About Hardwood Furniture
Harwood Furniture is the furniture made up of wood from broad-leafed trees, generally, those trees who lose leaves in winter including oak, ash, cherry, walnut, and others. The hardwood are majorly preferred for furniture construction because of its softwood ability and also because of its strength and stability. With the growth in interior decoration trends and rising concern from residential sector for old-style furniture. These create huge strong potential in future for furniture providers. There is a small downturn in the United States furniture market is impacting on the whole furniture market. These kinds of events are affecting slightly to the whole market. But Hardwood furniture market is having a stronghold in the United Kingdom due to the high adoption rate.
Attributes | Details |
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Study Period | 2018-2030 |
Base Year | 2023 |
Unit | Value (USD Million) |
The global hardwood furniture market is highly competitive and consists of some key players. In terms of market share, few of the key players presently dominate the global market. These market players are leveraging on strategic collaborative creativities to intensification their market share and escalation their profitability. Analyst at AMA Research estimates that United States Vendors will contribute the maximum growth to Global Hardwood 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.
Bernhardt (United States), Dyrlund (Denmark), Leggett & Platt (United States), Flexsteel Industries (United States), Driade (Italy), Tropitone Furniture (United States), Skram Furniture (United States), Huafeng Furniture (China), Knoll (United States) and Flou (Italy) are some of the key players that are part of study coverage. Additionally, the Vendors which are also part of the research coverage are Butlerwoodcrafters (United States), Anrei (Austria) and Minotti (Italy).
Segmentation Overview
AMA Research has segmented the market of Global Hardwood Furniture market by Type (Pure Hardwood Furniture and Imitation Hardwood Furniture), Application (Household Use and Commercial Use) and Region.
On the basis of geography, the market of Hardwood 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 Sales Channels will boost the Hardwood Furniture market. Additionally, the rising demand from SMEs and various industry verticals gives enough cushion to market growth.
Influencing Trend:
Growing Demand for Engineered Timber and Increased Import Transportation of Raw Wood
Market Growth Drivers:
Growing Demand Because Of It Can Be Designed As Per the Demand and Custom Specifications, Rising Adoption Residential & Non-Residential Construction and Rising Purchasing Behaviour and Changing Consumer Preferences in Interior Decor in Emerging Economies
Challenges:
Rising Environmental Challenges Impacting the Demand for Wooden Bi-Products
Restraints:
Rising Market Share by Substitutes Such As Natural Wood, Plastic, PVC and Many Others and Changes in Wood and Other Raw Materials Prices
Opportunities:
Rising Stringent Government Regulations against Substitutes Including Conventional Wood and Plastic or PVC and Advancement in Home Furniture Industry Will Generate Huge Demand
Market Leaders and their expansionary development strategies
In Sep 2019, Patrick Industries announced the acquisition of G.G. Schmitt & Sons. This agreement shows the strategic initiatives and capital allocation strategy. Through this, the company strengthens marine customer relationships and high-quality product solutions and enhancement customer service.
In Jan 2019, Oak Furniture announced to open its retail shops in the United States location. The company is the UK’s leading retailer of solid hardwood furniture. The company is aiming to cut down the middleman for the United States region and provide furniture at affordable prices.
Key Target Audience
Venture Capitalists and Private Equity Firms, New Entrants/Investors, Analysts and Strategic Business Planners, Hardwood Furniture Manufacturers, Suppliers and Distributors, Raw Material Suppliers, Government Regulatory and Research Organizations and End-Use Industries
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.