Furniture Industry Poised for High Growth with Changing Consumer Needs

Changing consumer preferences are providing a new definition to the Indian furniture industry, says RNCOS.


Noida, UP -- (SBWIRE) -- 11/10/2014 -- The Indian furniture industry is exhibiting a strong and powerful reputation worldwide with its customary features of art and design, and ethnically rich handicrafts. Moreover, exceptional designs and use of durable and quality wood are providing grace and sophistication to the furniture segment in India.

The demand for furniture are primarily driven by factors like expansion of housing in both the major and smaller cities in India, and increasing spending capacity of the people. In the recent years, India is witnessing rapid launches of both housing and commercial projects, which further brings a positive effect on furniture demand. Moreover, with improving economy and increase in household income, the demand for furniture is expected to increase further. Besides, increasing young population providing a new definition to the traditional furniture from a necessity to a style statement is also expected to raise the market in the coming years.

The report, “Indian Housing Sector Outlook 2018”, by RNCOS which is spread over 120 pages provides an in-depth research and rational analysis of the Indian Housing industry with forecasts till 2018. The report is segmented into two parts: Affordable and Luxury housing. The report provides forecast of housing market potential in each section, along with housing demand potential till 2018. The report further provides list of major players and share of organized/unorganized sector for these industries. Additionally, regional analysis of the tile, electrical switch, cement, flooring and modular kitchen market, with a focus on consumer preference is also covered.

Besides, the report also includes city-level analysis (Mumbai, National Capital Region, Chennai, Hyderabad, Pune and Bengaluru). The report also contains a section on the trends prevailing in the industry along with major challenges. Additionally, the report identifies and rates various factors influencing the customers in selecting a housing project. Furthermore, the report provides profiling of the major players covering the business description, recent activities and their strengths and weaknesses.

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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.