Market Overview:
The global commercial luxury furniture market is expected to grow at a CAGR of 5.8% during the forecast period from 2018 to 2030. The market growth can be attributed to the increasing demand for luxury furniture in the hospitality and office applications. Additionally, rising disposable income and growing awareness about luxurious lifestyle are also propelling the growth of this market. Based on type, tables, chairs & sofas, bedroom furniture, cabinets and accessories are some of the key segments of this market. Tables & chairs together accounted for around one-third share of the global commercial luxury furniture market in 2017 and is projected to grow at a CAGR of 6% during 2018-2030. Bedroom furniture segment is anticipated to witness highest growth rate over next 10 years owing to increasing demand from hotels across different regions worldwide. Cabinets segment is estimated account for around one-fifth share by 2030 end while other types such as lighting fixtures, rugs & carpets etc.
Product Definition:
Commercial luxury furniture is a type of furniture that is designed for use in commercial spaces. It is often more expensive and luxurious than traditional office furniture, and it can be used to create a more elegant or professional look in a business setting. Commercial luxury furniture can be used in reception areas, meeting rooms, boardrooms, and other common areas in a business.
Tables:
Tables are used in commercial luxury furniture to provide a surface on which other items can be placed or displayed. They are available in various sizes, shapes and materials. The most commonly used material for tables is wood; however, glass, stone and metal are also widely used.
Chairs & Sofas:
Chairs & sofas are the most popular and trending items in the commercial luxury furniture market. It has been observed that consumers prefer to have a comfortable seating place while watching television, reading books or just relaxing at home. This is increasing demand for chairs and sofas in offices, hotels, homes etc., which will boost the growth of this market during forecast period.
Application Insights:
The office application segment led the global market and accounted for more than 54.0% share of the total revenue in 2017. The demand for commercial furniture in the office is generally higher as compared to that at home as most of the people spend most of their time at work. This has resulted in a higher product demand from offices over recent years.
The hospitality sector emerged as one of the fastest-growing segments, with a CAGR exceeding 8% from 2018 to 2030 owing to an increase in travel and tourism activities globally coupled with rising spending power of high net worth individuals (HNWI). HNWI¢â‚¬â„¢s regard hotels not only provide comfort but also create an ambience that can enhance customer loyalty and make them repeat customers thereby driving hotel construction which subsequently driving product demand globally.
Regional Analysis:
Asia Pacific dominated the global market in 2017 and is expected to continue its dominance over the forecast period. The growth of this region can be attributed to increasing disposable income, growing population, and rising real estate sector in countries such as China and India. Furthermore, government initiatives encouraging people to invest in residential space are likely to contribute towards regional growth. For instance, according to a survey conducted by Hong Kong Housing Society (HKHS), around 40% of Hong Kong residents plan on investing more than HKD 100 million (USD X million) for their dream home; 20% aim on spending between USD X million and HKD 100 million; while 10% plan on spending less than USD X million for their homes’ purchase price.
Europe was estimated at USD X billion in 2017 owing to high demand from several key markets including Germany, France Italy Russia Spain U .K.
Growth Factors:
- Increasing disposable income of the population: The commercial luxury furniture market is expected to grow as the disposable income of the population increases. This is because people would be more inclined to spend on luxurious items such as furniture when they have more money to spare.
- Rising demand for customized furniture: There is a growing demand for customized luxury furniture, which offers greater flexibility and individuality in terms of design and style. This trend is likely to fuel growth in the commercial luxury furniture market in the coming years.
- Growing popularity of home staging: Home staging has become increasingly popular in recent years, as it can help homeowners sell their homes faster and at a higher price point. Luxury home furnishings are an important part of home staging, and this is expected to drive growth in the commercial luxury furniture market over the next few years.
Scope Of The Report
Report Attributes
Report Details
Report Title
Commercial Luxury Furniture Market Research Report
By Type
Tables, Chairs & Sofas, Bedroom, Cabinets, Accessories, Others
By Application
Hospitality, Office, Other
By Companies
Restoration Hardware, Hooker Furniture Corporation, Knoll, Kimball, Molteni Group, Poltrona Frau, Roche Bobois, Scavolini S.p.A., B&B Italia, Minotti, Ligne Roset, Paola Lenti, Kettal, Ethimo, Manutti, Oasiq, Brown Jordan, Gloster, Sifas, Dedon, Mamagreen, Fermob, Tuuci, Skagerak, Janus et Cie, Lloyd Flanders, Vondom
Regions Covered
North America, Europe, APAC, Latin America, MEA
Base Year
2021
Historical Year
2019 to 2020 (Data from 2010 can be provided as per availability)
Forecast Year
2030
Number of Pages
162
Number of Tables & Figures
114
Customization Available
Yes, the report can be customized as per your need.
