Million Insights
Market Research Released A New Research Report On Global Luxury Furniture
Market - Forecast Up To 2025. Report Provide Overview Of Top Key Players, Share
Analysis, Size, Stake, Progress, Trends And Their Strategic Profiling In The
Market, Comprehensively Analyzing Their Core Competencies, And Drawing A
Competitive Landscape For The Market.
Pune, India: Oct. 31,
2019 - Luxury Furniture Market is
anticipated to reach $28.60 billion by 2022 at a CAGR of 3.7% in the forecast
period. The key factors affecting the growth of this sector is disposable
income. The growth of the luxury furniture sector is directly proportional to
the adoption of e-retailing methods to reduce the operating expenses in sales
& distribution and growth of real estate industry. The real estate sector
has shown a significant slowdown in the 1st half of 2017.
However, the market is expected to grow with the moderate
speed. Development of the real estate industry for commercial as well as the
residential place would push the luxury furniture market forward. Also, the
development is coupled with the change in lifestyle of the consumers,
especially in urban areas due to increase in disposable income. However, the
growth can be hampered by the increasing expenses for a raw material required,
the design of furniture and the lack of skilled workforce.
To Get Sample Report
visit @ https://www.millioninsights.com/industry-reports/luxury-furniture-market/request-sample
By raw material, the luxury furniture market is categorized
into plastic, metal, wood, glass, leather, and others. Mahogany, Teak,
Jackfruit, Cedar and Redwood trees are the primary sources of raw material. The
increase in the cost of materials, such as wood, leather, and stones, may
restrain the market growth.
Consumers are inclined toward eco-friendly furniture due to
the increased environmental awareness. Also, the companies are concerned about
their carbon footprints and now started to offer eco-friendly alternatives
which are possible due to technology and innovative ideas of designers such as
marble, stone, plastic, and metal. Moreover, these materials have high
durability and low maintenance cost.
End-use Insights
Luxury furniture is used for commercial as well as domestic
purpose. The domestic sector contributes nearly two-third of the global luxury
market revenue. In the domestic sector, living and bedroom dominated the rest
of the segments by the returns in 2014 due to the consumers that are specific
in the purchase of exact and precise kind of furniture to give an attractive
and aesthetic look to their bedroom and living room.
Service segment contributes the largest share of the revenue
in the commercial sector. Consumption of luxury furniture in the service sector
is expected to grow at a higher pace to provide a better service experience to
the customers. Gyms, hotels, restaurants install luxury furniture following the
rise in market demand significantly. Modern, as well as Traditional designs,
are receiving admiration thus driving towards the growth in this segment.
To Browse Complete
Report visit @ https://www.millioninsights.com/industry-reports/luxury-furniture-market
Market Segment:
Global Luxury
Furniture Outlook, By Material (Market Revenue in USD Million, 2012 - 2022)
• Wood
• Metal
• Glass
• Leather
• Plastic
• Others
Global Luxury
Furniture Outlook, by End-use (Market Revenue in USD Million, 2012 - 2022)
• Domestic use
• Living
& Bedroom
•
Kitchen
•
Lighting
•
Outdoor
•
Bathroom
• Commercial
use
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