Folding Furniture Market size was valued at US$ 10.02 Bn. in 2021. Residential, one of the segments reviewed in our report dominated the Folding Furniture Market.
Folding Furniture Market Overview:
The competitive landscape of the Folding Furniture Market includes information about competitors. The contents include a corporate overview, financials, revenue generated, market potential, investment in research and development, new market efforts, geographical presence, firm strengths and weaknesses, product introduction, and application dominance. The preceding data points are solely relevant to the businesses’ focus on the Folding Furniture market.
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Folding Furniture Market Scope:
This Folding Furniture market report discusses new recent developments, trade regulations, import-export analysis, production analysis, value chain optimization, market share, the impact of domestic and localized market players, opportunities in terms of emerging revenue streams, changes in market regulations, strategic market growth analysis, market size, segmented market growth, application niches, and dominance, product approvals, product launches, geographic expansion For more information on the Folding Furniture market, please contact Maximize Market Research for an Analyst Brief; our experts will assist you in making an informed market choice to achieve market growth.
Folding Furniture Market Segmentation:
by Product
• Table and Chair
• Beds
• Sofas
• Others
With 52.32% of the market share by product in 2021, the table and chair sector led the market. Due to their versatility and utility, folding chairs are a dominating type of furniture. Customers like folding chairs for use in the backyard, while travelling, and other outside settings. These elements are fueling the segment’s market expansion.Through the projection period, the segment for sofas is anticipated to expand at a CAGR of 9%. The couch is the primary piece of furniture in living rooms, and rising consumer demand for products that take up less space is anticipated to fuel the segment’s demand. The factor anticipated to propel the market growth of the category during the forecast period is a shift in preference towards the foldable couch that can also be converted into a bed.
by Application
• Residential
• Commercial
With a 63% market share in 2021, the Residential application sector led all other applications. It involves how living spaces, such as kitchens and dining rooms, as well as living rooms, bedrooms, and outdoor spaces, are used. The expansion of the segment’s market is being driven by the rising number of residential construction projects being built around the globe.Through the projection period, the commercial segment is anticipated to rise at a CAGR of 5%. Corporate offices, healthcare facilities, and educational institutions are just a few of the commercial construction settings where these are installed. They are also utilised in hotels and cafeterias. Through the course of the projection period, increasing wood production together with supportive trade policies and other factors are anticipated to propel the segment’s expansion.
by Distribution Channel
• Offline
• Online
By Distribution Channel With a 75.6% share of the market, the offline segment controlled the market in 2020. Retail domination has sparked severe market competition as large manufacturers as Inter IKEA, Raymour & Flanigan, etc. compete on a global scale. These shops assist customers in making use of the option to alter home furnishings to suit their requirements. The elements that are promoting the segment’s growth in the market include the availability of space, parking places, etc.Through the projection period, the online segment is anticipated to develop at a CAGR of 8%. The demand for the segment is anticipated to be driven by a rise in online shopping brought on by more awareness, a growth in smartphone users, and the accessibility of a wide range of goods from global brands.
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Folding Furniture Market Key Players: The following are the key players of the Folding Furniture market-
• IKEA
• Ashley Furniture Industries Inc.
• Leggett & Platt Inc.
• Dorel Industries Inc.
• Haworth Inc.
• Expand Furniture
• Murphy Wall Beds Hardware Inc.
• Flex Steel Industries Inc.
• Maxchief Europe
• Hussey Seating Company
• Meco Corporation
• Inter Ikea Systems B.V.
• Sauder Woodworking Company
• Bush Industries, Inc.
• Lifetime Products Inc.
• Resource Furniture
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Folding Furniture Market Regional Analysis:
The geographical section of the research also includes individual market influencing variables and changes in market regulations that effect current and future market trends. Data points such as downstream and upstream value chain analysis, technology trends, porter’s five forces analysis, and case studies are only a few of the indicators used to forecast market scenarios for various countries.
COVID-19 Impact Analysis on Folding Furniture Market: The research also addresses the impact of COVID-19 on the Folding Furniture market. The basic purpose of this study is to help the user understand the market in terms of definition, segmentation, market potential, noteworthy trends, and the issues that the industry is facing across key regions. The study provides micro and macroeconomic analysis of the total impact of COVID-19 on the Folding Furniture Market. The specific analysis focuses on market share and size, which clearly demonstrates the influence that the pandemic has had and will have on the worldwide Folding Furniture Market in the next years.
Key Questions Answered in the Folding Furniture Market Report are:
- What will be the CAGR of the Folding Furniture market during the forecast period (2022-2029)?
- Which segment emerged as the leading segment in the Folding Furniture market?
- Which are the prominent players in the Folding Furniture market?
- What key trends are likely to emerge in the Folding Furniture market in the forecast period?
- What will be the Folding Furniture market size by 2029?
- Which company held the largest share in the Folding Furniture market in 2020?
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