: +1 (646) 661-6066The luxury furniture market, globally, is expected to register market size of USD 28,600.7 million by 2022 growing at an expected CAGR of 3.7% from 2015 to 2022. Rapid urbanization due to increased industrialization would increase the demand for luxury home furnishings. In addition, with increased industrialization, the overall disposable income of individuals has increased over…
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The luxury furniture market, globally, is expected to register market size of USD 28,600.7 million by 2022 growing at an expected CAGR of 3.7% from 2015 to 2022. Rapid urbanization due to increased industrialization would increase the demand for luxury home furnishings.
In addition, with increased industrialization, the overall disposable income of individuals has increased over the past few years, especially in the Asia-Pacific region. Hence, with increased disposable demand for luxury products including furniture have significantly increased. Thus, increasing disposable income is acting as one of the major factor driving the global luxury furniture market.
Luxurious products have become an essential part of human life, to acquire good social status in the society; individuals are ready to spend more on luxurious products including home furnishing. This would further contribute to the growth of the industry.
Key Insights:
Domestic use dominated the end-user segment in value terms. Furniture used in kitchen, living and bedroom, bathroom, outdoor and lighting are considered under this segment. Increase adoption of luxury furniture owing to increased disposable income paired with influence of western culture among individuals are the major factor that had helped the domestic end-user segment to gain major revenue share. Further, increasing number of nuclear family would further drive the market for luxury furniture in domestic sector.
The Wooden luxury furniture segment accounted for approximately USD 5,200 million, owing to its high preference in office, home interiors, and increasing demand for wooden furnishings in various commercial buildings. Presence of several MNC and regional wooden furniture manufacturers also attributes to the larger market share of wooden furniture segment. However, glass segment is anticipated to witness highest growth during the forecast period owing to advancements in design with respect to manufacturing and durability.
Lighting segment is expected to witness a CAGR of more than 8% during the forecast period, owing to increased technical development in the sector to popularize the presence of luxury furnishing in domestic end-user.
In 2014, living room segment was the largest revenue generating segment. Owing to increasing artistic value is the ongoing trend among individuals while deciding the interior of living and bedroom. This would provide ample growth opportunity for the companies operating in the market, which ultimately benefit the industry.
In 2014, Europe was the highest revenue contributor in the global luxury furniture market; North America followed Europe in terms of revenue. However, Asia Pacific holds a high growth potential owing to increased demand for luxury furniture in domestic sector. Increasing investment in service sector paired with increasing number of nuclear family structure in this region would further add to the growth potential for luxury furniture industry in the region.
Key companies operating in the global luxury furniture market includes Turri S.r.l., Henredon Furniture Industries Inc., Laura Ashley Holding Plc, Muebles Pico, Valderamobili s.r.l, Iola Furniture Limited, Nella Vetrina, Duresta Upholstery Ltd, Giovanni Visentin s.r.l., and Scavolini S.p.a. Various companies operating in this industry are adopting online platform to sell their product, in order to reduce their overall operational cost, to stay competitive in the market.
