Wood Furniture Market Size, Wood Furniture Industr

Wood Furniture Market - Global Outlook and Forecast 2017-2023

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The global wood furniture market research report provides detailed segmentation and market size of the market by wood furniture type (hardwood and Softwood) by distribution channels (retail, mass market players, furniture store, monobrand furniture stores, Online) by end-user (commercial and residential) by Geography (APAC, Europe, North America, and Rest of World)

The major leaders in this market are Ashley Furniture, IKEA, Laura Ashley, Duresta Upholstery, Giovanni Visentin, and Williams-Sonoma. Many players are expected to expand their presence worldwide during the forecast period, especially in the fast-developing countries in APAC to gain more market share. North America to remain the dominant market and revenue share of APAC region will cross the revenue of Europe competing for the second position. 

The global market is expected to witness growth during the forecast period in both residential and commercial end-user segment. Rise in number of people buying wood furniture can also be attributed to changing lifestyles that are backed by an increase in per capita GDP.The Global Wood Furniture market is expected to cross $74 billion growing impressively at a CAGR more than 2.6% during 2016-2023.

  Wood Furniture Market at a Glance

Global Wood Furniture Market Size, Share 2023

 

The market research report provides a holistic view of the global market, the companies involved in the market, and the factors driving its growth. It also provides information on some of the latest trends that have started to surface and are likely to become strong market driving forces over the next five years. This report also provides the Porter’s Five Forces analysis along with a description of each force and its impact on the market. Further, the report also provides complete value chain analysis of the global market.

Wood Furniture Market: Key Vendor Analysis

High competition and raw material acquisition costs will intensify the price war among the vendors

The major leaders in this market are Ashley Furniture, IKEA, Sears Holdings, Steelcase, and Williams-Sonoma. There are other vendors providing products with similar specifications at low prices. High competition and raw material acquisition costs will intensify the price war among vendors during the forecast period. Major vendors continually compete among themselves for the leading position in the market, with occasional spurts of competition coming from other local vendors.

Major vendors profiled in the report are Ashley Furniture , Duresta Upholstery , IKEA, Giovanni Visentin, Laura Ashley, Williams-Sonoma,

Other vendors include Amazon.com, Allied Trade Group, Costco, Godrej & Boyce, Herman Miller, HNI, J.C. Penny, Kimball International, Seers Holdings, Target Corporation, Tesco, Walmart, Wayfair.

Wood Furniture Market Dynamics

Advantages of Wood Furniture over traditional manufacturing to drive the growth

Rise in demand for luxury furniture, growth in real estate industry, and  increased in millennials population are the top trends that are going to propel the market growth during the forecast period. Furthermore, ability of vendors to increase their marketing budgets and rapidly growing urban population will boost the market growth.  Use of  low cost furniture in APAC, preference of wood due to several features as compared to other materials, growth in small-sized houses, growth in tourism and hospitality industry are the key factors that are going to boost global wood furniture market.

Wood Furniture Market: Segmental Overview

Residential Wood Furniture Market expected to be the major revenue contributor.

Hardwood is expected to continue to lead the global market during the forecast period as direct application of softwood has limited options. The softwood market segment is expected to post a healthy CAGR and grow at a fast pace during the forecast period 2016-2023.

High existing residential consumer base and promising growth in housing sector as a result of gain in consumer confidence is the reason that residential segment is the highest contributor to this market. The contribution from the commercial segment is also expected to rise as the working population increases as it would lead to the construction of new offices across the globe.

Wood Furniture Market: Geographical Analysis

APAC region to overtake Europe and become second largest market after North America

In 2016, North America was the largest market followed by Europe. The region will continue to be the dominant market accounting for more than 37% revenue share. However, the growth in wood furniture revenue is expected to decline in North America and Europe due to market saturation and APAC is expected grow at the highest rate during the forecast period. Revenue from APAC and RoW is expected to grow at higher compounded annual growth rate as compared to that of the global market.

Global wood furniture market to exceed $ 74 billion by 2023.

Countries like US, UK, Germany, China, and Australia are the biggest markets for wood furniture. Growth in working population across the major markets in the world would lead to a rise in demand for wood furniture. Rise in awareness toward preservation of forests and rise in working population in major markets are the latest trends that is going to boost the wood furniture market growth.

Wood Furniture is referred to any movable objects made of wood that add to the comfort of living or working in residential and commercial spaces. Wood furniture is used in residential and commercial spaces to add to the comfort of individuals using the place. It also adds to the aesthetic value of the place which is why wood furniture is designed in various innovative looks to serve not only the purpose of relaxation but also enhance the ambience.

