Furniture Market Size, Share & Trends Analysis Report By Material (Metal, Wood, Plastic, Glass), By End Use (Residential, Commercial), By Region (North America, Europe, APAC, MEA), And Segment Forecasts, 2018 - 2025

Published: Dec, 2018 | Pages: 100 | Publisher: Grand View Research
Industry: Construction | Report Format: Electronic (PDF)

The global furniture market size is expected to reach USD 718.3 billion by 2025, according to a study conducted by Grand View Research, Inc. It is projected to expand at a CAGR of 5.1% over the forecast period. High demand for branded home furniture coupled with rising spending capacity of consumers on home decor products are some of the driving factors for the growth of this market. Additionally, government initiatives to provide housing for all is also expected to positively impact the growth. For instance, since the last few years, Germany has witnessed immigration of various refugees and migrants resulting in rising demand for housing or shelter. Owing to this, the government of Germany is encouraging public and private developers to build new rental flats to solve the issues like shortage of affordable housing, resulting in a supplementary demand for furniture products.

The commercial segment includes hotels, offices, and other public buildings. It held a market share of more than 30.0% in 2017 and is anticipated to register substantial CAGR over the forecast period. This growth is attributed to extensive industrialization due to expanding development of corporate offices and hotels. For example, India is one of the key countries witnessing an extensive establishment of IT parks.

Furthermore, increasing job opportunities and employment across the globe creates a need for additional office spaces, which subsequently fuels demand for office furniture. This is also a prominent factor expected to bolster growth of the furniture market. Companies are adopting innovative furniture to enhance workforce productivity and to inculcate creativity in workspace. For instance, in March 2017, Microsoft Corporation announced its collaboration with Steelcase. Steelcase offers a diverse range of architecture, furniture, and other technology products. This collaboration was intended to introduce creative and modern furniture in the work space with a view to boost productivity and creative thinking.

Additionally, growing global population has led to a requirement for an increase in the number of schools, colleges, and other educational institutions, resulting in rapid infrastructural growth. The growing demand for furniture from the hospitality industry is also a key factor boosting growth of the commercial segment. Furthermore, rising requirement for furniture from restaurants, coffee shops, and bars, among others is expected to accelerate market growth. Increasing global competition, high cost of raw material processing and labor, and ageing workforce are some of the key challenges likely to hinder market growth.

The residential segment in North America is expected to expand at the highest CAGR over the forecast period owing to the presence of key players offering luxurious interior design products. Consumer inclination towards purchasing luxury furniture can further drive the regional demand. Additionally, increasing adoption of modern furniture and the growing popularity of online distribution channels that offer convenience and time-saving during furniture purchase are anticipated to fuel growth. Furthermore, growing demand for multi-functional products, in addition to the rising awareness about environmental concerns and the use of eco-friendly products are anticipated to gain prominence in U.S.

Middle East is expected to witness significant growth over the forecast period owing to boosming commercial and industrial sectors. The government of Kuwait has invested substantial amount of capital in the construction of public hospitals and other healthcare infrastructure. Additionally, increasing investments from private and public sectors aimed at expansion of commercial and residential construction projects in the country is another factor contributing to market growth.

Further key findings from the study suggest:

• In 2017, the wood furniture segment accounted for more than 30% market share in terms of revenue attributed to usage of wood in combination with other materials for the production of different furniture products. For instance, objects classified as metals also use wooden components or wood in furniture fittings.

• Middle Eastern and African is also anticipated to witness substantial growth over the forecast period accredited to growing residential and commercial construction industry

• The furniture market is highly fragmented and has an array of players across different regions holding varied market shares. Major players include Herman Miller, Inc.; Kimball International; HNI Corporation; and KOKUYO

• These players engage in partnerships and collaborations with a view to expand their market presence. For instance, in June 2018, HNI Corporation announced partnership with Nowy Styl Group, a Europe-based manufacturer of office furniture and chairs. As a result of this partnership, both companies expect to establish a homogenous support and service network to ensure consistency in client services and solutions.

