Felton, California, 2018-Feb-14 — /EPR Network/ — The global luxury furniture market is anticipated to reach $27.92 billion by 2022 at a CAGR of 4.0% in the forecast period. The key factors affecting the growth of this sector is disposable income. The growth of the luxury furniture sector is directly proportional to the adoption of e-retailing methods to reduce the operating expenses in sales & distribution and growth of real estate industry.
The real estate sector has shown a significant slowdown in the 1st half of 2017. However, the market is expected to grow with the moderate speed. Development of the real estate industry for commercial as well as the residential place would push the luxury furniture market forward. Also, the development is coupled with the change in lifestyle of the consumers, especially in urban areas due to increase in disposable income. However, the growth can be hampered by the increasing expenses for a raw material required, the design of furniture and the lack of skilled workforce.
Raw Material Insights
By raw material, the luxury furniture market is categorized into plastic, metal, wood, glass, leather, and others. Mahogany, Teak, Jackfruit, Cedar and Redwood trees are the primary sources of raw material. The increase in the cost of materials, such as wood, leather, and stones, may restrain the market growth.
Consumers are inclined toward eco-friendly furniture due to the increased environmental awareness. Also, the companies are concerned about their carbon footprints and now started to offer eco-friendly alternatives which are possible due to technology and innovative ideas of designers such as marble, stone, plastic, and metal. Moreover, these materials have high durability and low maintenance cost.
Full Research Report On Global Analysis available at: https://www.millioninsights.com/industry-reports/luxury-furniture-market
Luxury furniture is used for commercial as well as domestic purpose. The domestic sector contributes nearly two-third of the global luxury market revenue. In the domestic sector, living and bedroom dominated the rest of the segments by the returns in 2014 due to the consumers that are specific in the purchase of exact and precise kind of furniture to give an attractive and aesthetic look to their bedroom and living room.
Lighting products add to the mood and ambiance in the living & bedrooms, kitchen, bathrooms and outdoors. This has shaped an optimistic situation for lighting furniture, as an outcome, it is gaining admiration among consumers and is estimated to witness substantial growth.
Service segment contributes the largest share of the revenue in the commercial sector. Consumption of luxury furniture in the service sector is expected to grow at a higher pace to provide a better service experience to the customers. Gyms, hotels, restaurants install luxury furniture following the rise in market demand significantly. Modern, as well as Traditional designs, are receiving admiration thus driving towards the growth in this segment.
Europe dominates the global furniture market, followed by North America. Asia Pacific is expected to witness the fastest growth with a lucrative CAGR of 5.5% due to a rapid increase in per capita income and rapid growths in the real-estate industry in Asia Pacific countries such as China and India, which in turn opens up prominent opportunities for the sector during 2014-2022. Companies of manufacturing semi-finished wood furniture in Europe represents mainly the upstream group of the value chain. Revenue generated by Europe is estimated at $7329. 8 million in 2014.
China has emerged as the largest and fastest emerging furniture market in Asia Pacific, vastly driven by the increase in the living standards and disposable income.
The luxury furniture companies, mainly compete on the aspect of aesthetic values. New products and innovative design/material are the key strategy adopted by the companies. Major companies are using an e-commerce platform to reach the customers more effectively and efficiently and also increase their customer base. Besides this, many luxury furniture companies are associating up with designers to develop and launch a luxury range.
Key players: Valderamobili s.r.l, Laura Ashley Holding Plc, Giovanni Visentin s.r.l., Duresta Upholstery Ltd, Nella Vetrina, Turri S.r.l. Muebles Pico, Scavolini S.p.a., Henredon Furniture Industries Inc., Turri S.r.l.
