U.S. Furniture Market Report 2022: Rise in Housing Units Fueling 4.47% Growth – ResearchAndMarkets.com

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DUBLIN–(BUSINESS WIRE)–The report “U.S. Furniture Market: Outlook and Forecast with Potential Impact of COVID-19 (2022-2026)” has been added to from ResearchAndMarkets.com offer.

The US furniture market is expected to register a value of US$288.9 billion in 2026, growing at a CAGR of 4.47%, for the period 2022-2026. Factors such as increasing number of housing units, growing millennial population, rising consumer spending on furniture, rising social media penetration, and rapid urbanization would drive the growth of the market.

However, the growth of the market would be challenged by the issues related to deforestation and increasing furniture rental. A few notable trends may include the increase in furniture sales via e-commerce, the growing adoption of augmented reality, the growing interest in eco-friendly furniture, and the demand for more flexible workspaces.

Growing demand for multi-functional furniture is expected to bolster the growth prospects for furniture demand. As rooms get smaller and smaller, customers are increasingly looking for furniture that is compact and easily movable to make efficient use of the available space. To meet these demands, vendors are innovating with new products and introducing multifunctional furniture with storage facilities, which is a key trend in the US furniture market.

In terms of companies, Costco, Williams-Sonoma, MillerKnoll, Steelcase, HNI Corporation and Ashley Furniture Industries are the major players in the US furniture market. However, with technological advancements and product innovations, small and medium-sized enterprises are increasing their market presence by securing new contracts and tapping into new markets.

Market dynamics

Growth engines

  • Increase in the number of housing units

  • Millennial population growth

  • Rise in consumer spending on furniture

  • Growing social media penetration

  • Rapid urbanization

Key trends

  • Increase furniture sales via e-commerce

  • Growing Adoption of Augmented Reality

  • Request for a more flexible workspace

  • Growing interest in eco-friendly furniture

Challenges

  • Problem related to deforestation

  • Increase in furniture rental

Report scope

  • The report provides a comprehensive analysis of the US furniture market

  • Market dynamics such as growth drivers, market trends, and challenges are analyzed in depth.

  • The competitive landscape of the market, along with company profiles of key players (Costco, Williams-Sonoma, MillerKnoll, Steelcase, HNI Corporation, and Ashley Furniture Industries) are also presented in detail.

Key target audience

  • furniture manufacturers

  • raw material suppliers

  • Potential audience

  • Investment banks

  • Government agencies and regulatory authorities

Main topics covered:

1. Market Overview

2. Impact of COVID-19

3. Analysis of the American market

4. Market dynamics

5. Competitive Landscape

6. Company Profiles

Companies cited

  • Costco

  • Ashley Furniture Industries

  • HNI Company

  • MillerKnoll

  • Steel case

  • Williams Sonoma

For more information about this report visit https://www.researchandmarkets.com/r/hh7if9

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