- The key vendors in the RTA furniture market in the US 2015-2019 are Bush Industries Inc., Dorel Industries Inc., IKEA Group, Sauder Woodworking Co., Target Corp., and Walmart Stores Inc.
London, 26 June 2015: Technavio, an independent tech-focused global research firm, has announced the publication of its market research report on the RTA furniture market in the US 2015-2019. A key trend observed in this market is the elimination of tools that are required to assemble furniture. Many vendors are now innovating tool-free assembly of furniture with locking mechanisms to secure the parts in place together. This involves the use of slides, panels, hinges, handles, and knobs that helps in reducing consumer errors and also reduces production cost. This market is expected to grow at a CAGR of 4.75% during the forecast period of 2014-2019.
Market growth is driven by the considerable cost difference of ready-to-assemble (RTA) furniture over fully assembled furniture. Fully assembled furniture is not cost-effective as they have high production and assembling costs, it also involves high shipping charges, which are then passed to the customer. RTA furniture allows the consumers to remodel and update their home décor frequently; it is also inexpensive as they largely follow a standard design and involve the use of raw materials that are cost-effective.
“Considering the complexity involved in assembling RTA furniture, assembly services have evolved to aid consumers in putting it together, which increases the convenience and cost advantage offered by these products,” says Faisal Ghaus, Vice President of Technavio Research.
“This is a supportive mechanism adopted by vendors dealing with RTA furniture and specialty service providers, fueling market growth.”
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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