 

  Wood Furniture Market Segmentation       

                                     

Report Timeline

  • Base Year:                  2016  
  • Forecast Year:            2017–2023 

Major vendors profiled in the report are as following:

  • Ashley furniture
  • Duresta Upholstery
  • IKEA
  • Giovanni Visentin
  • Laura Ashley
  • Williams-Sonoma

Other vendors include Amazon.com, Allied Trade Group, Costco, Godrej & Boyce, Herman Miller, HNI, J.C. Penny, Kimball International, Sears Holdings, Target Corporation, Tesco, Walmart, Wayfair.

Scope of the Report

The report includes a comprehensive study of market drivers, trends, and restraints of the global Wood Furniture market. It analysis the market segments in details and provides the revenue forecast for the period 2016-2022. Also, the report profiles the leading vendors in the market and other prominent vendors.

Sales of major Wood Furniture vendors were aggregated to arrive at an estimate of the market size in terms of volume. The same approach is used to calculate the market size in terms of revenue. An estimated 85–90% of vendors’ capacities are mapped and considered in the calculation.

The report provides the analysis of the key segments of the market by product, end-user, geography, and vendors. It provides a detailed analysis of revenue from various segments:

Product Types

  • Hardwood
  • Softwood

End-users

  • Residential
  • Commercial

Distribution Channels

  • Retail
    • Mass market player
    • Furniture stores
    • Monobrand furniture stores
  • Online

Major Geography

  • APAC
  • Europe
  • North America
  • RoW

Key Countries

  • Canada
  • China
  • France
  • Germany
  • India
  • US

 

1          Research Methodology

2          Research Objectives

3          Research Process

4          Report Coverage

4.1       Market Definition

4.2       Base Year

4.3       Scope of Study

4.3.1   Market Segmentation by End-User

4.3.2   Market Segmentation by Product

4.3.3   Market Segmentation by Geography

 

5          Report Assumptions & Caveats

5.1       Currency Conversion rate

 

6          Market at A Glance

7          Introduction

7.1       Segmentation by Product

7.1.1   Hardwood

7.1.2   Softwood

7.2       Segmentation by End-users

7.2.1   Residential Segment

7.2.2   Commercial Segment

7.3       Macroeconomic Factors Driving Market Growth

7.3.1   Per Capita GDP in Developing Markets

7.3.2   Dual-income Households in Developed Markets

 

8          Market Dynamics

8.1       Market Growth Enablers

8.1.1   Exceptional Features of Wood Furniture Making Popular Choice

8.1.2   Low-cost Furniture in APAC

8.1.3   Growth in Small-sized Houses

8.1.4   Growth in Tourism and Hospitality Industry

8.1.5   Change in Purchasing Behavior of Customers in Developed and Developing Countries

8.1.6   Increased Push for Digital Economy in Developing Economies

8.2       Impact of Market Growth Enablers

8.3       Impact of Market Growth Enablers on Geographies

8.4       Market Restraint

8.4.1   Complex Supply Chain Operations

8.4.2   Highly Fragmented Market

8.4.3   Limitations Related to Skilled Labor

8.4.4   Variation in Preferences across Geographies

8.4.5   Rise in Raw Material Acquisition Costs for Vendors

8.5       Impact of Market Restraints

8.6       Impact of Market Restraints on Geographies

8.7       Market Opportunities & Trends

8.7.1   Rise in Demand for Luxury Furniture

8.7.2   Growth in Real Estate Industry

8.7.3   Millennials Expected to Drive Market Growth

8.7.4   Ability of Vendors to Increase their Marketing Budgets

8.7.5   Rise in Urban Population

8.7.6   Increase in Working Population in Major Markets

8.7.7   Rise in Awareness toward Forest Preservation

8.8       Impact of Market Trends & Opportunities

8.9       Impact of Market Trends & Opportunities on Geographies

 

9          Global Wood Furniture Market

9.1       Market Overview

9.1.1   Market Size & Forecast

9.2       Porter’s Five Forces Analysis

9.2.1   Threat of New Entrants

9.2.2   Bargaining Power of Suppliers

9.2.3   Bargaining Power of Buyers

9.2.4   Threat of Substitutes

9.2.5   Competitive Rivalry

 

10        Wood Furniture Market- By Product

10.1    Market Overview

 

