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Furniture Market Growth, Size, Trends, Analysis Report by Type, Application, Region and Segment Forecast 2022-2026

  • Published: Jul 2022
  • Pages: 140
  • SKU: IRTNTR44836
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The furniture market share is expected to increase to USD 122.32 million from 2021 to 2026, and the market's growth momentum will accelerate at a CAGR of 4.01%.

This furniture market research report provides valuable insights on the post COVID-19 impact on the market, which will help companies evaluate their business approaches. Furthermore, this report extensively covers furniture market segmentation by product (home, office, and others) and geography (APAC, Europe, North America, South America, and Middle East and Africa). The furniture market report also offers information on several market vendors, including 9to5 Seating LLC, AFC Furniture Solutions, Ashcomm LLC, Creative Wood, Durham Furniture, Godrej and Boyce Manufacturing Co. Ltd., Herman Miller Inc., HNI Corp., Inter IKEA Holding BV, Kinnarps AB, Kohler Co., KOKUYO Co. Ltd., Okamura Corp., Roomstogo.com Inc., Steelcase Inc., Stryker Corp., The Home Depot Inc., Williams Sonoma Inc., and Wipro Ltd. among others.

What will the Furniture Market Size be During the Forecast Period?

Furniture Market Size

Download the Free Report Sample to Unlock the Furniture Market Size for the Forecast Period and Other Important Statistics

 

Furniture Market: Key Drivers, Trends, and Challenges

Based on our research output, there has been a negative impact on the market growth during and post COVID-19 era. The evolving consumer demographics in emerging economies is notably driving the furniture market growth, although factors such as the high exposure to global economic factors may impede the market growth. Our research analysts have studied the historical data and deduced the key market drivers and the COVID-19 pandemic impact on the furniture industry. The holistic analysis of the drivers will help in deducing end goals and refining marketing strategies to gain a competitive edge.

Key Furniture Market Driver

  • One of the key factors driving the global furniture industry growth is the evolving consumer demographics in emerging economies. 
  • Rapid urbanization has resulted in a consistent increase in wages and income levels across the world, especially in countries such as China and India.
  • According to The World Bank Group, in China, the gross national income (GNI) per capita increased from $2,510 in 2007 to $10,390 in 2019.
  • Rising purchasing power in such emerging economies enables their population to spend on consumer goods, as well as furniture and furnishing products.
  • The focus of the governments of countries such as India to develop skyscrapers and affordable housing is estimated to drive the growth of the global furniture market during the forecast period.
  • The growth of double-income households in emerging economies is also a key factor in the evolution of consumer demographics.
  • The evolution of consumer demographics in emerging economies is a key factor that will drive the growth of the market during the forecast period.

Key Furniture Market Trend

  • The increasing number of strategic alliances and partnerships between vendors across the world is one of the key furniture market trends that is expected to impact the industry positively in the forecast period. 
  • The key vendors such as Herman Miller had actively engaged in M&A in the last decade. The company had acquired several other companies since the late 2000s.
  • The vendors are focusing on improving operational efficiency to provide an extensive range of services such as home delivery, along with the offering of end-to-end furniture solutions, to become global lifestyle brands.
  • In September 2018, Steelcase acquired Orangebox Group Limited, a UK-based manufacturer of furniture for workplaces. Due to such reasons, Technavio expects the market to grow significantly in the coming years.

Key Furniture Market Challenge

  • One of the key challenges to the global furniture industry growth is the high exposure to global economic factors.
  • The economic factors include consumer spending capacity, income levels, white-collar employment rates, business confidence levels, investments, trade volumes, corporate spending, and the globalization of businesses and companies.
  • A downturn in global economic growth or in some key regions such as APAC, North America, or Europe will have an adverse effect on the global furniture market.
  • When an economy is depressed and employment rates, as well as disposable incomes, are low, the purchases of furniture and furnishing products tend to decline. 
  • In an economy that is slowing down, commercial and residential construction has also diminished.
  • The demand for new residential and office furniture will be limited, which would also affect the sales of the products offered by the vendors.
  • The market is highly dependent on international diplomacy and trade relations. This is estimated to be a major hindrance to the market growth during the forecast period.