 Table of Contents

Chapter 1. Methodology and Scope
                  1.1. Research Methodology
                  1.2. Research Scope & Assumptions
                  1.3. List of Data Sources
                  1.4. List of Abbreviations

Chapter 2. Executive Summary
                  2.1. Furniture Market - Industry Snapshot & Key Buying Criteria, 2014 - 2025
                  2.2. Furniture Market, 2014 - 2025

Chapter 3. Furniture Market: Industry Outlook
                  3.1. Market Segmentation
                  3.2. Value Chain Analysis
                  3.3. Market Dynamics
                      3.3.1. Market driver analysis
                      3.3.2. Market restraint analysis
                      3.3.3. Market opportunity analysis
                  3.4. Penetration & Growth Prospects Mapping
                  3.5. Industry Analysis - Porter's Five Forces Analysis
                  3.6. PEST Analysis

Chapter 4. Furniture Market: Services Outlook
                  4.1. Furniture Market Estimates & Forecasts, By Material, 2017 & 2025 (USD Billion)
                  4.2. Metal 
                      4.2.1. Market estimates and forecasts, 2014 - 2025 (USD Billion) 
                      4.2.2. Market estimates and forecasts, by region, 2014 - 2025 (USD Billion)
                  4.3. Wood 
                      4.3.1. Market estimates and forecasts, 2014 - 2025 (USD Billion) 
                      4.3.2. Market estimates and forecasts, by region, 2014 - 2025 (USD Billion)
                  4.4. Plastic 
                      4.4.1. Market estimates and forecasts, 2014 - 2025 (USD Billion) 
                      4.4.2. Market estimates and forecasts, by region, 2014 - 2025 (USD Billion)
                  4.5. Glass
                      4.5.1. Market estimates and forecasts, 2014 - 2025 (USD Billion) 
                      4.5.2. Market estimates and forecasts, by region, 2014 - 2025 (USD Billion)
                  4.6. Others
                      4.6.1. Market estimates and forecasts, 2014 - 2025 (USD Billion) 
                      4.6.2. Market estimates and forecasts, by region, 2014 - 2025 (USD Billion)

Chapter 5. Furniture Market: End-Use Outlook
                  5.1. Furniture Market Estimates & Forecasts, By End Use, 2017 & 2025 (USD Billion)
                  5.2. Residential 
                      5.2.1. Market estimates and forecasts, 2014 - 2025 (USD Billion)
                      5.2.2. Market estimates and forecasts, by region, 2014 - 2025 (USD Billion)
                  5.3. Commercial 
                      5.3.1. Market estimates and forecasts, 2014 - 2025 (USD Billion)
                      5.3.2. Market estimates and forecasts, by region, 2014 - 2025 (USD Billion)

