LONDON, GREATER LONDON, UK, March 20, 2019 /EINPresswire.com/ — The global household furniture market reached a value of nearly $235.3 billion in 2018 and will grow at a compound annual growth rate (CAGR) of 8.1% to nearly $347.6 billion by 2023. Growth in the residential construction market, rising internet penetration, the rising popularity of eco-friendly products and lifestyle changes are contributing to the growth of the market. The household furniture market is challenged by restraints such as a skilled workers’ shortage, government regulations and trade protectionism.
The wood furniture market segment accounted for the largest share of the household furniture market in 2018 at $161.3 billion. The highest growth is also projected to come from the wood furniture segment, which is forecast to grow at a CAGR of 8.4% to 2023. Bedroom furniture was the largest segment by area of use in the global household furniture market in 2018, with 53.3% of the market, worth $125.5 billion in 2018.
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Household Furniture Market, Global Opportunities And Strategies 2023 is one of a series of new reports from The Business Research Company that provides household furniture market overviews, analyze and forecast market size and growth for the whole home furniture market, segments and geographies, trends, drivers, restraints, leading competitors’ revenues, profiles and furniture market shares. The series has over 300 industry reports, covering over 2400 market segments and 56 geographies. The reports draw on 150,000 datasets, extensive secondary research, and exclusive insights from interviews with industry leaders. A highly experienced and expert team of analysts and modellers provides market analysis and forecasts. The reports identify top countries and segments for opportunities and strategies based on market trends and leading competitors’ approaches.
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Read Household furniture Global Market Opportunities And Strategies from The Business Research Company for information on the following:
Markets Covered: Global household furniture market, household furniture market by type of material (wood furniture market, metal furniture market, plastic furniture and others); household furniture market by area of use (bedroom furniture, living room furniture, dining room furniture and others).
Data Segmentations: Household furniture market size, global and by country; historic and forecast size, and growth rates for the world, 7 regions and 12 countries; by product segments – by type of material (wood furniture market, metal furniture market, plastic furniture and others) and by area of use (bedroom furniture, living room furniture, dining room furniture) market size, historic and forecast size, and growth rates for the world, 7 regions and 12 countries.
Household Furniture Market Organizations Covered: IKEA Holding B.V., Ashley Furniture Industries, Inc., La-Z-Boy Incorporated, Steelcase Inc., Man Wah Holdings Limited.
Regions: North America, Europe, Middle East, South America, Africa, Asia Pacific
Time Series: Five years historic (2014-18) and forecast (2018-23).
Other Information And Analyses: Global household furniture market comparison with macro-economic factors, household furniture market size as a percentage Of GDP, global and by country; per capita average household furniture market expenditure, global and by country; global household furniture market in 2023- countries offering significant new opportunities, global household furniture market in 2023- segments offering significant new opportunities, household furniture market development process and distribution channels, market trends and strategies, drivers and restraints, key mergers and acquisitions, market innovations, customer information, market entry/expansion strategies, market opportunities.
Sourcing and Referencing: Data and analysis throughout the report are sourced using end notes.
Strategies For Participants In The Household Furniture Industry: The report explains over 15 strategies for companies in the household furniture sector, based on industry trends and company analysis. These include household furniture companies shifting their focus from the conventional furniture manufacturing business to ready-to-assemble (RTA) furniture manufacturing to capitalize on its growing popularity, and IKEA Holding’s growth strategy to expand its business by developing new product ranges.
Opportunities For Companies In The Household Furniture Sector: The report reveals where the global household furniture industry will put on most $ sales up to 2023.
Number of Pages: 170
Number of Figures: 77
Number of Tables: 81
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Source: EIN Presswire