The worldwide furniture market is currently being driven by the booming real estate sector. The growth of the urban population in developing nations is another factor driving the global furniture market. Additionally, people are spending more on pleasant lifestyles due to rising disposable income, which is anticipated to partially create growth opportunities for the global furniture market.
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The highest market share for furniture products is in North America, followed by Europe and Asia Pacific. In terms of market share, the Asia Pacific area is anticipated to surpass the North American furniture industry over the anticipated period. The Asian furniture market is anticipated to grow by double digits in the upcoming years. The Asia Pacific furniture market is anticipated to grow in the future thanks to emerging markets like China and India.
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Low cost furniture producers like China, Vietnam is also driving the furniture market. However, scarcity of skilled labor, better transportation facilities and infrastructure facilities may act as hindrance for the global furniture market.
Booming real estate industry have influence many multinationals to invest in the emerging markets. Some of the major companies operating at the global furniture market are IKEA International Group, Knoll Inc., Steelcase Inc., Masco Corp., Kimball International, Sears Holdings Corp., KOKUYO Furniture Co. Ltd., HNI Corp., Herman Miller Inc., Haworth Inc. and Ashley Furniture Industries Ltd.
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Furniture is a movable object intended to support various human activity such as sleeping, seating, fencing and protection. Furniture is also used to keep or hold the object at proper height for working. Furniture can also be designed and used as decorative object. Furniture is made of various materials such as metal, plastic and wood. Furniture has become part of human life since non-nomadic culture.
The Chinese use uncarved wood and bamboo to manufacture their furniture. Japanese furniture is well known for its minimalist style, extensive use of wood and high-quality craftsmanship on the furniture. Different qualities of woods are used to manufacture different sets of furniture such as hardwoods and softwoods.
Furniture is kept in house or other commercial buildings to make the living and working environment comfortable. There are different types of furniture the people use on daily bases such as tables, chairs, beds, desks, dressers and cupboards. On the bases of material used to manufacture furniture, the global furniture market can be bifurcated into metal, plastic and wood. Major application includes residential and commercial building hotels, motels, hospitals and other similar institution.
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