Asia Pacific Metal Furniture Market By Application (Residential and Commercial), By Type (Bed, Chair, Sofa, Table and Others), By Distribution Channel (Specialty Stores, E-Commerce, Supermarket/Hypermarket and Direct distribution), By Country, Growth Potential, COVID-19 Impact Analysis Report and Forecast, 2021 - 2027
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Market Report Description
The Asia Pacific Metal Furniture Market would witness market growth of 10.7% CAGR during the forecast period (2021-2027).
The metal furniture market is expected to grow with the growing standard of living and real estate activities. Furthermore, as the real estate business expands, the development of residential and commercial institutions such as hotels, hospitals, residences, flats, and offices increase. The number of residential and commercial institutions is directly proportional to the demand for furniture installation. This aids in the expansion of the worldwide metal furniture market.
Moreover, due to technical improvements and personalization, furniture businesses have begun to gain traction in the market. Digitally controlled furniture and smart apps that provide virtual suggestions for interior decor are examples of technological advancements.
The rising urbanization in the emerging nations of this region like India, China, and Japan is among the key driving factors of the metal furniture market during the forecast period. The increasing number of hotels and restaurants, which utilize metal furniture, would augment the demand for the products in the market. Moreover, the increasing disposable income of the consumers is enabling them to spend more money on the interior or home décor would create lucrative opportunities for the key market players.
Furthermore, the high preference of people, hotels, or restaurant owners to use metal furniture in their premises would accelerate the regional demand for the market. Moreover, the expanding healthcare structure in the emerging nations is estimated to fuel the demand for metal furniture and thus, bolster the growth of the metal furniture market in the region.
The China market dominated the Asia Pacific E-Commerce Market by Country in 2020, thereby, achieving a market value of $8,184.5 million by 2027. The Japan market is showcasing a CAGR of 11% during (2021-2027). Additionally, The India market is poised to grow at a CAGR of 11.1% during (2021-2027).
Based on Application, the market is segmented into Residential and Commercial. Based on Type, the market is segmented into Bed, Chair, Sofa, Table and Others. Based on Distribution Channel, the market is segmented into Specialty Stores, E-Commerce, Supermarket/Hypermarket and Direct distribution. Based on countries, the market is segmented into China, Japan, India, South Korea, Singapore, Malaysia, and Rest of Asia Pacific.
The market research report covers the analysis of key stake holders of the market. Key companies profiled in the report include Godrej Group, Dorel Industries, Inc. (Dorel Home Products Furniture), Inter IKEA Systems B.V., Chyuan Chern Furniture Co., Ltd., Meco Corporation (Unaka Corporation), Hillsdale Furniture, Simpli Home, Oliver Metal Furniture, and Zinus, Inc.
Scope of the Study
Market Segments Covered in the Report:
By Distribution Channel
- Specialty Stores
- Direct distribution
- South Korea
- Rest of Asia Pacific
Key Market Players
List of Companies Profiled in the Report:
- Godrej Group
- Dorel Industries, Inc. (Dorel Home Products Furniture)
- Inter IKEA Systems B.V.
- Chyuan Chern Furniture Co., Ltd.
- Meco Corporation (Unaka Corporation)
- Hillsdale Furniture
- Simpli Home
- Oliver Metal Furniture
- Zinus, Inc.
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