What is Indoor Luxury Furniture Market Scope?
Indoor luxury furniture is used in various applications such as domestic furniture, office/corporate furniture, hotel furniture, among others. The demand for luxury furniture has increased, due to the rising demand for the furniture industry. For instance, as per an article published by India Brand Equity Foundation, the organized furniture industry is expected to grow by 20% every year in India. Hence, the rising demand for the furniture industry will affect the growth of the market in the future.
The Indoor Luxury Furniture market study is being classified by Type (Tables, Chairs & Sofas, Bedroom, Cabinets, Accessories and Others), by Application (Residential {Upholstered Furniture, Non-Upholstered Furniture, Bedroom, Kitchen Cabinet, Dining Room, Others} and Commercial {Business/Office, Educational, Others}) and major geographies with country level break-up.
The global indoor luxury furniture market is highly fragmented and the major players have used various strategies such as new product launches, expansions, agreements, joint ventures, partnerships, acquisitions, and others to increase their footprints in this market Analysts at AMA predicts that Vendors from Italy and United States will contribute to the maximum growth of Global Indoor Luxury Furniture market throughout the predicted period.
Hooker Furniture Corporation (United States), Knoll, Inc. (United States), Kimball International (United States), Molteni Group (Italy), Poltrona Frau (Italy), Roche Bobois (France), Scavolini S.p.A. (Italy), B&B Italia (Italy), Minotti S.p.A. (Italy) and Ligne Roset (France) are some of the key players profiled in the study. Additionally, the Vendors which are also part of the research are Luxury Living Group (United States), Senyuan Furniture Group Co. Ltd. (China), Fitz Hansen (Denmark), Interi Furniture (China), Turri S.r.l. (Italy), Boca do Lobo (Portugal) and Muebles Pico (Spain).
Segmentation Analysis
Analyst at AMA have segmented the market study of Global Indoor Luxury Furniture market by Type, Application and Region.
On the basis of geography, the market of Indoor Luxury Furniture has been segmented into South America (Brazil, Argentina, Rest of South America), Asia Pacific (China, Japan, India, South Korea, Taiwan, Australia, Rest of Asia-Pacific), Europe (Germany, France, Italy, United Kingdom, Netherlands, Rest of Europe), MEA (Middle East, Africa), North America (United States, Canada, Mexico).
According to Government of United Kingdom, “The Furniture and Furnishings (Fire Safety) Regulations 1988 (amended 1989, 1993 and 2010) are UK law and are designed to ensure that upholstery components and composites used for furniture supplied in the UK meet specified ignition resistance levels and are suitable labelled”.
Influencing Market Trend
- Technology Advancement regarding Indoor Luxury Furniture
Market Drivers
- Rising Disposable Income and Affordability & New Designs
- Change in Consumer Buying Behavior Owing to Transformation in Living Styles Worldwide
- Rising Replacement of Aging Infrastructure across the World
Opportunities
- Changing Consumer Demographics as well as Tourism & hospitality Industry Growth
- Increasing Demand from Emerging Market such a China, India and Others
Restraints
- Stringent Government Regulation
Challenges
- Limited Availability of Skilled Labor to Meet Fluctuating Consumer Demand
- Rising Cost and Necessity to Enhance Supply Chain Visibility and Efficiency
Key Target Audience
Indoor Luxury Furniture Manufactures, Government Associations, Market Research and Consulting Firms, Government Regulatory Authorities and Others
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