Global Home Furniture Market will Touch a Value of Nearly US$ 170,000 Mn in the year 2022

ROCKVILLE, US, 2018-May-24 — /EPR Network/ —   Recently, a novel report developed using proven research methodologies at the headquarters of Fact. MR has identified various prominent factors and trends prompting market growth of Home Furniture Market. The study is titled as “Home Furniture Market Forecast, Trend Analysis & Competition Tracking: Global Review 2017 to 2022”, which deeply analyses the global market trends, with historical data from 2016 and 2017, and projections of compound annual growth rates (CAGRs) during the mentioned forecast of (). For the benefit of the readers, the report concludes with a special focus on the detailed profiles of the major vendors in the global home furniture market.

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Growing in to shift from one place to another has led to an increase in demand for home furniture in the residential industry. Surge in demand for smart furniture is further expected to impact growth of the global home furniture market positively. Sales of home furniture is expected to remain high through retail outlets. This report, compiled by Fact.MR, provides in-depth analysis of the global home furniture market for the forecast period 2017-2022, and offers key insights about future market direction. The scope of Fact.MR’s report is to analyze the global home furniture market for the forecast period 2017-2022 and provide readers an unbiased and accurate analysis. Home furniture manufacturers, stakeholders, and suppliers in the global consumer goods sector can benefit from the analysis offered in this report. This report offers a comprehensive analysis, which can be of interest to leading trade magazines and journals pertaining to home furniture.

Considerable Demand for Smart Technology

Integrated with enhanced technology, the home furniture including beds, chairs and couches. Integration of enhanced technology in the home furniture has enabled customers to use furniture through the remote controls. Hydraulic beds, beds with storage, sofa cum beds, and recliners are smart furniture purchased by the customers to name a few. Moreover, manufacturers are redefining comfort through integration of sleeping technology in mattresses.

Significant Demand in the Hospitality Industry

Manufacturers are increasingly using raw materials that have comparatively longer durability. Attributed to features such as chemical resistance and longer durability, furniture coated with engineered wood is expected to witness significant demand in the residential and hospitality industry. Engineered wood is expected to protect the home furniture from physical, chemical and mechanical damages.

Beside residential industry, consumption of home furniture witnesses considerable demand in the hospitality industry as well. Equipped with rust free aluminium and plastic materials, the smart home furniture is expected to witness significant demand in the hospitality industry. Attributed to the rust-free features, several hotels and restaurants use these smart furniture in their gardens, terraces, and balcony as they are weather-resistant. On the other hand, high cost of multi-purpose furniture, and smart furniture is expected to hinder demand for home furniture during the predicted period.

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Retail Outlets to Represent a Leading Segment

Bed and mattress is expected to witness the highest revenue growth in the global market. This segment is expected to represent a value of over US$ 20,000 Mn by the end of 2022. Table and desks is expected to represent the second highest revenue growth in the global home furniture market during the predicted period. Upholstery is expected to register the highest CAGR growth in the global market, followed by storage units through 2022. Europe is expected to represent the largest market for home furniture globally.

Competition Tracking

Leading market players operating in the global home furniture market include Ashley Furniture Industries, La-Z-Boy Incorporated, Flexsteel Industries, Inc., Inter Ikea Systems B.V., Nitori Co Ltd, Suofeiya Home Collection Co Ltd, Basset Furniture Industries Inc, Steinhoff International Holding N.V., Herman Miller Inc, Kimball International, Inc, Williams-Sonoma, Inc, Berkshire Hathaway, and Steelcase.

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