Luxury Furniture Market Size, Share, Trends, Demand, Growth and Competitive Analysis| MarkNtel

 

MarkNtel Advisors recently published a detailed industry analysis of the Luxury Furniture Market. The report covers growth trends, geographical marketing strategies, challenges, opportunities, and drivers influencing the market.

Luxury Furniture Market Size, Share, and Trends Analysis Report – Industry Overview and Forecast to 2030

The Luxury Furniture Market size was valued at around USD 27.65 billion in 2023 & is projected to reach around USD 41.95 billion by 2030. Along with this, the market is estimated to grow at a CAGR of around 5.67% during the forecast period, i.e., 2024-30.

What are the major Driver the Luxury Furniture industry?

Expanding 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 2019-23. 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 industry growth during 2024-2030.

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What segments define the Luxury Furniture market from 2024 to 2030? How do these segments contribute to market dynamics and growth?

• By Type
• Indoor Furniture- Market Size & Forecast 2019-2030, (USD Million)
• Bedroom Furniture- Market Size & Forecast 2019-2030, (USD Million)
• Dining Furniture- Market Size & Forecast 2019-2030, (USD Million)
• Office Furniture- Market Size & Forecast 2019-2030, (USD Million)
• Kitchen Furniture- Market Size & Forecast 2019-2030, (USD Million)
• Living Room Furniture- Market Size & Forecast 2019-2030, (USD Million)
• Outdoor Furniture- Market Size & Forecast 2019-2030, (USD Million)
• Patio Furniture- Market Size & Forecast 2019-2030, (USD Million)
• Rooftop Furniture- Market Size & Forecast 2019-2030, (USD Million)
• Beachfront Furniture- Market Size & Forecast 2019-2030, (USD Million)
• Others (Poolside, Deck Furniture, etc.)- Market Size & Forecast 2019-2030, (USD Million)

According to report, of them all, the outdoor furniture segment holds a substantial market share in the Global Luxury Furniture Market.

• 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)

According to report, the high durability and aesthetic design offered by wooden materials in the luxury furniture industry positively supported the growth of the wood segment during the historical years.

• 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)

Explore the Complete Luxury Furniture Market Analysis Report – https://www.marknteladvisors.com/research-library/luxury-furniture-market.html

Geographical Analysis: Luxury Furniture Market

o   North America

o   Europe

o   Asia-Pacific

o   South America

o   Middle East & Africa

Luxury Furniture Market Share & Competitive Landscape:

The Luxury Furniture Market is characterized by intense competition, with several key players driving growth through innovation, market expansion, and strategic investments. The competitive landscape provides valuable insights into the industry's leading companies, highlighting their strengths, financial performance, and market influence.

Leading Companies in the Luxury Furniture Market are:

• Cassina S.p.A.
• Kimball International Inc.
• Marge Carson
• Fendi Casa
• Brown Jordan Inc.
• B&B Italia
• Marioni
• Boca Do Lobo
• Duresta
• Bentley Home
• Natuzzi
• Haworth, Inc.
• West Elm
• Pico Muebles
• Maiden Home

Luxury Furniture Industry Recent Development:

• 2024: B&B Italia introduced new outdoor luxury furniture products, designed by renowned designers, namely Mario Bellini & Monica Armani.
• 2023: Kimball International Inc. partnered with two designers to launch a unique lounge solution for consumers.

 Questions Addressed in this Study

1.What factors are driving the Luxury Furniture Market growth?

2.How is the Luxury Furniture Market expected to grow over the next five years?

3.What are the key insights into the current trends in the Luxury Furniture Market?

4.What is the current size of the Luxury Furniture Market, and how is it projected to change in the future?

6.What is the future outlook for the Luxury Furniture Market in terms of technological advancements and market expansion?

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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.

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