Living room furniture market is expected to grow at a CAGR of 4.5% by 2031. Furniture has become an integral part for human life since past. It is generally made up of plastic, wood and metal. Furniture is generally kept in house in order to make living environment comfortable. Tables, chairs, and sofa set are the major furniture being used in living room.

The global living room furniture market is growing at a fast pace and is anticipated to attain significant growth over the next seven years. Rising purchasing power of households along with change in lifestyle, as well as increasing trend of purchasing the living room furniture through an online channel is expected to bolster the growth of living room furniture market till 2031.

At present, North America region captured the major share in revenue of living room furniture market and is expected to dominate over the forecast period. Escalating real estate growth, increasing residential construction and growing personal disposable income in developing countries is anticipated to expand the living room furniture market in Asia pacific over the forecast period. Moreover, shortage of skilled labor especially in China and India, lack of better transport facilities and insufficient infrastructural facilities is likely to hinder the growth of the market.

The global living room furniture market is mainly concentrated in North America. Major players are adopting different market strategies to enter and enhance their market position and distribution network.     

Key Players Identified Across the Value Chain in the Living Room Furniture Market include but are not limited to:

Ashley Furniture, IKEA, Williams-Sonoma, Steelcase, Knoll Inc., Masco Corp, Sears Holdings Corp, KOKUYO Furniture Co.Ltd, Herman Miller Inc., and others

Historical & Forecast Period

This study report represents analysis of each segment from 2022 to 2032 considering 2023 as the base year. Compounded Annual Growth Rate (CAGR) for each of the respective segments estimated for the forecast period of 2024 to 2032.

The current report comprises of quantitative market estimations for each micro market for every geographical region and qualitative market analysis such as micro and macro environment analysis, market trends, competitive intelligence, segment analysis, porters five force model, top winning strategies, top investment markets, emerging trends and technological analysis, case studies, strategic conclusions and recommendations and other key market insights.

Research Methodology

The complete research study was conducted in three phases, namely: secondary research, primary research, and expert panel review. key data point that enables the estimation of Living Room Furniture market are as follows:

• Research and development budgets of manufacturers and government spending
• Revenues of key companies in the market segment
• Number of end users and consumption volume, price and value.
• Geographical revenues generate by countries considered in the report
• Micro and macro environment factors that are currently influencing the Living Room Furniture market and their expected impact during the forecast period.

Market forecast was performed through proprietary software that analyzes various qualitative and quantitative factors. Growth rate and CAGR were estimated through intensive secondary and primary research. Data triangulation across various data points provides accuracy across various analyzed market segments in the report. Application of both top down and bottom-up approach for validation of market estimation assures logical, methodical and mathematical consistency of the quantitative data.

Key questions answered in this report

• What are the key micro and macro environmental factors that are impacting the growth of Living Room Furniture market?
• What are the key investment pockets with respect to product segments and geographies currently and during the forecast period?
• Estimated forecast and market projections up to 2032.
• Which segment accounts for the fastest CAGR during the forecast period?
• Which market segment holds a larger market share and why?
• Are low and middle-income economies investing in the Living Room Furniture market?
• Which is the largest regional market for Living Room Furniture market?
• What are the market trends and dynamics in emerging markets such as Asia Pacific, Latin America, and Middle East & Africa?
• Which are the key trends driving Living Room Furniture market growth?
• Who are the key competitors and what are their key strategies to enhance their market presence in the Living Room Furniture market worldwide?