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The North America furniture market size is projected to reach $ 400,068.8 million by 2030, registering a CAGR of 4.9% from 2021 to 2030.
Based on distribution channel, the specialty stores segment held the largest North America furniture market share in 2030” - Allied Market ResearchWILMINGTON, DE, UNITED STATES, November 6, 2024 /EINPresswire / -- According to the report published by Allied Market Research, the North America furniture market generated $249.4 billion in 2020, and is projected to reach $400.06 billion by 2030, witnessing a CAGR of 4.9% from 2021 to 2030. The report provides a detailed analysis of changing market dynamics, top segments, value chain, key investment pockets, regional scenario, and competitive landscape.
Rise in entrepreneurship & work from home, growth in infrastructure investment in the residential & commercial sector, and surge in inclination of customers toward modular furniture drive the growth of the North America furniture market . However, rise in raw material price and environmental restriction associated with deforestation restrain the growth to some extent. On the other hand, development of eco-friendly raw materials and growth in e-commerce sales present new opportunities in the upcoming years.
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The report offers detailed segmentation of the North America furniture market based on type, distribution channel, and country.
Based on type, the residential segment held the highest market share in 2020, holding nearly half of the total market share, and is expected to continue its leadership status during the forecast period. Moreover, the RTA segment is estimated to register the highest CAGR of 5.6% from 2021 to 2030.
Based on distribution channel, the specialty stores segment held the largest market share in 2020, holding more than two-fifths of the total market share, and is expected to continue its leadership status during the forecast period. Moreover, the e-commerce segment is projected to register the highest CAGR of 5.5% from 2021 to 2030.
Based on country, the U.S. contributed to the highest share in terms of revenue in 2020, holding more than two-thirds of the North America furniture market, and is estimated to continue its dominant share by 2030. Moreover, the same country is projected to manifest the fastest CAGR of 5.1% during the forecast period.
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Leading players of the North America furniture market analyzed in the research include
Ralph Lauren Home
Knoll, Inc.
Bassett Furniture Industries
Inter Ikea Systems BV
Kimball International, Inc.
HNI Corporation
Haworth, Inc.
Durham Furniture Inc.
Steelcase Inc.
Stickley Furniture
Key findings of the study
The North America furniture market size was valued at $ 249,406.5 million in 2020 and is projected to reach $ 400,068.8 million by 2030, registering a CAGR of 4.9% from 2021 to 2030.
Based on type, the residential segment accounted for the highest furniture market share in 2020, growing at a CAGR of 4.4% from 2021 to 2030.
Based on distribution channel, the specialty stores segment accounted for about 42.6% share of the furniture market share in 2020 and is expected to experience growth at the highest CAGR of 4.5%.
Based on country, U.S. accounted for about 64.4% of the furniture market size and is expected to grow at a CAGR of 5.1%.
Key Benefits For Stakeholders
This report provides a quantitative analysis of current North America furniture market trends, estimations, and dynamics of the North America furniture market from 2021 to 2030 to identify the prevailing North America furniture market opportunities.
Porter's five forces analysis highlights the potency of the buyers and suppliers to enable stakeholders to make profit-oriented business decisions and strengthen their supplier–buyer network.
In-depth analysis of the North America furniture market segmentation assists to determine the prevailing market opportunities.
Major countries in each region are mapped according to their revenue contribution to the industry. The market player positioning segment facilitates benchmarking while providing a clear understanding of the present position of the key market players.
The report includes analyses of the regional as well as regional market, key players, market segments, application areas, and North America furniture market growth strategies.
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Davin Correa
Allied Market Research
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