Wooden Furniture Market Trends Information and Competitive Landscape Scenario to 2026

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Wooden Furniture Market - Regional Growth
Drivers, Opportunities and Trends Forecasts to
2026

• Global wooden furniture market is poised to
  witness a tremendous growth over the projected
  timeframe of 2020 to 2026 on account of rising
  number of residential and commercial construction
  activities across the globe. Alongside,
  increasing consumer inclination towards home
  décor furniture backed by growing disposable
  income will also further help accelerate the
  demand for wooden furniture. The industrial
  growth is supported by advancements in material
  and technology which has provided more innovative
  and durable storage furniture to the consumers.
  According to Global Market Insights, Inc. report,
  wooden furniture market size is estimated to
  exceed USD 475 billion by 2026.
• Referring to technological advancements,
  manufacturers in the industry are inclined on
  offering innovative solutions to provide enhanced
  customer experience. For instance, Klaussner Home
  Furnishings, in 2020, announced the addition of
  new concept of outdoor furniture that
  incorporates power motion.

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• In terms of applications, residential segment is
  projected to register a CAGR of 5.5 over the
  analysis timeframe on account of increasing
  product demand due to growing housing
  construction activities along with rising
  standards of living across developing economies.
  Besides, significant economic growth and
  increasing residential constructions driven by
  rising single household population is expected to
  positively influence non-upholstered furniture
  segment outlook.

• Speaking of commercial applications, office
  wooden furniture segment is expected to witness a
  commendable growth considering the rising product
  adoption due to increasing establishments of
  several new offices, start-ups and corporate
  sectors. These establishments have significantly
  driven the demand for wooden furniture for
  individual workstations, meetings, lounges and
  cafeterias, thereby providing positive growth
  prospects for the segment.

• Considering the growing product demand for home
  furniture in North America, manufacturers in the
  region are introducing new offerings to cater to
  the growing demand. For instance, in 2019,
  Bernhardt Furniture Company launched its new
  lifestyle brand Bernhardt Loft, aimed at
  providing wide range of case goods and
  corresponding upholstery suitable for urban
  lifestyle, smaller homes and apartments.
  Apparently, this new launch will help the company
  gain a strong foothold in the regional market by
  offering products in line with modern living
  combined with urban aesthetics.

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• Regional Analysis

• North America wooden furniture market is
  estimated to register a CAGR of around 5.5 over
  the forecast period owing to increasing consumer
  spending on home furniture along with growing
  pallet lumber business. Speaking of consumers,
  joint families and nuclear families are the major
  end-users in the industry which has led to a
  considerable rise in product demand in
  residential segment, especially for kitchen
  furniture cabinets, dining tables and upholstered
  non-upholstered components.

• Competitive Analysis

• Major industry players operating in wooden
  furniture market such as Kvist Industries A/S,
  Lifestyle Furniture, Casta, La-Z-Boy, Inc.,
  Kinnarps AB, An Cuong, Klaussner Home Furnishing,
  Doimo and Bernhardt Furniture Company are focused
  on implementing effective strategies such as,
  partnerships, acquisitions, increasing the
  production capacity and expansion on geographical
  fronts to gain a strong presence in the market.

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