Dublin, Oct. 13, 2023 (GLOBE NEWSWIRE) -- The "Living Room Furniture Market Size, Market Share, Application Analysis, Regional Outlook, Growth Trends, Key Players, Competitive Strategies and Forecasts, 2023 to 2031" report has been added to ResearchAndMarkets.com's offering.
Living room furniture market is expected to grow at a CAGR of 4.5% by 2031
This study report represents analysis of each segment from 2021 to 2031 considering 2022 as the base year. Compounded Annual Growth Rate (CAGR) for each of the respective segments estimated for the forecast period of 2022 to 2031.
The current report provides both quantitative and qualitative insights into various aspects of the market, including micro and macro environmental analysis, market trends, competitive intelligence, segment analysis, Porter's Five Forces model, top-winning strategies, top investment markets, emerging trends, technological analysis, case studies, strategic conclusions, and recommendations, among other key market insights.
Furniture has evolved into an indispensable component of human life throughout history. It is typically crafted from materials such as plastic, wood, and metal and serves to enhance the comfort and functionality of living spaces. Common pieces of furniture found in homes include tables, chairs, and sofa sets, which are commonly used in living rooms.
The global market for living room furniture is experiencing rapid growth and is poised for significant expansion over the next seven years. This growth can be attributed to several factors, including the increasing purchasing power of households, changing lifestyles, and the rising trend of purchasing living room furniture through online channels. These factors are expected to drive the growth of the living room furniture market until 2031.
Currently, the North America region dominates the living room furniture market in terms of revenue share and is expected to maintain its dominance in the forecast period. Factors contributing to this dominance include robust real estate growth, increased residential construction, and rising personal disposable income in developing countries.
Additionally, the Asia-Pacific region is projected to witness an expansion of the living room furniture market due to these same factors. However, challenges such as a shortage of skilled labor, especially in countries like China and India, inadequate transportation facilities, and insufficient infrastructure may hinder market growth.
The global living room furniture market is primarily concentrated in North America. Major players in the industry are employing various market strategies to enter new markets, enhance their market position, and expand their distribution networks.
Key questions answered in this report
- What are the key micro and macro environmental factors that are impacting the growth of Living Room Furniture market?
- What are the key investment pockets with respect to product segments and geographies currently and during the forecast period?
- Estimated forecast and market projections up to 2031.
- Which segment accounts for the fastest CAGR during the forecast period?
- Which market segment holds a larger market share and why?
- Are low and middle-income economies investing in the Living Room Furniture market?
- Which is the largest regional market for Living Room Furniture market?
- What are the market trends and dynamics in emerging markets such as Asia Pacific, Latin America, and Middle East & Africa?
- Which are the key trends driving Living Room Furniture market growth?
- Who are the key competitors and what are their key strategies to enhance their market presence in the Living Room Furniture market worldwide?
Competitive Analysis
- Market Positioning of Key Living Room Furniture Market Vendors
- Strategies Adopted by Living Room Furniture Market Vendors
- Key Industry Strategies
- Tier Analysis 2022 Versus 2031
Key Players Identified Across the Value Chain
- Ashley Furniture
- IKEA
- Williams-Sonoma
- Steelcase
- Knoll Inc.
- Masco Corp
- Sears Holdings Corp
- KOKUYO Furniture Co.Ltd
- Herman Miller Inc
Report Summary
- Market Snapshot: Global Living Room Furniture Market
- Global Living Room Furniture Market, By Material (US$ Million)
- Global Living Room Furniture Market, By Price Range (US$ Million)
- Global Living Room Furniture Market, By Sales Channel (US$ Million)
- Global Living Room Furniture Market, By Geography (US$ Million)
- Attractive Investment Proposition by Geography, 2022
Market Segmentation
Material
- Plastic
- Metal
- Glass
- Leather
- Wood
Price Range
- Premium
- Mid
- Low
Sales Channel
- Online Store
- Offline Store
For more information about this report visit https://www.researchandmarkets.com/r/yx2duj
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