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(MoneyNewsWire.Net, July 19, 2018 ) The furniture manufacturing market comprises establishments that manufacture tables, chairs, desks, cabinets or fixtures that are used in a room or building to support various human activities. The furniture manufacturing market is segmented into household furniture and kitchen cabinet manufacturing, institutional and office furniture (including fixtures) manufacturing and mattresses, blinds and shades manufacturing.
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The substantial reason for the growth of the global furniture manufacturing sector from $683 billion in 2017 to $1 trillion by 2021 is the emerging markets for customized furniture and rise in population of developing nations. Asia Pacific was the largest region in the furniture manufacturing market in 2016
The furniture manufacturing in The Business Research Company’s report is divided into three segments. Institutional and office furniture manufacturing takes up the half of share of the market followed by household furniture and kitchen cabinet manufacturing which acquires one-third share and mattresses, blinds and shades manufacturing takes the remaining share of the market.
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China was the largest country in the furniture manufacturing market in 2017, accounting for about half of the market share. This was mainly due to high demand for furniture products and mattresses from a large middle-class population in the country. China was followed by the USA and Germany.
The top five competitors in the market are IKEA, Ashley Furniture Industries Inc., Steelcase Inc., Tempur Sealy International Inc. and Leggett & Platt Inc. IKEA was the biggest player in the market in 2017. It is a Swedish multinational group of companies that are involved in the design, manufacture, and sale of home accessories, appliances, and ready-to-assemble furniture. The company is headquartered in the Netherlands and employs around 183000 people.
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