Furniture industry is booming in Saudi Arabia due to increasing housing projects in pipeline, says RNCOS.
Noida, UP -- (SBWIRE) -- 10/23/2014 -- The Saudi Arabia furniture industry has become one of the most vibrant and fastest growing industries in the Middle-East region. The growth of the furniture industry has been supported by the growing number of real estate developers and increasing demand for residential property. According to a new report by RNCOS, “Saudi Arabia Housing Sector Outlook to 2017”, the growing demand for housing due to a increasing young population-base, more government funding, and a booming economy will provide new heights to residential furniture industry in the region.
According to our report, it is anticipated that residential furniture will continue to dominate the market in future due to the increasing number of housing projects in the pipeline and rising purchasing power of people. Further, the growing demand from housing and commercial offices will boost up the furniture market in the country. Quality, which used to be a challenge for local manufacturers, has now become an area of special focus and rapidly emerging concepts of lavish lifestyle, interior designing, and improved sense of architecture are providing a new growth platform for the industry. This conventional and modern aspect is expected to drive furniture market in the country. Various other factors which are boosting the housing demand in the region include the increasing GDP, rising per capita income and more regions getting urbanized, which all have a direct impact on the housing market, which in turn are contributing to the growth of furniture industry.
The report, “Saudi Arabia Housing Sector Outlook to 2017”, by RNCOS provides an in-depth research and rational analysis of the housing market in Saudi Arabia. It provides forecast of new housing units demand potential in the kingdom till 2017. Further, the report provides a detailed overview of the housing scenario and also presents insight on housing units in the kingdom on the basis of tenure, administrative area, construction material, and type. In addition, existing & future residential projects in Riyadh and Jeddah and industry trends & developments are also discussed in the report. Besides, we have also analyzed several industry verticals such as IDC and Fit-outs, furniture, cement and steel and provided forecast till 2017 on these verticals. Furthermore, the report provides profiling of the major players describing their business overview and recent developments, if any.
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RNCOS is a leading industry research and consultancy firm incorporated in 2002. As a pioneer in syndicate market research, our vision is to be a global leader in the industry research space by providing research reports and actionable insights to companies across a range of industries such as Healthcare, IT and Telecom and Retail etc. We offer comprehensive industry research studies, bespoke research and consultancy services to Fortune 1000, Trade associations, and Government agencies worldwide.