
U.S. Furniture Market: Insights & Forecast with Potential Impact of COVID-19 (2022-2026)
Description
U.S. Furniture Market: Insights & Forecast with Potential Impact of COVID-19 (2022-2026)
The U.S. furniture market is expected to record a value of US$288.9 billion in 2026, growing at a CAGR of 4.47%, for the time period of 2022-2026. Factors such as surge in number of housing units, growth in millennial population, rising consumer spending on furniture, escalating penetration of social media and rapid urbanization would drive the growth of the market. However, the market growth would be challenged by problem related to deforestation and rise in furniture rental. A few notable trends may include increasing furniture sales via ecommerce, rising adoption of augmented reality, increasing interest in eco-friendly furniture and demand for more flexible workspaces.
The rising demand for multifunctional furniture is expected to bolster the growth prospects of the furniture demand. As rooms are getting smaller, customers are increasingly looking for compact and easily movable furniture to allow for efficient use of the available space. To cater to such requirements, the vendor companies are innovating with new product and introducing multifunctional furniture with storage facilities, which is acting as a key trend in the U.S. furniture market.
In terms of companies, Costco, Williams-Sonoma, MillerKnoll, Steelcase, HNI Corporation and Ashley Furniture Industries are top players in the U.S. furniture market. However, with technological advancements and product innovations, mid-size to smaller companies are increasing their market presence by securing new contracts and tapping into new markets.
Scope of the report:
The report provides a comprehensive analysis of the U.S. furniture market
The market dynamics such as growth drivers, market trends and challenges are analyzed in-depth.
The competitive landscape of the market, along with the company profiles of leading players (Costco, Williams-Sonoma, MillerKnoll, Steelcase, HNI Corporation and Ashley Furniture Industries) are also presented in detail.
Key Target Audience:
Furniture Manufacturers
Raw Material Suppliers
Potential Audience
Investment Banks
Government Bodies & Regulating Authorities
The U.S. furniture market is expected to record a value of US$288.9 billion in 2026, growing at a CAGR of 4.47%, for the time period of 2022-2026. Factors such as surge in number of housing units, growth in millennial population, rising consumer spending on furniture, escalating penetration of social media and rapid urbanization would drive the growth of the market. However, the market growth would be challenged by problem related to deforestation and rise in furniture rental. A few notable trends may include increasing furniture sales via ecommerce, rising adoption of augmented reality, increasing interest in eco-friendly furniture and demand for more flexible workspaces.
The rising demand for multifunctional furniture is expected to bolster the growth prospects of the furniture demand. As rooms are getting smaller, customers are increasingly looking for compact and easily movable furniture to allow for efficient use of the available space. To cater to such requirements, the vendor companies are innovating with new product and introducing multifunctional furniture with storage facilities, which is acting as a key trend in the U.S. furniture market.
In terms of companies, Costco, Williams-Sonoma, MillerKnoll, Steelcase, HNI Corporation and Ashley Furniture Industries are top players in the U.S. furniture market. However, with technological advancements and product innovations, mid-size to smaller companies are increasing their market presence by securing new contracts and tapping into new markets.
Scope of the report:
The report provides a comprehensive analysis of the U.S. furniture market
The market dynamics such as growth drivers, market trends and challenges are analyzed in-depth.
The competitive landscape of the market, along with the company profiles of leading players (Costco, Williams-Sonoma, MillerKnoll, Steelcase, HNI Corporation and Ashley Furniture Industries) are also presented in detail.
Key Target Audience:
Furniture Manufacturers
Raw Material Suppliers
Potential Audience
Investment Banks
Government Bodies & Regulating Authorities
Table of Contents
87 Pages
- 1. Market Overview
- 1.1 Introduction
- 1.2 Major Functional Categories of Furniture
- Table 1: Major Functional Categories of Furniture
- 1.3 Importance of Furniture in House
- Table 2: Importance of Furniture in House
- 1.4 Top Materials Used in Furniture Manufacturing
- Table 3: Top Materials Used in Furniture Manufacturing
- 1.5 Factors Determined While Buying Furniture
- Table 4: Factors Determined While Buying Furniture
- 1.6 Furniture Industry Production Value Chain
- Table 5: Furniture Industry Production Value Chain
- 2. Impact of COVID-19
- 2.1 Impact on Industrial Production
- Table 6: The U.S. Industrial Production – Durable Manufacturing: Furniture and Related Product (2019-2021)
- 2.2 Impact on Furniture Stores Sales
- Table 7: The U.S. Furniture and Home Furnishing Stores Sales (2019-2020)
- 2.3 Impact on Office Furniture Sales
