Technavio has been monitoring the wooden furniture market and it is poised to grow by USD 44.86 billion during 2020-2024, progressing at a CAGR of over 2% during the forecast period. The report offers an up-to-date analysis regarding the current market scenario, latest trends and drivers, and the overall market environment.
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Impact of COVID-19
The COVID-19 pandemic continues to transform the growth of various industries. However, the immediate impact of the outbreak is varied. While a few industries will register a drop in demand, numerous others will continue to remain unscathed and show promising growth opportunities. COVID-19 will have a low impact on the wooden furniture market. The market growth in 2020 is likely to increase compared to the market growth in 2019.
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The market is fragmented, and the degree of fragmentation will accelerate during the forecast period. Ashley Furniture Industries Inc., Duresta Upholstery Ltd., Herman Miller Inc., HNI Corp., Inter IKEA Holding BV, Laura Ashley Holdings Plc, Okamura Corp., Steelcase Inc., Williams-Sonoma Inc., and Yihua Enterprise (Group) Co. Ltd. are some of the major market participants. The growth of the real estate and construction industry will offer immense growth opportunities. In a bid to help players strengthen their market foothold, this wooden furniture market forecast report provides a detailed analysis of the leading market vendors. The report also empowers industry honchos with information on the competitive landscape and insights into the different product offerings offered by various companies.
Technavio's custom research reports offer detailed insights on the impact of COVID-19 at an industry level, a regional level, and subsequent supply chain operations. This customized report will also help clients keep up with new product launches in direct & indirect COVID-19 related markets, upcoming vaccines and pipeline analysis, and significant developments in vendor operations and government regulations.
Wooden Furniture Market 2020-2024: Segmentation
Wooden Furniture Market is segmented as below:
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Wooden Furniture Market 2020-2024: Scope
Technavio presents a detailed picture of the market by the way of study, synthesis, and summation of data from multiple sources. The wooden furniture market report covers the following areas:
This study identifies the rising demand for luxury furniture as one of the prime reasons driving the wooden furniture market growth during the next few years.
Technavio suggests three forecast scenarios (optimistic, probable, and pessimistic) considering the impact of COVID-19. Technavio's in-depth research has direct and indirect COVID-19 impacted market research reports.
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Wooden Furniture Market 2020-2024: Key Highlights
Table of Contents:
Executive Summary
Market Landscape
Market Sizing
Five Forces Analysis
Market Segmentation by Product
Market Segmentation by Application
Customer Landscape
Geographic Landscape
Vendor Landscape
Vendor Analysis
Appendix
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