Chapter 6. Furniture Market: Regional Outlook
                  6.1. Furniture Market Estimates & Forecasts, By Region, 2017 & 2025 (USD Billion)
                  6.2. North America
                      6.2.1. Market estimates and forecasts, 2014 - 2025 (USD Billion)
                      6.2.2. Market estimates and forecasts, by material, 2014 - 2025 (USD Billion)
                      6.2.3. Market estimates and forecasts, by end use, 2014 - 2025 (USD Billion)
                      6.2.4. U.S.
                          6.2.4.1. Market estimates and forecasts, 2014 - 2025 (USD Billion)
                          6.2.4.2. Market estimates and forecasts, by material, 2014 - 2025 (USD Billion)
                          6.2.4.3. Market estimates and forecasts, by end use, 2014 - 2025 (USD Billion)
                      6.2.5. Canada
                          6.2.5.1. Market estimates and forecasts, 2014 - 2025 (USD Billion)
                          6.2.5.2. Market estimates and forecasts, by material, 2014 - 2025 (USD Billion)
                          6.2.5.3. Market estimates and forecasts, by end use, 2014 - 2025 (USD Billion)
                  6.3. Europe
                      6.3.1. Market estimates and forecasts, 2014 - 2025 (USD Billion)
                      6.3.2. Market estimates and forecasts, by material, 2014 - 2025 (USD Billion)
                      6.3.3. Market estimates and forecasts, by end use, 2014 - 2025 (USD Billion)
                      6.3.4. U.K.
                          6.3.4.1. Market estimates and forecasts, 2014 - 2025 (USD Billion)
                          6.3.4.2. Market estimates and forecasts, by material, 2014 - 2025 (USD Billion)
                          6.3.4.3. Market estimates and forecasts, by end use, 2014 - 2025 (USD Billion)
                      6.3.5. Germany
                          6.3.5.1. Market estimates and forecasts, 2014 - 2025 (USD Billion)
                          6.3.5.2. Market estimates and forecasts, by material, 2014 - 2025 (USD Billion)
                          6.3.5.3. Market estimates and forecasts, by end use, 2014 - 2025 (USD Billion)
                      6.3.6. France
                          6.3.6.1. Market estimates and forecasts, 2014 - 2025 (USD Billion)
                          6.3.6.2. Market estimates and forecasts, by material, 2014 - 2025 (USD Billion)
                          6.3.6.3. Market estimates and forecasts, by end use, 2014 - 2025 (USD Billion)
                      6.3.7. Italy
                          6.3.7.1. Market estimates and forecasts, 2014 - 2025 (USD Billion)
                          6.3.7.2. Market estimates and forecasts, by material, 2014 - 2025 (USD Billion)
                          6.3.7.3. Market estimates and forecasts, by end use, 2014 - 2025 (USD Billion)
                  6.4. Asia Pacific
                      6.4.1. Market estimates and forecasts, 2014 - 2025 (USD Billion)
                      6.4.2. Market estimates and forecasts, by material, 2014 - 2025 (USD Billion)
                      6.4.3. Market estimates and forecasts, by end use, 2014 - 2025 (USD Billion)
                      6.4.4. China 
                          6.4.4.1. Market estimates and forecasts, 2014 - 2025 (USD Billion)
                          6.4.4.2. Market estimates and forecasts, by material, 2014 - 2025 (USD Billion)
                          6.4.4.3. Market estimates and forecasts, by end use, 2014 - 2025 (USD Billion)
                      6.4.5. India 
                          6.4.5.1. Market estimates and forecasts, 2014 - 2025 (USD Billion)
                          6.4.5.2. Market estimates and forecasts, by material, 2014 - 2025 (USD Billion)
                          6.4.5.3. Market estimates and forecasts, by end use, 2014 - 2025 (USD Billion)
                      6.4.6. Japan 
                          6.4.6.1. Market estimates and forecasts, 2014 - 2025 (USD Billion)
                          6.4.6.2. Market estimates and forecasts, by material, 2014 - 2025 (USD Billion)
                          6.4.6.3. Market estimates and forecasts, by end use, 2014 - 2025 (USD Billion)
                      6.4.7. Singapore 
                          6.4.7.1. Market estimates and forecasts, 2014 - 2025 (USD Billion)
                          6.4.7.2. Market estimates and forecasts, by material, 2014 - 2025 (USD Billion)
                          6.4.7.3. Market estimates and forecasts, by end use, 2014 - 2025 (USD Billion)
                      6.4.8. Malaysia 
                          6.4.8.1. Market estimates and forecasts, 2014 - 2025 (USD Billion)
                          6.4.8.2. Market estimates and forecasts, by material, 2014 - 2025 (USD Billion)
                          6.4.8.3. Market estimates and forecasts, by end use, 2014 - 2025 (USD Billion)
                  6.5. Latin America
                      6.5.1. Market estimates and forecasts, 2014 - 2025 (USD Billion)
                      6.5.2. Market estimates and forecasts, by material, 2014 - 2025 (USD Billion)
                      6.5.3. Market estimates and forecasts, by end use, 2014 - 2025 (USD Billion)
                      6.5.4. Brazil
                          6.5.4.1. Market estimates and forecasts, 2014 - 2025 (USD Billion)
                          6.5.4.2. Market estimates and forecasts, by material, 2014 - 2025 (USD Billion)
                          6.5.4.3. Market estimates and forecasts, by end use, 2014 - 2025 (USD Billion)
                      6.5.5. Mexico
                          6.5.5.1. Market estimates and forecasts, 2014 - 2025 (USD Billion)
                          6.5.5.2. Market estimates and forecasts, by material, 2014 - 2025 (USD Billion)
                          6.5.5.3. Market estimates and forecasts, by end use, 2014 - 2025 (USD Billion)
                  6.6. Middle East & Africa
                      6.6.1. Market estimates and forecasts, 2014 - 2025 (USD Billion)
                      6.6.2. Market estimates and forecasts, by material, 2014 - 2025 (USD Billion)
                      6.6.3. Market estimates and forecasts, by end use, 2014 - 2025 (USD Billion)

