Home Furniture Market in the US 2017-2021
About Home Furniture
Home furniture includes beds and mattresses, tables and table tops, desks, chairs, storage cabinets, sofas, and other furniture that are used to make a house or building a comfortable place to live. With the rapid urbanization and improved standards of living, the need for furniture has increased considerably over the last few years.
Technavio’s analysts forecast the home furniture market in the US to grow at a CAGR of 6.14% during the period 2017-2021.
Covered in this report
The report covers the present scenario and the growth prospects of the home furniture market in the US for 2017-2021. To calculate the market size, the report considers revenue generated from new home furniture sold to residential customers in the US.
Technavio's report, Home Furniture Market in the US 2017-2021, has been prepared based on an in-depth market analysis with inputs from industry experts. The report covers the market landscape and its growth prospects over the coming years. The report also includes a discussion of the key vendors operating in this market.
Technavio Announces the Publication of its Research Report – Home Furniture Market in the US 2017-2021
Technavio recognizes the following companies as the key players in the home furniture market in the US: Ashley Furniture HomeStore, La-Z-Boy, IKEA, Williams-Sonoma, Rooms To Go, and Mattress Firm.
Other Prominent Vendors in the market are: RH MODERN, Berkshire Hathaway, Pier 1 Imports, Raymour & Flanigan, Sleep Number, Klaussner Home Furnishings, Ethan Allen, Bassett Furniture, Dorel Industries, Sauder Woodworking, Crate and Barrel, Wayfair, JCPenney, and American Furniture Manufacturing.
Commenting on the report, an analyst from Technavio’s team said: “One trend in the market is surging demand for eco-friendly furniture. The idea of green furniture or eco-friendly furniture was always prevalent. However, it is expected to gain momentum in the coming years owing to the rising demand for sustainable products from consumers.”
According to the report, one driver in the market is improving residential construction market. The real estate industry in the US is expected to drive the home furniture market in the next few years. This will be due to the increasing number of people engaging in household formation. There has been a significant rise in the number of women joining the workforce and living independently. As a result, there is a rising need for service apartments and single storey houses.
Further, the report states that one challenge in the market is inherent threat from re-used furniture market. Re-used or refurbished furniture has significantly come up as an option for millennials who are just moving out of their houses and have less financial stability. They tend to buy refurbished furniture items at comparatively lower prices, impacting the revenues of the sellers of newly built furniture. Re-purposed furniture is also in demand as it matches the varying customer preferences.
Ashley Furniture HomeStore, La-Z-Boy, IKEA, Williams-Sonoma, Rooms To Go, and Mattress Firm.Other Prominent Vendors in the market are: RH MODERN, Berkshire Hathaway, Pier 1 Imports, Raymour & Flanigan, Sleep Number, Klaussner Home Furnishings, Ethan Allen, Bassett Furniture, Dorel Industries, Sauder Woodworking, Crate and Barrel, Wayfair, JCPenney, and American Furniture Manufacturing.
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