Global Furniture Market Report (2021 to 2030) – Impact and Recovery of COVID-19 – ResearchAndMarkets.com

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DUBLIN – (COMMERCIAL THREAD) – The report “Global Furniture Market Report 2021: Impact and Recovery of COVID-19 to 2030” has been added to ResearchAndMarkets.com offer.

This report provides strategists, marketers and senior management with the information they need to assess the global furniture market emerging from the COVID-19 shutdown.

The global furniture market is expected to grow from $ 564.17 billion in 2020 to $ 671.07 billion in 2021 at a compound annual growth rate (CAGR) of 18.9%. The growth is mainly due to companies reorganizing their operations and recovering from the impact of COVID-19, which previously led to restrictive containment measures involving social distancing, remote working and the closure of business activities which resulted in operational challenges. The market is expected to reach $ 850.38 billion in 2025 at a CAGR of 6%.

Companies mentioned

  • IKEA AB

  • Ashley Furniture Industries Inc

  • Steelcase Inc

  • Tempur Sealy International Inc

  • Leggett & Platt Incorporated

Reasons to purchase

  • Get a truly global perspective with the most comprehensive report available on this market covering over 50 geographies.

  • Understand how the market is affected by the coronavirus and how it is likely to emerge and grow as the impact of the virus wanes.

  • Create regional and national strategies based on local data and analyzes.

  • Identify growth segments for investment.

  • Outperform your competition using forecast data and the drivers and trends that shape the market.

  • Understand customers based on the latest market research findings.

  • Compare performance to your main competitors.

  • Use the relationships between key data sets for a better strategy.

  • Suitable for supporting your internal and external presentations with high quality reliable data and analysis

The report covers the market characteristics, size and growth, segmentation, regional and country breakdowns, competitive landscape, market shares, trends and strategies for this market. It traces the historical and forecast growth of the market by geography. It places the market in the context of the larger furniture market and compares it to other markets.

  • The Market Characteristics section of the report defines and explains the market.

  • The Market Size section gives the market size (Billion USD) covering both historical market growth, impact of COVID-19 virus and forecast of its recovery.

  • Market segmentations break down the market into submarkets.

  • The regional and country breakdowns section gives an analysis of the market within each geography and market size by geography and compares their historical and forecast growth. It covers the impact and recovery trajectory of COVID-19 for all regions, major developed countries and major emerging markets.

  • The competitive landscape gives a description of the competitive nature of the market, market shares and a description of the main companies. The main financial transactions that have shaped the market in recent years are identified.

  • The Trends and Strategies section analyzes the shape of the market emerging from the crisis and suggests how companies can grow as the market recovers.

  • The furniture market section of the report provides background. It compares the furniture market with other segments of the paper, plastics, rubber, wood and textile market by size and growth, history and forecast. It analyzes the proportion of GDP, per capita expenditure, comparison of furniture indicators.

Asia-Pacific was the largest region in the global furniture market, accounting for 45% of the market in 2020. North America was the second largest region accounting for 21% of the global furniture market. Africa was the smallest region in the world furniture market.

The coronavirus (COVID-19) outbreak acted as a massive restriction on the furniture manufacturing market in 2020 as supply chains were disrupted due to trade restrictions and consumption declined due to lockdowns imposed by governments around the world. COVID 19 is an infectious disease with flu-like symptoms, including fever, cough, and difficulty breathing. The virus was first identified in 2019 in Wuhan, Hubei Province in the People’s Republic of China and has spread around the world, including in Western Europe, North America and Asia. Measures taken by national governments to contain transmission have resulted in the shutdown of manufacturing activities and a decline in economic activity, with countries entering a state of “containment” and the epidemic is expected to continue to have an impact. negative on business throughout 2020 and through 2021. However, the furniture manufacturing market is expected to recover from the shock during the forecast period as it is about a “black swan” event and not related to persistent or fundamental weaknesses in the market or the global economy.

The growing demand for online shopping is expected to drive the growth of the furniture manufacturing market. Manufacturers can now sell their products on a larger platform than before, which will increase their customer base geographically, leading to the growth of the furniture manufacturing market. in countries like India, for example, e-commerce portals boosted sales for furniture manufacturers by giving greater visibility to producers who were confined to a single geographic area.

For more information on this report, visit https://www.researchandmarkets.com/r/y3erq

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