Chapter 7. Competitive Landscape
                  7.1. KOKUYO Co., Ltd. 
                      7.1.1. Company Overview
                      7.1.2. Financial Performance
                      7.1.3. Product Benchmarking
                      7.1.4. Recent Developments
                  7.2. OKAMURA CORPORATION
                      7.2.1. Company Overview
                      7.2.2. Financial Performance
                      7.2.3. Product Benchmarking
                      7.2.4. Recent Developments
                  7.3. Godrej & Boyce Manufacturing Company Limited
                      7.3.1. Company Overview
                      7.3.2. Financial Performance
                      7.3.3. Product Benchmarking
                      7.3.4. Recent Developments
                  7.4. Inter IKEA Systems B.V.
                      7.4.1. Company Overview
                      7.4.2. Financial Performance
                      7.4.3. Product Benchmarking
                      7.4.4. Recent Developments
                  7.5. HNI Corporation
                      7.5.1. Company Overview
                      7.5.2. Financial Performance
                      7.5.3. Product Benchmarking
                      7.5.4. Recent Developments
                  7.6. Kimball International Inc.
                      7.6.1. Company Overview
                      7.6.2. Financial Performance
                      7.6.3. Product Benchmarking
                      7.6.4. Recent Developments
                  7.7. Herman Miller, Inc.
                      7.7.1. Company Overview
                      7.7.2. Financial Performance
                      7.7.3. Product Benchmarking
                      7.7.4. Recent Developments
                  7.8. AFC SYSTEMS
                      7.8.1. Company Overview
                      7.8.2. Financial Performance
                      7.8.3. Product Benchmarking
                      7.8.4. Recent Developments
                  7.9. Ashley Furniture Industries, Inc.
                      7.9.1. Company Overview
                      7.9.2. Financial Performance
                      7.9.3. Product Benchmarking
                      7.9.4. Recent Developments
                  7.10. BERCO DESIGNS
                      7.10.1. Company Overview
                      7.10.2. Financial Performance
                      7.10.3. Product Benchmarking
                      7.10.4. Recent Developments

