This market research report presents a comprehensive segmentation of the ready to assemble (RTA) furniture market in the Europe by product type (residential RTA furniture and office RTA furniture) and by distribution channel (independent specialist retailers, independent furniture chains, convenient stores, and others). It also highlights the major drivers and key trends influencing the growth of the market. The top leading companies analyzed in the report are Dorel, IKEA, and Tvilum.
Technavio’s market research analysts estimate the RTA furniture market in Europe, to grow at a CAGR of 4% between 2016 and 2020. RTA furniture is gaining prominence among customers who wish to save money by assembling the product at home or the office, reducing the delivery costs. The independent specialist retailers are the most preferred venues for RTA furniture and have a large presence in the RTA furniture market in Europe. Walmart is one of the biggest independent specialist retailers in the market.
The new market research report from Technavio provides a breakdown and analysis of the RTA furniture segments by technology.
“The number of people working from home is on the rise, which has resulted in the high demand for home office furniture in the form of space-saving modular units and prefabricated structures. Nowadays, setting up home offices has been made simpler and easier by the availability of high-speed internet, the declining cost of computers, and the availability of software that allows virtual meetings,” says Brijesh Kumar Chaubey, Lead Analyst, Consumer & Retail, Technavio Research.
Residential RTA furniture dominates the European RTA market, occupying around 65% ofd the total market share. This segments is predominantly led by the home entertainment furniture, bedroom furniture, storage units, and tables. Moreover, vendors in the market are developing multifunctional RTA furniture with better quality raw material in different styles to attract the users, which is boosting the growth of this segment.
The key vendors in the RTA furniture market in Europe include Dorel, IKEA, and Tvilum. The stiff competition prevalent in the RTA market in Europe among vendors on the basis of product differentiation, portfolio, and pricing has driven vendors to focus on customization of furniture, which is a fast-moving trend in the market at present. Major vendors are putting effort into constantly mass customizing their furniture by making use of consumer interaction.
A more detailed analysis is available in the Technavio report, RTA Furniture Market in Europe 2016-2020.
We can customize reports by other regions and specific segments upon request.
Other related reports:
- RTA (Ready to Assemble) Furniture Market US 2015-2019
- Global Home Office Furniture Market 2015-2019
- Office Furniture Market in the US 2015-2019
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