Industry Background:
The growing building construction industry and increasing disposable income levels have increased the demand for door furniture. Door furniture refers to the class of items, which possess the physical vibe of a house. The developing requirement for moving and settling down has prompted an upsurge in the interest of home furnishings. According to the research, The U.S. demand for furniture is expected to reach USD 68.8 billion in 2022, growing at an annual growth rate of 2.6% from USD 60.5 billion in 2017. Expanding interest in keen furniture is additionally extended to contribute toward the development of the worldwide door furniture market fundamentally.
According to AMA Research, the market for Door Furniture is expected to register a CAGR of 4.8% during the forecast period to 2030. This growth is primarily driven by Increasing Disposable Income and Affordability & New Designs
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Attributes | Details |
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Study Period | 2018-2030 |
Base Year | 2023 |
Forecast Period | 2024-2030 |
Volume Unit | Million Units |
Value Unit | USD (Million) |
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 |
The Home Furnishings sector in the
region has been increasing at a sustainable rate and further growth is expected to be witnessed over the forecast period, owing to the robust investments and expansion in production facilities in the region. Major Vendors, such as Overly Door Co.(United States), Leed Himmel Inc. (United States), XTO, Inc. (United States), Acoustical Surfaces (United States), ArtUSA Noise Control Products (United States), Jesco Industries (United States), Tarps Now (United States), Steelcase Inc. (United States), La-Z-Boy Incorporated (United States), Brown Jordan International, Inc. (United States), Williams-Sonoma, Inc. (United States) and Gloster furniture GmbH (Germany), etc have either set up their manufacturing facilities or are planning to start new provision in the dominated region in the upcoming years.
Key Developments in the Market:
In October 2020, ASSA ABLOYacquired Olimpia Hardware to expand its reach in Latin America and the Caribbean. With this acquisition, the company aims to cater to the growing demand for glass and aluminum products.
In January 2022, Emtek launched a dedicated product line for door hardware and accessories that offer endless customization options and ease of assembly. The new product launch includes cabinet hardware, lever, and door knob.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.
Regulatory Insights:
According to Government of United Kingdom, “The Furniture and Furnishings (Fire Safety) Regulations 1988 (amended 1989, 1993 and 2010) are UK law and are designed to ensure that upholstery components and composites used for furniture supplied in the UK meet specified ignition resistance levels and are suitable labelled”.
Influencing Trend:
Rising Replacement of Aging Infrastructure across the World
Market Growth Drivers:
Increasing Disposable Income and Affordability & New Designs and Change in Consumer Buying Behavior Owing to Transformation in Living Styles Worldwide
Challenges:
Rising Cost and Necessity to Enhance Supply Chain Visibility and Efficiency
Restraints:
Stringent Government Regulation in Various Coutries
Opportunities:
Growing Demand from Emerging Market such a China, India and Others
AMA Research follows a focused and realistic research framework that provides the ability to study the crucial market dynamics in several regions across the world. Moreover, an in-depth assessment is mainly conducted by our analysts on geographical regions to provide clients and businesses the opportunity to dominate in niche markets and expand in emerging markets across the globe. This market research study also showcases the spontaneously changing Vendors landscape impacting the market's growth. Furthermore, our market researchers extensively analyze the products and services offered by multiple players competing to increase their market share and presence.
Data Sources of Door Furniture Market Study
Primary Collection: InMail, LinkedIn Groups, Survey Monkey, Google, and Other professional Forums are some of the mediums utilized to gather primary data through key industry participants and appointees, subject-matter experts, C-level executives of Door Furniture Industry, among others including independent industry consultants, experts, to obtain and verify critical qualitative commentary and opinion and quantitative statistics, to assess future market prospects.
The primary interviews and data collected as per the below protocols: By Designation: C-Level, D-Level, Others
By Company Type: Tier 1, Tier 2, Tier 3
Secondary Data Sources such as Annual reports, Press releases, Analyst meetings, Conference calls, Investor presentations, Management statements, and SEC filings of Door Furniture players along with Regulatory Sites, Association, World bank, etc were used as sources secondary set of data.
Customization in the Report
AMA Research features not only specific market forecasts but also includes significant value-added commentary on:
- Market Trends
- Technological Trends and Innovations
- Market Maturity Indicators
- Growth Drivers and Constraints
- New Entrants into the Market & Entry/Exit Barriers
- To Seize Powerful Market Opportunities
- Identify Key Business Segments, Market Proposition & Gap Analysis
Against this Challenging Backdrop, Door Furniture Study Sheds Light on
The Door Furniture Market status quo and key characteristics. To end this, Analysts at AMA organize and took surveys of the Door Furniture industry Vendors. The resultant snapshot serves as a basis for understanding why and how the industry can be expected to change.
Where Door Furniture industry is heading and what are the top priorities. Insights are drawn from financial analysis, surveys, and interviews with key executives and industry experts.
How every company in this diverse set of Vendors can best navigate the emerging competition landscape and follow a strategy that helps them position to hold the value they currently claim or capture the new addressable opportunity.