List of Tables

Table 1 List of Abbreviations
Table 2 Furniture market - Industry snapshot & key buying criteria, 2014 - 2025
Table 3 Furniture market, 2014 - 2025 (USD Billion)
Table 4 Furniture market, by region, 2014 - 2025 (USD Billion)
Table 5 Furniture market, by material, 2014 - 2025 (USD Billion)
Table 6 Furniture market, by end use, 2014 - 2025 (USD Billion)
Table 7 Metal market, 2014 - 2025 (USD Billion)
Table 8 Metal market, by region, 2014 - 2025 (USD Billion)
Table 9 Wood market, 2014 - 2025 (USD Billion)
Table 10 Wood market, by region, 2014 - 2025 (USD Billion)
Table 11 Plastic market, 2014 - 2025 (USD Billion)
Table 12 Plastic market, by region, 2014 - 2025 (USD Billion)
Table 13 Glass market, 2014 - 2025 (USD Billion)
Table 14 Glass market, by region, 2014 - 2025 (USD Billion)
Table 15 Others market, 2014 - 2025 (USD Billion)
Table 16 Others market, by region, 2014 - 2025 (USD Billion)
Table 17 Residential market, 2014 - 2025 (USD Billion)
Table 18 Residential market, by region, 2014 - 2025 (USD Billion)
Table 19 Commercial market, 2014 - 2025 (USD Billion)
Table 20 Commercial market, by region, 2014 - 2025 (USD Billion)
Table 21 North America furniture market, 2014 - 2025 (USD Billion)
Table 22 North America furniture market, by material, 2014 - 2025 (USD Billion)
Table 23 North America furniture market, by end use, 2014 - 2025 (USD Billion)
Table 24 U.S. furniture market, 2014 - 2025 (USD Billion)
Table 25 U.S. furniture market, by material, 2014 - 2025 (USD Billion)
Table 26 U.S. furniture market, by end use, 2014 - 2025 (USD Billion)
Table 27 Canada furniture market, 2014 - 2025 (USD Billion)
Table 28 Canada furniture market, by material, 2014 - 2025 (USD Billion)
Table 29 Canada furniture market, by end use, 2014 - 2025 (USD Billion)
Table 30 Europe furniture market, 2014 - 2025 (USD Billion)
Table 31 Europe furniture market, by material, 2014 - 2025 (USD Billion)
Table 32 Europe furniture market, by end use, 2014 - 2025 (USD Billion)
Table 33 U.K. furniture market, 2014 - 2025 (USD Billion)
Table 34 U.K. furniture market, by material, 2014 - 2025 (USD Billion)
Table 35 U.K. furniture market, by end use, 2014 - 2025 (USD Billion)
Table 36 Germany furniture market, 2014 - 2025 (USD Billion)
Table 37 Germany furniture market, by material, 2014 - 2025 (USD Billion)
Table 38 Germany furniture market, by end use, 2014 - 2025 (USD Billion)
Table 39 France furniture market, 2014 - 2025 (USD Billion)
Table 40 France furniture market, by material, 2014 - 2025 (USD Billion)
Table 41 France furniture market, by end use, 2014 - 2025 (USD Billion)
Table 42 Italy furniture market, 2014 - 2025 (USD Billion)
Table 43 Italy furniture market, by material, 2014 - 2025 (USD Billion)
Table 44 Italy furniture market, by end use, 2014 - 2025 (USD Billion)
Table 45 Asia Pacific furniture market, 2014 - 2025 (USD Billion)
Table 46 Asia Pacific furniture market, by material, 2014 - 2025 (USD Billion)
Table 47 Asia Pacific furniture market, by end use, 2014 - 2025 (USD Billion)
Table 48 China furniture market, 2014 - 2025 (USD Billion)
Table 49 China furniture market, by material, 2014 - 2025 (USD Billion)
Table 50 China furniture market, by end use, 2014 - 2025 (USD Billion)
Table 51 India furniture market, 2014 - 2025 (USD Billion)
Table 52 India furniture market, by material, 2014 - 2025 (USD Billion)
Table 53 India furniture market, by end use, 2014 - 2025 (USD Billion)
Table 54 Japan furniture market, 2014 - 2025 (USD Billion)
Table 55 Japan furniture market, by material, 2014 - 2025 (USD Billion)
Table 56 Japan furniture market, by end use, 2014 - 2025 (USD Billion)
Table 57 Singapore furniture market, 2014 - 2025 (USD Billion)
Table 58 Singapore furniture market, by material, 2014 - 2025 (USD Billion)
Table 59 Singapore furniture market, by end use, 2014 - 2025 (USD Billion)
Table 60 Malaysia furniture market, 2014 - 2025 (USD Billion)
Table 61 Malaysia furniture market, by material, 2014 - 2025 (USD Billion)
Table 62 Malaysia furniture market, by end use, 2014 - 2025 (USD Billion)
Table 63 Latin America furniture market, 2014 - 2025 (USD Billion)
Table 64 Latin America furniture market, by material, 2014 - 2025 (USD Billion)
Table 65 Latin America furniture market, by end use, 2014 - 2025 (USD Billion)
Table 66 Brazil furniture market, 2014 - 2025 (USD Billion)
Table 67 Brazil furniture market, by end use, 2014 - 2025 (USD Billion)
Table 68 Brazil furniture market, by material, 2014 - 2025 (USD Billion)
Table 69 Mexico furniture market, 2014 - 2025 (USD Billion)
Table 70 Mexico furniture market, by end use, 2014 - 2025 (USD Billion)
Table 71 Mexico furniture market, by material, 2014 - 2025 (USD Billion)
Table 72 MEA furniture market, 2014 - 2025 (USD Billion)
Table 73 MEA furniture market, by end use, 2014 - 2025 (USD Billion)
Table 74 MEA furniture market, by material, 2014 - 2025 (USD Billion)

List of Figures

Fig. 1 Furniture market segmentation
Fig. 2 Furniture market value chain analysis
Fig. 3 Furniture market driver impact
Fig. 4 Furniture market challenge impact
Fig. 5 Furniture market opportunity impact
Fig. 6 Furniture market penetration & growth prospects mapping
Fig. 7 Furniture market - PESTEL analysis
Fig. 8 Furniture market - Porter's Five Forces analysis
Fig. 9 Furniture market, by material, 2017 & 2025 (USD Billion)
Fig. 10 Furniture market, by end use, 2017 & 2025 (USD Billion)
Fig. 11 Furniture market, by region, 2017 & 2025 (USD Billion)