Luxury High End Furniture Market Scope
Luxury furniture comprises of moveable parts that highlight the best of premium craftsmanship and design from a certain era. They are commonly made of metal, glass, wood, and other materials, and they enhance the aesthetic value of a structure such as a home, hotel, workplace, or other indoor or outdoor location. The growth in disposable income, globalization, and a substantial population migration to metropolitan regions throughout the world have all benefited the luxury furniture industry. Concerned about their carbon footprints, furniture businesses in the luxury furniture industry have begun to provide environmentally friendly alternatives. Furniture designers are becoming more inventive and adventurous with their designs as technology advances. Low toxicity is also a top concern for clients looking for environmentally friendly furniture since they wish to minimise their negative health effect.
Attributes | Details |
---|
Study Period | 2018-2030 |
Base Year | 2023 |
Unit | Value (USD Million) |
Key Companies Profiled | Duresta Upholstery Ltd. (United Kingdom), Muebles Pico (Spain), Valderamobili s.r.l. (Italy), Giovanni Visentin (Italy), Scavolini (Italy), Laura Ashley Holding Plc (United Kingdom), Iola Furniture Ltd. (New Zealand), Nella Vetrina (Italy), Henredon Furniture Industries Inc. (United States) and Turri S.r.l. (Italy) |
CAGR | 5.3% |
The companies are exploring the market by adopting mergers & acquisitions, expansions, investments, new service launches and collaborations as their preferred strategies. The players are exploring new geographies through expansions and acquisitions to avail a competitive advantage through combined synergies. Research Analyst at AMA estimates that Italian Vendors will contribute to the maximum growth of Global Luxury High End Furniture market throughout the predicted period.
Duresta Upholstery Ltd. (United Kingdom), Muebles Pico (Spain), Valderamobili s.r.l. (Italy), Giovanni Visentin (Italy), Scavolini (Italy), Laura Ashley Holding Plc (United Kingdom), Iola Furniture Ltd. (New Zealand), Nella Vetrina (Italy), Henredon Furniture Industries Inc. (United States) and Turri S.r.l. (Italy) are some of the key players that are part of study coverage. Additionally, the Vendors which are also part of the research are Knoll, Inc. (United States), Littlejohn & Co. (United States), Levine Contract Furniture Group (United States) and Ralph Pucci International. (United States).
About Approach
The research aims to propose a patent-based approach in searching for potential technology partners as a supporting tool for enabling open innovation. The study also proposes a systematic searching process of technology partners as a preliminary step to select the emerging and key players that are involved in implementing market estimations. While patent analysis is employed to overcome the aforementioned data- and process-related limitations, as expenses occurred in that technology allows us to estimate the market size by evolving segments as target market from the total available market.
Segmentation Overview
The study have segmented the market of Global Luxury High End Furniture market by Type and Region with country level break-up.
On the basis of geography, the market of Luxury High End 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).
region held largest market share in the year 2023.
Market Leaders and their expansionary development strategies
On 16th October, 2020 - Luxury Living Group Launched FENDI and Trussardi Casa. The 2020 FENDI Casa Collection Includes a Set of Coffee and Side Tables Named the Boogie Series, As Well As A Curving Margaret Armchair. Whereas The 2020 Trussardi Casa Collection Includes an Oval Armchair in Tru Damas Fabric, Deven Chest of Drawers, etc.
Influencing Trend:
Home Décor Perceived as Symbol of Status and Boost in Sales Across Online Platforms
Market Growth Drivers:
Rising Household Disposable Income, Increasing Urbanization and Adoption of Urban Life Style and Growing Number of Luxury Residential Projects
Challenges:
International Shipping and Fierce Competitive Pressure
Restraints:
Cleaning and Maintenance Costs
Opportunities:
Surge in Renovation Projects Across Regions and Surge in Demand for Sustainable Luxury Furniture
Key Target Audience
Luxury High End Furniture Manufactures, New Entrants and Investors, Luxury High End Furniture Distributors and Suppliers, Venture Capitalists, Government Bodies, Corporate Entities, Government and Private Research Organizations and Others