Emergent popularity of modern-rustic interior design and amenability of furniture is anticipated to impel the Europe solid wood furniture market
Published | 28 August 2019
Due to the changing
lifestyle pattern, there is a shift in consumer buying patterns. Owing to the
affordability and new designs, people are going for a modern rustic design,
which gives the aesthetic appeal to the home. Finishing, recoloring, and
distinctive specialty effecting choices for wood furniture can add a sort of
customization to wooden furniture and also help to improve its solidness. Low
maintenance wood and the lower price is adding fuel to the sales of the solid
wood market.
According to BlueWeave
Consulting,
the solid wood furniture market is going to witness momentous growth during the
forecast period 2014-2024. On accounts of rapidly increasing population,
stimulating standard of living, and enticing tourists are generating new growth
potentials for solid wood furniture manufacturers. Additionally, the cumulative
demand for solid wood furniture from the hospitality sector is also a key
factor in improving the growth of the market. Furthermore, the rising
requirement for furniture from restaurants, coffee shops, and bars, among others,
is expected to fuel market growth.
Among type, Solid timber furniture holds the largest
market share during the forecast period
Solid wood product type
holds the largest market share contributes more than 70% market share in 2018
and will generate a revenue of USD 28.66 Billion by 2025. The most definite
advantage of solid timber wood furniture is its strength, enduring look, and
appeal. Enhanced durability & sturdiness, along with higher product
options, will thrive the product demand. Moreover, growing job
opportunities and employment across Europe generates a need for further office
spaces, which subsequently drives the demand for furniture.
Among application,
household segment is the fastest-growing market which captured the largest
share during the forecast period
Household segment
dominates the solid wood furniture market with a CAGR of 1.13% and projected to
reach USD 34.14 Billion by 2025. The growth of this market is driven by factors
like amassed modernization and infrastructural growth. Flourishing private
housing construction along with government spending on new housing structure to
accommodate the increasing population, will augment the solid wood furniture
demand. Moreover, escalating household renovation and remodeling projects in
Europe will boost the market growth.
Germany is the leading
country of the Europe solid wood furniture industry during the forecast period
Germany dominates the
market with a market share of 24.66% in 2018 and is likely to continue to lead
the market over the forecast period 2019-2025. This growth can be attributed to
intensifying disposable income of the upper and middle-class population,
thriving real estate industry, government-initiated housing projects. Germany
has beheld immigration of numerous fugitives and migrants, resulting in rising
demand for housing. Due to this, the government of Germany is strengthening
public and private developers to construct new rental flats to solve issues
like shortage of affordable housing, resulting in additional demand for furniture
products.
Europe solid wood furniture market competitive landscape
Companies such as Leggett & Platt
Incorporated, Misuraemme, Javorina, Kinnarps Holding Ab, Steelcase Inc.
Hartmann Möbelwerke Gmbh, S.C. Simex S.A and Dyrlund- Smith A/S are the key players in the
industries.
The in-depth analysis of the report provides the growth potential,
upcoming trends and statistics of Europe solid wood furniture market size &
forecast. The report promises to provide state-of-the-art of autonomous cars
technology and industry insights which help decision makers to take sound
strategic decisions. Furthermore, the report also analyzes the market drivers
and challenges and competitive analysis of the market.
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