- Table 8: The U.S. Office Furniture Market Growth Rate (2019-2020)
- 3. The U.S. Market Analysis
- 3.1 The U.S. Furniture Market by Value
- Table 9: The U.S. Furniture Market by Value (2017-2021)
- 3.2 The U.S. Furniture Market Forecast by Value
- Table 10: The U.S. Furniture Market Forecast by Value (2022-2026)
- 3.3 The U.S. Furniture Market by Product Category
- Table 11: The U.S. Furniture Market by Product Category (2021)
- 3.3.1 The U.S. Living Room Furniture Market by Value
- Table 12: The U.S. Living Room Furniture Market by Value (2017-2021)
- 3.3.2 The U.S. Living Room Furniture Market Forecast by Value
- Table 13: The U.S. Living Room Furniture Market Forecast by Value (2022-2026)
- 3.3.3 The U.S. Bedroom Furniture Market by Value
- Table 14: The U.S. Bedroom Furniture Market by Value (2017-2021)
- 3.3.4 The U.S. Bedroom Furniture Market Forecast by Value
- Table 15: The U.S. Bedroom Furniture Market Forecast by Value (2022-2026)
- 3.3.5 The U.S. Kitchen & Dining Furniture Market by Value
- Table 16: The U.S. Kitchen & Dining Furniture Market by Value (2017-2021)
- 3.3.6 The U.S. Kitchen & Dining Furniture Market Forecast by Value
- Table 17: The U.S. Kitchen & Dining Furniture Market Forecast by Value (2022-2026)
- 3.3.7 The U.S. Lamp & Lighting Market by Value
- Table 18: The U.S. Lamp & Lighting Market by Value (2017-2021)
- 3.3.8 The U.S. Lamp & Lighting Market Forecast by Value
- Table 19: The U.S. Lamp & Lighting Market Forecast by Value (2022-2026)
- 3.3.9 The U.S. Floor Covering Market by Value
- Table 20: The U.S. Floor Covering Market by Value (2017-2021)
- 3.3.10 The U.S. Floor Covering Market Forecast by Value
- Table 21: The U.S. Floor Covering Market Forecast by Value (2022-2026)
- 3.3.11 The U.S. Home Office Furniture Market by Value
- Table 22: The U.S. Home Office Furniture Market by Value (2017-2021)
- 3.3.12 The U.S. Home Office Furniture Market Forecast by Value
- Table 23: The U.S. Home Office Furniture Market Forecast by Value (2022-2026)
- 3.3.13 The U.S. Outdoor Furniture Market by Value
- Table 24: The U.S. Outdoor Furniture Market by Value (2017-2021)
- 3.3.14 The U.S. Outdoor Furniture Market Forecast by Value
- Table 25: The U.S. Outdoor Furniture Market Forecast by Value (2022-2026)
- 3.4 The U.S. Wooden Furniture Import Value
- Table 26: The U.S. Wooden Furniture Import Value (2017-2021)
- 3.5 The U.S. Wooden Furniture Import by Country
- Table 27: The U.S. Wooden Furniture Import by Country (2021)
- 3.5.1 The U.S. Wooden Furniture Import Value by Country
- Table 28: The U.S. Wooden Furniture Import Value by Country (2017-2021)
- 4. Market Dynamics
- 4.1 Growth Drivers
- 4.1.1 Surge in Number of Housing Units
- Table 29: Total Housing Units in the U.S. (2017-2021)
- 4.1.2 Growth in Millennial Population
- Table 30: The U.S. Resident Population by Generation (2021)
- 4.1.3 Rising Consumer Spending on Furniture
- Table 31: The U.S. Consumer Spending on Furniture & Bedding (2017-2021)
- 4.1.4 Escalating Penetration of Social Media
- Table 32: Share of U.S. Population with the Social Media Usage (2017-2021)
- 4.1.5 Rapid Urbanization
- Table 33: The U.S. Urban Population (2017-2021)
- 4.2 Key Trends
- 4.2.1 Increasing Furniture Sales via Ecommerce
- Table 34: The U.S. Ecommerce Furniture Sales (2020-2025)
- 4.2.2 Rising Adoption of Augmented Reality
- Table 35: Number of Augmented Reality Users in the U.S. (2019-2023)
- 4.2.3 Demand for More Flexible Workspace
- 4.2.4 Increasing Interest in Eco-Friendly Furniture
- 4.3 Challenges
- 4.3.1 Problem Related to Deforestation
- Table 36: Tree Cover Loss in the U.S. (2011-2021)
- 4.3.2 Rise in Furniture Rental
- 5. Competitive Landscape
- 5.1 The U.S. Market
- 5.1.1 Key Players – Revenue Comparison
- Table 37: Key Players – Revenue Comparison (2021)
- 5.1.2 Key Players – Market Capital Comparison
- Table 38: Key Players – Market Capital Comparison (2022)
- 6. Company Profiles
- 6.1 Costco
- 6.1.1 Business Overview
- 6.1.2 Financial Overview
- Table 39: Costco Net Sales and Net Income (2017-2021)
- Table 40: Costco Net Sales by Segments (2021)
- 6.1.3 Business Strategies
- 6.2 Williams-Sonoma
- 6.2.1 Business Overview
- 6.2.2 Financial Overview
- Table 41: Williams-Sonoma Net Revenues & Net Earnings (2017-2021)
- Table 42: Williams-Sonoma Net Revenues by Segment (2021)
- 6.2.3 Business Strategies
- 6.3 MillerKnoll
- 6.3.1 Business Overview
- 6.3.2 Financial Overview
- Table 43: MillerKnoll Net Sales and Net Loss (Earning) (2017-2021)
- Table 44: MillerKnoll Net Sales by Segments (2021)
- Table 45: MillerKnoll Net Sales by Region (2021)
- 6.3.3 Business Strategies
- 6.4 Steelcase
- 6.4.1 Business Overview
- 6.4.2 Financial Overview
- Table 46: Steelcase Revenue and Net Income (2017-2021)
- Table 47: Steelcase Revenue by Segment (2021)
- Table 48: Steelcase Revenue by Region (2021)
- 6.4.3 Business Strategies
- 6.5 HNI Corporation
- 6.5.1 Business Overview
- 6.5.2 Financial Overview
- Table 49: HNI Corporation Net Sales and Net Income (2017-2021)
- Table 50: HNI Corporation Net Sales by Segment (2021)
- 6.5.3 Business Strategies
- 6.6 Ashley Furniture Industries
- 6.6.1 Business Overview
- 6.6.2 Business Strategies
Pricing
Currency Rates
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