Technavio has been monitoring the luxury furniture market and it is poised to grow by USD 6.43 billion during 2020-2024, progressing at a CAGR of over 4% during the forecast period. The report offers an up-to-date analysis regarding the current market scenario, latest trends and drivers, and the overall market environment.
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Technavio has announced its latest market research report titled Global Luxury Furniture Market 2020-2024 (Graphic: Business Wire)
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Impact of COVID-19
The COVID-19 pandemic continues to transform the growth of various industries. However, the immediate impact of the outbreak is varied. While a few industries will register a drop in demand, numerous others will continue to remain unscathed and show promising growth opportunities. COVID-19 will have a Low impact on the luxury furniture market. The market growth in 2020 is likely to increase compared to the market growth in 2019.
Frequently Asked Questions-
- Based on segmentation by distribution channel, which is the leading segment in the market?
- The offline segment is expected to be the leading segment based on distribution channel in the global market during the forecast period.
- What are the major trends in the market?
- The emergence of eco-friendly and organic luxury furniture is one of the major trends in the market.
- At what rate is the market projected to grow?
- Growing at a CAGR of over 4%, the incremental growth of the market is anticipated to be USD 6.43 billion.
- Who are the top players in the market?
- Club House Italia Spa, Giorgio Armani Spa, Herman Miller Inc., Knoll Inc., Minotti Spa, MUEBLES PICO SA, Natuzzi Spa, Opera Contemporary, Reflex Spa, and Rugiano Srl. are some of the major market participants.
- What are the key market drivers and challenges?
- Rising demand for multi-functional luxury furniture is one of the major factors driving the market. However, the frequent product recalls restraints market growth.
- How big is the Europe market?
- The Europe region will contribute 39% of market growth.
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View market snapshot before purchasing
The market is fragmented, and the degree of fragmentation will accelerate during the forecast period. Club House Italia Spa, Giorgio Armani Spa, Herman Miller Inc., Knoll Inc., Minotti Spa, MUEBLES PICO SA, Natuzzi Spa, Opera Contemporary, Reflex Spa, and Rugiano Srl are some of the major market participants. The rising demand for multi-functional luxury furniture will offer immense growth opportunities. In a bid to help players strengthen their market foothold, this luxury furniture market forecast report provides a detailed analysis of the leading market vendors. The report also empowers industry honchos with information on the competitive landscape and insights into the different product offerings offered by various companies.
Technavio's custom research reports offer detailed insights on the impact of COVID-19 at an industry level, a regional level, and subsequent supply chain operations. This customized report will also help clients keep up with new product launches in direct indirect COVID-19 related markets, upcoming vaccines and pipeline analysis, and significant developments in vendor operations and government regulations.
Luxury Furniture Market 2020-2024: Segmentation
Luxury Furniture Market is segmented as below:
- Distribution Channel
- Offline
- Online
- Geography
- Europe
- North America
- APAC
- MEA
- South America
- Application
- Residential
- Commercial
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Luxury Furniture Market 2020-2024: Scope
Technavio presents a detailed picture of the market by the way of study, synthesis, and summation of data from multiple sources. The luxury furniture market report covers the following areas:
- Luxury Furniture Market Size
- Luxury Furniture Market Trends
- Luxury Furniture Market Analysis
This study identifies emergence of eco-friendly and organic luxury furniture as one of the prime reasons driving the luxury furniture market growth during the next few years.
Technavio suggests three forecast scenarios (optimistic, probable, and pessimistic) considering the impact of COVID-19. Technavio's in-depth research has direct and indirect COVID-19 impacted market research reports.
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Luxury Furniture Market 2020-2024: Key Highlights
- CAGR of the market during the forecast period 2020-2024
- Detailed information on factors that will assist luxury furniture market growth during the next five years
- Estimation of the luxury furniture market size and its contribution to the parent market
- Predictions on upcoming trends and changes in consumer behavior
- The growth of the luxury furniture market
- Analysis of the market's competitive landscape and detailed information on vendors
- Comprehensive details of factors that will challenge the growth of luxury furniture market vendors
Table of Contents:
Executive Summary
Market Landscape
- Market ecosystem
- Market characteristics
- Value chain analysis
Market Sizing
- Market definition
- Market segment analysis
- Market size 2019
- Market outlook: Forecast for 2019 2024
Five Forces Analysis
- Five forces summary
- Bargaining power of buyers
- Bargaining power of suppliers
- Threat of new entrants
- Threat of substitutes
- Threat of rivalry
- Market condition
Market Segmentation by Application
- Market segments
- Comparison by Application
- Residential Market size and forecast 2019-2024
- Commercial Market size and forecast 2019-2024
- Market opportunity by Application
Market Segmentation by Distribution channel
- Market segments
- Comparison by Distribution channel
- Offline Market size and forecast 2019-2024
- Online Market size and forecast 2019-2024
- Market opportunity by Distribution channel
Customer landscape
Geographic Landscape
- Geographic segmentation
- Geographic comparison
- Europe Market size and forecast 2019-2024
- North America Market size and forecast 2019-2024
- APAC Market size and forecast 2019-2024
- MEA Market size and forecast 2019-2024
- South America Market size and forecast 2019-2024
- Key leading countries
- Market opportunity by geography
- Market drivers
- Market challenges
- Market trends
Vendor Landscape
- Vendor landscape
- Landscape disruption
Vendor Analysis
- Vendors covered
- Market positioning of vendors
- Club House Italia Spa
- Giorgio Armani Spa
- Herman Miller Inc.
- Knoll Inc.
- Minotti Spa
- MUEBLES PICO SA
- Natuzzi Spa
- Opera Contemporary
- Reflex Spa
- Rugiano Srl
Appendix
- Scope of the report
- Currency conversion rates for US$
- Research methodology
- List of abbreviations
About Us
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.
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