US Home Furnishings Market Expected $8.22 Billion Growth | Dominated by Klaussner Home Furnishings and LaZBoy Inc.

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Technavio expects US home furnishings market size to grow by $8.22 billion. However, the growth momentum is expected to slow down at a CAGR of 2.53% during the forecast period.

The US home furniture market is driven by the improve the residential construction market. The number of women working and living independently in the United States has increased dramatically over the years. Moreover, the drop in the unemployment rate has 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 these factors are positively influencing the growth of the home furniture market in the United States. The growth of the market will further accelerate with the increased awareness of home decor and attractive furniture.

However, the threat inherent in the reused furniture market will reduce the growth potential of the market. The millennial population in the United States is showing an increased preference for repurposed and refurbished furniture. This furniture has also become an option for people who continually move to new places and have less financial stability. This change in consumer preference is slowing the growth of the market.

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United States Home Furniture Manufacturers Segmentation Analysis

Technavio’s report analyzes the US home furniture market by product (living room furniture, bedroom furniture, storage furniture and others) and by distribution channel (offline and online).

  • Product
    • Living room furniture
    • bedroom furniture
    • Storage units
    • Others
  • Distribution channel
    • brick and mortar
    • online mode

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The top five home furniture manufacturers in the United States:

  • Ashley Furniture Industries Inc. : The company offers premium side tables, kids 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 furniture 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 sheets and a convertible sofa bed platform.

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Scope of the United States home furnishings market

Report cover

Details

Page number

120

Year of reference

2020

Forecast period

2021-2025

Growth momentum and CAGR

Decelerate at a CAGR of 2.53%

Market Growth 2021-2025

$8.22 billion

Market structure

Fragmented

Annual growth (%)

1.26

Regional analysis

WE

Competitive landscape

Leading Companies, Competitive Strategies, Consumer Engagement Reach

Profiled Key Companies

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

Market dynamics

Parent Market Analysis, Market Growth Drivers and Barriers, Fast and Slow Growing Segment Analysis, COVID 19 Impact and Recovery Analysis and Future Consumer Dynamics, Market Status Analysis for the forecast period

Personalization area

If our report does not include the data you are looking for, you can contact our analysts and customize the segments.

Contents

Summary

Market landscape

  • Market ecosystem
  • Value chain analysis

Market sizing

  • Market definition
  • Market segment analysis
  • Market size 2020
  • Market Outlook: Predictions for 2020 – 2025

Five forces analysis

  • The bargaining power of buyers
  • Bargaining power of suppliers
  • The threat of new entrants
  • The threat of substitutes
  • Threat of rivalry
  • Market state

Market segmentation by product

  • Market segments
  • Comparison by product
  • Living room furniture – Market size and forecast 2020-2025
  • Bedroom Furniture – Market size and forecast 2020-2025
  • Storage Furniture – Market size and forecast 2020-2025
  • Others – Market size and forecast 2020-2025
  • Market opportunity by product

Market segmentation by distribution channel

  • Market segments
  • Comparison by distribution channel
  • Offline – Market size and forecast 2020-2025
  • Online – Market size and forecast 2020-2025
  • Market opportunity by distribution channel

Customer landscape

  • Market factors
  • Market challenges
  • Market trends

Supplier Landscape

  • Supplier Landscape
  • Landscape disturbance

Vendor analysis

  • Suppliers Covered
  • Positioning on the supplier market
  • Ashley Furniture Industries Inc.
  • Inter IKEA Holding B.V.
  • Klaussner Furniture
  • LaZBoy Inc.
  • Pier 1 Imports Inc.
  • Furniture and Mattresses Raymour and Flanigan
  • Restoration Hardware Inc.
  • Roomstogo.com Inc.
  • Steinhoff International Holdings AG
  • Williams-Sonoma Inc.

Annex

  • Report scope
  • Currency conversion rates for the US dollar
  • Research methodology
  • Abreviations list

About Technavio

Technavio is a global leader in technology research and consulting. Their research and analysis focuses on emerging market trends and provides actionable insights to help companies identify market opportunities and develop effective strategies to optimize their market positions.

With over 500 specialist analysts, Technavio’s reporting library consists of over 17,000 reports and counts, spanning 800 technologies, spanning 50 countries. Their customer base consists of enterprises 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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Website: www.technavio.com/

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