Folding Furniture Market Overview:
Market research future published a half cooked research report on global folding furniture market. The folding furniture market is expected to grow at CAGR of around 5.8% during the period 2018 to 2023.
Rapid industrialization and urbanization in the emerging economies such as China, India, Indonesia, Thailand, Brazil, and Mexico, drive the growth of the market. Many people are shifting from rural to urban areas. Hence, the increasing population, and lack of housing structures, automatically increase the value of available limited space, where space saving furniture is the most suited option. Folding furniture is an effective alternative to traditional furniture. The multi-functionality and space saving of this type of furniture, also enhance the decor of available space. Growing demand for decorative interior and low maintenance building products, are also expected to generate growth opportunities for the market. However, the fluctuating prices of raw material, may restrict the growth of the market.
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Global Folding Furniture Market – Competitive Analysis
Global Folding Furniture Market appears to be highly fragmented and competitive owning to the presence of numerous large and medium players active in regional market. The key strategies traced from the analysis of recent developments of the key players include Product Launch, Agreement & Partnership, Acquisition and expansion. Strategic partnerships between Key players support the growth and expansion plans of the key players during the forecast period. On the product and sales side, companies are investing in innovation/R&D, brand building, and fostering strong relationships with customers to support their competitive position.
Manufacturers operating in the market strive to deliver innovative solutions that improve the design and manufacturing processes of business around the world. Focusing upon the competitive edge, Folding Furniture manufacturers strive to develop products that can deliver optimal efficient, convenience and reliability. Utilizing their international and regional presence, these manufacturers assure their customers with the consistency in product & service quality. Manufacturers strive to develop their product portfolio with a wide range of Folding Furniture for every application.
Lifetime Products, Inc. a worldwide Utah-based manufacturer of folding tables and chairs, outdoor storage sheds and lawn and garden products completed the acquisition of LightHeaded Beds, LLC., of Park City UT, adding the company’s innovative lighting and furniture designs to Lifetime’s own lineup of family and home products.
Meco Corporation complete the acquisition of Stakmore, the highly regarded manufacturer of wood folding furniture to provide customers with a broader line of folding furniture options.
- Resource Furniture (U.S.)
- Expand Furniture (Canada)
- Meco Corporation (U.S)
- Ashley Furniture Industries Inc. (U.S.)
- IKEA Systems B.V. (Sweden)
- Murphy Bed (U.S.)
- La-Z-Boy Incorporated (U.S.)
- Flexfurn Ltd (Belgium)
- Gopak Ltd (U.K.)
- Nilkamal Limited (India).
- Leggett & Platt, Inc. (U.S.)
- Dorel Industries Inc. (Canada)
The report for Global Folding Furniture Market of Market Research Future comprises of extensive primary research along with the detailed analysis of qualitative as well as quantitative aspects by various industry experts, key opinion leaders to gain the deeper insight of the market and industry performance. The report gives the clear picture of current market scenario which includes historical and projected market size in terms of value and volume, technological advancement, macro economical and governing factors in the market. The report provides details information and strategies of the top key players in the industry. The report also gives a broad study of the different market segments and regions.
Market Research Analysis:
For the purpose of this study, the global folding furniture market has been segmented based on products, and applications. On the basis of product, the market has been segmented as chairs, tables, sofas, beds, and other furniture. Among products, sofa accounted for the largest market share. A sofa is the most popular product type as it enhances the décor of the living room. Foldable beds segment is expected grow at the highest CAGR during the forecast period. Growing adoption of co-living trend in the US, and various bed designs such as murphy beds, wall beds, would raise the demand in near future.
On the basis of applications, the market has been segmented as residential and non-residential. Residential sector dominates the application segment of the market and is expected to grow at the highest CAGR during the forecast period. Increasing residential construction across the globe increases the demand of the market. Non-residential segment is the second largest application segment of the market. Non-residential application segment is expected to contribute significantly during the forecast period. Folding furniture is installed in numerous sub-applications within the non-residential construction sector such as corporate offices, healthcare centers, and educational institutions. It is also installed in Cafeterias, and hotels.
Global Folding Furniture Market – Segmentation
Global Folding Furniture Market is segmented in to two key dynamics for an easy grasp and enhanced understanding.
On the basis of product, the market has been segmented as chairs, tables, sofas, beds, and other furniture. Among products, sofa accounted for the largest market share. Sofa is the so popular product as it improves the décor of the living room. Foldable beds segment is expected grow at the highest CAGR during the forecast period. Increasing bed designs such as murphy beds, wall beds, would raise the demand in near future.
On the basis of applications, the market has been segmented as residential and non-residential. Residential sector dominates the application segment of the market and is expected to grow at the highest CAGR during the forecast period. Growth in residential construction across the globe increases the demand of the market.
Segmentation by Regions: Comprises Geographical regions – North America, Europe, Asia Pacific and Rest of the World.
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Scope of the Report
This study provides an overview of the global folding furniture market, tracking two market segments across four geographic regions. The report studies key players, providing a five-year annual trend analysis that highlights market size, volume and share for North America, Europe, Asia Pacific (APAC) and Rest of the World (ROW). The report also provides a forecast, focusing on the market opportunities for the next six years for each region. The scope of the study segments the global folding furniture market by product, by application, and region.
- Other Furniture
- North America
- Asia Pacific
- Rest of the World
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