Home Furniture Market to Reflect Impressive Growth Rate During 2022

Posted on 2021-06-01 by Future Market Insights, Inc in Retail // 0 Comments

The continued evolution of the global home furniture market is underpinned by the rising demand for stylish, comfortable, and multi-purpose furnishings in the residential and hospitability sectors all over the globe. The rising number of urban homes looking for comfortable and technology-enhanced furniture is a notable trend aiding in the rapid expansion of the home furniture market. The growing number of people migrating and relocating from one city to another in developing countries is bolstering the demand for new home furniture.

Moreover, the burgeoning demand for smart and innovatively-designed furnishings that make best use of residential spaces is catalyzing the growth of home furniture market. The home furniture market will witness rapid strides from the adoption of more durable raw materials and weather-proof coatings, especially for commercial spaces. However, the low affordability of multi-purpose home furniture, in part due to price-sensitive consumers in emerging economies, is crippling the potential of the home furniture market.

Underpinned by above trends and more in the offing, the global home furniture market is projected to rise at robust CAGR during 2017–2022 and reach a worth US$170,000 Mn by the end of this period.

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The following insights and evaluations are worth knowing for any market participant, helping them in ascertaining the prevailing dynamics and the future trajectories of the Home Furniture Market. They are a part of the estimations of the opportunities in various segments. The additional new opportunities have turned the Home Furniture Market into a fragmented landscape with more entry-level players entering the market, thanks to low barriers for investments.

Growing Trend of Smart Furnishing catalyzing Home Furniture Market

Integrating home furniture with technology can be a potentially compelling proposition for manufacturers to meet the demand for smart furniture among residential as well as hospitability buyers. The advent of remote-controlled home furniture is a case in point. There is a growing demand for home furniture integrated with user-friendly electronic technologies that enhance the level of comfort for end users.

Apart from this, there is a profuse demand for multi-purpose home furniture, especially among residential buyers. Pieces of multi-purpose furniture such as sofa cum beds, hydraulic beds, foldable tables, and bed with storage are gaining massive popularity among home buyers who want to make optimal use of living spaces. This is a crucial trend among urban buyers, which is expected to fuel the expansion of the home expansion market.

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Regional analysis includes

North America (U.S., Canada)
Latin America (Brazil, Mexico, Argentina, Chile, Peru, Rest of LATAM)
EU – (Germany, France, Italy, Spain), UK, BENELUX (Belgium, Netherlands, Luxemburg), NORDIC (Norway, Denmark, Iceland, Sweden), Eastern Europe (Poland, Ukraine, Czech Rep. etc.), Rest of Europe
CIS & Russia
Japan
Asia Pacific Excluding Japan (Greater China, India, S. Korea, ASEAN Countries, Rest of APEJ)
Middle East and Africa (GCC Countries, Turkey, Iran, Israel, South Africa , Rest of MEA)

The Report Covers Exhaustive Analysis On:

Market Segments
Market Dynamics
Market Size & Demand
Current Trends/Issues/Challenges
Competition & Companies involved
Technology
Value Chain

The global Home Furniture Market report offers detailed assessments and quantitative evaluations that shed light on numerous key aspects that have shaped its evolution over the historical period. In coming years, some of the key aspects that will shape the growth prospects during the forecast period are objectively covered in the study.

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Some important questions that the Home Furniture Market report tries to answer exhaustively are:

Key strategic moves by various players in the Home Furniture Market in recent years with respect to product launches, deals and tie-ups, and mergers and acquisitions, and divestment of shares
Which strategies will enable top players in the Home Furniture Market to expand their geographic footprints
Which new business models are expected to change the course of growth of key regional markets in near future
Which technologies will witness most attractive research investments and what will be the key sources of funding for startups and new entrants
Which products segments have in recent years have seen new, lucrative application areas

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