The global Luxury Furniture Market was dominated by the North America region over the historic period of 2015-16. Global luxury furniture market is basically driven by various features of the luxury furniture such as user friendly, easy to use, low cost, lightweight, attractive design, available in multi-shade and color to suit the interior decoration of house, affordability of costly furniture set due to financing option provided by financing companies, social status of consumers, motivational factors and other psychological factors. Availability of raw material and its adverse impact on the environment and health of living beings are hindering the growth of the market. The continuous increase of disposable income and the increasing influence of corporate culture would help to increase the market in the long term.
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Infinium Global Research has produced a new premium report Luxury Furniture Market. The report covers the analysis of global as well as regional markets of Luxury Furniture. The objective of the study is to identify market sizes of different segments & countries in recent years and to forecast the values for the next six years. The report also deep dives into the sub-segments of Luxury Furniture Market by type (glass, metal, plastic, leather, wood and others), distribution channel (departmental stores, online sales, independent furniture retailers and factory outlets) and end user (commercial and domestic) through main geographies in the Global Market such as North America, Europe, Asia-Pacific and RoW.
The report covers market changing aspects including drivers, restraints, opportunities, and trends expected to encouragement the expansion of the Luxury Furniture Market during the said period. The report also provides market attractiveness analysis, by geography, and market share analysis, by key players respectively. Some of the prominent participants in the Global Luxury Furniture Market are Duresta Upholstery Ltd., Muebles Pico, Valderamobili, Giovanni Visentin, Scavolini, Laura Ashley, Iola Furniture Ltd., Nella Vetrina, Henredon Furniture Industries Inc. and Turri S.r.l.
Urbanization and Improving Disposable Incomes Stir Market Growth
Rapid urbanization and increasing disposable incomes have been extremely important for the soaring profits of the global market. In the coming years, a growing number of commercial spaces such as restaurants, hotels, and clubs are likely to be key end users of luxury furniture items as they persistently try to create a luxurious experience for the customer. Entry of various designers focus on providing an opulent lifestyle choice to the end user, and a higher awareness about the artistic value of the luxury furniture have also been identified as the important growth drivers for the global market.
Introduction of alternative and engineered material except for traditional wood has transformed the market and its affordability of a large number of consumer
Earlier the wood was only raw material for manufacturing of furniture items, but as the supply of different wood depleted, furniture items became a costly affair for a large number of consumers around the globe. Thanks to science, which solved this problem through different engineered material. Now, fusing good quality wood with extraordinary form, furniture manufacturers have broken all traditional excuse, when it comes to making chairs, lighting, tables etc. for a large number of potential customers. Wooden furniture is majorly used for their beautiful natural look, resilience, and durability, easy to maintain and as a smart investment. Besides this, engineered materials over wooden furniture are trending these days, due to affordability, lightweight, attractive designs these days. Now, furniture designers are introducing materials like metal, leather, and glass etc. as a substitute for wood. Besides this, glass is also being used in furniture factories, where design is a part of the philosophy. Powder coated, chromed and anodized modern furniture to stand a fair chance in the unexploited marketplace, though they are much expensive.
The Leading companies in the market are Duresta Upholstery Ltd., Muebles Pico, Valderamobili, Giovanni Visentin, Scavolini, Laura Ashley, Iola Furniture Ltd., Nella Vetrina, Henredon Furniture Industries Inc. and Turri S.r.l.