The global upholstered furniture market size is predicted to register noteworthy CAGR during the forecast period. The growing consumer inclination towards aesthetic, luxurious, and comfortable furniture surges the upholstered furniture’s demand. The rising disposable income levels and the expansion real-estate industry are projected to be the key factors boosting the market expansion. Says Fortune Business InsightsTMhas presented this information in its upcoming report titled, “Upholstered Furniture Market, 2023-2030”.
Further, the growing number of cities and towns due to rising urbanization and increasing population is predicted to favor the market growth.
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Fortune Business Insights™ lists out all the upholstered furniture market companies that are presently striving to reduce the impact of the Covid-19 pandemic on the market:
- Century Furniture
- Hughes Furniture
- Craftmaster Furniture
- Delta Furniture
- Norwalk Furniture
- IKEA
- American Manufacturing Furniture Inc.
- Rowe Furniture
Report Coverage-
- It covers information on the key strategies adopted by major market players to garner growth and uptick their market positions.
- It assesses the factors driving and restraining the market’s expansion.
- It includes information on vital growth opportunities in the market.
- It covers an analysis of the COVID-19 pandemic’s impact on the market.
- It offers information on various market segment and sub-segments.
Drivers & Restraints-
Expanding Construction Industry to Create Lucrative Growth Opportunities for the Market
The surging urbanization and increasing construction activities across commercial and residential sectors are predicted to be the major factors stimulating the global upholstered furniture market growth. The rising disposable income levels, coupled with improving living standards are likely to complement market expansion. The growing numbers of hotels, restaurants, offices, and other commercial spaces are projected to uptick the demand for upholstered furniture, thereby fueling market expansion. The increasing consumer inclination towards aesthetic, luxurious, and comfortable furniture is likely to flourish in growth for the market.
However, the lack of skilled labor in production may restrain market expansion during the forecast period.
Regional Insights-
High Demand for Home Décor to Fuel Market Growth in North America
North America is predicted to bestride the global upholstered furniture market share. The rising construction activities, coupled with the surging demand for home décor by high-end consumers are anticipated to foster market growth in North America. The increasing renovation activities and improving income levels are anticipated to strengthen the region’s market expansion. Furthermore, the presence of major companies such as Inter IKEA Group, Ashley Furniture Industries, American Furniture Installation Inc. and others is expected to foster growth for the market.
Asia Pacific is anticipated to gain remarkable growth in the coming years. The low raw materials costs and swiftly expanding consumer markets in Asia are expected to bolster the region’s market expansion. The Indian furniture industry is likely to lead the region’s market expansion.
Segmentation-
On the basis of type, the market is divided into beds and mattresses, sofas and chairs, and others. On the basis of end-use, the market is segmented into commercials and households/residentials. On the basis of distribution channels, the market is fragmented into online retail and offline retail. Geographically, the market is classified into Asia Pacific, South America, Europe, North America, and the Middle East & Africa.
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Upholstered Furniture Market Size Highlights of the Report:
- Market Penetration: Comprehensive information on the product portfolios of the top players in the Upholstered Furniture market.
- Product Development/Innovation: Detailed insights on the upcoming technologies, RandD activities, and product launches in the market
- Competitive Assessment: In-depth assessment of the market strategies, geographic and business segments of the leading players in the market
- Market Development: Comprehensive information about emerging markets. This report analyzes the market for various segments across geographies
- Market Diversification: Exhaustive information about new products, untapped geographies, recent developments, and investments in the Upholstered Furniture market
The Global Upholstered Furniture Market Research/Analysis Report Contains Answers to your following questions:
- Which Manufacturing Technology is used for Upholstered Furniture? What Developments Are Going On in That Technology? Which Trends Are Causing These Developments?
- Who Are the Global Key Players in This Upholstered Furniture Market? What are Their Company Profile, Their Product Information, and Contact Information?
- What Was Global Market Status of Upholstered Furniture Market? What Was Capacity, Production Value, Cost and PROFIT of Upholstered Furniture Market?
- What Is Current Market Status of Upholstered Furniture Industry? What’s Market Competition in This Industry, Both Company, and Country Wise? What’s Market Analysis of Upholstered Furniture Market Trends by Taking Applications and Types in Consideration?
- What Are Projections of Global Upholstered Furniture Industry Considering Capacity, Production and Production Value? What Will Be the Estimation of Cost and Profit? What Will Be Market Share, Supply and Consumption? What about Import and Export?
- What Is Upholstered Furniture Market Chain Analysis by Upstream Raw Materials and Downstream Industry?
- What Is Economic Impact On Upholstered Furniture Industry? What are Global Upholstered Furniture Analysis Results? What Are Global Upholstered Furniture Development Trends?
- What Are Market Dynamics of Upholstered Furniture Market? What Are Challenges and Opportunities?
- What Should Be Entry Strategies, Countermeasures to Economic Impact, and Marketing Channels for Upholstered Furniture Industry?
Competitive Landscape-
Key Players Introduce New Products to Attract Market Growth
The major market players adopt ingenious strategies, including expansions, acquisitions, contracts, mergers, partnerships, collaborations, and others, to magnify their global reach. They conduct extensive research and development activities to launch new products. For instance, Century Furniture introduced the Carrier and Company Collection in April 2019 at the High Point International Furniture Market. The new collection boasts more than 50 designs for various occasions and uses.
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