Global Luxury Furniture Market Revenue, Opportunity, Segment and Key Trends 2018-2024

Our latest research report entitled Luxury Furniture Market (by material 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)) provides complete and deep insights into the market dynamics and growth of luxury furniture.

The latest information on market risks, industry chain structure luxury furniture cost structure, and opportunities are offered in this report. The past, present, and forecast market information will lead to investment feasibility by studying the essential luxury furniture growth factors. According to the report the global luxury furniture market is projected to grow at a CAGR of 4.7% over the forecast period of 2018-2024.

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Luxury furniture is movable pieces that showcase the best of elite-quality, and design associated with a certain era. Often crafted out of metal, glass, wood and so on, they add to the aesthetic value of an establishment such as homes, hotels, offices, and other indoor or outdoor areas. Furniture making is the most traditional application of wood and are specially made up of exotic wood species.  The luxury furniture division today significantly benefits from the rise in the disposable income, globalization, and major population shift to urban areas worldwide.

Continuous Increase of Disposable Income and Increasing Influence of Corporate Culture Would Help to Increase the Demand for Luxury Furniture Market

The global luxury furniture market is showing a positive trend of development around the globe. There are many factors which are showing a positive outlook of the market for the medium and long term. The global luxury furniture market is basically driven by various factors such as user-friendly, lightweight, attractive design, available in multi-shade and color to suit the interiors of the house, availability of financing options, social status of consumers, and other psychological factors. However, the availability of fake luxury furniture made up of substandard materials is the major restraint for market growth. The continuous increase of disposable income and the increasing influence of corporate culture would help to increase the demand for the luxury furniture market in the near future.

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North America Dominates the Global Luxury Furniture Market

On the basis of region, the global luxury furniture market is segmented into North America, Europe, Asia, and the Rest of the World (RoW). North America dominates the global luxury furniture market followed by Europe due to established industrial and corporate culture, and high disposable income among its citizen. Asia Pacific region is expected to grow at the highest CAGR during the forecast period of 2018-2024 due to affordability by young couples, growing disposable income among middle-class family, personal factors, functional factors, and social factors.

Segment Covered

The report on the global luxury furniture market covers segments such as, material type, distribution channel and end-user.  On the basis of material type the global luxury furniture market is categorized into glass, metal, plastic, leather, wood and others. On the basis of distribution channel the global luxury furniture market is categorized into departmental stores, online sales, independent furniture retailers and factory outlets. On the basis of end-user the global luxury furniture market is categorized into commercial and domestic.

Major Key Players Mentioned in this Premium Report

The report provides profiles of the companies in the global luxury furniture market such as, Duresta Upholstery Ltd., Muebles Pico, Valderamobili, Giovanni Visentin, Scavolini, Laura Ashley, Iola Furniture Ltd., Nella Vetrina, Henredon Furniture Industries Inc. and TurriS.r.l..

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Report Highlights:

The report provides deep insights on demand forecasts, market trends, and micro and macro indicators. In addition, this report provides insights on the factors that are driving and restraining the global luxury furniture market. Moreover, the IGR-Growth Matrix analysis given in the report brings an insight on the investment areas that existing or new market players can consider.

The report provides insights into the market using analytical tools such as Porter’s five forces analysis and DRO analysis of the luxury furniture market. Moreover, the study highlights current market trends and provides forecast from 2018-2024. We also have highlighted future trends in the luxury furniture market that will impact the demand during the forecast period. Moreover, the competitive analysis given in each regional market brings an insight on the market share of the leading players. This report will help manufacturers, suppliers and distributors of the luxury furniture market to understand the present and future trends in this market and formulate their strategies accordingly.