Global Ready to Assemble Furniture Market Analysis, Drivers, Restraints, Opportunities, Threats, Trends, Applications, and Growth Forecast to 2028
Global Ready to Assemble Furniture Market: Overview
"The Ready to Assemble Furniture Market size is expected to be worth around US$ xx Billion by 2021 from US$ X.xx million in 2031, growing at a CAGR of X.x% during the forecast period 2021 to 2031."
RTA furniture is also known as kit furniture, knock-down furniture (KD), or flat pack furniture. Ready to assemble furniture is one of the fastest growing segments of the furniture market worldwide. It is a type of stuff which are separately packaged in different cartons, which customers assemble. RTA furniture are purchased for a number of purposes such as, wardrobes, bookcases, office furniture living room furniture, lounge ware, swing sets, tables, beds, patio sets, outdoor furniture, etc.
Global Ready to Assemble Furniture Market: Dynamics
A major factor driving growth of the global ready-to-assemble furniture market are rising disposable income level and increasing awareness about convenience of ready-to-assemble furniture.
In addition, increasing population, changing living standard, growing real estate sector, and rising urbanization and industrialization worldwide are some other factors expected to drive the growth of the target market over the forecast period.
However, complexity in logistic and supply chain and fluctuating raw materials process are some of the factors expected to restraint the growth of the target market to a certain extent.
Global Ready to Assemble Furniture Market: Trends
The major players are focusing on entering into alliances and launching new product in order to expand their product offering worldwide, and is the current trend witnessed in the target market currently.
For instance, in September 2018, Wayfair, Inc. – an American e-commerce company that sells home goods and Cosmopolitan Magazine introduced new furniture line – including Rugs America, Dorel Home, and Westport Linens
Global Ready to Assemble Furniture Market: Segmental Analysis
Based on end user, residential RTA furniture segment is expected to register high growth and maintain its dominance over the forecast period. This is due to rising disposable income and changing customer buying patterns.
Based on distribution channel, online retail stores segment is expected to register highest growth rate owing to higher internet penetration and growing e-commerce sector.
Global Ready to Assemble Furniture Market: Regional Analysis
In 2018, the market in North America accounted to register high growth over the forecast period. This is primarily due to changing consumer preferences and the growing trend of customized RTA furniture for personal interiors in the region. The market in Asia Pacific accounted for register significant growth over the forecoming years. This can be due to, increasing urbanization and higher demand for home and office furniture are some major factors expected to drive revenue growth of the Asia Pacific ready to assemble furniture market. The markets in Europe is expected to account for moderate revenue share in the global market, owing to trend of innovative product designs followed by Latin America, and Middle East & Africa markets in the global ready to assemble furniture market.
Global Ready to Assemble Furniture Market Segmentation:
Segmentation by end user:
- Residential RTA Furniture
- Commercial RTA Furniture
Segmentation by distribution channel:
- Offline Retail Stores
- Online Retail Stores
Segmentation by region:
- North America
- Asia Pacific
- Latin America
- Middle East & Africa
Attribute Report Details Market Size Ask For Market Size Growth Rate Ask For Growth Rate Key Companies Ask For Companies Report Coverage Revenue analysis, Competitive landscape, Key company analysis, Market Trends, Key segments, Distribution Channel, Market Dynamics, COVID-19 Impact Analysis and more… Historical Data Period 2015-2020 Base Year 2022 Forecast Period 2022-2031 Region Scope North America, Europe, Asia-Pacific, South America, Middle East & Africa Country Scope United States, Canada and Mexico, Germany, France, UK, Russia and Italy, China, Japan, Korea, India and Southeast Asia, Brazil, Argentina, Colombia etc.Saudi Arabia, UAE, Egypt, Nigeria and South Africa Revenue in US$ Mn
- Inter IKEA Systems B.V.
- Dorel Industries Inc.
- Ashley Home Stores, Ltd.
- Steinhoff International Holdings N.V.
- Tvilum A/S
- Simplicity Sofas
- Home Reserve, LLC
- Sauder Woodworking Company
- FabriTec Structures
- Bush Industries, Inc.
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