Quick Overview of the Global Luxury Furniture Market Analysis
MarkNtel Advisors provide a detail-driven, accurate, reliable & unbiased research report on the Global Luxury Furniture Market, covering aspects associated with the changing interface of the industry over the years. This study also offers insights to the stakeholders, comprising data from the historic years (2019-22) & the base year (2023), to put together estimations for the forecast period (2024-30).
Using tools, tactics, & skills for rigorous research, our analysts bring forward a detailed study allowing the investors to make informed decisions & strategize their moves to yield higher profits in the market across locations. Additionally, our analysis is relentless & integrates an extensive examination of the industry. It entails drivers, restraints, opportunities, challenges, key trends, & recent developments, alongside various other parameters influencing the market dynamics & curating the fundamentals of the industry growth. Using such information, the stakeholders can estimate what to expect in the future.
The study is developed in an understandable format using graphs, diagrams, tables, pie charts, & other pictorial representations for stakeholders with data on the aspects promulgating the overall industry dynamics. The research aims to demonstrate information on the changing operational interface of the Luxury Furniture Market across different geographies and the expansion in each bifurcation after pondering factors like governing policies, regulations, & other external parameters.
Market Insights & Analysis: Global Luxury Furniture Market (2024-30):
The Global Luxury Furniture Market size was valued at around USD 27.65 billion in 2023 & is projected to reach around USD 41.95 billion by 2030. Along with this, the market is estimated to grow at a CAGR of around 5.67% during the forecast period, i.e., 2024-30.
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Segmentation of the Luxury Furniture Market:
The Luxury Furniture Market is highly fragmented and bifurcates into the following segmentations:
-By Type
- Indoor Furniture- Market Size & Forecast 2019-2030, (USD Million)
- Outdoor Furniture- Market Size & Forecast 2019-2030, (USD Million)
-By Type of Furniture
- Bed- Market Size & Forecast 2019-2030, (USD Million)
- Sofa & Couch- Market Size & Forecast 2019-2030, (USD Million)
- Table & Desk- Market Size & Forecast 2019-2030, (USD Million)
- Chair & Stool- Market Size & Forecast 2019-2030, (USD Million)
- Wardrobes & Dresser- Market Size & Forecast 2019-2030, (USD Million)
- Cabinets & Nightstand- Market Size & Forecast 2019-2030, (USD Million)
- Others- Market Size & Forecast 2019-2030, (USD Million)
-By Material
- Wood- Market Size & Forecast 2019-2030, (USD Million)
- Plastic- Market Size & Forecast 2019-2030, (USD Million)
- Leather- Market Size & Forecast 2019-2030, (USD Million)
- Others (Glass, Metal, etc.)- Market Size & Forecast 2019-2030, (USD Million)
-By Distribution Channel
- Direct Sales- Market Size & Forecast 2019-2030, (USD Million)
- Indirect Sales- Market Size & Forecast 2019-2030, (USD Million)
- Online Platform- Market Size & Forecast 2019-2030, (USD Million)
-By End User
- Residential- Market Size & Forecast 2019-2030, (USD Million)
- Offices- Market Size & Forecast 2019-2030, (USD Million)
- Commercial & Retail- Market Size & Forecast 2019-2030, (USD Million)
- Hospitality- Market Size & Forecast 2019-2030, (USD Million)
- Others (Government Agencies, etc.)- Market Size & Forecast 2019-2030, (USD Million)
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Global Luxury Furniture Market Driver:
Expanding Real Estate Sector to Escalate Market Growth – During the historical years, the consistent growth of the real estate sector, especially in the luxury and upscale property segment, significantly contributed to the increased demand for high-end furniture in both residential and commercial spaces. In addition, the expansion of service-based industries, such as ICT, telecommunication, etc., has widely supported the demand for luxurious furniture during 2019-23. The key factors attributed to the rising service expansion are the growth initiatives of the global economies such as India, China, the UAE, Saudi Arabia, etc., to launch flexible FDI policies, taxation relations, and minimum barriers on entry and exit, with an intent to boost their gross domestic product (GDP) growth. Therefore, global economies are witnessing an accumulation in investments to expand new office spaces & warehouses across numerous regions, which is expected to enhance the luxury furniture industry growth during 2024-2030.
