The Asia-Pacific region will create substantial growth opportunities for players in the luxury furniture market through 2014 – 2020
The luxury furniture market is expected to gross $5.4 billion by 2020, registering a CAGR of 6.2% during the period 2015-2020.
PORTLAND, 5933 NE WIN SIVERS DRIVE, #205, OR 97220, USA, March 21, 2022 /EINPresswire.com/ — Asia-Pacific Luxury Furniture Market Report, published by Allied Market Research, forecasts the global market to harvest 5 .4 billion by 2020, registering a CAGR of 6.2% during the period 2015-2020. Key growth drivers for the Asia Pacific luxury furniture market include rising disposable income, changing consumer lifestyles, and a notable increase in the GDP of several countries in the region. Furthermore, the rapid increase in the real estate sector in this region, which mainly initiates the adoption of luxury furniture by both domestic and commercial users, is one of the complementary factors driving the growth of the market. Additionally, China is expected to experience the fastest growth, due to rising disposable income and rapid urbanization.
Asia-Pacific Luxury Furniture Market by Material (Metal, Plastic, Wood, Glass, Leather) and End Use (Domestic, Commercial) – Opportunity Analysis and Industry Forecast, 2014-2020
Asia-Pacific Luxury Furniture Market Key Findings:
Luxury wooden furniture is expected to dominate the market, accounting for around 24% of market revenue in 2014
From an end-use perspective, the market would be dominated by the household segment, which would be further led by the living and bedroom segment
The commercial end-use segment would be dominated by the hospitality sector throughout the analysis period
China, followed by India, would be the two fastest growing markets during the forecast period
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Major players operating in the region include:-
Shanghai JL&C Furniture Co., Ltd.
PT. Wirasindo Santakarya
Kovacs Design Furniture
From Bruin-Judge Furniture Ltd. (DBJ)
Dynamic Furniture Industries (M) Sdn Bhd
Far Eastern Furniture
Falcon Incorporation PTE Ltd.
Shanghai Casagi Furniture Ltd.
Wegmans Furniture Industries Sdn Bhd.
Growing demand for luxury furniture products in Asia-Pacific through e-commerce
The luxury furniture market in Asia-Pacific faces intense competition. Many domestic players are operating in the market and launching new products coupled with innovative designs are some of the key strategies adopted by the companies. Moreover, sales through e-commerce platforms help market players to expand their reach and in turn drive the overall market growth.
1. Asia Pacific Luxury Furniture Market report by AMR offers in-depth study of global market share, key growth determinants, country-level position, segmental assessment, market outlook and key trends.
2. Porter’s five forces model, on the other hand, cites the effectiveness of buyers and sellers, which is important in helping market participants implement successful schemes. In addition, the research study includes,
– Threat of new competitors
– Threat of new replacements
– Bargaining power of suppliers as well as consumers
– Rivalry between the main players
3. An explicit analysis of driving and restraining factors of the Asia Pacific Luxury Furniture market is also provided in the report.
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LIST OF PAINTINGS
TABLE 1 APAC LUXURY FURNITURE MARKET REVENUE BY GEOGRAPHY, 2014-2020 ($MILLION)
TABLE 2 APAC LUXURY FURNITURE BASE SCENARIO MARKET REVENUE BY COUNTRY, 2020-2025 ($MILLION)
TABLE 3 APAC LUXURY FURNITURE OPTIMISTIC CASE SCENARIO MARKET REVENUE BY COUNTRY, 2020-2025 ($MILLION)
TABLE 4 APAC LUXURY FURNITURE CRITICAL CASE SCENARIO MARKET REVENUE BY GEOGRAPHY, 2020-2025 ($MILLION)
TABLE 5 APAC LUXURY FURNITURE MARKET BY MATERIAL, 2014-2020 ($MILLION)
TABLE 6 APAC LUXURY FURNITURE METALLIC MATERIALS MARKET BY COUNTRY, 2014-2020 ($MILLION)
TABLE 7 APAC LUXURY FURNITURE WOOD MATERIALS MARKET BY COUNTRY, 2014-2020 ($MILLION)
TABLE 8 APAC LUXURY FURNITURE PLASTICS MARKET BY COUNTRY, 2014-2020 ($MILLION)
TABLE 9 APAC GLASS MATERIALS FOR LUXURY FURNITURE MARKET BY COUNTRY, 2014-2020 ($MILLION)
TABLE 10 APAC LUXURY FURNITURE LEATHER MATERIALS MARKET BY COUNTRY, 2014-2020 ($MILLION)
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