The Global Luxury Furniture Market size was valued at around USD 27.65 billion in 2023 & is projected to reach around USD 41.95 billion by 2030. Along with this, the market is estimated to grow at a CAGR of around 5.67% during the forecast period, i.e., 2024-30. According to MarkNtel Advisors Study.
Global Luxury Furniture Market Opportunity:
Expanding Real Estate Sector to Escalate Market Growth – During the historical years, the consistent growth of the real estate sector, especially in the luxury and upscale property segment, significantly contributed to the increased demand for high-end furniture in both residential and commercial spaces. In addition, the expansion of service-based industries, such as ICT, telecommunication, etc., has widely supported the demand for luxurious furniture during 2019-23. The key factors attributed to the rising service expansion are the growth initiatives of the global economies such as India, China, the UAE, Saudi Arabia, etc., to launch flexible FDI policies, taxation relations, and minimum barriers on entry and exit, with an intent to boost their gross domestic product (GDP) growth. Therefore, global economies are witnessing an accumulation in investments to expand new office spaces & warehouses across numerous regions, which is expected to enhance the luxury furniture industry growth during 2024-2030.
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Key Market Reports Highlights
- Market Dimensions & Projections
- Pricing Evaluation
- Recent Strategic Moves by Companies
- Primary Stakeholders
- Import/Export Trend Analysis
- Competitive Landscape Assessment
- Emerging Opportunities
- Market Trends and Indicators
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Global Luxury Furniture Market Segmentation:
The market report categorizes the market based on different segments and geographical analysis.
Study Timeline:
-Base Year: 2023
-Historical Period: 2019 to 2022
-Forecast Period: 2024 to 2030
- By Type
- Indoor Furniture- Market Size & Forecast 2019-2030, (USD Million)
- Bedroom Furniture- Market Size & Forecast 2019-2030, (USD Million)
- Dining Furniture- Market Size & Forecast 2019-2030, (USD Million)
- Office Furniture- Market Size & Forecast 2019-2030, (USD Million)
- Kitchen Furniture- Market Size & Forecast 2019-2030, (USD Million)
- Living Room Furniture- Market Size & Forecast 2019-2030, (USD Million)
- Outdoor Furniture- Market Size & Forecast 2019-2030, (USD Million)
- Patio Furniture- Market Size & Forecast 2019-2030, (USD Million)
- Rooftop Furniture- Market Size & Forecast 2019-2030, (USD Million)
- Beachfront Furniture- Market Size & Forecast 2019-2030, (USD Million)
- Others (Poolside, Deck Furniture, etc.)- Market Size & Forecast 2019-2030, (USD Million)
- Indoor Furniture- Market Size & Forecast 2019-2030, (USD Million)
- By Type of Furniture
- Bed- Market Size & Forecast 2019-2030, (USD Million)
- Sofa & Couch- Market Size & Forecast 2019-2030, (USD Million)
- Table & Desk- Market Size & Forecast 2019-2030, (USD Million)
- Chair & Stool- Market Size & Forecast 2019-2030, (USD Million)
- Wardrobes & Dresser- Market Size & Forecast 2019-2030, (USD Million)
- Cabinets & Nightstand- Market Size & Forecast 2019-2030, (USD Million)
- Others- Market Size & Forecast 2019-2030, (USD Million)
- By Material
- Wood- Market Size & Forecast 2019-2030, (USD Million)
- Plastic- Market Size & Forecast 2019-2030, (USD Million)
- Leather- Market Size & Forecast 2019-2030, (USD Million)
- Others (Glass, Metal, etc.)- Market Size & Forecast 2019-2030, (USD Million)
- By Distribution Channel
- Direct Sales- Market Size & Forecast 2019-2030, (USD Million)
- Indirect Sales- Market Size & Forecast 2019-2030, (USD Million)
- Online Platform- Market Size & Forecast 2019-2030, (USD Million)
- By End User
- Residential- Market Size & Forecast 2019-2030, (USD Million)
- Offices- Market Size & Forecast 2019-2030, (USD Million)
- Commercial & Retail- Market Size & Forecast 2019-2030, (USD Million)
- Hospitality- Market Size & Forecast 2019-2030, (USD Million)
- Others (Government Agencies, etc.)- Market Size & Forecast 2019-2030, (USD Million)
- By Region
- North America
- South America
- Europe
- The Middle East & Africa
- Asia-Pacific
Competitive Landscape
With strategic initiatives, such as mergers, collaborations, and acquisitions, the leading market companies, including – Cassina S.p.A., Kimball International Inc., Marge Carson, Fendi Casa, Brown Jordan Inc., B&B Italia, Marioni , Boca Do Lobo, Duresta, Bentley Home, Natuzzi, Haworth, Inc., West Elm, Pico Muebles, Maiden Home, Other are looking forward to strengthening their market positions.
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