About Ready to Assemble (RTA) Furniture
Ready-to-assemble (RTA) furniture is also known as flat-pack, knock-down (KD), DIY (do-it-yourself), self-assembly, or kit furniture. Over the years, RTA furniture has evolved in technology, designs, and quality. It includes residential furniture like living room furniture, bedroom furniture, kitchen room furniture, dining room furniture, garden and balcony furniture, and kids and teenager room furniture. RTA furniture also includes office furniture like swivel chairs, tables, desktop table, filing chairs, and pedestals.
Technavio’s analysts forecast the ready to assemble furniture market in Europe to grow at a CAGR of 4.25% during the period 2017-2021.
Covered in this report
The report covers the present scenario and the growth prospects of the ready to assemble furniture market in Europe for 2017-2021. To calculate the market size, the report considers the revenue generated through the retail sales of different types of RTA furniture.
The market is divided into the following segments based on geography:
Technavio Announces the Publication of its Research Report – Ready to Assemble (RTA) Furniture Market in Europe 2017-2021
Technavio recognizes the following companies as the key players in the ready to assemble furniture market in Europe: Dorel Industries, Inter IKEA Systems, and Tvilum.
Other Prominent Vendors in the market are: Alphason, Decorative Panels Furniture, MEUBLES Demeyere, FLEXA, Röhr-Bush, Steinhoff International, and SBA.
Commenting on the report, an analyst from Technavio’s team said: “One trend in the market is surge in innovative product designs. With shifting consumer needs to more innovative and trendy product designs, RTA furniture manufacturers are also coming up with new and trendy designs to cater to different customer needs. With advances in technology, these competitors are enabled to produce multifunctional and durable products, which also help them to maintain their competitive edge.”
According to the report, one driver in the market is economical cost and quick furnishings of RTA furniture. With many consumers shifting homes and moving out of cities frequently, the problem of moving furniture has become a major challenge. RTA furniture is portable and has quick furnishing capabilities. Hence, it is easy to move. Moreover, it is relatively cheaper than permanent furniture, which, in turn, help them to save money. It is considered that European furniture manufacturers are popular globally due to their varied creativity in trendy designs.
Further, the report states that one challenge in the market is uncertainty in costs of raw material used for RTA furniture. In the present market scenario in Europe, RTA furniture manufacturers are experiencing uncertain fluctuations in their profit margins. This is due to the fluctuating cost of raw material and intense competition among market players. Due to low establishment costs, an influx of local players has been observed in recent times. The presence of local players leads to price wars among registered market competitors, which force global competitors to reduce the prices of their products, which reduces their profit margins.
Dorel Industries, Inter IKEA Systems, and Tvilum.Alphason, Decorative Panels Furniture, MEUBLES Demeyere, FLEXA, Röhr-Bush, Steinhoff International, and SBA.
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