Asia Pacific Luxury Furniture Market – Industry Analysis and Forecast (2019-2026)
Asia Pacific Luxury Furniture Market is expected to reach US$ XX Billion by 2026 from US$ XX Billion in 2019 at CAGR of 7.7%.
The report includes the analysis of impact of COVID-19 lock-down on the revenue of market leaders, followers, and disrupters. Since lock down was implemented differently in different regions and countries, impact of same is also different by regions and segments. The report has covered the current short term and long term impact on the market, same will help decision makers to prepare the outline for short term and long term strategies for companies by region.
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Rapid urbanization and industrialization across the region, rising permeation of online retailing in developing nations are manipulating customers for acquiring luxury furniture are expected to drive the market growth in the Asia Pacific luxury furniture market. An increase in the awareness of modern lifestyle and demand for eco-friendly furniture is expected to boost the market growth. On the other hand , high initial cost is limiting the growth in the luxury furniture market.
The wood segment is expected to hold the largest share of the market during the forecast period because of the wooden furniture is used for their beautiful natural look. Wooden furniture offers flexibility, durability and it is simple to maintain comfortably. Furthermore, furniture key players are introducing materials in the design of luxury furniture like metal, leather, glass to replace wood, which is expected to drive the market growth in the Asia Pacific luxury furniture market.
The Online sales segment is estimated to grow at a XX % rate of CAGR in the global luxury furniture market. Online retailing delivers more discounts and extensive options to purchase the furniture. The online platform becomes popular because of it provides the delivery to the doorstep by order of products. A consumer can compare the price of luxury furniture on different websites.
Domestic segment is expected to share US $ XX Mn share in the Asia Pacific luxury furniture market. The growth in the market is attributed to the rise in demand in the array of domestic applications such as bedroom, bathroom, kitchen, lighting, outdoor and others.
In terms of country, Asia Pacific luxury furniture market is segmented into the China, India, Japan, South Korea, Australia, and Rest of Asia Pacific. Among these, the India is estimated to hold the significant share in the Asia Pacific luxury furniture market in the forecast period because of the rise in income of the consumer, economic conditions, and influence of western culture in the India.
The objective of the report is to present a comprehensive analysis of Asia Pacific Luxury Furniture Market including all the stakeholders of the industry. The past and current status of the industry with forecasted market size and trends are presented in the report with the analysis of complicated data in simple language. The report covers all aspects of the industry with a dedicated study of key players that includes market leaders, followers and new entrants by region. PORTER, SVOR, PESTEL analysis with the potential impact of micro-economic factors by region on the market are presented in the report.
External as well as internal factors that are supposed to affect the business positively or negatively have been analysed, which will give a clear futuristic view of the industry to the decision-makers. The report also helps in understanding Asia Pacific Luxury Furniture Market dynamics, structure by analysing the market segments and project the Asia Pacific Luxury Furniture Market size. Clear representation of competitive analysis of key players by Type, price, financial position, product portfolio, growth strategies, and regional presence in the Asia Pacific Luxury Furniture Market make the report investor’s guide.
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Asia Pacific Luxury Furniture Market, by Material
• Glass
• Metal
• Plastic
• Leather
• Wood
Asia Pacific Luxury Furniture Market, by Distribution Channel
• Departmental Stores
• Online Sales
• Independent Furniture Retailers
• Factory Outlets
Asia Pacific Luxury Furniture Market, by End User
• Commercial
• Domestic
Asia Pacific Luxury Furniture Market, by Country
• China
• Japan
• India
• South Korea
• Australia
• Rest of Asia Pacific
Key Players, Asia Pacific Luxury Furniture Market
• JL&C Furniture Co. Ltd.
• PT. Wirasindo Santakarya
• McMichael furniture
• Kovacs Design furniture
• De Bruin-Judge Furniture Ltd.
• De Bruin-Judge Furniture Ltd.
• Dynamic Furniture Industries (M) Sdn Bhd
• Far fast furniture
• Falcon Incorporation PTE Ltd.
• Shanghai Casagi Furniture Ltd.
• Wegmans Furniture Industries Sdn Bhd
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