NEW YORK, June 28, 2022 /PRNewswire/ — The Home Furniture Market in the US is fragmented owing to the presence of several regional and international players. The fragmented nature of the market has resulted in an increase in competition among vendors. Hence, vendors are deploying various inorganic and organic strategies to compete and gain an edge in the market.
Uncover successful business strategies deployed by leading vendors by purchasing our full report. Request a Sample Report.
Technavio expects the home furniture market size in the US to grow by USD 8.22 billion. However, the growth momentum is expected to decelerate at a CAGR of 2.53% during the forecast period.
The home furniture market in US is driven by the improving residential construction market. The number of women working and living independently in the US has increased significantly over the years. In addition, the drop in unemployment rates has increased the demand for apartments and houses in the country.
Moreover, the continued growth in the immigrant population in the US has further fueled the growth of the real estate industry. All these factors are positively influencing the growth of the home furniture market in the US. The market growth will further accelerate with the increased awareness of home decor and attractive furnishings.
However, the inherent threat from re-used furniture market will reduce the growth potential in the market. The millennial population in the US is exhibiting an increased preference for re-used and refurbished furniture. Such furniture has also been emerging as an option for individuals who continuously keep moving to new places and have less financial stability. This shift in consumer preference is slowing down the growth of the market.
Didn’t Find What You Were Looking For? Customize Report- Do reach out to our analysts for more customized reports as per your requirements. Buy the Report Now!
Technavio’s report analyzes the home furniture market in US by product (living room furniture, bedroom furniture, storage furniture, and others) and distribution channel (offline and online).
Learn more about the factors assisting the growth of the market, and get a sample report instantly.
Request a Sample Report for further highlights on other dominant players covered in the report.
Sleeping Pillow Market by Distribution Channel and Geography – Forecast and Analysis 2022-2026
Wooden Furniture Market by Application and Geography – Forecast and Analysis 2022-2026
|
Home Furniture Market Scope in US |
|
|
Report Coverage |
Details |
|
Page number |
120 |
|
Base year |
2020 |
|
Forecast period |
2021-2025 |
|
Growth momentum & CAGR |
Decelerate at a CAGR of 2.53% |
|
Market growth 2021-2025 |
$ 8.22 billion |
|
Market structure |
Fragmented |
|
YoY growth (%) |
1.26 |
|
Regional analysis |
US |
|
Competitive landscape |
Leading companies, Competitive strategies, Consumer engagement scope |
|
Key companies profiled |
Ashley Furniture Industries Inc., Inter IKEA Holding BV, Klaussner Home Furnishings, LaZBoy Inc., Pier 1 Imports Inc., Raymour and Flanigan Furniture and Mattresses, Restoration Hardware Inc., Roomstogo.com Inc., Steinhoff International Holdings NV, and Williams-Sonoma Inc. |
|
Market dynamics |
Parent market analysis, Market growth inducers and obstacles, Fast-growing and slow-growing segment analysis, COVID 19 impact and recovery analysis and future consumer dynamics, Market condition analysis for the forecast period |
|
Customization purview |
If our report has not included the data that you are looking for, you can reach out to our analysts and get segments customized. |
Executive Summary
Market Landscape
Market Sizing
Five Forces Analysis
Market Segmentation by Product
Market Segmentation by Distribution channel
Customer landscape
Vendor Landscape
Vendor Analysis
Appendix
Technavio is a leading global technology research and advisory company. Their research and analysis focuses on emerging market trends and provides actionable insights to help businesses identify market opportunities and develop effective strategies to optimize their market positions.
With over 500 specialized analysts, Technavio’s report library consists of more than 17,000 reports and counting, covering 800 technologies, spanning across 50 countries. Their client base consists of enterprises of all sizes, including more than 100 Fortune 500 companies. This growing client base relies on Technavio’s comprehensive coverage, extensive research, and actionable market insights to identify opportunities in existing and potential markets and assess their competitive positions within changing market scenarios.
Contacts
Technavio Research
Jesse Maida
Media & Marketing Executive
US: +1 844 364 1100
UK: +44 203 893 3200
Email: [email protected]
Website: www.technavio.com/
SOURCE Technavio