RTA Furniture Industry Research Report 2020

Global RTA furniture market has been segmented on the basis of material type, end-use, distribution channel, and region. On the basis of material type, the market has been divided into wood, melamine, glass, steel, wrapped panels, finished foils, laminates, and lacquered panels. Among the material type, wood is expected to retain its dominance throughout the forecast period and expected to witness a moderate growth rate of 3.08% during the forecast period. The wood segment has been further divided into veneers, plywood, chipboard, and others. Veneers are one of the most popular furniture materials owing to their elegant finish and decorative look. Majority of the interior designers prefer wood veneer to improve the aesthetics of kitchen cabinets.

North America market has accounted for 29.72% market proportion in 2017 and expected to expand at a high growth rate of 4.07% during the forecast period. The growth of the RTA furniture market is anticipated to be driven by several factors. North America RTA furniture market Size is experiencing massive growth due to the increased spending capacity of the consumers, along with the growth in the real estate sector. Expansion of the RTA furniture product portfolio by the key manufacturers is one of the significant factors for the rising growth of the RTA furniture market in North America.

Europe has accounted for 25.21% market proportion in the global RTA furniture market and is projected to grow at a CAGR of 3.83% during the assessment period. Germany, France, and Italy are projected to be the major contributors to the growth of the Europe RTA furniture market. Europe is a lucrative market for RTA furniture manufacturers. The booming real estate sector is the major factor for the rising growth of the RTA furniture market in Europe. Technological advancement among furniture manufacturers is considered to be one of the major factors for the rising growth of the market over the last few years. The sales of luxury furniture have been increasing at a high pace in European countries owing to the high demand for the products in hotels, clubs, and restaurants. Product launch is one of the major trends gaining traction in the Europe RTA furniture market.

Asia-Pacific is expected to be the largest, by value, during the forecast period. The region has accounted for 35.78% of the overall market proportion in 2018. However, the region is projected to progress at a high growth rate of 3.59% during the forecast period. The growth of the RTA furniture market in Asia-Pacific is anticipated to be driven by various factors. Rising middle-income population group along with the urbanization in the developing economies is expected to be the significant factors for the rising growth of RTA furniture market in the Asia-Pacific region. Increasing investment in the hospitality industry is one of the noteworthy reasons for the rising growth of the RTA furniture market in the Asia-Pacific region. Moreover, the international hotel chains are increasing at stupendous growth rate over the last few years which is anticipated to increase the usage of RTA luxury furniture in the near future.

The global RTA furniture market has been segmented by material type, end-use, and distribution channel.

By material type, the RTA furniture market has been classified as wood, melamine, glass, steel, wrapped panels, finished foils, laminates, and lacquered panels. Apart from that, the wood segment is further divided into veneers, plywood, chipboard, and others. On the basis of end-use, RTA furniture market has been divided into commercial and household. The household segment is further divided into kitchen, bedroom, living room, storage, home office, and others. The global RTA furniture market has also been segregated, on the basis of distribution channel, into store-based and non-store-based.

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Some of the key players in the global RTA furniture market are Dorel Industries Inc. (Canada), Sauder Woodworking Company (US), Inter IKEA Systems B.V.(Netherlands), Cymax Group Inc. (Canada), Herman Miller, Inc. (US), HNI Corporation (US), Venture Horizon Corporation (US), Dunn’s Furniture (US), The Godrej and Boyce Mfg. Co. Ltd (India), and Kimball International, Inc. (US).

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