According to the Graphical Research new growth forecast report titled “North America Wooden Furniture Market size will surpass USD 65 billion by 2026”. The increasing adoption of aesthetically pleasing products in homes is augmenting the demand for wooden furniture in North America.
Hectic consumer lifestyles due to busy working schedules in numerous countries will result in a demand for relaxing home environments. The requirement for a relaxing atmosphere in residential buildings is a crucial factor that would support the North America wooden furniture market growth. The urge to spend quality time with friends & family on weekends and during holidays is another factor that will boost the product demand. Furthermore, several homeowners are focusing on enhancing beauty in living spaces by using modern furniture that will provide stylish dining & seating arrangements.
Rapid socializing trends and a modern lifestyle including dining in balconies or enclosed garden areas, grilling & barbeque events, night parties, or even official meetings are propelling the product demand in the market. The growing usage of free space for backyard lawns or front yards, garden makeovers, backyard gardening, and indoor gardens with contemporary trends in architectural designs are improving residential aesthetics. North American countries have robust traditional residences with large sitting areas and living spaces that require wooden furniture to enhance the aesthetic appeal. The rising need for dining, relaxing, and spending quality time with family & friends is fostering the product demand, bolstering the market size in the future.
Several regulations on the cutting of trees have however exponentially raised the prices of almost all types of woods, directly propelling wooden furniture prices. This rapid surge in furniture prices may act as a barrier in the market growth by 2026.
The North America wooden furniture market from the commercial sector is anticipated to observe a market share of over 35% by 2026. Increasing tourism & travel trends in several countries have attracted an increased number travelers, tourists, and visitors, thus strong supporting market growth. Premium & moderate hotels, cafes, restaurants, and beaches are the key attraction points for visitors in the countries. A major factor that attracts consumers to open cafes and restaurants is attractive furniture. Commercial consumers are specific in choosing and making wooden furniture through contractors and designers. Increasing modern trends and consumer penetration through online platforms have boosted product adoption in the commercial sector. Premium fabric, ease-of-cleaning, and cost-effectiveness are the factors that consumers look for in furniture, generating revenue growth.
Some of the major players functioning in the North America wooden furniture market are Ashley Furniture Industries, Avy Interior Limited Company, Bernhardt Furniture Company, Bassett Furniture Industries, Inc., Bush Industries, Inc., Century Furniture, Casta, Doimo, Ethan Allen Global, Inc., Dorel Industries, Inc., Moc Furniture, Hooker Furniture Corporation, Hafele, and IKEA Systems B.V.
The North America wooden furniture market research report includes in-depth coverage of the industry with estimates & forecast in terms of volume in kilo tons and revenue in USD million from 2016 to 2026 for the following segments:
Wooden Furniture Market, By Application
o Upholstered furniture
o Non-upholstered furniture
o Kitchen cabinet
o Dining room
The above information is provided on a country basis for the following:
o North America