A recent report updated on WiseGuy Reports (WGR) includes a comprehensive overview of the Luxury Furniture Market, with an informative explanation. The outline is framed to inform the reader about the product/service, its applications in several end-user industries, and the production and management of the same. The global Luxury Furniture Market has been analyzed in detail to arrive at an accurate and insightful conclusion regarding the recent trends noted in the industry, the competitive landscape and the regional market for the product/service over the forecast period of 2018 to 2025.
In 2018, the global Luxury Furniture market size was 37360 million US$ and it is expected to reach 50460 million US$ by the end of 2025, with a CAGR of 4.4% during 2019-2025.
Luxury furniture is a work of art, designed and completed with the highest level of finish, well balanced and of superlative quality.It is usually made from very best materials such as top quality wood, top quality leather and top quality glass.
The luxury furniture market is very fragmented concentrated market; key players includes Restoration Hardware, Hooker Furniture Corporation, Knoll, Kimball, Molteni Group, Poltrona Frau, Roche Bobois, Scavolini S.p.A., B&B Italia, Minotti, Ligne Roset, Luxury Living Group (Fendi Casa) etc; the revenue of top ten manufacturers accounts about 12% of the total revenue in 2018.The luxury furniture is classified into the Wood, Metal, Glass and other according to the product material.
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As of 2018, Wood luxury furniture segment dominates the market contributing about 46.86% market share, reach to 2308.25 million dollars, followed by metal luxury furniture and glass luxury furniture, which occupied 25.53% and 15.53% respectively. luxury furniture mainly sales to residential and commercial (office, retail, hospitality and other commercial), in 2018, residential occupied the largest luxury furniture consumption market, with 79.44% market share, reach to 29683 million.Europe would account for the highest consumption in 2025 as a result of mature market and advance in living standard, but development countries have the highest growth rate.
Top Key Players
Hooker Furniture Corporation
Luxury Living Group (Fendi Casa)
Suyen Furniture Group
Boca do Lobo
Luxury Furniture Market Segmentation
Market segment by Type, the product can be split into
In 2018, Wood accounted for a major share of 46.86% in the global Luxury Furniture market. And this product segment is poised to reach 23624 Million US$ by 2025 from 17510 Million US$ in 2018.
Market segment by Application, split into
In Luxury Furniture market, the Residential holds an important share in terms of application, and it is expected to reach a value of 40414 (M USD) by 2025, at a CAGR of 4.49% during 2019 and 2025. It includes living room, bedroom, dining room and others.
The Commercial includes hotel, office and others.
Market segment by Regions/Countries, this report covers
In this study, the years considered to estimate the market size of Luxury Furniture are as follows:
History Year: 2014-2018
Base Year: 2018
Estimated Year: 2019
Forecast Year 2019 to 2025
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This post was originally published on Trading Herald