11        Wood Furniture Market- By End-Users

11.1    Market Overview

 

12        Wood furniture Market – By Geography

12.1    Market Overview

 

13        North America: Wood Furniture Market

13.1    Market Size & Forecast

13.2    Leading Trend, ENABLERS and Restraint

13.3    Key Countries

13.4    US

13.4.1 Market Size & Forecast

13.4.2 Leading Trend, Enablers, and Restraint

13.5    Canada

13.5.1 Market Size & Forecast

13.5.2 Leading Trend, Enablers, and Restraint

 

14        Europe: Wood Furniture Market

14.1    Market Size & Forecast

14.2    Leading Trend, Driver, and Restraint

14.3    Key Countries

14.4    Germany

14.4.1 Leading Trend, Enablers, and Restraint

14.5    France

14.5.1 Leading Trend, Enablers, and Restraint

 

15        APAC: Wood Furniture Market

15.1    Market Size & Forecast

15.1.1 Leading Trend, Enablers, and Restraint

15.2    Key Countries

15.3    China

15.3.1 Leading Trend, Enablers, and Restraint

15.4    India

15.4.1 Leading Trend, Enablers, and Restraint

16        RoW: Wood Furniture Market

16.1    Market Size & Forecast

16.2    Leading Trend, Enablers, and Restraint

 

17        Competitive Landscape

17.1    Competition overview

 

18        Key Company Profiles

18.1    Ashley Furniture Industries Inc.

18.1.1 Business Overview

18.1.2 Product Offerings

18.1.3 Strategy

18.1.4 Strength

18.2    Duresta Upholstery Ltd.

18.2.1 Business Overview

18.2.2 Product Offerings

18.2.3 Strategy

18.2.4 Strength

18.3    IKEA Group

18.3.1 Business Overview

18.3.2 Product Offerings

18.3.3 Strategy

18.3.4 Strength

18.4    Giovanni Visentin S.R.L

18.4.1 Business Overview

18.4.2 Product Offerings

18.4.3 Strategy

18.4.4 Strength

18.5    Laura Ashley PLC

18.5.1 Business Overview

18.5.2 Product Offerings

18.5.3 Strategy

18.5.4 Strength

18.6    Williams-Sonoma Inc.

18.6.1 Business Overview

18.6.2 Product Offerings

18.6.3 Strategy

18.6.4 Strength

 

19        Other Prominent Companies

19.1    Amazon.com Inc.

19.1.1 Business Overview

19.1.2 Product Offerings

19.2    Allied Trade Group Inc.

19.2.1 Business Overview

19.2.2 Product Offerings

19.3    Costco Wholesale Corp.

19.3.1 Business Overview

19.3.2 Product Offerings

19.4    Godrej & Boyce Manufacturing Company Ltd.

19.4.1 Business Overview

19.4.2 Product Offerings

19.5    Herman Miller Inc.

19.5.1 Business Overview

19.5.2 Product Offerings

19.6    HNI Corp.

19.6.1 Business Overview

19.6.2 Product Offerings

19.7    J.C. Penny Company Inc.

19.7.1 Business Overview

19.7.2 Product Offerings

19.8    Kimball International Inc.

19.8.1 Business Overview

19.8.2 Product Offerings

19.9    Sears Holdings Corp.

19.9.1 Business Overview

19.9.2 Product Offerings

19.1    Steelcase Inc.

19.10.1 Business Overview

19.10.2 Product Offerings

19.11  Target Corp.

19.11.1 Business Overview

19.11.2 Product Offerings

19.12  Tesco PLC

19.12.1 Business Overview

19.12.2 Product Offerings

19.13  Walmart Stores Inc.

19.13.1 Business Overview

19.13.2 Product Offerings

19.14  Wayfair Inc.

19.14.1 Business Overview

19.14.2 Product Offerings

 

20        Report Summary

20.1    Key Takeaways

20.2    Strategic Recommendations

20.3    Qualitative Summary of Global Wood Furniture Market

20.5    Quantitative Summary of Global Wood Market 2016-2022

 

21        Appendix

21.1    List of Abbreviations

           

List of Exhibits

Exhibit 1         Segmentation of Wood Furniture Market

Exhibit 2         Types of Wood Furniture by Usage

Exhibit 3         Dual-income Households in US (1975 Vs. 2015)

Exhibit 4         Global Travel and Tourism Industry by Revenue ($ trillion)

