(MoneyNewsWire.Net, July 23, 2018 ) The household furniture market comprises of firms engaged in producing household furniture made of materials such as plastics, reed, rattan, wicker, and fiberglass. These products may be assembled or unassembled and manufactured on a custom or stock basis.
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The market was valued at $209 billion in 2017, and it is expected to be driven by the elimination of assembly time thereby reducing cost of manufacturing, which allows manufacturers to focus only on design and production of parts. Asia Pacific was the largest region in the household furniture and kitchen cabinet manufacturing market in 2017, accounting for around two fifth of the market share. This can be attributed to high demand for household and kitchen furniture from middle class population in countries such as China and India owing to rising disposable income.
Household furniture market in the report is split into the following segments: upholstered household furniture, metal household furniture, and nonupholstered wood household furniture.
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China was the biggest player in the household furniture manufacturing market in 2017 accounting for more than one-fourth of the household furniture market.
The top five competitors in the market are Ashley Furniture Industries, IKEA, Herman Miller, TJX, and Steelcase. Ashley Furniture Industries was the biggest player in the household furniture market. Ashley Furniture Industries is an American home furnishings manufacturer and retailer, headquartered in Arcadia, Wisconsin.
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