Home furniture: Key market research findings
- Growing preference for RTA furniture
- Riising demand for small and portable furniture
Technavio has released a new market research report on the home furniture market in the US, to its furniture portfolio. The home furniture market in the US is expected to grow at a CAGR of around 6% between 2016 and 2020. Increase in disposable income and change in consumer purchasing patterns and preferences are expected to increase the sales of home furniture products during the forecast period.
The new industry research report from Technavio discusses in detail the key drivers and trends responsible for the growth of this market and its sub-segments.
“Of late, ready-to-assemble (RTA) furniture is in high demand, especially among customers who need quick furnishings. Manufacturers just design and produce the parts, which eliminates the assembly costs on their part. Simultaneously, the retailers also benefit as these RTA products are easy to store and display, hence minimising the space requirements as well as assembly and delivery services. RTA furniture products speed up the procurement process for customers, who prefer to assemble the furniture themselves,” says Abhay Sinha, Lead Analyst, New Coverage, Technavio Research.
The home furniture market is witnessing huge demand for small and portable furniture. Small, portable home furniture is a great advantage for people living in small apartments. Small storage boxes allow residents to store valuables and other belongings with ease or serving as a small seat or a table while hiding materials inside them. These products not only provide space, but are far more economical.
The key vendors in the home furniture market in the US include Ashley Furniture Industries, IKEA, Berkshire Hathaway Furniture, Rooms To Go, and Williams-Sonoma. This market is highly fragmented due to the presence of several international and local vendors. The competition in this market is expected to intensify in terms of product extensions, new products, and new applications of integrated product offerings.
A more detailed analysis is available in the Technavio report, Home Furniture Market in the US 2016-2020.
We can customize reports by other regions and specific segments upon request.
Other related reports:
- Global Office Furniture Market 2016-2020
- Global Luxury Furniture Market 2015-2019
- Office Furniture Market in India 2015-2019
- Folding Furniture Market in the US 2015-2019
- Online Household Furniture Market in the US 2015-2019
- Outdoor Furniture Market in the US 2015-2019
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