Exhibit 5         Increasing Influence of Internet in Buyers’s Preference

Exhibit 6         Contribution of Mobile Internet and IoT in GDP Growth in APAC by 2025

Exhibit 7         Global Urban and Rural Human Population (million)

Exhibit 8         Working Population in Major Countries of Wood Furniture Market (in million)

Exhibit 9         CAGR of Working Population in Major Countries

Exhibit 10       Global Wood Furniture Market ($ billion)

Exhibit 11       Five Forces Analysis

Exhibit 12       Global Wood Furniture Market by Product ($ billion)

Exhibit 13       Global Wood Furniture Market by Product (revenue share)

Exhibit 14       Global Hardwood Market ($ billion)

Exhibit 15       Global Softwood Market ($ billion)

Exhibit 16       Comparison of Annual Growth Rates by Product

Exhibit 17       Comparison of CAGR by Product 2016−2023

Exhibit 18       Global Wood Furniture Market by End-users ($ billion)

Exhibit 19       Global Wood Furniture Market by End-users (revenue share)

Exhibit 20       Global Wood Furniture Market by Residential Segment ($ billion)

Exhibit 21       Global Wood Furniture Market by Commercial Segment ($ billion)

Exhibit 22       Comparison of Annual Growth Rate by End-users

Exhibit 23       Comparison of CAGR by End-users 2016−2023

Exhibit 24       Global Wood Furniture Market by Geography 2016 and 2023 (Market Share)

Exhibit 25       Global Wood Furniture Market by Geography ($ billion)

Exhibit 26       Global Wood Furniture Market by Geography (Revenue share)

Exhibit 27       Comparison of Annual Growth Rates by Geography

Exhibit 28       Comparison of CAGR by Geography 2016−2023

Exhibit 29       Global Wood Furniture Market by Key Countries ($ billion)

Exhibit 30       Global Wood Furniture Market by Key Countries (Revenue share)

Exhibit 31       Comparison of Annual Growth Rates by Key Countries

Exhibit 32       Comparison of CAGR by Key Countries 2016−2023

Exhibit 33       Wood Furniture Market in North America ($ billion)

Exhibit 34       Annual Saving Ratio of US

Exhibit 35       Change in US GDP Growth Rate

Exhibit 36       Wood Furniture Market in North America by Key Countries (regional revenue share)

Exhibit 37       Wood Furniture Market in US ($ billion)

Exhibit 38       Wood Furniture Market in Canada ($ billion)

Exhibit 39       Wood Furniture Market in Europe ($ billion)

Exhibit 40       Changes in Per Capita Disposable Income in EU Countries

Exhibit 41       Change in Annual Household Disposable Income in Europe (%)

Exhibit 42       Annual Saving Ratio of Western European Countries

Exhibit 43       Wood Furniture Market in Europe by Key Countries (regional revenue share)

Exhibit 44       Wood Furniture Market in Europe by Key Countries (global revenue share)

Exhibit 45       Wood Furniture Market in Germany ($ billion)

Exhibit 46       Wood Furniture Market in France ($ billion)

Exhibit 47       Wood Furniture Market in APAC ($ billion)

Exhibit 48       Gross Domestic Savings of China, India, and South Korea (percentage of income)

Exhibit 49       Increase in Urban Population in APAC (Overall Population %)

Exhibit 50       Wood Furniture Market in APAC by Key Countries (regional revenue share)

Exhibit 51       Wood Furniture Market in APAC by Key Countries (global revenue share)

Exhibit 52       Wood Furniture Market in China ($ billion)

Exhibit 53       Wood Furniture Market in India ($ billion)

Exhibit 54       Wood Furniture Market in RoW ($ billion)

             

List of Tables        

Table 1            Key Geographies Definition

Table 2            Key Caveats

Table 3            Currency Conversion Rate

Table 4            Real GDP per Capita Growth in Various Developing Countries 2013–2015

Table 5            Digitization Plans of Select Countries in APAC

Table 6            YOY Impact of Market Growth Enablers

Table 7            Impact of Market Growth Enablers on Geographies

Table 8            YOY Impact of Market Restraints

Table 9            Impact of Market Restraints on Geographies

Table 10         YOY Impact of Market Trends & Opportunities

Table 11         Impact of Market Trends & Opportunities on Geographies

Table 12         Qualitative Summary of Global Wood Furniture Market

Table 13         Quantitative Summary of Global Wood Furniture Market by Geography ($ billion)

Table 14         Quantitative Summary of Global Wood Furniture Market by Geography ($ billion)

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