Global Commercial Luxury Furniture Market Report Segments:
The global Commercial Luxury Furniture market is segmented on the basis of:
Types
Tables, Chairs & Sofas, Bedroom, Cabinets, Accessories, Others
The product segment provides information about the market share of each product and the respective CAGR during the forecast period. It lays out information about the product pricing parameters, trends, and profits that provides in-depth insights of the market. Furthermore, it discusses latest product developments & innovation in the market.
Applications
Hospitality, Office, Other
The application segment fragments various applications of the product and provides information on the market share and growth rate of each application segment. It discusses the potential future applications of the products and driving and restraining factors of each application segment.
Some of the companies that are profiled in this report are:
- Restoration Hardware
- Hooker Furniture Corporation
- Knoll
- Kimball
- Molteni Group
- Poltrona Frau
- Roche Bobois
- Scavolini S.p.A.
- B&B Italia
- Minotti
- Ligne Roset
- Paola Lenti
- Kettal
- Ethimo
- Manutti
- Oasiq
- Brown Jordan
- Gloster
- Sifas
- Dedon
- Mamagreen
- Fermob
- Tuuci
- Skagerak
- Janus et Cie
- Lloyd Flanders
- Vondom
Highlights of The Commercial Luxury Furniture Market Report:
- The market structure and projections for the coming years.
- Drivers, restraints, opportunities, and current trends of market.
- Historical data and forecast.
- Estimations for the forecast period 2030.
- Developments and trends in the market.
- By Type:
- Tables
- Chairs & Sofas
- Bedroom
- Cabinets
- Accessories
- Others
- By Application:
- Hospitality
- Office
- Other
- Market scenario by region, sub-region, and country.
- Market share of the market players, company profiles, product specifications, SWOT analysis, and competitive landscape.
- Analysis regarding upstream raw materials, downstream demand, and current market dynamics.
- Government Policies, Macro & Micro economic factors are also included in the report.
We have studied the Commercial Luxury Furniture Market in 360 degrees via. both primary & secondary research methodologies. This helped us in building an understanding of the current market dynamics, supply-demand gap, pricing trends, product preferences, consumer patterns & so on. The findings were further validated through primary research with industry experts & opinion leaders across countries. The data is further compiled & validated through various market estimation & data validation methodologies. Further, we also have our in-house data forecasting model to predict market growth up to 2030.
Regional Analysis
- North America
- Europe
- Asia Pacific
- Middle East & Africa
- Latin America
Note: A country of choice can be added in the report at no extra cost. If more than one country needs to be added, the research quote will vary accordingly.
The geographical analysis part of the report provides information about the product sales in terms of volume and revenue in regions. It lays out potential opportunities for the new entrants, emerging players, and major players in the region. The regional analysis is done after considering the socio-economic factors and government regulations of the countries in the regions.
How you may use our products:
- Correctly Positioning New Products
- Market Entry Strategies
- Business Expansion Strategies
- Consumer Insights
- Understanding Competition Scenario
- Product & Brand Management
- Channel & Customer Management
- Identifying Appropriate Advertising Appeals
8 Reasons to Buy This Report
- Includes a Chapter on the Impact of COVID-19 Pandemic On the Market
- Report Prepared After Conducting Interviews with Industry Experts & Top Designates of the Companies in the Market
- Implemented Robust Methodology to Prepare the Report
- Includes Graphs, Statistics, Flowcharts, and Infographics to Save Time
- Industry Growth Insights Provides 24/5 Assistance Regarding the Doubts in the Report
- Provides Information About the Top-winning Strategies Implemented by Industry Players.
- In-depth Insights On the Market Drivers, Restraints, Opportunities, and Threats
- Customization of the Report Available
Frequently Asked Questions?