This furniture market analysis report also provides detailed information on other upcoming trends and challenges that will have a far-reaching effect on the market growth. The actionable insights on the trends and challenges will help companies evaluate and develop growth strategies for 2022-2026.

Parent Market Analysis

Technavio categorizes the global furniture market as part of the global home furnishings market. Our research report has extensively covered external factors influencing the parent market growth potential in the coming years, which will determine the levels of growth of the furniture market during the forecast period.

Who are the Major Furniture Market Vendors?

The report analyzes the market's competitive landscape and offers information on several market vendors, including:

 

  • 9to5 Seating LLC
  • AFC Furniture Solutions
  • Ashcomm LLC
  • Creative Wood
  • Durham Furniture
  • Godrej and Boyce Manufacturing Co. Ltd.
  • Herman Miller Inc.
  • HNI Corp.
  • Inter IKEA Holding BV
  • Kinnarps AB
  • Kohler Co.
  • KOKUYO Co. Ltd.
  • Okamura Corp.
  • Roomstogo.com Inc.
  • Steelcase Inc.
  • Stryker Corp.
  • The Home Depot Inc.
  • Williams Sonoma Inc.
  • Wipro Ltd.

 

This statistical study of the furniture market encompasses successful business strategies deployed by the key vendors. The furniture market is fragmented and the vendors are deploying growth strategies such as mergers and acquisitions to compete in the market.

Product Insights and News

  • Steelcase Inc.- The company offers a re-designed height-adjustable desk experience, which reminds users to move throughout the day and find their progress with the new Ology desk through the Active Touch desk and Steelcase Rise app.
  • AFC Furniture Solutions - The company offers furniture that includes a cabin table, meeting table, cafe chair, meeting chair, and sofa set, which can be used in home and office.

To make the most of the opportunities and recover from post COVID-19 impact, market vendors should focus more on the growth prospects in the fast-growing segments, while maintaining their positions in the slow-growing segments.

The furniture market forecast report offers in-depth insights into key vendor profiles. The profiles include information on the production, sustainability, and prospects of the leading companies.

Furniture Market Value Chain Analysis

Our report provides extensive information on the value chain analysis for the furniture market, which vendors can leverage to gain a competitive advantage during the forecast period. The end-to-end understanding of the value chain is essential in profit margin optimization and evaluation of business strategies. The data available in our value chain analysis segment can help vendors drive costs and enhance customer services during the forecast period.

Which are the Key Regions for Furniture Market?

Furniture Market Market segmentation by region

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48% of the market's growth will originate from APAC during the forecast period. China and Japan are the key markets for furniture in APAC. Market growth in this region will be faster than the growth of the market in other regions.

The onset of urbanization and increasing disposable income in emerging economies will facilitate the furniture market growth in APAC over the forecast period. This market research report entails detailed information on the competitive intelligence, marketing gaps, and regional opportunities in store for vendors, which will assist in creating efficient business plans.

COVID Impact and Recovery Analysis

The market in APAC witnessed a decline in 2020, owing to the outbreak of COVID-19. Countries such as China, Japan, South Korea, and India were highly affected by the COVID-19 pandemic. The governments of most countries in APAC introduced emergency legislation, which included restrictions on business activities and social gatherings, during the first half of 2020. This, in turn, hindered the demand for furniture in the region in 2020. However, the market is expected to witness a rise in the sales of furniture via e-commerce channels during the forecast period. Hence, the market is expected to recover from the beginning of 2021, with the gradual lifting of these restrictions and the economic recovery.

What are the Revenue-generating Product Segments in the Furniture Market?

Furniture Market Segmentation

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The furniture market share growth in the home segment will be significant during the forecast period. As people are shifting to urban areas in developing economies such as China and India, they are more likely to purchase furniture and furnishings for their homes, thus driving new product sales in the market. In addition, the increasing government initiatives pertaining to urban housing development, such as Sardar Patel National Urban Housing Mission in India, are estimated to drive the demand for home furniture during the forecast period. 

This report provides an accurate prediction of the contribution of all the segments to the growth of the furniture market size and actionable market insights on post COVID-19 impact on each segment.