Request for Free Sample Copy at: https://www.millioninsights.com/industry-reports/luxury-furniture-market/request-sample
Global Luxury Furniture Outlook, By Material (Market Revenue in USD Million, 2012 – 2022 )
Global Luxury Furniture Outlook, by End-use (Market Revenue in USD Million, 2012 – 2022 )
• Domestic use
• Living & Bedroom
• Commercial use
Global Luxury Furniture Regional Outlook (Revenue, USD Million, 2012 – 2022)
• North America
• Asia Pacific
Related Reports of this Category available at Million Insights:
About Million Insights
Million Insights, is a distributor of market research reports, published by premium publishers only. We have a comprehensive market place that will enable you to compare data points, before you make a purchase. Enabling informed buying is our motto and we strive hard to ensure that our clients get to browse through multiple samples, prior to an investment. Service flexibility & the fastest response time are two pillars, on which our business model is founded. Our market research report store, includes in-depth reports, from across various industry verticals, such as healthcare, technology, chemicals, food & beverages, consumer goods, material science & automotive.
For More Information: www.millioninsights.com
Felton Office Plaza 6265 Highway 9
Felton, California 95018, United States
- Whirlpools World Spain eröffnet in Teulada größten Whirlpool-Showroom in ganz Spanien
- Whirlpools World Spain opens biggest whirlpool bath showroom in the whole country
- RCH Group to Showcase Innovative Selling Solutions at EuroCIS
- MeetingPackage.com Präsentiert einzigartiges Reservierungsportal für Meetings & Events
- MeetingPackage.com Lance son Moteur de Réservation Exclusif pour Réunions & Événements
- MeetingPackage.com Introduces Unique Booking Engine for Meetings & Events
- ANECON becomes Nagarro
- UK Education Consultancy Services Ltd announced that the premiere issue of Scientific European® (a popular science magazine) is released on 19 January 2018
- RCH Europe to Present Smart Solutions for POS at INTERGASTRA 2018
- ADVENTURE KINGS SOLAR PANEL RANGE – HOW MUCH POWER DO I NEED?
- Raport: Jak zaoszczędzić na hiszpańskich wakacjach nad morzem
- Onthuld: zo vind je de beste deals voor je zomervakantie naar Spanje
- Finden Sie diesen Sommer die besten Spanien Angebote in der Zwischensaison
- Revealed: How to get the best value savings on your Spanish summer holiday
- Point of Sale Systems: RCH Group Expands European Operations
- Racing Towards Retailization: WishKnish and InstantAccess.io Bring Down Usability Barriers to True Blockchain Adoption
- Airport Parking Helper Website Expands To Serve 130 Airports
- Adomik a obtenu la 14e place au classement 2017 TECHNOLOGY FAST 500 pour la zone EMEA et la 3e place au classement Deloitte 2017 TECHNOLOGY FAST 50 pour la France
- Adomik auf Rang 14 der 2017 TECHNOLOGY FAST 500 EMEA und auf Platz 3 der Deloitte 2017 TECHNOLOGY FAST 50 für Frankreich
- Adomik Awarded #14 Ranking in 2017 TECHNOLOGY FAST 500, EMEA; #3 ranking in Deloitte 2017 TECHNOLOGY FAST 50 for France
- MeetingPackage.com Launches its Exclusive Affiliate Partner Program
- P2P Investment Loan Platform Enters Blockchain Sector with ICO Launch
- International Symposium on the Accessibility to High-Value Medicine, December 5-6, 2017, London
- Axiomatics Releases New Version of SmartGuard™ for Big Data
- No Time To Waste! Conference Takes a Practical Approach to Tackling Waste Crime
- HET DIGITALE EINDEJAARSVUURWERK VAN ONELIFE!
- LE FEU D’ARTIFICE DIGITAL DE FIN D’ANNEE DE ONELIFE !
- ONELIFE’S YEAR-END DIGITAL FIREWORKS!
- Alliance News riceve un investimento strategico da parte di PA Group e dpa per sostenere l’espansione nell’area EMEA
- #SUCCESVOL #VERHUIZEN: VERHUIZEN NAAR HET BUITENLAND
- #REUSSIR SON #EXPATRIATION: LE PARCOURS DE L’EXPATRIATION
- #SUCCESS IN #RELOCATION: THE RELOCATION JOURNEY
- 99X Technology hosts its first international breakfast seminar on digitalization in Oslo
- Ms. America 2017 Oksana Vovk is a special guest at the Newport Beach Sculpture Exhibition, Phase III
- Spain-Holiday.com City Break Cost Index Autumn Winter 2017
- Simply Innovative Products, Inc. Receives First Samples off Production Mold
- M. Davis & Sons Acquires Val-Tech Inc.
