According to the research report, the global luxury furniture market is likely to be worth US$29,496.7 mn by the end of 2022. As of 2017, the market is estimated to seek an opportunity worth US$22,937.6 mn. During the forecast period of 2017 and 2022, the global luxury furniture market is poised to exhibit a CAGR of 5.2%.
Albany, NY -- (SBWIRE) -- 10/10/2017 -- A new report added to the repository of Market Research Reports Search Engine, "Luxury Furniture Market - Global Industry Analysis, Size, Share, Growth, Trends and Forecast 2017 - 2022" is a comprehensive repository of information, providing market share, size, and forecast.
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Luxury furniture market is likely to witness a steady growth in the coming years due to a higher consumer awareness. The market has been undergoing a major transformation as distribution channels are expanding. Improving visibility of luxury furniture brands in malls and through online mediums has also benefitted the global market. Furthermore, the improving disposable incomes and the increasing need to match up a higher standard of living have collectively spurred the demand for luxury furniture items in the global market. The research report states that the demand for luxury furniture is also slated to rise as the economies limp back to normalcy.
The rise of the real estate market is also projected to have a positive impact on the overall market. The demand for luxury furniture in the hospitality sector such as hotels and restaurants is projected to augment the market. Additionally, restoration and renovation of residential market is also going to win the vendors in the global market several new consumers.
Global Luxury Furniture Market: Scope of the Study
The research report on global luxury furniture market includes executive summary, which introduces the market, offers its taxonomy, and provides its definition. The report elucidates the various drivers, restraints, and trends that are likely to impact the trajectory of the overall market. It mentions the supply chain, cost structure, pricing analysis, and raw material sourcing strategy and analysis. These pointers help in understanding the very basis of the market and its overall foundation. The research report has been compiled using primary and secondary research methodologies, thereby giving the readers an accurate and an exact measurement of the growth. The publication provides an exhaustive list of tables and figures for quick and easy navigation of important elements of the research report.
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The research report also offers a critical evaluation of all the segments of the market. The divisional study of the global market helps in understanding each and every facet that is likely to impact various segments over the forecast period of 2017-2022. On the basis of material, the global market is segmented into glass, metal, plastic, leather, and wood. The research report provides revenue comparison of these segments, market share comparison, and year-on-year growth strategy. On the basis of distribution channel, the global market is fragmented into departmental stores, online sales, independent furniture retailers, and factory outlets. The end users studied in this study are commercial and domestic buyers. Such a detailed break-up allows the readers to examine the market in great depth and with utmost clarity.
Global Luxury Furniture Market: Geographical Segmentation
In terms of geography, the global luxury furniture market is segmented into Asia Pacific, Europe, North America, the Middle East and Africa, Japan, and Eastern and Western Europe. These regions are further broken down into countries to understanding national trends that are likely to impact the market. The research report assesses the factors that will support the regional growth as well as the ones that will restrain it.
The research report dedicates a chapter to discuss the competitive landscape of the global luxury furniture market. It profiles some of the leading players in the global market such as Nella Vetrina, Muebles Pico, Valderamobili, Scavolini, Laura Ashley Folding Plc, and Henredon Furniture Industries Inc. It assesses the research and development activities of the key players, their business and marketing strategies, and their financial outlooks. For a holistic understanding, the research report includes comments from the market leaders. The unbiased evaluation of the global luxury furniture market is aimed at allowing the readers to make well-informed business decisions in the coming years.
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