Wooden Furniture Market size is set to grow by USD 108.09 billion from 2022 to 2027

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13 Jul, 2023, 21:45 ET

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NEW YORK, July 13, 2023 /PRNewswire/ -- The wooden furniture market size is estimated to grow by USD 108.09 billion from 2022 to 2027 at a CAGR of 5.56%, according to Technavio. The growing competition in the market is compelling vendors to adopt various growth strategies such as promotional activities and spending on advertisements to improve the visibility of their services. Technavio report analyzes the market's competitive landscape and offers information on several market vendors including Ashley Furniture Industries LLC, Danube Group, Duresta Upholstery Ltd., Durian Pvt. Ltd., FABRYKI MEBLI FORTE SA, Global Furniture Group, Godrej and Boyce Manufacturing Co. Ltd., Haworth Inc., HNI Corp., Hooker Furniture Corp., Inter IKEA Holding BV, Kinnarps AB, LaZBoy Inc., MillerKnoll Inc., Natuzzi SpA, Nilkamal Ltd., Okamura Corp., Pan Emirates Home Furnishings, Samson Holding Ltd., and Steelcase Inc.

Wooden Furniture Market Insights -

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Wooden furniture market - Customer LandscapeTo help companies evaluate and develop growth strategies, the report outlines –

Key Wooden Furniture Market Driver - The growth of the real estate and construction industry is the major factor driving the wooden furniture market. The expansion of the real estate sector, encompassing the construction of office spaces, shopping centers, and homes, has generated a notable upsurge in the global demand for wooden furniture. This increased demand can be attributed to various factors, including the growing number of single-person and two-person households, the prolonged lifespan of baby boomers, the rapid pace of urbanization, and the evolving lifestyle preferences of millennials. Moreover, the necessity for multifunctional furniture has arisen as a consequence of space constraints in urban areas. Over the past decade, the global wood furniture market has witnessed substantial growth, driven by heightened investments in properties on a global scale. Developing economies, notably India and China, are experiencing significant expansion in their real estate sectors. The wood furniture market closely correlates with advancements in the property sector and the overall progression of the construction industry. Therefore, such factors are expected to drive market growth during the forecast period.

Key Wooden Furniture Market Trends - The increasing adoption of eco-friendly furniture is an emerging factor driving the wooden furniture market trend.

Key Wooden Furniture Market Challenge - The cost hikes faced by manufacturers and vendors of wooden furniture are a significant challenge hindering market growth.

Drivers, & Challenges have an impact on market dynamics and can impact businesses. Find some insights from a sample report!

The wooden furniture market report provides critical information and factual data, with a qualitative and quantitative study of the market based on market drivers and limitations as well as future prospects.

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Wooden Furniture Market Scope

Report Coverage

Details

Base year

2022

Historic period

2017-2021

Forecast period

2023-2027

Growth momentum & CAGR

Accelerate at a CAGR of 5.56%

Market growth 2023-2027

USD 108.09 billion

Market structure

Fragmented

YoY growth 2022-2023 (%)

5.1

Regional analysis

APAC, Europe, North America, South America, and Middle East and Africa

Performing market contribution

APAC at 41%

Key countries

US, China, Japan, India, and Germany

Competitive landscape

Leading Vendors, Market Positioning of Vendors, Competitive Strategies, and Industry Risks

Key companies profiled

Ashley Furniture Industries LLC, Danube Group, Duresta Upholstery Ltd., Durian Pvt. Ltd., FABRYKI MEBLI FORTE SA, Global Furniture Group, Godrej and Boyce Manufacturing Co. Ltd., Haworth Inc., HNI Corp., Hooker Furniture Corp., Inter IKEA Holding BV, Kinnarps AB, LaZBoy Inc., MillerKnoll Inc., Natuzzi SpA, Nilkamal Ltd., Okamura Corp., Pan Emirates Home Furnishings, Samson Holding Ltd., and Steelcase Inc.

Market dynamics

Parent market analysis, Market growth inducers and obstacles, Fast-growing and slow-growing segment analysis, COVID-19 impact and recovery analysis and future consumer dynamics, Market condition analysis for the forecast period

Customization purview

If our report has not included the data that you are looking for, you can reach out to our analysts and get segments customized.

Table of contents

1 Executive Summary

2 Market Landscape

3 Market Sizing

4 Historic Market Size

5 Five Forces Analysis

6 Market Segmentation by Type

7 Market Segmentation by Product Type

8 Customer Landscape

9 Geographic Landscape

10 Drivers, Challenges, and Trends

11 Vendor Landscape

12 Vendor Analysis

13 Appendix

About UsTechnavio is a leading global technology research and advisory company. Their research and analysis focus on emerging market trends and provide actionable insights to help businesses identify market opportunities and develop effective strategies to optimize their market positions. With over 500 specialized analysts, Technavio's report library consists of more than 17,000 reports and counting, covering 800 technologies, spanning across 50 countries. Their client base consists of enterprises of all sizes, including more than 100 Fortune 500 companies. This growing client base relies on Technavio's comprehensive coverage, extensive research, and actionable market insights to identify opportunities in existing and potential markets and assess their competitive positions within changing market scenarios.

ContactTechnavio ResearchJesse MaidaMedia & Marketing ExecutiveUS: +1 844 364 1100UK: +44 203 893 3200Email: [email protected]Website: www.technavio.com

SOURCE Technavio