You may be interested in:

Online furniture market - The predicted growth for the online furniture market share from 2021 to 2026 is USD 112.67 billion at a progressing CAGR of 16.79%.

North America High-end furniture market - The market share is expected to increase by USD 2.69 billion from 2021 to 2026, and the market's growth momentum will accelerate at a CAGR of 4.38%.

US Home Furniture market - The market share is expected to increase by USD 8.22 billion from 2020 to 2025, at a CAGR of 2.53%.

Europe Furniture market - The market share is expected to increase by USD 35.93 billion from 2021 to 2026, at a CAGR of 2.95%.

Outdoor Furniture market - The market share is expected to increase by USD 3.73 billion from 2020 to 2025, and the market's growth momentum will accelerate at a CAGR of 3%.

APAC Luxury Furniture market - The market share is expected to increase by USD 2.00 billion from 2021 to 2026, and the market's growth momentum will accelerate at a CAGR of 5.38%.

Luxury Furniture market - The market share report is a comprehensive research document that provides in-depth qualitative and quantitative intelligence. Technavio's analysts estimate the market share growth of USD 9215.63 million from 2022 to 2027, at a CAGR of 5.21%

Smart Furniture market - The market share is expected to increase by USD 244.21 million from 2019 to 2024, at a CAGR of 5%.

Folding Furniture market - The market share is expected to increase by USD 4.44 billion from 2020 to 2025, and the market's growth momentum will accelerate at a CAGR of 6.58%.

Street Furniture market - The market share study is a comprehensive report with in-depth qualitative and quantitative research evaluating the current scenario and analyzing the growth of 2.24% and CAGR of 2.92% for the forecast period 2021 to 2026.

Indonesia Furniture market - The market share is expected to rise to USD 3.29 billion from 2021 to 2026, at a CAGR of 12.08%.

Pet Furniture market - The market share is projected to increase by USD 4.95 billion from 2021 to 2026, at a CAGR of 6.55%. 

Furniture Market Scope

Report Coverage

Details

Page number

120

Base year

2021

Forecast period

2022-2026

Growth momentum & CAGR

Accelerate at a CAGR of 4.01%

Market growth 2022-2026

$ 122.32 million

Market structure

Fragmented

YoY growth (%)

3.47

Regional analysis

APAC, Europe, North America, South America, and Middle East and Africa

Performing market contribution

APAC at 48%

Key consumer countries

US, China, Japan, Germany, and UK

Competitive landscape

Leading companies, Competitive strategies, Consumer engagement scope

Key companies profiled

9to5 Seating LLC, AFC Furniture Solutions, Ashcomm LLC, Creative Wood, Durham Furniture, Godrej and Boyce Manufacturing Co. Ltd., Herman Miller Inc., HNI Corp., Inter IKEA Holding BV, Kinnarps AB, Kohler Co., KOKUYO Co. Ltd., Okamura Corp., Roomstogo.com Inc., Steelcase Inc., Stryker Corp., The Home Depot Inc., Williams Sonoma Inc., and Wipro Ltd.

Market dynamics

Parent market analysis, Market growth inducers and obstacles, Fast-growing and slow-growing segment analysis, COVID 19 impact and recovery analysis and future consumer dynamics, Market condition analysis for forecast period

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What are the Key Data Covered in this Furniture Market Report?

  • CAGR of the market during the forecast period 2022-2026
  • Detailed information on factors that will drive furniture market growth during the next five years
  • Precise estimation of the furniture market size and its contribution to the parent market
  • Accurate predictions on upcoming trends and changes in consumer behavior
  • The growth of the furniture industry across APAC, Europe, North America, South America, and Middle East and Africa
  • A thorough analysis of the market's competitive landscape and detailed information on vendors
  • Comprehensive details of factors that will challenge the growth of furniture market vendors