Table of Content
Chapter 1 Methodology and Scope
1.1 Research Methodology
1.2 Research Scope & Assumptions
1.3 List of Data Sources
Chapter 2 Executive Summary
Chapter 3 Luxury Furniture Industry Outlook
3.1 Market segmentation
3.2 Market size and growth prospects, 2012 - 2022
3.3 Luxury Furniture market dynamics
3.3.1 Market driver analysis
3.3.1.1 Rapid urbanization
3.3.1.2 Rise in disposable income and change in lifestyle
3.3.1.3 Growth in real estate industry
3.3.2 Market restraint analysis
3.3.2.1 Lack of skilled work-force
3.3.2.2 Increasing cost of raw-materials
3.4 Key opportunities prioritized
3.5 Industry analysis – Porter’s
3.6 Luxury Furniture PESTEL Analysis
Chapter 4 Luxury Furniture Outlook by Material
4.1 Global luxury furniture revenue share, by material, 2014 & 2022
4.2 Wood luxury furniture
4.2.1 Wood luxury furniture market, 2012 – 2022 (USD Million)
4.3 Metal luxury furniture
4.3.1 Metal luxury furniture market, 2012 – 2022 (USD Million)
4.4 Glass luxury furniture
4.4.1 Glass luxury furniture market, 2012 – 2022 (USD Million)
4.5 Leather
4.5.1 Leather luxury furniture market, 2012 – 2022 (USD Million)
4.6 Plastic luxury furniture
4.6.1 Plastic luxury furniture market, 2012 – 2022 (USD Million)
4.7 Other luxury furniture
4.7.1 Other luxury furniture market, 2012 – 2022 (USD Million)
Chapter 5 Luxury Furniture Outlook by End-use
5.1 Global luxury furniture revenue share, by end-use, 2014 & 2022
5.2 Domestic use luxury furniture
5.2.1 Domestic use luxury furniture market, 2012 – 2022 (USD Million)
5.2.2 Living & Bedroom
5.2.2.1 Living & Bedroom market, 2012 – 2022 (USD Million)
5.2.3 Kitchen
5.2.3.1 Kitchen market, 2012 – 2022 (USD Million)
5.2.4 Lighting
5.2.4.1 Lighting market, 2012 – 2022 (USD Million)
5.2.5 Outdoor
5.2.5.1 Outdoor market, 2012 – 2022 (USD Million)
5.2.6 Bathroom
5.2.6.1 Bathroom market, 2012 – 2022 (USD Million)
5.3 Commercial use
5.3.1 Commercial use luxury furniture market, 2012 – 2022 (USD Million)
5.3.2 Hospitality
5.3.2.1 Hospitality luxury furniture market, 2012 – 2022 (USD Million)
5.3.3 Office luxury furniture
5.3.3.1 Office luxury furniture market, 2012 – 2022 (USD Million)
5.3.4 Other commercial use luxury furniture
5.3.4.1 Other commercial use luxury furniture market, 2012 – 2022 (USD Million)
Chapter 6 Luxury Furniture Regional Outlook
6.1 Luxury furniture revenue share, by region, 2014 & 2022
6.2 North America
6.2.1 North America luxury furniture market, 2012 – 2022 (USD Million)
6.3 Europe
6.3.1 Europe luxury furniture market, 2012 – 2022 (USD Million)
6.4 Asia Pacific
6.4.1 Asia Pacific luxury furniture market, 2012 – 2022 (USD Million)
6.5 RoW
6.5.1 RoW luxury furniture market, 2012 – 2022 (USD Million)
Chapter 7 Competitive Landscape
7.1 Duresta Upholstery Ltd.
7.1.1 Company Overview
7.1.2 Financial Performance
7.1.3 Product Benchmarking
7.1.4 Strategic Initiatives
7.2 Muebles Pico
7.2.1 Company Overview
7.2.2 Financial Performance
7.2.3 Product Benchmarking
7.2.4 Strategic Initiatives
7.3 Valderamobili S.r.l
7.3.1 Company Overview
7.3.2 Financial Performance
7.3.3 Product Benchmarking
7.3.4 Strategic Initiatives
7.4 Giovanni Visentin S.r.l.
7.4.1 Company Overview
7.4.2 Financial Performance
7.4.3 Product Benchmarking
7.4.4 Strategic Initiatives
7.5 Scavolini S.p.a.
7.5.1 Company Overview
7.5.2 Financial Performance
7.5.3 Product Benchmarking
7.5.4 Strategic Initiatives
7.6 Laura Ashley Holding Plc
7.6.1 Company Overview
7.6.2 Financial Performance
7.6.3 Product Benchmarking
7.6.4 Strategic Initiatives
7.7 Iola Furniture Ltd.
7.7.1 Company Overview
7.7.2 Financial Performance
7.7.3 Product Benchmarking
7.7.4 Strategic Initiatives
7.8 Nella Vetrina
7.8.1 Company Overview
7.8.2 Financial Performance
7.8.3 Product Benchmarking
7.8.4 Strategic Initiatives
7.9 Henredon Furniture Industries Inc
7.9.1 Company Overview
7.9.2 Financial Performance
7.9.3 Product Benchmarking
7.9.4 Strategic Initiatives
7.10 Turri S.r.l.
7.10.1 Company Overview
7.10.2 Financial Performance
7.10.3 Product Benchmarking
7.10.4 Strategic Initiatives