Geographical Analysis:
On the geographical front, the Luxury Furniture Market expands across the following:
-By Region
- North America
- South America
- Europe
- The Middle East & Africa
- Asia-Pacific
Geographically, North America accounted for a considerable luxury furniture market share during the historical years. The increasing disposable income in the US, Canada, etc., and the rising focus of individuals on aesthetics and urban lifestyles are leading to the increased usage of high-end furniture. Along with this, buyers are shifting their preference toward quality and stylish furniture products. Therefore, they are shifting from cheap luxury furniture to exquisite modern luxury furniture, leading to significant sales in North America.
Competitive Landscape
The report incorporates a competitive landscape of the industry, a prominent section, covering all the essential attraction areas for the stakeholders. This section enlightens the investors with information after rigorous profiling of each company operating in the market. With the help of exhaustive research associated with the changing interface, strategies, & sustainability tactics of players in the Luxury Furniture Market, the researchers bring together data curating the fundamentals of the industry expansion based on the following parameters:
- Investments rise & fall
- The geographical presence of players
- Overview of the company
- Origin & business strategy
- Product/Service portfolio expansion
This section also comprises strategies adopted by the players to maintain their dominance & yield higher profits while expanding the overall business across segments and locations, grounding on the following factors:
- Ongoing trends & recent developments
- Performance indicators
- Products/Services offered
- Risk & SWOT Analysis
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The companies profiled in the Luxury Furniture Market report are
- Cassina S.p.A.
- Kimball International Inc.
- Marge Carson
- Fendi Casa
- Brown Jordan Inc.
- B&B Italia
- Marioni
- Boca Do Lobo
- Duresta
- Bentley Home
- Natuzzi
- Haworth, Inc.
- West Elm
- Pico Muebles
- Maiden Home
- Others
Key Questions Answered in the Research Report
- What are the industry’s overall statistics or estimates (Overview, Size- By Value, Forecast Numbers, Segmentation, Shares)?
- What are the trends influencing the current scenario of the market?
- What key factors would propel and impede the industry across the globe?
- How has the industry been evolving in terms of geography and product adoption?
- How have buying behaviour, customer inclination, and expectations from product manufacturers been evolving during 2024-30?
- Who are the key competitors, and what strategic partnerships or ventures are they coming up with to stay afloat during the projected time frame?
Reasons to Buy the Market Report
- The study incorporates insights to enlighten the stakeholders about the industry’s growth potential while learning the competitive scenario in the Luxury Furniture Marketto plan their strategic investments.
- The stakeholders can also get a hold of unbiased & accurate data into the dynamic interface of the industry to frame robust business strategies & investments utilizing the information cited.
- With the help of such data in this report, the investors can better understand the tactics used by the competitors to sustain the industry & establish dominance & profits over the years.
- The analysis further incorporates data that would offer efficiency to the investors in organizing their sales & marketing efforts by identifying the opportunities offered in the Luxury Furniture Market.
Why choose MarkNtel?
MarkNtel Advisors is a leading market research company, consulting, & data analytics firm that provides an extensive range of strategic reports on diverse industry verticals. We deliver data to a substantial & varied client base, including multinational corporations, financial institutions, governments, & individuals, among others.
Our specialization in niche industries & emerging Video Analytics geographies allows our clients to formulate their strategies in a much more informed way and entail parameters like Go-to-Market (GTM), product development, feasibility analysis, project scoping, market segmentation, competitive benchmarking, market sizing & forecasting, & trend analysis, among others, for 14.8 diverse industrial verticals.
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