Global Hotel Furniture Market Overview:
Hotel Furniture consists of seating (chairs, tables, stools and sofas) and sleeping items used in hotel room or public areas. This furniture is equally important aesthetically as they are considered as a form of decorative art. Materials such as metals, plastics and wood are used to make hotel furniture. Hotels are considered to be a place of luxury and having well-established appealing furniture draws lot of attention
As per latest study released by AMA Research, the Global Hotel Furniture market is expected to see growth rate of 5.24% and may see market size of USD5.3 Billion by 2030.
Attributes | Details |
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Study Period | 2018-2030 |
Base Year | 2023 |
Forecast Period | 2024-2030 |
Historical Period | 2018-2023 |
Unit | Value (USD Billion) |
Customization Scope | Avail customization with purchase of this report. Add or modify country, region & or narrow down segments in the final scope subject to feasibility |
Influencing Trend:
Rising Demand for Green Furniture and Indoor and Outdoor Mingle of Furniture Items
Market Growth Drivers:
Growth in Tourism and Hospitality Sectors and Rise in Number of Luxury Hotels
Challenges:
Fluctuating Customer Demand and Creating High Quality yet Affordable and Accessible Furniture
Restraints:
Fluctuating Raw Materials Prices and Intermittent Demand of Hotel Furniture
Opportunities:
Infrastructural Developments in Emerging Countries and Rising Disposable Income in Emerging Countries
Competitive Landscape:
The global market is highly competitive and consists of a limited number of providers competing. The intense competition, changing consumer spending patterns, demographic trends, and frequent changes in consumer preferences pose significant opportunities for market growth.
Some of the key players profiled in the report are Ashley Furniture [United States], Rooms To Go [United States], Foliot Furniture [Canada], Mattress Firm [United States], Williams-Sonoma [United States], LE-AL Asia [China], Berkshire Hathaway [United States], Laz Boy [United States], American Signature [United States], Sleep Number [United States], Gelaimei Hotel Furniture [China], Fulilai Hotel Furniture Co., Ltd [China], Northland Furniture. [United States], Sleepy's [ United States], Buhler Furniture [Canada], Mingjia Furniture [United States], JL Furnishings [United States] and Telos Furniture [United States]. Additionally, following companies can also be profiled that are part of our coverage like Guangdong Yabo Furniture Industries Co., Ltd. [China], Foshan Zhongsen Furniture Co., Ltd [China], Foshan City Gangnam Furniture Co [China], Henar Hotel Furniture Co., Ltd [China] and Eastmate Hotel Furniture Co., Ltd [China]. Analyst at AMA Research see United States Vendors to retain maximum share of Global Hotel Furniture market by 2030.
Latest Market Insights:
In August 2022, Omnam Group and Mohari Hospitality announced a strategic partnership, aiming for substantial growth in luxury hospitality, food and beverage, and leisure throughout Europe. This partnership includes developments in lifestyle and luxury hospitality, which could involve hotel dining tables.
In December 2023, The Luxury Hotel Group Aman launched its debut furniture line at Design Miami including dining tables.
What Can be Explored with the Hotel Furniture Market Study
Gain Market Understanding
Identify Growth Opportunities
Analyze and Measure the Global Hotel Furniture Market by Identifying Investment across various Industry Verticals
Understand the Trends that will drive Future Changes in Hotel Furniture
Understand the Competitive Scenario
- Track Right Markets
- Identify the Right Verticals
Research Methodology:
The top-down and bottom-up approaches are used to estimate and validate the size of the Global Hotel Furniture market.
In order to reach an exhaustive list of functional and relevant players various industry classification standards are closely followed such as NAICS, ICB, SIC to penetrate deep in important geographies by players and a thorough validation test is conducted to reach most relevant players for survey in Hotel Furniture market.
In order to make priority list sorting is done based on revenue generated based on latest reporting with the help of paid databases such as Factiva, Bloomberg etc.
Finally the questionnaire is set and specifically designed to address all the necessities for primary data collection after getting prior appointment by targeting key target audience that includes New Entrants/Investors, Venture Capitalists and Private Equity Firms, Analysts and Strategic Business Planners, Hotel Furniture Manufacturers, Suppliers and Distributors, Government Regulatory and Research Organizations, Investment Research Firms / Associations and End-Use Industries.
This helps us to gather the data related to players revenue, operating cycle and expense, profit along with product or service growth etc.
Almost 70-80% of data is collected through primary medium and further validation is done through various secondary sources that includes Regulators, World Bank, Association, Company Website, SEC filings, OTC BB, USPTO, EPO, Annual reports, press releases etc.