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1 Executive Summary

  • 1.1 Market overview
    • Exhibit 01: Executive Summary – Chart on Market Overview
    • Exhibit 02: Executive Summary – Data Table on Market Overview
    • Exhibit 03: Executive Summary – Chart on Global Market Characteristics
    • Exhibit 04: Executive Summary – Chart on Market by Geography
    • Exhibit 05: Executive Summary – Chart on Market Segmentation by Product
    • Exhibit 06: Executive Summary – Chart on Incremental Growth
    • Exhibit 07: Executive Summary – Data Table on Incremental Growth
    • Exhibit 08: Executive Summary – Chart on Vendor Market Positioning

2 Market Landscape

  • 2.1 Market ecosystem
    • Exhibit 09: Parent market
    • Exhibit 10: Market Characteristics

3 Market Sizing

  • 3.1 Market definition
    • Exhibit 11: Offerings of vendors included in the market definition
  • 3.2 Market segment analysis
    • Exhibit 12: Market segments
  • 3.3 Market size 2021
    • 3.4 Market outlook: Forecast for 2021-2026
      • Exhibit 13: Chart on Global - Market size and forecast 2021-2026 ($ million)
      • Exhibit 14: Data Table on Global - Market size and forecast 2021-2026 ($ million)
      • Exhibit 15: Chart on Global Market: Year-over-year growth 2021-2026 (%)
      • Exhibit 16: Data Table on Global Market: Year-over-year growth 2021-2026 (%)

    4 Five Forces Analysis

    • 4.1 Five forces summary
      • Exhibit 17: Five forces analysis - Comparison between 2021 and 2026
    • 4.2 Bargaining power of buyers
      • Exhibit 18: Chart on Bargaining power of buyers – Impact of key factors 2021 and 2026
    • 4.3 Bargaining power of suppliers
      • Exhibit 19: Bargaining power of suppliers – Impact of key factors in 2021 and 2026
    • 4.4 Threat of new entrants
      • Exhibit 20: Threat of new entrants – Impact of key factors in 2021 and 2026
    • 4.5 Threat of substitutes
      • Exhibit 21: Threat of substitutes – Impact of key factors in 2021 and 2026
    • 4.6 Threat of rivalry
      • Exhibit 22: Threat of rivalry – Impact of key factors in 2021 and 2026
    • 4.7 Market condition
      • Exhibit 23: Chart on Market condition - Five forces 2021 and 2026

    5 Market Segmentation by Product

    • 5.1 Market segments
      • Exhibit 24: Chart on Product - Market share 2021-2026 (%)
      • Exhibit 25: Data Table on Product - Market share 2021-2026 (%)
    • 5.2 Comparison by Product
      • Exhibit 26: Chart on Comparison by Product
      • Exhibit 27: Data Table on Comparison by Product
    • 5.3 Home - Market size and forecast 2021-2026
      • Exhibit 28: Chart on Home - Market size and forecast 2021-2026 ($ million)
      • Exhibit 29: Data Table on Home - Market size and forecast 2021-2026 ($ million)
      • Exhibit 30: Chart on Home - Year-over-year growth 2021-2026 (%)
      • Exhibit 31: Data Table on Home - Year-over-year growth 2021-2026 (%)
    • 5.4 Office - Market size and forecast 2021-2026
      • Exhibit 32: Chart on Office - Market size and forecast 2021-2026 ($ million)
      • Exhibit 33: Data Table on Office - Market size and forecast 2021-2026 ($ million)
      • Exhibit 34: Chart on Office - Year-over-year growth 2021-2026 (%)
      • Exhibit 35: Data Table on Office - Year-over-year growth 2021-2026 (%)
    • 5.5 Others - Market size and forecast 2021-2026
      • Exhibit 36: Chart on Others - Market size and forecast 2021-2026 ($ million)
      • Exhibit 37: Data Table on Others - Market size and forecast 2021-2026 ($ million)
      • Exhibit 38: Chart on Others - Year-over-year growth 2021-2026 (%)
      • Exhibit 39: Data Table on Others - Year-over-year growth 2021-2026 (%)
    • 5.6 Market opportunity by Product
      • Exhibit 40: Market opportunity by Product ($ million)

    6 Customer Landscape

    • 6.1 Customer landscape overview
      • Exhibit 41: Analysis of price sensitivity, lifecycle, customer purchase basket, adoption rates, and purchase criteria

