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By 2026, North America Furniture Market Share to Earn USD 104.73 Bn

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According to the Graphical Research new growth forecast report titled North America Furniture Market share will surpass USD 104.73 billion by 2026. In North America, the U.S. has been a major growth driver for the furniture sector on a global level. The economic recovery, favorable demographic trend, growing immigration, and the strengthening of the Canadian Dollar will offer a positive outlook for the furniture industry in the region over the forecast timeline. The major growth initiative by regional players is to outsource their production operations from countries having low labor costs since low-wage Asian suppliers have a greater production capacity and can achieve economies of scale. However, the furniture industry has witnessed a decline in the regional economy owing to the U.S. and Canada’s overdependency on imports from these suppliers

The furniture industry is fundamentally an assembly industry implementing various raw materials such as metal, wood, aluminum, fabrics, plastics, glass, and leather along with a few mechanical components. All the segments except mattresses use wood or wood panels as an input, representing a substantial share of raw materials used. Wood is expected to lead the North America furniture market over the years to come. Most commonly used furniture-grade wood include Teak, Birch, redwood, Mahogany, Cedar, Fir, etc. Government concerns regarding sustainable forest management will impact the overall price trend in coming years. Increasing environmental issues associated with deforestation and global warming may hinder material supply and demand outlook.

The commercial segment has observed a rapid growth over the last few years owing to the growing demand for office furniture. Moreover, the recovering construction sector in the region is expected to fuel the product demand. Commercial furniture is a market with low import penetration. This is partly owing to the fact that most of the office furniture purchases are often made by contractors, who are developing the project with the manufacturer, providing an advantage to national companies.

New product development is a key strategy for industry participants due to the market’s competitiveness. For instance, in October 2016, Herman Miller launched a new Aeron chair with a new concept, which does not use padded throne. With this launch, the company wants to reinforce its worldwide leadership in workplace innovations and high-performance seating.

The North America Furniture market research report includes in-depth coverage of the industry with estimates & forecast in terms of revenue in USD million from 2016 to 2026 for the following segments:

Market Share, By Material

  • Plastic
  • Wood
  • Metal
  • Others

Market Size, By Application

  • Residential
    •   Upholstered furniture
    •   Non-upholstered furniture
    •   Bedroom
    •   Kitchen Cabinet
    •   Dining Room
    •   Blinds & Shades
    •   Mattresses
    • Others
  • Commercial
    •   Business/Office
    •   Educational
    •   Healthcare
    •   Hospitality
    • Others

The above information is provided on a country basis for the following:

North America

  • U.S.
  • Canada