Global Folding Furniture Market Research Report Covers Historical Market Trends, Current Market Dynamics, Market Valuation by Segmentation as Well as Region, Country-level Analysis for Every Segment, Key Player’s Market Share Analysis, Competitive Landscape and Supply Chain Analysis.
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According to a recent study report published by the Market Research Future, The global market of Folding Furniture is booming and expected to gain prominence over the forecast period. The global Folding Furniture market is forecasted to demonstrate an exponential growth by 2023, surpassing its previous growth records in terms of value with a whooping, double digit CAGR of 5.8% during the estimated period (2016 – 2023).
Resource Furniture (U.S.), Expand Furniture (Canada), Meco Corporation (U.S), Ashley Furniture Industries Inc. (U.S.), IKEA Systems B.V. (Sweden), Murphy Bed (U.S.), La-Z-Boy Incorporated (U.S.), Flexfurn Ltd (Belgium), Gopak Ltd (U.K.), Nilkamal Limited (India)., Leggett & Platt, Inc. (U.S.), Dorel Industries Inc. (Canada) and among others are some of the prominent players profiled in MRFR Analysis and are at the forefront of competition in the Global Folding Furniture Market.
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Global Folding Furniture Market – Overview
Folding furniture is a apposite option for people living in smaller places or in studio apartments. It is the best alternative for traditional furniture. The multi-functionality and space saving features of this furniture, also enhance the decor of available space. Folding Furniture is generally used everywhere such as the, offices, hospitals, and hotels.
Currently, the Folding Furniture market is spurting mainly due to rapid industrialization and urbanization in the emerging economies such as China, India, Indonesia, Thailand, Brazil, and Mexico. Numerous people are shifting from rural to urban areas. Hence, swelling population and shortage of housing structures is spontaneously increases the value of existing limited space, where space saving furniture is the most suited option. Moreover, rising demand for decorative interior as well as low maintenance building products is also projected to generate growth opportunities for the market. However, fluctuating cost of raw material is the major factor may restrict the growth of the market.
Global Folding Furniture Market – Competitive Analysis
Global Folding Furniture Market appears to be highly fragmented and competitive owning to the presence of numerous large and medium players active in regional market. The key strategies traced from the analysis of recent developments of the key players include Product Launch, Agreement & Partnership, Acquisition and expansion. Strategic partnerships between Key players support the growth and expansion plans of the key players during the forecast period. On the product and sales side, companies are investing in innovation/R&D, brand building, and fostering strong relationships with customers to support their competitive position.
Manufacturers operating in the market strive to deliver innovative solutions that improve the design and manufacturing processes of business around the world. Focusing upon the competitive edge, Folding Furniture manufacturers strive to develop products that can deliver optimal efficient, convenience and reliability. Utilizing their international and regional presence, these manufacturers assure their customers with the consistency in product & service quality. Manufacturers strive to develop their product portfolio with a wide range of Folding Furniture for every application.
Industry News
Lifetime Products, Inc. a worldwide Utah-based manufacturer of folding tables and chairs, outdoor storage sheds and lawn and garden products completed the acquisition of LightHeaded Beds, LLC., of Park City UT, adding the company’s innovative lighting and furniture designs to Lifetime’s own lineup of family and home products.
Meco Corporation complete the acquisition of Stakmore, the highly regarded manufacturer of wood folding furniture to provide customers with a broader line of folding furniture options.
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Global Folding Furniture Market – Segmentation
Global Folding Furniture Market is segmented in to two key dynamics for an easy grasp and enhanced understanding.
On the basis of product, the market has been segmented as chairs, tables, sofas, beds, and other furniture. Among products, sofa accounted for the largest market share. Sofa is the so popular product as it improves the décor of the living room. Foldable beds segment is expected grow at the highest CAGR during the forecast period. Increasing bed designs such as murphy beds, wall beds, would raise the demand in near future.
On the basis of applications, the market has been segmented as residential and non-residential. Residential sector dominates the application segment of the market and is expected to grow at the highest CAGR during the forecast period. Growth in residential construction across the globe increases the demand of the market.
Segmentation by Regions: Comprises Geographical regions – North America, Europe, Asia Pacific and Rest of the World.
Global Folding Furniture Market – Regional Analysis
The Asia Pacific region dominates the global Folding Furniture market and is expected to grow at a highest CAGR during the forecast period. Increase in industrialization, rising urbanized population, and growing in spending capacity are the aspects driving the growth of the market in Asia Pacific region. In Beijing China, the average living area for per person is only 21 square meters. Therefore, folding furniture is the best suitable option to solve such a problem. This create the huge opportunity for the market in China. China, Japan, India, Indonesia, and Singapore are the major market in Asia Pacific region.
North America is the second-largest market for Folding Furniture. U.S. is the major contributor in global as well as North America folding furniture market. Europe is another major region for the global folding furniture market. It is expected contribute significantly mainly due to Increasing population and lesser living areas in region stimulating the growth of the market.
List of Tables
Table 1 Global Folding Furniture Market: by Region, 2017-2023
Table 2 North America Folding Furniture Market: by Country, 2017-2023
Table 3 Europe Folding Furniture Market: by Country, 2017-2023
Table 4 Asia Pacific Folding Furniture Market: by Country, 2017-2023
Table 5 Row Folding Furniture Market: by Country, 2017-2023
Table 6 Global Folding Furniture Market, by Product, by Regions, 2017-2023
Table 7 North America Folding Furniture Market, by Product, by Country, 2017-2023
Continued…….
List of Figure
Figure 1 Research Process of Mrfr
Figure 2 Top Down & Bottom Up Approach
Figure 3 Market Dynamics
Figure 4 Impact Analysis: Market Drivers
Figure 5 Impact Analysis: Market Restraints
Figure 6 Porter’s Five Forces Analysis
Figure 7 Value Chain Analysis
Continued…….
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