About Small Space Furniture
Small Space Furniture is basically furniture that takes up less space and is often transformable, meaning it can serve many purposes. Furniture that saves space is typically more imaginative, has a more contemporary look, and is built to fit into smaller living spaces. Small-space living has become the new standard in today's world. Since much of this furniture is compact, more room for navigation and movement inside the house can be accommodated. Small space furniture is also hailed as a leader in the field of sustainable living. Foldable chairs, retractable and mounted tables, island kitchens, ottomans, foldable kitchens, lightweight coffee tables, wardrobes, portable book shelves, and expanding tables are only a few examples of small space furniture. The small space furniture industry is influenced by rapid urbanisation and real estate demand development. Millennials preferring to live in rented apartments is a growing trend.
Attributes | Details |
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Study Period | 2018-2028 |
Base Year | 2022 |
Unit | Value (USD Million) |
The Market is Highly Competitive with Several global and local players present in the market. Major players are trying Several product innovation and marketing techniques. Also Various major players are focusing on expansion. Analyst at AMA Research estimates that United States Vendors will contribute the maximum growth to Global Small Space Furniture market throughout the forecasted period. Established and emerging Vendors should take a closer view at their existing organizations and reinvent traditional business and operating models to adapt to the future.
IKEA (Sweden), Crate & Barrel (United States), Wooden Street (India), HomeLane (India), West Elm (United States), Godrej Interio (India), Pottery Barn (United States), Ethan Allen (United States) and Urban Outfitters (United States) are some of the key players that are part of study coverage. Additionally, the Vendors which are also part of the research coverage are Expand Furniture (Canada), Apt 2B (United States) and Resource Furniture (United States).
Segmentation Overview
AMA Research has segmented the market of Global Small Space Furniture market by Type (Chairs, Tables, Sofas, Beds and Other) and Region.
On the basis of geography, the market of Small Space 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). If we see Market by Distribution Channel, the sub-segment i.e. Online will boost the Small Space Furniture market. Additionally, the rising demand from SMEs and various industry verticals gives enough cushion to market growth. If we see Market by Material Type, the sub-segment i.e. Metal/Steel will boost the Small Space Furniture market. Additionally, the rising demand from SMEs and various industry verticals gives enough cushion to market growth. If we see Market by End-Use, the sub-segment i.e. Residential will boost the Small Space Furniture market. Additionally, the rising demand from SMEs and various industry verticals gives enough cushion to market growth.
Influencing Trend:
Rising Number of Nuclear Families is Increasing Resulting in Demand for Portable and Space-Saving products, Sustainable and Natural Furniture Materials and Low Seating
Market Growth Drivers:
Growing Urbanization and Rapid Changing Lifestyle of People and Rising Inclination of Customers Towards Modular Furniture
Challenges:
Product Innovation and Presence of Local Players in the market
Restraints:
Fluctuating Prices of Raw Materials
Opportunities:
Growing Infrastructure Investment in Residential and Commercial sector, Growing E-commerce, Hence Easy Availability and Growing Demand of Multi-Functional Furniture
Market Leaders and their expansionary development strategies
Ikea in 2020, Opened 3 Three new stores in three different Countries including India, China and Russia. Alongside investing in new channels and digital formats, IKEA is opening new physical meeting places close to where people, live, work and socialise. The aim is to become more convenient and more affordable for our customers, and more sustainable for our planet.
Key Target Audience
Manufacturers of Small Space Furniture, Suppliers of Small Space Furniture, Wholesalers, Distributors and Retailers of Small Space Furniture, Raw Material Providers, End-Users and Others
About Approach
To evaluate and validate the market size various sources including primary and secondary analysis is utilized. AMA Research follows regulatory standards such as NAICS/SIC/ICB/TRCB, to have a better understanding of the market. The market study is conducted on basis of more than 200 companies dealing in the market regional as well as global areas with the purpose to understand the companies positioning regarding the market value, volume, and their market share for regional as well as global.
Further to bring relevance specific to any niche market we set and apply a number of criteria like Geographic Footprints, Regional Segments of Revenue, Operational Centres, etc. The next step is to finalize a team (In-House + Data Agencies) who then starts collecting C & D level executives and profiles, Industry experts, Opinion leaders, etc., and work towards appointment generation.
The primary research is performed by taking the interviews of executives of various companies dealing in the market as well as using the survey reports, research institute, and latest research reports. Meanwhile, the analyst team keeps preparing a set of questionnaires, and after getting the appointee list; the target audience is then tapped and segregated with various mediums and channels that are feasible for making connections that including email communication, telephonic, skype, LinkedIn Group & InMail, Community Forums, Community Forums, open Survey, SurveyMonkey, etc.