- The key vendors in the outdoor furniture market in the US 2015-2019 are Brown Jordan International Inc., Century Furniture LLC, Forever Patio, Home Depot Inc., and Homecrest Outdoor Living LLC.
London, 27 May 2015: Technavio, an independent tech-focused global research firm, has announced the publication of its market research report on the outdoor furniture market in the US 2015-2019. Increasing adoption of environment friendly furniture is one of the major trends being witnessed in the market. Environmental concerns and deforestation have encouraged furniture manufacturers to adopt environment friendly solutions. Numerous vendors have also started manufacturing a wide range of esthetic and high-quality furniture using moso bamboo, which is stronger and harder than oak. The outdoor furniture market in the US is expected to grow at a CAGR of 4% during the forecast period of 2014-2019.
The sales of outdoor furniture has accelerated due to increasing construction activity, technological development, broadband penetration, and an increase in disposable income. Moreover, a boom in the real estate industry, decreasing unemployment rates, and increased sustainability initiatives have also enhanced growth of the outdoor furniture market in the US.
“The concept of outdoor living has led to increased demand for multifunctional and flexible furniture. For instance, these days, many chairs and tables that can be converted into large bookcases are available in the market,” says Faisal Ghaus, Vice President of Technavio Research.
“Consumers are increasingly renovating household items to convert them for use in their outdoor space.”
To define the market conditions in the next 3-4 years, Technavio analysts have conducted in-depth analysis of the impact of market drivers, challenges and trends featuring data on product segmentations, vendor shares, growth rate by revenue and an evaluation of the different buying criteria in the order of importance.
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