    7 Geographic Landscape

    • 7.1 Geographic segmentation
      • Exhibit 42: Chart on Market share by geography 2021-2026 (%)
      • Exhibit 43: Data Table on Market share by geography 2021-2026 (%)
    • 7.2 Geographic comparison
      • Exhibit 44: Chart on Geographic comparison
      • Exhibit 45: Data Table on Geographic comparison
    • 7.3 APAC - Market size and forecast 2021-2026
      • Exhibit 46: Chart on APAC - Market size and forecast 2021-2026 ($ million)
      • Exhibit 47: Data Table on APAC - Market size and forecast 2021-2026 ($ million)
      • Exhibit 48: Chart on APAC - Year-over-year growth 2021-2026 (%)
      • Exhibit 49: Data Table on APAC - Year-over-year growth 2021-2026 (%)
    • 7.4 Europe - Market size and forecast 2021-2026
      • Exhibit 50: Chart on Europe - Market size and forecast 2021-2026 ($ million)
      • Exhibit 51: Data Table on Europe - Market size and forecast 2021-2026 ($ million)
      • Exhibit 52: Chart on Europe - Year-over-year growth 2021-2026 (%)
      • Exhibit 53: Data Table on Europe - Year-over-year growth 2021-2026 (%)
    • 7.5 North America - Market size and forecast 2021-2026
      • Exhibit 54: Chart on North America - Market size and forecast 2021-2026 ($ million)
      • Exhibit 55: Data Table on North America - Market size and forecast 2021-2026 ($ million)
      • Exhibit 56: Chart on North America - Year-over-year growth 2021-2026 (%)
      • Exhibit 57: Data Table on North America - Year-over-year growth 2021-2026 (%)
    • 7.6 South America - Market size and forecast 2021-2026
      • Exhibit 58: Chart on South America - Market size and forecast 2021-2026 ($ million)
      • Exhibit 59: Data Table on South America - Market size and forecast 2021-2026 ($ million)
      • Exhibit 60: Chart on South America - Year-over-year growth 2021-2026 (%)
      • Exhibit 61: Data Table on South America - Year-over-year growth 2021-2026 (%)
    • 7.7 Middle East and Africa - Market size and forecast 2021-2026
      • Exhibit 62: Chart on Middle East and Africa - Market size and forecast 2021-2026 ($ million)
      • Exhibit 63: Data Table on Middle East and Africa - Market size and forecast 2021-2026 ($ million)
      • Exhibit 64: Chart on Middle East and Africa - Year-over-year growth 2021-2026 (%)
      • Exhibit 65: Data Table on Middle East and Africa - Year-over-year growth 2021-2026 (%)
    • 7.8 China - Market size and forecast 2021-2026
      • Exhibit 66: Chart on China - Market size and forecast 2021-2026 ($ million)
      • Exhibit 67: Data Table on China - Market size and forecast 2021-2026 ($ million)
      • Exhibit 68: Chart on China - Year-over-year growth 2021-2026 (%)
      • Exhibit 69: Data Table on China - Year-over-year growth 2021-2026 (%)
    • 7.9 US - Market size and forecast 2021-2026
      • Exhibit 70: Chart on US - Market size and forecast 2021-2026 ($ million)
      • Exhibit 71: Data Table on US - Market size and forecast 2021-2026 ($ million)
      • Exhibit 72: Chart on US - Year-over-year growth 2021-2026 (%)
      • Exhibit 73: Data Table on US - Year-over-year growth 2021-2026 (%)
    • 7.10 Germany - Market size and forecast 2021-2026
      • Exhibit 74: Chart on Germany - Market size and forecast 2021-2026 ($ million)
      • Exhibit 75: Data Table on Germany - Market size and forecast 2021-2026 ($ million)
      • Exhibit 76: Chart on Germany - Year-over-year growth 2021-2026 (%)
      • Exhibit 77: Data Table on Germany - Year-over-year growth 2021-2026 (%)
    • 7.11 Japan - Market size and forecast 2021-2026
      • Exhibit 78: Chart on Japan - Market size and forecast 2021-2026 ($ million)
      • Exhibit 79: Data Table on Japan - Market size and forecast 2021-2026 ($ million)
      • Exhibit 80: Chart on Japan - Year-over-year growth 2021-2026 (%)
      • Exhibit 81: Data Table on Japan - Year-over-year growth 2021-2026 (%)
    • 7.12 UK - Market size and forecast 2021-2026
      • Exhibit 82: Chart on UK - Market size and forecast 2021-2026 ($ million)
      • Exhibit 83: Data Table on UK - Market size and forecast 2021-2026 ($ million)
      • Exhibit 84: Chart on UK - Year-over-year growth 2021-2026 (%)
      • Exhibit 85: Data Table on UK - Year-over-year growth 2021-2026 (%)
    • 7.13 Market opportunity by geography
      • Exhibit 86: Market opportunity by geography ($ million)