- TechTrans Announces Partnership with Tidel
- Continuing Growth Triggers Expansion and New Office in Spain for MeetingPackage.com
- Top Performing Investment Manager, Chetan Kapur of ThinkStrategy Capital, Went Way Above and Beyond for Investors which Enjoyed Leading Returns for a Decade
- 99X Technology drives digital disruption at Webdagene 2017 Oslo
- The Certified Angus Beef® brand honors retail, distributor stars
- FOURTEEN ADDITIONAL COMPANIES ENTER INTO PATENT LICENSE AGREEMENTS WITH CHRIMAR
- В Киеве состоится SphereCon 2017 – конференция, объединяющая Ruby on Rails, Go, разработчиков программного обеспечения и дизайнеров
- TechTrans Announces Partnership with Tidel
- Axiomatics Data-Centric Dynamic Authorization Product Suite Recommended in New KuppingerCole Analyst Report
- Throne of Lies, the highly anticipated online game of Deceit, launches on Steam
- SecBI and Innovery Announce Partnership to Promote SecBI’s “Autonomous Investigation” Cybersecurity Solution to the Italian and Spanish Markets
- "Heillandi Peking" Ljósmyndasýning um ferðalög haldin í Reykjavík
- Grammy Winner Coolio & Wrestling Legend Virgil on an Adult Star’s Presidential Ticket – Press Conference
- Promwad partners with Asian chip vendors to offer cost-effective electronic designs in Europe
- Invacare introduce their first touch screen remote
- Invacare International take powerchairs to a new level
- Industrial Laser Peening Research at ZAL Techcenter
- Blind Children Find New Hope Through Music in Wuhan, China
- Sogu has launched its first KickStarter Campaign
- NFINOX Forex and CFD Broker Increases Additional Client Money Insurance to £1,000,000
- Police Body Cameras by X-Surveillance
- Forms-2-Go – Complete Set of Business Forms for Smartphones, Tablets and PCs
- BookingPal annonce un nouveau partenariat avec Arkiane
- Laser Peening Metal Enhancement System Sold to ZAL Center of Applied Aeronautical Research in Hamburg
- TS EMEA to Exhibit at AEGPL 2017 with NextGen Mobility Solutions On Hand
- Consumers Demand Benevolent Capitalism
- New Apps to Download Facebook posts and Twitter tweets
- Comment trouver un bon professeur sur le Web?
- MEDLAB Series expands its presence into Europe
- Jeff Martin Produces Exquisite Debut EP for New Australian Indie Duo, Secret Solis
- Radius Travel anuncia su asociación con mTrip en soluciones móviles para empresas
- Taste of Adventure Wins 2017 FoodTrekking Award for Best Food Travel Blog
- Radius Travel anuncia su asociación con mTrip en soluciones móviles para empresas
- Milestone for the diagnosis of inflammatory bowel disease
- BLINGBY ANNOUNCES PARTNERSHIP WITH BRITISH POP DUO OMYO
- KIWITECH ANNOUNCES STRATEGIC PARTNERSHIP WITH BLINGBY
- Oregon Grow Cabinets Launches Today - Home Growing, Refined
- BroadSource Launches EMU SaaS in Europe
- B&B Hotels selects Vertical Booking CRS for enterprise hotel distribution across their 400 hotels
- Soracom launched secure and scalable IoT platform in Europe
- Nor-Tech Offers European Organizations Free Simulation Tests on a High Performance Computer Cluster for CAE, CFD, FEA Software
- ExpressVPN svela il sito multilingue
- ExpressVPN présente son site décliné en plusieurs langues
- Alliance News lancia il primo servizio di news finanziarie in lingua italiana attivo 24 ore
- Der ehemalige Banker Mike Baur verrät sein Erfolgsrezept für die Schweizer Wirtschaft
