Thursday, February 16, 2012

GLOBAL FURNITURE AND FIXTURES INDUSTRY IS EXPECTED TO REACH TO REACH US$436.5 BILLION BY 2015

 

The furniture market operates in close call with the housing industry which was severely affected by the economic downturn. Despite the recovery, growth remains unstable as customer confidence continues to waver in view of the volatile economic environment in Europe, soaring gasoline costs and subdued employment rates.
 
With no significant increase in personal incomes or in sale of homes, the furniture market is yet to pick up pace. Faced with declining margins and intensely competitive conditions, several manufacturers shifted their production operations to emerging nations as part of efforts to cut costs. Furniture sales are expected to recover with improvement in housing sales.
 
Factors such as value and product mix, innovative marketing and capacity to maintain and deliver inventories of fabric and furniture frames continue to influence sales of furniture. Though replacement sales offer potential opportunities, reduced discretionary spending and prolonged replacement cycles continue to hamper growth prospects.
 
While the growing levels of sophistication of modern lifestyles will continue to drive gains in this market, the present financial troubles are casting the spotlight on cost effective, mass-market products.
 
Long-term growth in the global furniture and fixtures market is expected from Asia, owing to steady economic growth and rising standards of living. Further, increasing migration towards urban areas, rising disposable incomes, and changing lifestyles are expected to offer favorable prospects for market participants.
 
Flourishing property industry and tourist industry in developing economies is expected to foster the demand for hotel and residential furniture, along with other high-end products. Globalization and changing consumer behavior is contributing to the increased demand for luxury furniture in emerging markets such as China, Russia, India, and Brazil.
 
Manufacturers are increasingly opting to produce furniture from alternative material and recycled products such as wood from old buildings or reclaimed wood, thereby driving the demand for green furniture.
 
The research report titled “Furniture and Fixtures: A Global Outlook” announced by Global Industry Analysts, Inc., provides a collection of statistical anecdotes, market briefs, and concise summaries of research findings. The report offers an aerial view of the global industry, identifies major short to medium term market challenges, and growth drivers.
 
Market discussions in the report are punctuated with fact-rich market data tables. Regional markets elaborated upon include United States, Canada, Japan, France, Germany, UK, Russia, China, India, Korea, Brazil, Mexico, Saudi Arabia, and UAE, among others.

Comments

Name
URL
Email
Email address is not published
Remember Me
Comments

CAPTCHA Reload
Write the characters in the image above