Lewes, DE -- (SBWire) -- 04/06/2016 --Report forecast the global furniture market to grow at a CAGR of 4.18% during the period 2016-2020.
With the growing population, increase in the number of single-parent families, and the booming real estate industry worldwide, the market has been growing steadily year-on-year over the last few years. Vendors are sometimes unable to cope with the costs of production for reasons such as the rapid obsolescence of production technologies and the high cost of modernization and power, which are challenges that hinder the growth of the market. Revenue growth in the market will be driven by the rising demand for premium and designer furniture.
The report covers the present scenario and the growth prospects of the global furniture market for 2016-2020. To calculate the market size, the report takes into account revenue generated from retail sales of home and office furniture. Home office furniture has been considered under the office furniture segment.
The market is divided into the following segments based on geography:
- Americas
- APAC
- Europe
- MEA
According to the report, the number of office spaces in Europe has been rising considerably. Office vacancy rates will fall back to 2009 levels in the near future. European cities recovering from recessive conditions will dominate the improving employment scenario, with rising corporate confidence and expansions. This positive economic outlook also projects positive trends in the furniture market in the region.
Further, the report states that wood is the most commonly used raw material in this industry, with 40%-50% of furniture being made of timber. The furniture industry is seeing a shortage in the supply of timber with the growing population demanding more products. This will lead to higher raw material acquisition costs for vendors.
Global Furniture Market 2016-2020, has been prepared based on an in-depth market analysis with inputs from industry experts. The report covers the market landscape and its growth prospects over the coming years. The report also includes a discussion of the key vendors operating in this market.
key players in the Global Furniture Market: Ashley Furniture, IKEA, Steelcase, and Williams-Sonoma.
Other Prominent Vendors in the market are: 9to5 Seating, Amazon, ATG Stores, AFC Systems, Bed Bath & Beyond, Berco Furniture Solutions, Clarin, Carrefour, Costco Wholesale, Creative Wood, Global Upholstery, Godrej & Boyce, HNI, Herman Miller, J.C. Penney, KI, Kimball International, Kinnarps, Knoll, Kokuyo, Okamura, Otto, Sears Holdings, Steinhoff International, Target, Tesco, Walmart, and Wayfair.
Market driver
- Increase in number of office spaces and declining vacancy rate
- For a full, detailed list, view our report
Market challenge
- Complexity in supply chain operations
- For a full, detailed list, view our report
Market trend
- Online retailing
- For a full, detailed list, view our report
Key questions answered in this report
- What will the market size be in 2020 and what will the growth rate be?
- What are the key market trends?
- What is driving this market?
- What are the challenges to market growth?
- Who are the key vendors in this market space?
- What are the market opportunities and threats faced by the key vendors?
- What are the strengths and weaknesses of the key vendors?
Spanning over 67 pages and 34 Exhibit "Global Furniture Market 2016 - 2020" report covers Executive summary, Scope of the report, Market research methodology, Introduction, Market landscape, Manufacturing process, Diamond model of furniture industry, Market segmentation by product, Geographical segmentation, Key leading countries, Market drivers, Impact of drivers, Market challenges, Impact of drivers and challenges, Market trends, Vendor landscape, Appendix.
For more information Visit at: http://www.marketresearchreports.com/technavio/global-furniture-market-2016-2020
Find all House and Home Furniture report at: http://www.marketresearchreports.com/house-home-furniture
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