North America wooden furniture market is estimated to register a CAGR of around 5.5% over the forecast period owing to increasing consumer spending on home furniture along with growing pallet lumber business. Speaking of consumers, joint families and nuclear families are the major end-users in the industry which has led to a considerable rise in product demand in residential segment, especially for kitchen furniture cabinets, dining tables and upholstered & non-upholstered components.
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Considering the growing product demand for home furniture in North America, manufacturers in the region are introducing new offerings to cater to the growing demand. For instance, in 2019, Bernhardt Furniture Company launched its new lifestyle brand Bernhardt Loft, aimed at providing wide range of case goods and corresponding upholstery suitable for urban lifestyle, smaller homes and apartments. Apparently, this new launch will help the company gain a strong foothold in the regional market by offering products in line with modern living combined with urban aesthetics.
Global wooden furniture market is poised to witness a tremendous growth over the projected timeframe of 2020 to 2026 on account of rising number of residential and commercial construction activities across the globe. Alongside, increasing consumer inclination towards home décor furniture backed by growing disposable income will also further help accelerate the demand for wooden furniture. The industrial growth is supported by advancements in material and technology which has provided more innovative and durable storage furniture to the consumers.
In terms of applications, residential segment is projected to register a CAGR of 5.5% over the analysis timeframe on account of increasing product demand due to growing housing construction activities along with rising standards of living across developing economies. Besides, significant economic growth and increasing residential constructions driven by rising single household population is expected to positively influence non-upholstered furniture segment outlook.
Speaking of commercial applications, office wooden furniture segment is expected to witness a commendable growth considering the rising product adoption due to increasing establishments of several new offices, start-ups and corporate sectors. These establishments have significantly driven the demand for wooden furniture for individual workstations, meetings, lounges and cafeterias, thereby providing positive growth prospects for the segment.
Major industry players operating in wooden furniture market such as Kvist Industries A/S, Lifestyle Furniture, Casta, La-Z-Boy, Inc., Kinnarps AB, An Cuong, Klaussner Home Furnishing, Doimo and Bernhardt Furniture Company are focused on implementing effective strategies such as, partnerships, acquisitions, increasing the production capacity and expansion on geographical fronts to gain a strong presence in the market.
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Some Point from Table of Contents:
TABLE 1. Wooden furniture industry 3600 synopsis, 2016 – 2026
TABLE 2. Global wooden furniture market estimates and forecast, 2016 – 2026, (Thousand Tonnes) (USD Billion)
TABLE 3. Global wooden furniture industry estimates and forecast by application, 2016 – 2026 (Thousand Tonnes)
TABLE 4. Global wooden furniture industry estimates and forecast by application, 2016 – 2026 (USD Billion)
TABLE 5. Global wooden furniture industry estimates and forecast by region, 2016 – 2026 (Thousand Tonnes)
TABLE 6. Global wooden furniture industry estimates and forecast by region, 2016 – 2026 (USD Billion)
TABLE 7. Vendor matrix
TABLE 8. Industry impact forces
TABLE 9. Company performance analysis
TABLE 10. Key stakeholders
TABLE 11. Strategy dashboard
TABLE 12. Wooden furniture market estimates & forecast from residential, 2016 – 2026, (Thousand Tonnes) (USD Billion)
TABLE 13. Wooden furniture market estimates & forecast from residential, by region, 2016 – 2026, (Thousand Tonnes)
TABLE 14. Wooden furniture industry estimates & forecast from residential, by region, 2016 – 2026, (USD Billion)
TABLE 15. Wooden furniture market estimates & forecast from upholstered furniture, 2016 – 2026, (Thousand Tonnes) (USD Billion)
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