$7.6 Billion Australia Furniture Market in 2021 Driven by Growing Urban Population

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Oct 29, 2021, 09:45 ET

DUBLIN, Oct. 29, 2021 /PRNewswire/ -- The "Australia Furniture Market, By Product Type (Home Furniture, Office Furniture and Institutional Furniture), By Point of Sale (Exclusive Showrooms, Supermarkets/Hypermarkets, Online and Others), By Raw Material Type, By Company, By Region, Forecast & Opportunities, 2025" report has been added to ResearchAndMarkets.com's offering.

The Australian Furniture Market was valued USD 7.76 Billion in 2019 and is predicted to be valued USD 8.78 Billion by 2025.

Favorable economic factors such as rapid urban infrastructure developments, growing demand from residential as well as non-residential sectors coupled with encouraging government policies and low mortgage interest rates, have provided a conducive operating environment for furniture industry and pushed furniture demand through the years.

The Australian Furniture Market is driven by growing urban population and increasing spending pattern for comfortable lifestyle. Also, online availability of furniture for permanent or rental use is positively influencing the growth of the market over the next few years. However, volatile prices of raw materials used in the manufacture of furniture can hamper the growth of the market.

The Australian Furniture Market is segmented based on product type, point of sale, raw material type, company and region. Based on raw material type, the market is segmented into wood, plastic, metal and others. Out of which, the wood segment dominated the market with share of 55.31% in 2019 and the segment is anticipated to maintain its leading position during the forecast period as well on account of the benefits offered by wood when compared to other materials such as high strength & durability, cost effectiveness, ease of maintenance, among many others. In terms of product type, the market is fragmented into home furniture, office furniture and institutional furniture. The home furniture segment is estimated to grow at a high pace in over the years to come which is attributable to growing demand for furniture in living room and bedroom.

The major players operating in the furniture market are IKEA Pty Limited, Steelcase Australia Pty. Ltd, Herman Miller (Aust.) Proprietary Limited, Haworth Australia Pty Limited, Greenlit Brands Pty Limited, HNI Corporation, Knoll Inc., Sebel Pty Ltd., Schiavello Group Pty. Ltd., Harvey Norman Holdings Limited, Bfx Australia Pty Ltd, Amart Furniture Pty Ltd, D D K Commercial Interiors Pty Ltd , Bentons Kitchens Pty Ltd, AKD Softwoods Pty Ltd, Chiswell Furniture Pty Ltd , Forty Winks Franchising Pty Ltd, Furnware Group Pty Ltd, Fuller Furniture and others. Major companies are adopting competitive strategies such as product innovation and increasing presence in the country in order to register sound return.

Years considered for this report:

Historical Years: 2015-2018
Base Year: 2019
Estimated Year: 2020
Forecast Period: 2021-2025

Objective of the Study:

To analyze and estimate the market size of the Australian Furniture Market from 2015 to 2018.
To estimate and forecast the market size of the Australian Furniture Market from 2019 to 2025 and growth rate until 2025.
To classify and forecast the Australian Furniture Market based on product type, distribution channel, raw material type, company and regional distribution.
To identify dominant region or segment in the Australian Furniture Market.
To identify drivers and challenges for the Australian Furniture Market.
To examine competitive developments such as expansions, new product launches, mergers & acquisitions, etc., in the Australian Furniture Market.
To conduct pricing analysis for the Australian Furniture Market.
To identify and analyze the profile of leading players operating in the Australian Furniture Market.
To identify key sustainable strategies adopted by market players in the Australian Furniture Market.

The publisher performed both primary as well as exhaustive secondary research for this study. Initially, the publisher sourced a list of manufacturers across the country. Subsequently, the publisher conducted primary research surveys with the identified companies. While interviewing, the respondents were also enquired about their competitors. Through this technique, the publisher could include the manufacturers which could not be identified due to the limitations of secondary research. The publisher analyzed the manufacturers, distribution channels and presence of all major players across the country.

The publisher calculated the market size of the Australian Furniture Market by using a bottom-up approach, wherein data for various end-user segments was recorded and forecast for the future years. The publisher sourced these values from the industry experts and company representatives and externally validated through analyzing historical data of these product types and applications for getting an appropriate, overall market size. Various secondary sources such as company websites, news articles, press releases, company annual reports, investor presentations and financial reports were also studied.

Key Target Audience:

Furniture manufacturers
Market research and consulting firms
Government bodies such as regulating authorities and policy makers
Organizations, forums and alliances related to furniture

The study is useful in providing answers to several critical questions that are important for the industry stakeholders such as manufacturers, suppliers and partners, end-users, etc., besides allowing them in strategizing investments and capitalizing on the market opportunities.

Report Scope:

In this report, the Australian Furniture Market has been segmented into following categories, in addition to the industry trends which have also been detailed below:

Australia Furniture Market, By Product Type:

Home Furniture
Office Furniture
Institutional Furniture

Australia Furniture Market, By Point of Sale:

Exclusive Showrooms
Supermarkets/Hypermarkets
Online
Others

Australia Furniture Market, By Raw Material Type:

Wood
Plastic
Metal
Others

Australia Furniture Market, By Region:

New South Wales
Victoria
Queensland
Western Australia
Northern Territory & South Australia
Tasmania

Companies Mentioned

IKEA Pty Limited
Steelcase Australia Pty. Ltd
Herman Miller (Aust.) Proprietary Limited
Haworth Australia Pty Limited
Greenlit Brands Pty Limited
HNI Corporation
Knoll Inc.
Sebel Pty Ltd.
Schiavello Group Pty. Ltd
Harvey Norman Holdings Limited
Bfx Australia Pty Ltd
Amart Furniture Pty Ltd
D D K Commercial Interiors Pty Ltd
Bentons Kitchens Pty Ltd
AKD Softwoods Pty Ltd
Chiswell Furniture Pty Ltd
Forty Winks Franchising Pty Ltd
Furnware Group Pty Ltd
Fuller Furniture

For more information about this report visit https://www.researchandmarkets.com/r/3n7fwl

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Research and Markets
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[email protected]

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