Global Wooden Furniture Market by Key Players, Countries, Segments and Application, Forecast to 2027
Category: #business  By Saipriya Iyer  Date: 2021-06-07
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Global Wooden Furniture Market by Key Players, Countries, Segments and Application, Forecast to 2027

Global wooden furniture market is poised to witness a tremendous growth over the projected timeframe of 2020 to 2026 on account of rising number of residential and commercial construction activities across the globe. Alongside, increasing consumer inclination towards home décor furniture backed by growing disposable income will also further help accelerate the demand for wooden furniture. The industrial growth is supported by advancements in material and technology which has provided more innovative and durable storage furniture to the consumers.

Referring to technological advancements, manufacturers in the industry are inclined on offering innovative solutions to provide enhanced customer experience. For instance, Klaussner Home Furnishings, in 2020, announced the addition of new concept of outdoor furniture that incorporates power motion. According to the company, this technology will enable the customers to convert a chair to a chaise with just a button touch. Reportedly, this new product launch will help the company strengthen its product portfolio and market presence in the overall industry.

Get sample copy of this research report @ https://www.decresearch.com/request-sample/detail/4107  

According to report, wooden furniture market size is estimated to exceed USD 475 billion by 2026.

The overall wooden furniture market is bifurcated into segments based on residential applications, commercial applications and regional landscape.

In terms of applications, residential segment is projected to register a CAGR of 5.5% over the analysis timeframe on account of increasing product demand due to growing housing construction activities along with rising standards of living across developing economies. Besides, significant economic growth and increasing residential constructions driven by rising single household population is expected to positively influence non-upholstered furniture segment outlook.

Speaking of commercial applications, office wooden furniture segment is expected to witness a commendable growth considering the rising product adoption due to increasing establishments of several new offices, start-ups and corporate sectors. These establishments have significantly driven the demand for wooden furniture for individual workstations, meetings, lounges and cafeterias, thereby providing positive growth prospects for the segment.

In terms of regional landscape, North America wooden furniture market is estimated to register a CAGR of around 5.5% over the forecast period owing to increasing consumer spending on home furniture along with growing pallet lumber business. Speaking of consumers, joint families and nuclear families are the major end-users in the industry which has led to a considerable rise in product demand in residential segment, especially for kitchen furniture cabinets, dining tables and upholstered & non-upholstered components.

Considering the growing product demand for home furniture in North America, manufacturers in the region are introducing new offerings to cater to the growing demand. For instance, in 2019, Bernhardt Furniture Company launched its new lifestyle brand Bernhardt Loft, aimed at providing wide range of case goods and corresponding upholstery suitable for urban lifestyle, smaller homes and apartments. Apparently, this new launch will help the company gain a strong foothold in the regional market by offering products in line with modern living combined with urban aesthetics.

Major industry players operating in wooden furniture market such as Kvist Industries A/S, Lifestyle Furniture, Casta, La-Z-Boy, Inc., Kinnarps AB, An Cuong, Klaussner Home Furnishing, Doimo and Bernhardt Furniture Company are focused on implementing effective strategies such as, partnerships, acquisitions, increasing the production capacity and expansion on geographical fronts to gain a strong presence in the market.

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For instance, in 2017, An Cuong entered into a strategic investment and development partnership with Japan based Sumitomo Forestry Group, with the aim of strengthening their cooperation and business expansion. Also, in 2018, Ashley Furniture Industries opened its new outlet Ashley HomeStore in New York. Apparently, this new establishment will help the company expand its business across the region and serve large customer base.

ToC:

Chapter 1. Methodology and Scope

1.1.    Market definitions

1.2.    Base estimation & working

1.2.1. North America

1.2.2. Europe

1.2.3. APAC

1.2.4. LATAM

1.2.5. MEA

1.3.    Forecast calculation

1.3.1. COVID-19 impact calculations on industry forecast

1.4.    Data sources

1.5.    Primary

1.6.    Secondary

1.6.1. Paid sources

1.6.2. Public sources

Chapter 2. Executive Summary

2.1.    Wooden furniture industry 360° synopsis, 2016 – 2026

2.1.1. Business trends

2.1.2. Application trends

2.1.3. Regional trends

Chapter 3. Wooden Furniture Industry Insights

3.1.    Industry segmentation

3.2.    Industry ecosystem analysis

3.2.1. Raw material suppliers

3.2.2. Manufacturers

3.2.3. Suppliers & Distributors

3.2.4. Wooden furniture assemblers

3.2.5. Potential customers

3.2.6. Distribution channel analysis

3.2.7. Profit margin trends

3.2.8. Value chain disruption analysis (COVID-19 impact)

Browse complete Table of Contents (ToC) of this research report @ https://www.decresearch.com/toc/detail/wooden-furniture-market

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About Author

Saipriya Iyer

Saipriya Iyer    

Saipriya Iyer currently works as a content developer for GroundAlerts. A computer engineer by profession, she ventured into the field of writing for the love of playing with words. Having had previous experience of 3 years under her belt, she has dabbled with website ...

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