Harrisburg, NC -- (SBWIRE) -- 10/22/2020 -- The wood furniture segment accounted for the largest share of the household furniture market in 2018 at $161.3 billion. The highest growth is also projected to come from the wood furniture segment, which is forecast to grow at a CAGR of 8.4% to 2023. This growth is mainly due customer preference for wooden furniture products over those made from other materials for aesthetic reasons and because they are more resistant to wear and tear and not prone to rust like metal furniture. Bedroom furniture was the largest segment by area of use in the global household furniture market in 2018, with 53.3% of the market, worth $125.5 billion in 2018.

Request for PDF Brochure:

https://www.marketinsightsreports.com/reports/03261159758/household-furniture-global-market-opportunities-and-strategies-to-2023-including-wood-furniture-metal-furniture-plastic-furniture-others-covering-inter-ikea-holding-b-v-ashley-furniture-industries-inc-la-z-boy-incorporated-man-wah-holdings-limited-steelcase-inc/inquiry?Mode=21

The prominent players in the global Household Furniture market are:

Inter Ikea Holding B.V., Ashley Furniture Industries Inc., La-Z-Boy Incorporated, Man Wah Holdings Limited and Steelcase Inc

Market Segmentation by Region:

North America, United States, Canada, Mexico, Asia-Pacific, China, India, Japan, South Korea, Australia, Indonesia, Malaysia, Philippines, Thailand, Vietnam, Europe, Germany, France, UK, Italy, Russia, Rest of Europe, Central & South America

Global Household Furniture Market Overview

This report analyses and evaluates the global household furniture market, which consists of sales of household furniture such as dining tables, sofas, beds, chairs, bassinets, bookcases, TV stands, juvenile furniture and other household furniture products. Household furniture is made from materials including wood, metal, plastics, reed, rattan, wicker and fiberglass. The report covers two periods 2014 to 2018, the historic period and 2018 to 2023, the forecast period.

The global household furniture market reached a value of nearly $235.3 billion in 2018 and is expected to grow at a compound annual growth rate (CAGR) of 8.1% to nearly $347.6 billion by 2023. Factors such as growth in the residential construction market, rising internet penetration, the rising popularity of eco-friendly products and lifestyle changes are contributing to the growth of the market. The household furniture market is challenged by restraints such as a skilled workers shortage, government regulations and trade protectionism.

Asia Pacific was the largest region in the household furniture market in 2018, accounting for 42.0% of the global market. It was followed by Western Europe and North America. Going forward, the fastest growth in the household furniture market will take place in Asia Pacific where it is forecast to grow at a CAGR of 9.6%, followed by Western Europe, where growth at a CAGR of 8.1% is expected. China is the largest country in terms of value in the household furniture market. China and Italy are forecast to have the fastest growth, rising at a CAGR of 11.1% and 10.0% respectively.

The market for household furniture is fragmented. Major players in the market include Inter IKEA Holding B.V., Ashley Furniture Industries, Inc., La-Z-Boy Incorporated, Steelcase Inc., Man Wah Holdings Limited.

Browse the Full report description and TOC at:

https://www.marketinsightsreports.com/reports/03261159758/household-furniture-global-market-opportunities-and-strategies-to-2023-including-wood-furniture-metal-furniture-plastic-furniture-others-covering-inter-ikea-holding-b-v-ashley-furniture-industries-inc-la-z-boy-incorporated-man-wah-holdings-limited-steelcase-inc?Mode=21

Major opportunities in the household furniture market will arise in China, where the market will gain $40.6 billion of annual sales between 2018 and 2023, the USA, where $18.4 billion will be added to the market, and the global wood furniture segment, which will put on $13.5 billion of extra sales in that period. To take advantage of these opportunities, household furniture manufacturers should consider strategies such as a focus on ready-to-assemble furniture manufacturing, using virtual prototyping tools to accelerate the design process and launching eco-friendly furniture to cater to the rising demand for furniture products produced from sustainable environmentally-friendly practices to cater to the rising demand for furniture products produced from sustainable environmentally-friendly practices.

Furthermore, Global Household Furniture Market following points are involved along with a detailed study of each point: –

– Global Household Furniture Market Overview, Drivers, Restraints and Opportunities, Segmentation overview

– Global Household Furniture Market competition by Manufacturers (2020-2026)

– Production and Consumption by Regions

– Complete profiling and analysis of Manufacturers (2020-2026)

– Manufacturing cost analysis, Materials analysis, Region-wise manufacturing expenses

– Industrial Chain, Sourcing Strategy and Downstream Buyers

– Marketing Strategy Analysis, Distributors/Traders

– Global Household Furniture Market Effect Factors Analysis (2020-2026)

– Global Household Furniture Market Forecast (2020-2026)

– Global Household Furniture Market Research Findings and Conclusion

In addition, this report discusses the key drivers influencing market growth, opportunities, the challenges and the risks faced by key players and the market as a whole. It also analyses key emerging trends and their impact on present and future development.

All the reports that we list have been tracking the impact of COVID-19 the market. Both upstream and downstream of the entire supplychain has been accounted for while doing this. Also, where possible, we will provide an additional COVID-19 update supplement/report to the report in Q3, please check for with the sales team.

About MarketInsightsReports
MarketInsightsReports provides syndicated market research on industry verticals including Healthcare, Information and Communication Technology (ICT), Technology and Media, Chemicals, Materials, Energy, Heavy Industry, etc. MarketInsightsReports provides global and regional market intelligence coverage, a 360-degree market view which includes statistical forecasts, competitive landscape, detailed segmentation, key trends, and strategic recommendations.               

Contact Us

Irfan Tamboli (Head of Sales) – Market Insights Reports          

Phone: + 1704 266 3234

Mob: +91-750-707-8687

sales@marketinsightsreports.com

irfan@marketinsightsreports.com