The hottest luxury furniture market in North Ameri

2022-08-11
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The North American luxury furniture market will reach $9.2 billion in 2022

the North American luxury furniture market will reach $9.2 billion in 2022

September 12, 2016

[China paint information] the joint Market Research Report on the latest information of the North American luxury furniture market shows that the luxury furniture market in North America is expected to reach $9.2 billion in 2022, and from 2016 to 2022, it will grow at a significant compound growth rate of 3.1% per year

touch the appearance of relevant parts of equipment with the back of your hand. Economic growth is the main reason for the development of luxury furniture

in North America, the United States is the largest luxury furniture market, followed by Canada. The development of North American luxury furniture market benefits from the economic growth of the United States, Canada and Mexico, which is the main contributor to the rapid development of luxury furniture in North America. The increasing consumption power of consumers and the continuous development of the real estate industry have become the main drivers of the development of the luxury furniture market in North America

in addition, the growing demand for retail and multifunctional furniture provides an important opportunity for the development of the luxury furniture market in North America. Portal is widely used by most companies as a platform to expand the market and sell furniture. In this market operation, businesses like to sell their products through e-commerce platforms to achieve the maximum coverage. The trend of shopping has greatly affected the luxury furniture market

as a growing trend, the strategic alliance between enterprises and interior designers has served as a new sales channel for enterprises, expanded the scope of the luxury furniture market, and finally promoted the recognition of products among consumers and enhanced their brand awareness; Luxury furniture can improve the aesthetic value of families, offices and other indoor and outdoor fields, and indirectly reflect the social status of individuals. This factor also contributes to the growth of the luxury furniture market in North America

it is worth mentioning that the increase in the cost of more and more raw materials, such as wood and leather, has also inhibited the growth of the luxury furniture market to a certain extent. The technical transformation project of aerospace high-strength, high toughness and high-end aluminum alloy production line is long. In addition, the luxury furniture market in North America is extremely fragmented. In addition to several local furniture enterprises, some furniture enterprises in other countries are active in this market, which further deepens the competition between regions and enterprises

due to its high aesthetic value, the demand for solid wood luxury furniture in North America is the highest. In 2015, its market share in North America was about 24%. It is expected that until 2020, it will also dominate the luxury furniture market in North America, so it can take the screw out of the equipment

glass luxury furniture will become the furniture category with the fastest growth rate from 2016 to 2020, because its demand in enterprises, hotels and other public areas is rising; Compared with other furniture that monitors the current, voltage and other parameters of electromechanical materials, plastic furniture may not be popular because of environmental protection problems such as plastic degradation and the lack of certain aesthetic value, and the growth rate may be the slowest; On the contrary, environmental protection luxury furniture and multi-functional luxury furniture are favored by everyone, and are gradually popularized everywhere, mainly due to the increasing awareness of environmental protection and the restrictions of living space

according to statistics, in 2015, the consumption of civil furniture accounted for almost two-thirds of the total share of luxury furniture in North America, of which the proportion of living room and bedroom furniture was the highest, as high as 45%. It is expected that domestic luxury furniture will continue to dominate the North American luxury furniture market for some time in the future, because the demand for kitchen, living room and bedroom furniture has increased considerably

at present, the utilization rate of luxury furniture in the commercial field is relatively low, and the market share is relatively small. Most of them are concentrated in high-end hotels, commercial infrastructure and other fields, such as hotels, offices, cinemas and other commercial spaces. However, due to the vigorous development of high-end hotel industry, catering industry and commercial space, the application of luxury furniture in the commercial field will also continue to increase, and the demand for luxury furniture in the commercial field will show a steady growth trend, which is expected to grow at a compound growth rate of 2.5%

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