LONDON, March 20, 2019 (GLOBE NEWSWIRE) -- According to The Business Research Company’s report, the global household furniture market is expected to grow at an annual rate of around 8% to nearly $347 billion by 2023. Factors such as 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 home furniture market.
The Business Research Company’s report Household Furniture Market, Global Opportunities And Strategies 2023 covers the global home furniture market and its segments. The household furniture market is segmented by type of material into the wood furniture market, metal furniture market, and plastic furniture market. By area of use, the home furniture market is segmented into bedroom furniture, living room furniture, and dining room furniture.
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The global household furniture market is fragmented, with the top ten competitors making up around 12% of the total market in 2017. Major players in the market are Inter IKEA Holding B.V., Ashley Furniture Industries, Inc., La-Z-Boy Incorporated, Steelcase Inc., Man Wah Holdings Limited and others.
Asia Pacific was the largest region in the household furniture market in 2018, accounting for about 42% of the total. It was followed by Western Europe, North America, and then the other regions.
Household Furniture Market, Global Opportunities And Strategies 2023 is one of a series of new reports from The Business Research Company that provide market overviews, analyze and forecast market size and growth for the whole market, segments and geographies, trends, drivers, restraints, leading competitors’ revenues, profiles and market shares in 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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