    8 Drivers, Challenges, and Trends

    • 8.1 Market drivers
      • 8.2 Market challenges
        • 8.3 Impact of drivers and challenges
          • Exhibit 87: Impact of drivers and challenges in 2021 and 2026
        • 8.4 Market trends

          9 Vendor Landscape

          • 9.1 Overview
            • 9.2 Vendor landscape
              • Exhibit 88: Overview on Criticality of inputs and Factors of differentiation
            • 9.3 Landscape disruption
              • Exhibit 89: Overview on factors of disruption
            • 9.4 Industry risks
              • Exhibit 90: Impact of key risks on business

            10 Vendor Analysis

            • 10.1 Vendors covered
              • Exhibit 91: Vendors covered
            • 10.2 Market positioning of vendors
              • Exhibit 92: Matrix on vendor position and classification
            • 10.3 AFC Furniture Solutions
              • Exhibit 93: AFC Furniture Solutions - Overview
              • Exhibit 94: AFC Furniture Solutions - Product / Service
              • Exhibit 95: AFC Furniture Solutions - Key offerings
            • 10.4 Creative Wood
              • Exhibit 96: Creative Wood - Overview
              • Exhibit 97: Creative Wood - Product / Service
              • Exhibit 98: Creative Wood - Key offerings
            • 10.5 Godrej and Boyce Manufacturing Co. Ltd.
              • Exhibit 99: Godrej and Boyce Manufacturing Co. Ltd. - Overview
              • Exhibit 100: Godrej and Boyce Manufacturing Co. Ltd. - Business segments
              • Exhibit 101: Godrej and Boyce Manufacturing Co. Ltd. - Key offerings
              • Exhibit 102: Godrej and Boyce Manufacturing Co. Ltd. - Segment focus
            • 10.6 HNI Corp.
              • Exhibit 103: HNI Corp. - Overview
              • Exhibit 104: HNI Corp. - Business segments
              • Exhibit 105: HNI Corp. - Key news
              • Exhibit 106: HNI Corp. - Key offerings
              • Exhibit 107: HNI Corp. - Segment focus
            • 10.7 Inter IKEA Holding BV
              • Exhibit 108: Inter IKEA Holding BV - Overview
              • Exhibit 109: Inter IKEA Holding BV - Product / Service
              • Exhibit 110: Inter IKEA Holding BV - Key news
              • Exhibit 111: Inter IKEA Holding BV - Key offerings
            • 10.8 Kinnarps AB
              • Exhibit 112: Kinnarps AB - Overview
              • Exhibit 113: Kinnarps AB - Product / Service
              • Exhibit 114: Kinnarps AB - Key offerings
            • 10.9 KOKUYO Co. Ltd.
              • Exhibit 115: KOKUYO Co. Ltd. - Overview
              • Exhibit 116: KOKUYO Co. Ltd. - Business segments
              • Exhibit 117: KOKUYO Co. Ltd. - Key news
              • Exhibit 118: KOKUYO Co. Ltd. - Key offerings
              • Exhibit 119: KOKUYO Co. Ltd. - Segment focus
            • 10.10 Steelcase Inc.
              • Exhibit 120: Steelcase Inc. - Overview
              • Exhibit 121: Steelcase Inc. - Business segments
              • Exhibit 122: Steelcase Inc. - Key offerings
              • Exhibit 123: Steelcase Inc. - Segment focus
            • 10.11 Williams Sonoma Inc.
              • Exhibit 124: Williams Sonoma Inc. - Overview
              • Exhibit 125: Williams Sonoma Inc. - Business segments
              • Exhibit 126: Williams Sonoma Inc. - Key news
              • Exhibit 127: Williams Sonoma Inc. - Key offerings
              • Exhibit 128: Williams Sonoma Inc. - Segment focus
            • 10.12 Wipro Ltd.
              • Exhibit 129: Wipro Ltd. - Overview
              • Exhibit 130: Wipro Ltd. - Business segments
              • Exhibit 131: Wipro Ltd. - Key news
              • Exhibit 132: Wipro Ltd. - Key offerings
              • Exhibit 133: Wipro Ltd. - Segment focus