- LINKS Foundation
- Preply, plateforme d’amélioration continue pour le tutorat et les études en ligne, arrive en France
- PARENTS WHO WANT TO STYLE THEIR CHILDREN IN THE LATEST STREET STYLE AND FASHION TRENDS CAN NOW DO SO THANKS TO MINI TREND
- MDM GROUP AG pulls up plans to go public
- Large Japanese property corporation entered the Australian & NZ serviced Apartments/accommodation Industry
- iSaveWeb Lite – Make Copies of Your Favorite Websites
- UnlimitedHand Haptic Game Controller: finalist of Wearable Technologies Innovation World Cup, joins Arduino AtHeart and Amazon LaunchPad to reach hackers worldwide
- “Smart” concept for cover planting wins Farming by Satellite Prize
- L’équipe française remporte le prix paneuropéen Farming by Satellite
- CityJet Cabin Crew Recruitment Day in Brussels, Belgium
- SENA LANCE UNE APPLICATION POUR SMARTPHONE INNOVANTE POUR CONNECTER LES MOTARDS DU MONDE ENTIER
- SENA FÜHRT WEGWEISENDE SMARTPHONE-APP FÜR DIE VERBINDUNG VON FAHRERN WELTWEIT EIN
- SENA LAUNCHES GROUNDBREAKING SMARTPHONE APP TO CONNECT RIDERS WORLDWIDE
- Cabin Crew Recruitment Days taking place in Brussels, Belgium
- Gudny Aspaas Returns with a New Album
- Unique patent-pending “Body Camera” as a PTT Microphone: X-Surveillance DS300
- New York’s Health Agency (NYSDOH) Cited in Iraq War’s Blowback
- Model at the age of 90 – Genia Galberstadt
- Vivier Chief Executive, Luigi Wewege Announces New Book: The Digital Banking Revolution
- NET-DYN Awarded Top Rated Status on Major E-commerce Platform Amazon
- Startup Founders: Are You Ready To Accelerate Your Business?
- ABBYY Launches an Open API for Its Trademark Lingvo Dictionaries
- Soldi troppo in nero: una compagnia Europea paga a gli guerriglieri
- Leading International Entrepreneur moves into Royal Circles
- DAN GRACE JOINS SKILLSTORM AS EVP, OPERATIONAL SERVICES
- The Rose receives 2016 Jack Kemp Excellence in Affordable and Workforce Housing Award from the Urban Land Institute
- L’argent trop «noir»: Une société européenne paye aux rebelles
- TS EMEA Takes "A Bridge to the Future" at the 29th World LPG Forum
- Startup mentored by Promwad created one of the best IoT products in Europe
- Baton Rouge Based Roof Crafters Launches New CRM Software For Clients
- Real Estate Lead Partner Moves Headquarters To Nashville TN
- Introducing Torque Control Cordless Angle Wrenches from Express Assembly Products
- WorldSIM is now the most connected mobile network in the world
- SIXTEEN NEW COMPANIES ENTER INTO PATENT LICENSE AGREEMENTS WITH CHRIMAR
- Bang-Bang in Watchland
- GenQual and R-Pharm collaborate to deliver predictive diagnostics for novel anti-IL-6 antibody for autoimmune diseases
- Discount Airport Parking Website Announces Expansion Plans
- TRAINERS EDGE VETERANS CHARITY FAMILY DAY AND FITNESS EVENT
- Casino-X Enters the New Year With Brand New Look
- WorldSIM launches a new international SIM card that ends roaming charges for travellers worldwide
- A Window into the Philippines: Permanent New York City Window Display at the Philippine Center Showcases the Beautiful Country
- Automaten Herz launches new gaming info-portal for German online audience
- New technology solves digital overload for family memories
- The Metropolitan Council approves a $2M grant to fund a landmark, transit-oriented development in the heart of St. Louis Park, Minnesota