The “Folding Furniture Market” Share is set to witness immense growth during the forecast period 2016-2022. This intelligence report offers an in-depth analysis of the market size, share, growth, opportunity, competitive landscape, manufacturers/players/vendor’s analysis, segments & sub-segments, and forecast. The report also focuses on market drivers, challenges (current and future), revenue growth, future roadmap, standardization, deployment models, and forecast analysis. Folding Furniture Market is projected to grow at a CAGR of 6.8% from 2016 to 2022, to reach $13 billion by 2022.
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Increase in raw material prices is expected to hamper folding furniture market growth
Manufacturers of furniture have seen an increase in raw material (steel, wood, foam, leather) prices in the recent years. In addition, cost of coatings and finishing has also increased, which has resulted in price hike for steel furniture in the U.S. and China. Moreover, prices are high for fibers and foams as well, which may also hamper the market growth.
To mitigate such a situation, manufacturers have cut their costs and added new equipment and techniques to obtain efficient output. This factor is expected to have a long-term effect on the market as it is not predictable the duration for which the raw material prices would remain high.
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Major Key Players Included:
Ashley Furniture Industries, Flexsteel Industries, Inc., Home Depot, Inc., La-Z-Boy Inc., Leggett & Platt Inc.
Furniture manufacturers are taking efforts to innovate their furniture products pertaining to the needs of consumers. For instance, wall bed that is designed to offer space saving solution for tiny houses and studio apartments is very easy to pull down and push back to the wall. Another example of such type of furniture includes bookshelves that transform into beds and coffee tables that convert into dining tables.
Key Benefits
- The study provides an in-depth analysis of the global folding furniture market, with current trends and future estimations to elucidate the imminent investment pockets.
- It presents a quantitative analysis from 2014 to 2022, which is expected to enable the stakeholders to capitalize on prevailing market opportunities.
- Actual historical figures for 2014 and 2015 and provides forecasts for 2016 to 2022, considering 2015 as base, are listed.
- Competitive intelligence highlights the business practices followed by leading players across various regions.
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