating segment is expected to portray the highest CAGR of 9.8% from 2021 to 2030.
Based on material type, the wood segment accounted for the highest share in 2020, holding nearly half of the global home office furniture market, and is estimated to continue its dominance during the forecast period. However, the plastic segment is projected to manifest the largest CAGR of 10.1% from 2021 to 2030.
Key Benefits For Stakeholders
The report provides an extensive analysis of the current and emerging market trends and opportunities in the market.
The report provides detailed qualitative and quantitative analysis of current trends and future estimations that help evaluate prevailing market opportunities.
A comprehensive analysis of the factors that drive and restrict the growth of the market is provided.
An extensive analysis of the market is conducted by following key product positioning and monitoring the top competitors within the market framework.
The report provides extensive qualitative insights on the potential segments or regions exhibiting favorable growth.
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Key findings of the study
The home office furniture market size was valued at $3,032.6 million in 2020, and is estimated to reach $7,615.2 million by 2030, growing at a CAGR of 8.8% during the forecast period.
By product type, the plastic segment is estimated to witness the fastest growth, registering a CAGR of 10.1% during the forecast period.
In 2020, depending on material type, the wood segment was valued at $1,469.3 million, accounting for 48.4% of the home office furniture market share.
In 2020, the U.S. was the most prominent market in North America, and is projected to reach $691.2 million by 2030, growing at a CAGR of 8.3% during the forecast period.
Based on region, Europe held the highest share in terms of revenue in 2020, accounting for nearly two-fifths of the total share, and is expected to continue its lead position by 2030. However, the region across Asia-Pacific is projected to witness the fastest CAGR of 10.7% during the forecast period. The research also analyzes regions including North America and LAMEA.
Leading players of the global home office furniture market analyzed in the research include Steelcase, Inc.
Masco Corporation
HNI Corporation
Haworth, Inc.
Inter IKEA Systems BV
L & J.G. Stickley, Inc.
Kimball International, Inc.
Okamura Corporation
Basset Furniture Industries
Durham Furniture, Inc.
Know More- https://www.einpresswire.com/article/771551753/home-office-furniture-market-cagr-to-be-at-8-8-from-2021-to-2030-usd-7-61-billion-industry-revenue-by-2030
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