The market value is set to grow by USD 3.73 billion, progressing at a CAGR of 3% from 2020 to 2025. With ISO 9001:2015 certification, Technavio is proudly partnering with more than 100 Fortune 500 companies for over 16 years.
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Regional Analysis & Forecasts
34% of the market's growth will originate from APAC during the forecast period. China and Japan are the key markets for outdoor furniture in APAC. Market growth in this region will be faster than the growth of the market in other regions.
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Key Market Dynamics
The increasing demand for patio heating products in commercial and residential spaces will be one of the significant factors fueling outdoor furniture market growth during the forecast period. Free-standing and tabletop patio heaters are widely preferred in the hospitality industry for their aesthetic appeal. With the increasing number of bars, dine-outs, pubs, party lounges, cafes, and restaurants, the demand for patio heaters is expected to proliferate. In addition to commercial spaces, the need for patio heaters is also increasing for residential users. Rising awareness about the benefits of patio heaters has contributed to this growing demand from residential customers.
The long replacement cycle will be a major challenge for the outdoor furniture market during the forecast period. Branded, superior-quality furniture, including outdoor furniture, does not require frequent replacements. Superior quality furniture made of wood is characterized by a longer replacement cycle than furniture made of cheap materials such as plastic. The high initial cost and long replacement cycle of outdoor furniture products would hinder the growth of the market. The average life of outdoor furniture products lasts for 7 to 9 years. Major furniture manufacturers offer product warranties and guarantees, which further increase product life spans. This discourages the repeat purchase of furniture. The revenue of the global furniture market, including the global outdoor furniture market, is cyclic. Thus, the long replacement cycle of furniture restricts frequent sales of outdoor furniture, thereby hampering the growth of the global outdoor furniture market.
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Segmentation Analysis & Forecasts
The outdoor furniture market share growth by the outdoor furniture and accessories segment will be significant during the forecast period.
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Major Companies of the Market
- Ashley Furniture Industries Inc.
- Berkshire Hathaway Inc.
- Century Furniture LLC
- Gloster Furniture GmbH
- Haworth Inc.
- Herman Miller Inc.
- Inter IKEA Holding BV
- The Home Depot Inc.
- TUUCI LLC
- Williams-Sonoma Inc.
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Key Topics Covered:
- Executive Summary
- Market Landscape
- Market Sizing
- Five Forces Analysis
- Market Segmentation
- Customer landscape
- Geographic Landscape
- Vendor Landscape
- Vendor Analysis
- Appendix
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Outdoor Furniture Market Scope |
Report Coverage |
Details |
Page number |
120 |
Base year |
2020 |
Forecast period |
2021-2025 |
Growth momentum & CAGR |
Accelerate at a CAGR of 3% |
Market growth 2021-2025 |
$ 3.73 billion |
Market structure |
Fragmented |
YoY growth (%) |
2.26 |
Regional analysis |
North America, APAC, Europe, South America, and MEA |
Performing market contribution |
APAC at 34% |
Key consumer countries |
US, China, Germany, UK, and Japan |
Competitive landscape |
Leading companies, competitive strategies, consumer engagement scope |
Companies profiled |
Ashley Furniture Industries Inc., Berkshire Hathaway Inc., Century Furniture LLC, Gloster Furniture GmbH, Haworth Inc., Herman Miller Inc., Inter IKEA Holding BV, The Home Depot Inc., TUUCI LLC, and Williams-Sonoma Inc. |
Market Dynamics |
Parent market analysis, Market growth inducers and obstacles, Fast-growing and slow-growing segment analysis, COVID 19 impact and future consumer dynamics, market condition analysis for forecast period. |
Customization preview |
If our report has not included the data that you are looking for, you can reach out to our analysts and get segments customized. |
Table of Contents
Executive Summary
Market Landscape
- Market ecosystem
- Value chain analysis
Market Sizing
- Market definition
- Market segment analysis
- Market size 2020
- Market outlook: Forecast for 2020 - 2025
Five Forces Analysis
- Bargaining power of buyers
- Bargaining power of suppliers
- Threat of new entrants
- Threat of substitutes
- Threat of rivalry
- Market condition
Market Segmentation by Product
- Market segments
- Comparison by Product
- Outdoor furniture and accessories - Market size and forecast 2020-2025
- Outdoor grills and accessories - Market size and forecast 2020-2025
- Patio heating products - Market size and forecast 2020-2025
- Market opportunity by Product
Market Segmentation by End-user
- Market segments
- Residential - Market size and forecast 2020-2025
- Commercial - Market size and forecast 2020-2025
Market Segmentation by Distribution channel
- Market segments
- Comparison by Distribution channel
- Offline - Market size and forecast 2020-2025
- Online - Market size and forecast 2020-2025
- Market opportunity by Distribution channel
Customer landscape
Geographic Landscape
- Geographic segmentation
- Geographic comparison
- North America - Market size and forecast 2020-2025
- APAC - Market size and forecast 2020-2025
- Europe - Market size and forecast 2020-2025
- South America - Market size and forecast 2020-2025
- MEA - Market size and forecast 2020-2025
- Key leading countries
- Market opportunity by geography
- Market drivers
- Market challenges
- Market trends
Vendor Landscape
- Overview
- Landscape disruption
Vendor Analysis
- Vendors covered
- Market positioning of vendors
- Ashley Furniture Industries Inc.
- Berkshire Hathaway Inc.
- Century Furniture LLC
- Gloster Furniture GmbH
- Haworth Inc.
- Herman Miller Inc.
- Inter IKEA Holding BV
- The Home Depot Inc.
- TUUCI LLC
- Williams-Sonoma Inc.
Appendix
- Scope of the report
- Currency conversion rates for US$
- Research methodology
- List of abbreviations
About Us
Technavio is a leading global technology research and advisory company. Their research and analysis focuses on emerging market trends and provides actionable insights to help businesses identify market opportunities and develop effective strategies to optimize their market positions. With over 500 specialized analysts, Technavio's report library Their client base consists of enterprises of all sizes, including more than 100 Fortune 500 companies. This growing client base relies on Technavio's comprehensive coverage, extensive research, and actionable market insights to identify opportunities in existing and potential markets and assess their competitive positions within changing market scenarios.
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SOURCE Technavio
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