Entryway Furniture Market Scope
The furniture and homeware business is a strong example of how the housing sector effectively reversed its losses now that the crisis is over. According to published literature, home decoration will improve one's mental health. In certain ways, home decor may have served as a diversion or even an outlet for any pent-up frustrations brought about by months of incarceration at home — similar to bringing a splash of colour to an otherwise monotonous lockdown routine. A good entryway table can be plain, with a smooth surface that serves only to capture keys and wallets. It may also play a larger part in daily life, with cabinets for shoes and baskets for winter gloves. With the home playing such an important role in people's lives and customers' increasing interest in furniture and decor items, the demand for entryway furniture is expected to expand.
The Entryway Furniture market study is segmented by Type (Cabinets & Chests, Coat Racks, Storage Benches, Umbrella Stand & Holders and Others), by Application (Household and Commercial) and major geographies with country level break-up.
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 United States Vendors will contribute to the maximum growth of Global Entryway Furniture market throughout the predicted period.
Safavieh (United States), HD Direct LLC (United States), Godrej (India), Southern Enterprises (United States), HomeSullivan (United States), Simpli Home (United States), Worldwide Homefurnishings (Canada), Prepac (Canada), Linon Home Décor (United States) and Zuo Modern (Canada) are some of the key players that are part of study coverage. Additionally, the Vendors which are also part of the research are Venetian Worldwide (United States), Urban Ladder (India), Home Styles (United States) and MegaHome (Thailand).
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 total available market.
Segmentation Overview
AMA Research has segmented the market of Global Entryway Furniture market by Type, Application and Region.
On the basis of geography, the market of Entryway 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).
Market Leaders and their expansionary development strategies
On 14th March 2019 - TorQuest Partners Announced its Acquisition of Prepac (Canada Based Ready-To-Assemble (RTA) Home Furniture Manufacturer), This Acquisition is Aimed to Enhance TorQuest’s Canadian Market Presence along with Addition of Home Furniture Expertise. and On 15th November, 2020 - Retail Ventures Ltd, a subsidiary of Reliance Industries Ltd (RIL), Acquired Furniture Start-Up Urban Ladder Valued at ₹182-Crore Cash Deal. This Acquisition will Provide Urban Ladder with the Required Funding to Sustain and Grow its Operations in the Existing as Well as New Markets.
On 8th May, 2020 - Godrej Interio launched its latest Range of Affordable Furniture, this New Collection by Godrej Includes Work from Home Essentials Plus, a Range of Entrance, Living Room and Study Room Décor at Budget Rates for its Indian Client Base.
Market Trend
- Home Décor Perceived as Symbol of Status
- Boost in Sales Through E-Commerce Platforms
Market Drivers
- Rising Household Disposable Income
- Increasing Urbanization and Adoption of Urban Life Style
- Growing Number of Luxury Residential Projects
Opportunities
- Surge in Renovation Projects Across Regions
Restraints
- Cleaning and Maintenance Costs
Challenges
- International Shipping
- Fierce Competitive Pressure
Key Target Audience
Entryway Furniture Manufactures, New Entrants and Investors, Entryway Furniture Distributors and Suppliers, Venture Capitalists, Government Bodies, Corporate Entities, Government and Private Research Organizations and Others