Luxury Furniture Market Know the Untapped Revenue Growth Opportunities
According to the latest market research report title “Luxury Furniture Market By Type (Indoor Furniture [Bedroom Furniture, Dining Furniture, Office Furniture, Kitchen Furniture, Living Room Furniture], Outdoor Furniture [Patio Furniture, Rooftop Furniture, Beachfront Furniture, Others]), By Type of Furniture (Bed, Sofa & Couch, Table & Desk, Chair & Stool, Wardrobes & Dresser, Cabinets & Nightstand, Others), By Material (Wood, Plastic, Leather, Others), By Distribution Channel (Direct Sales, Indirect Sales, Online Platform), By End User (Residential, Offices, Commercial & Retail, Hospitality, Others), By Region (North America, South America, Europe, The Middle East & Africa, Asia-Pacific–Forecast to 2030″, published by MarkNtel Advisors, The Global Luxury Furniture Market size is valued at around USD 27.65 billion in 2023 is estimated to grow at a CAGR of around 5.67% during the forecast period, i.e., 2024-2030.
The data present in the report exhibit from the historic years (2019-22) and the base year (2023) to put together estimations for the forecast period (2024-30). In the study, our researchers put together reliable, unbiased, and accurate data to enlighten investors about fluctuations in the industry & anticipations on what to expect in the future. Since the industry is dynamic and highly fragmented, this report enables the prominent players to make strategic moves associated with their investments in the coming years.
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Global Luxury Furniture Market Driver:
Increasing Development of 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 2018-21. 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 market growth during 2024-2030.
Luxury Furniture Market Segmentation
The Luxury Furniture Market is highly robust and fragmented into numerous segments;
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)
By Region
-North America
-South America
-Europe
-The Middle East & Africa
-Asia-Pacific
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Key Players Operating in the Luxury Furniture Market: –
Cassina S.p.A.
-Business Description
-Product Portfolio
-Strategic Alliances or Partnerships
-Recent Developments
-Financial Details
-Others
Kimball International Inc.
-Business Description
-Product Portfolio
-Strategic Alliances or Partnerships
-Recent Developments
-Financial Details
-Others
Marge Carson
-Business Description
-Product Portfolio
-Strategic Alliances or Partnerships
-Recent Developments
-Financial Details
-Others
Key Questions Answered:
- What is the projected CAGR of the Luxury Furniture Market during the forecast period?
- Which segment is expected to lead the Luxury Furniture Market?
- Who are the prominent players driving market growth?
Key Offerings:
- Market Share, Size, and Revenue Forecast
- Market Dynamics: Growth drivers, restraints, investment opportunities, and key trends
- Landscape: Leading key players and other prominent participants
About MarkNtel Advisors
MarkNtel Advisors is a leading research, 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 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 15 diverse industrial verticals.
Using such information, our clients can identify attractive investment opportunities & strategize their moves to yield higher ROI (Return of Interest) through an early mover advantage with top-management approaches.
We understand the mounting & diverse needs of our clients. Hence, our analysts focus on emerging industries to provide services that fulfilled their assessment of the current & future industry potential, identify white spaces & hotspots, & venture into new geographies or business segments in the future.
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