            11 Appendix

            • 11.1 Scope of the report
              • 11.2 Inclusions and exclusions checklist
                • Exhibit 134: Inclusions checklist
                • Exhibit 135: Exclusions checklist
              • 11.3 Currency conversion rates for US$
                • Exhibit 136: Currency conversion rates for US$
              • 11.4 Research methodology
                • Exhibit 137: Research methodology
                • Exhibit 138: Validation techniques employed for market sizing
                • Exhibit 139: Information sources
              • 11.5 List of abbreviations
                • Exhibit 140: List of abbreviations

              Research Framework

              Technavio presents a detailed picture of the market by way of study, synthesis, and summation of data from multiple sources. The analysts have presented the various facets of the market with a particular focus on identifying the key industry influencers. The data thus presented is comprehensive, reliable, and the result of extensive research, both primary and secondary.

              TechnavioINFORMATION SOURCES

              Primary sources

              • Manufacturers and suppliers
              • Channel partners
              • Industry experts
              • Strategic decision makers

              Secondary sources

              • Industry journals and periodicals
              • Government data
              • Financial reports of key industry players
              • Historical data
              • Press releases
              Technavio

              TechnavioDATA ANALYSIS

              Data Synthesis

              • Collation of data
              • Estimation of key figures
              • Analysis of derived insights

              Data Validation

              • Triangulation with data models
              • Reference against proprietary databases
              • Corroboration with industry experts
              Technavio

              TechnavioREPORT WRITING

              Qualitative

              • Market drivers
              • Market challenges
              • Market trends
              • Five forces analysis

              Quantitative

              • Market size and forecast
              • Market segmentation
              • Geographical insights
              • Competitive landscape
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              Furniture Market market growth will increase by $122.32 mn during 2022-2026.
              The furniture market market is expected to grow at a CAGR of 4.01% during 2022-2026.
              Technavio has segmented the furniture market market by product (home, office, and others) and geography (APAC, Europe, North America, South America, and Middle East and Africa).
              9to5 Seating LLC, AFC Furniture Solutions, Ashcomm LLC, Creative Wood, Durham Furniture, Godrej and Boyce Manufacturing Co. Ltd., Herman Miller Inc., HNI Corp., Inter IKEA Holding BV, Kinnarps AB, Kohler Co., KOKUYO Co. Ltd., Okamura Corp., Roomstogo.com Inc., Steelcase Inc., Stryker Corp., The Home Depot Inc., Williams Sonoma Inc., Wipro Ltd. are a few of the key vendors in the furniture market market.
              APAC will register the highest growth rate of 48% among the other regions. Therefore, the furniture market market in APAC is expected to garner significant business opportunities for the vendors during the forecast period.
              The key factors driving the furniture market market growth are:
              • Evolving consumer demographics in emerging economies
              • Increasing number of strategic alliances and partnerships
              The furniture market market vendors should focus on grabbing business opportunities from the home segment as it accounted for the largest market share in the base year.
              • What are the key global market and the regional market share?
              • What are the revenue-generating key market segments?
              • What are the key factors driving and challenging this market’s growth?
              • Who are the key market vendors and their growth strategies?
              • What are the latest trends influencing the growth of this market?
              • What are the variables influencing the market growth in the primary regions?
              • What are the factors influencing the growth of the parent market?
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