LONDON–(BUSINESS WIRE)–Technavio announces the release of its latest report on the home furniture market in US. The market is segmented by product (living room furniture, bedroom furniture, storage furniture, and others) and distribution channel (brick and mortar and online mode). The report offers an in-depth analysis of recent developments, changes in market regulations, product approvals, product launches, and the market behavior across various segments.
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Home Furniture Market in US: Key Findings
- Home furniture market value to grow by USD 8.08 billion at over 2% CAGR during 2020-2024
- Based on the product, the living room furniture segment will offer maximum opportunities for vendors during the forecast period
- Home furniture market is expected to have a negative impact due to the spread of COVID-19
Home Furniture Market in US: Growth Drivers
The growing real estate industry is one of the prime factors driving the home furniture market in US. Over the years, the demand for service apartments and single-story houses has increased significantly in the US. This is due to the rise in the number of women joining the workforce and living independently. Besides, the continuously increasing immigrant population in the US has fostered the growth of the real estate industry. These factors are increasing the demand for the home furniture market in the US.
“Increasing online sales of furniture and growing awareness of home décor and attractive furnishings will further boost market growth during the forecast period”, says a senior analyst at Technavio.
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Home Furniture Market in US: Major Vendors
Ashley Furniture Industries Inc.
Ashley Furniture Industries Inc. operates its business through segments such as Furniture, Mattresses, Outdoor, Bedding, Home décor, Rugs, and Lighting. The company offers a wide range of living room, kitchen, bedroom, and other furniture.
Inter IKEA Holding BV
Inter IKEA Holding BV offers a wide range of living room, kitchen, bedroom, and other furniture.
Klaussner Home Furnishings
Klaussner Home Furnishings operates its business through the Unified segment. The company offers sleepers, leather sofas, and other home furnishing products.
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