Updated market research report on Global Luxury Furniture Market 2020 with COVID-19 impact analysis, trends, size, share and competitive landscape by 2026.
Global Luxury Furniture Market valued approximately USD 24.1 billion in 2018 is anticipated to grow with a healthy growth rate of more than 5.22% over the forecast period 2019-2026. The Luxury Furniture Market is continuously growing in the global scenario at significant pace. Luxury furniture refers to the premium quality articles like tables, chairs, or beds, which are often made by skilled craftsmen. It is used to enhance the aesthetic value of an institution such as homes, hotels, offices and other indoor or outdoor areas. Growth and developments in the real estate industry, rise in disposable incomes, increase in the population living in urban areas and growing environmental consciousness among consumers are the substantial driving factors of the market during the forecast period.
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Moreover, rising development of multifunctional furniture is the factor which likely to create numerous opportunity in the market during the forecast period. Further, luxury furniture offers several benefits such as it is more durable, it is more eco-friendly manufacturing process, it has high sustainability and many more. These benefits are also boosting the demand of luxury furniture among its end-users across the globe. However, lack of skilled workforce and presence of fake material are the factors that limiting the market growth of Luxury Furniture across the globe.
The regional analysis of Global Luxury Furniture Market is considered for the key regions such as Asia Pacific, North America, Europe, Latin America and Rest of the World. North America is the leading/significant region across the world in terms of market share due to rapidly growing advancements in luxurious furniture and increasing disposable income of the individuals in the region. Further, Europe is estimated to grow at higher growth rate in the global Luxury Furniture market over the upcoming years. Asia-Pacific is also anticipated to exhibit higher growth rate/CAGR over the forecast period 2019-2026 due to changing lifestyle & consumer behavior and rising urbanization among people in the region.
The major market players included in this report are:
Steel Case
Ashley Furniture Industries
Inter IKEA Group
Sears Holdings
Haworth
Herman Miller
HNI
Kimball International
Knoll
KOKUYO Furniture
Poltrona Frau
Masco
Mercury Row
Red Barrel Studio
The objective of the study is to define market sizes of different segments & countries in recent years and to forecast the values to the coming eight years. The report is designed to incorporate both qualitative and quantitative aspects of the industry within each of the regions and countries involved in the study. Furthermore, the report also caters the detailed information about the crucial aspects such as driving factors & challenges which will define the future growth of the market. Additionally, the report shall also incorporate available opportunities in micro markets for stakeholders to invest along with the detailed analysis of competitive landscape and product offerings of key players. The detailed segments and sub-segment of the market are explained below:
By Type:
Chairs
Tables
Upholstery
Others
By Application:
Corporation
Hospitality Industry
Shop-Fitting Industry
Others
By Regions:
North America
U.S.
Canada
Europe
UK
Germany
Asia Pacific
China
India
Japan
Latin America
Brazil
Mexico
Rest of the World
Furthermore, years considered for the study are as follows:
Historical year – 2016, 2017
Base year – 2018
Forecast period – 2019 to 2026
Target Audience of the Global Luxury Furniture Market in Market Study:
Key Consulting Companies & Advisors
Large, medium-sized, and small enterprises
Venture capitalists
Value-Added Resellers (VARs)
Third-party knowledge providers
Investment bankers
Investors
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Major Points From TOC:
Executive Summary
Luxury Furniture Market Definition and Scope
Luxury Furniture Market Dynamics
Luxury Furniture Market Industry Analysis
Luxury Furniture Market, by Type
Luxury Furniture Market, by Application
Luxury Furniture Market, by Regional Analysis
Competitive Intelligence
Research Process