$ 8.22 billion US home furniture market expected growth | Dominated by Klaussner Home Furnishings and LaZBoy Inc. | Technavio | national news

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NEW YORK, December 8, 2021 / PRNewswire / – The home furniture market in the United States is fragmented due to the presence of several regional and international players. The fragmented nature of the market has resulted in increased competition among suppliers. Hence, vendors deploy various inorganic and organic strategies to compete and gain market advantage.

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Technavio expects the US home furniture market to grow by $ 8.22 billion between 2020 and 2025. However, the growth momentum is expected to slow to a CAGR of 2.53% during the forecast period.

the home furniture market in the United States is driven by the improving residential construction market. The number of women working and living independently in the United States has increased dramatically over the years. In addition, falling unemployment rates have increased the demand for apartments and houses in the country. In addition, the continued growth of the immigrant population in the United States has further fueled the growth of the real estate sector. All of these factors are positively influencing the growth of the household furniture market in USA. The growth of the market will further accelerate with the increased awareness of interior design and attractive furniture.

However, the threat inherent in the reusable furniture market will reduce the growth potential of the market. The millennial population in the United States shows an increased preference for reused and refurbished furniture. Such furniture has also become an option for people who continue to move to new places and have less financial stability. This shift in consumer preference slows the growth of the market. Additionally, the low cost of refurbished furniture impacts sales of newly built furniture, reducing growth opportunities for suppliers.

Home Furniture Manufacturers in United States: Segmentation Analysis

Technavio’s report analyzes the United States Household Furniture Market by Product (Living Room Furniture, Bedroom Furniture, Storage Furniture, and Others) and Distribution Channel (Offline and Online).

By product, the living room furniture segment generated maximum turnover in the market in 2020. The development of the real estate sector and the growing number of single-family homes are driving the growth of the segment. Market growth in the living room furniture segment will be significant during the forecast period. Likewise, in terms of distribution channels, the offline segment accounted for the maximum household furniture sales in the United States in 2020.

Top five home furniture manufacturers in the United States:

Ashley Furniture Industries Inc .: The company offers top-notch side tables, children’s beds, bathroom storage and desks.

Inter IKEA Holding BV: The company offers sofas and armchairs, beds, chairs, study tables and small storage and organizers.

Klaussner furniture: The company offers home furnishings such as sofas, chairs, accent chairs and living room furniture.

LaZBoy Inc .: The company offers recliners, sectionals, sofas, chairs and loveseats.

Pier 1 Imports Inc .: The company offers Akito linens and a convertible sofa bed platform.

Download our free sample for other highlights on other dominant players covered in the report.

Associated reports:

Ready to Assemble Furniture Market by Product, Distribution Channel and Geography – Forecast and Analysis 2021-2025

Luxury Furniture Market by Distribution Channel, Application and Geography – Forecast and Analysis 2021-2025

Home Furniture Market in United States

Cover of the report

Details

Page number

120

Year of reference

2020

Forecast period

2021-2025

Growth dynamics and CAGR

Decelerate to a CAGR of over 2.53%

Market growth 2021-2025

$ 8.22 billion

Market structure

Fragmented

Annual growth (%)

1.26

Regional analysis

we

Efficient contribution to the market

100% United States

Main consumer countries

United States and rest of North America

Competitive landscape

Leading companies, competitive strategies, reach of consumer engagement

Profiled companies

Ashley Furniture Industries Inc., Inter IKEA Holding BV, Klaussner Home Furnishings, LaZBoy Inc., Pier 1 Imports Inc., Raymour and Flanigan Furniture and Matttresses, Restoration Hardware Inc., Roomstogo.com Inc., Steinhoff International Holdings NV and Williams-Sonoma Inc.

Market dynamics

Parent Market Analysis, Market Growth Drivers and Obstacles, Analysis of Fast Growing and Slow Growing Segments, Impact of COVID-19 and Future Consumer Dynamics, Analysis of Market Conditions for the Forecast Period.

Customization

If our report didn’t include the data you’re looking for, you can reach out to our analysts and customize the segments.

About Technavio

Technavio is one of the world’s leading technology research and consulting companies. Their research and analysis focuses on emerging market trends and provides actionable information to help companies identify market opportunities and develop effective strategies to optimize their market positions.

With over 500 specialist analysts, Technavio’s report library includes over 17,000 and more reports, spanning 800 technologies, spanning 50 countries. Their customer base consists of companies of all sizes, including more than 100 Fortune 500 companies. This growing customer base relies on Technavio’s comprehensive coverage, in-depth research and actionable market intelligence to identify opportunities in existing markets. and potentials and assess their competitive positions in changing market scenarios.

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Technavio research

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United Kingdom: +44 203 893 3200

E-mail: [email protected]

Website: www.technavio.com/

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