Commercial luxury furniture is furniture that is typically used in high-end commercial settings, such as hotels and restaurants. This type of furniture typically features a higher price tag than traditional home furnishings, and is often made from more expensive materials, such as wood or metal. Commercial luxury furniture can also be designed to look more luxurious than typical home furnishings, with ornate details or intricate patterns.
Some of the key players operating in the commercial luxury furniture market are Restoration Hardware, Hooker Furniture Corporation, Knoll, Kimball, Molteni Group, Poltrona Frau, Roche Bobois, Scavolini S.p.A., B&B Italia, Minotti, Ligne Roset, Paola Lenti, Kettal, Ethimo, Manutti, Oasiq, Brown Jordan, Gloster, Sifas, Dedon, Mamagreen, Fermob, Tuuci, Skagerak, Janus et Cie, Lloyd Flanders, Vondom.
The commercial luxury furniture market is expected to register a CAGR of 5.8%.
Chapter 1 Executive Summary
Chapter 2 Assumptions and Acronyms Used
Chapter 3 Research Methodology
Chapter 4 Commercial Luxury Furniture Market Overview
4.1 Introduction
4.1.1 Market Taxonomy
4.1.2 Market Definition
4.1.3 Macro-Economic Factors Impacting the Market Growth
4.2 Commercial Luxury Furniture Market Dynamics
4.2.1 Market Drivers
4.2.2 Market Restraints
4.2.3 Market Opportunity
4.3 Commercial Luxury Furniture Market - Supply Chain Analysis
4.3.1 List of Key Suppliers
4.3.2 List of Key Distributors
4.3.3 List of Key Consumers
4.4 Key Forces Shaping the Commercial Luxury Furniture Market
4.4.1 Bargaining Power of Suppliers
4.4.2 Bargaining Power of Buyers
4.4.3 Threat of Substitution
4.4.4 Threat of New Entrants
4.4.5 Competitive Rivalry
4.5 Global Commercial Luxury Furniture Market Size & Forecast, 2018-2028
4.5.1 Commercial Luxury Furniture Market Size and Y-o-Y Growth
4.5.2 Commercial Luxury Furniture Market Absolute $ Opportunity
Chapter 5 Global Commercial Luxury Furniture Market Analysis and Forecast by Type
5.1 Introduction
5.1.1 Key Market Trends & Growth Opportunities by Type
5.1.2 Basis Point Share (BPS) Analysis by Type
5.1.3 Absolute $ Opportunity Assessment by Type
5.2 Commercial Luxury Furniture Market Size Forecast by Type
5.2.1 Tables
5.2.2 Chairs & Sofas
5.2.3 Bedroom
5.2.4 Cabinets
5.2.5 Accessories
5.2.6 Others
5.3 Market Attractiveness Analysis by Type
Chapter 6 Global Commercial Luxury Furniture Market Analysis and Forecast by Applications
6.1 Introduction
6.1.1 Key Market Trends & Growth Opportunities by Applications
6.1.2 Basis Point Share (BPS) Analysis by Applications
6.1.3 Absolute $ Opportunity Assessment by Applications
6.2 Commercial Luxury Furniture Market Size Forecast by Applications
6.2.1 Hospitality
6.2.2 Office
6.2.3 Other
6.3 Market Attractiveness Analysis by Applications
Chapter 7 Global Commercial Luxury Furniture Market Analysis and Forecast by Region
7.1 Introduction
7.1.1 Key Market Trends & Growth Opportunities by Region
7.1.2 Basis Point Share (BPS) Analysis by Region
7.1.3 Absolute $ Opportunity Assessment by Region
7.2 Commercial Luxury Furniture Market Size Forecast by Region
7.2.1 North America
7.2.2 Europe
7.2.3 Asia Pacific
7.2.4 Latin America
7.2.5 Middle East & Africa (MEA)
7.3 Market Attractiveness Analysis by Region
Chapter 8 Coronavirus Disease (COVID-19) Impact
8.1 Introduction
8.2 Current & Future Impact Analysis
8.3 Economic Impact Analysis
8.4 Government Policies
8.5 Investment Scenario
Chapter 9 North America Commercial Luxury Furniture Analysis and Forecast
9.1 Introduction
9.2 North America Commercial Luxury Furniture Market Size Forecast by Country
9.2.1 U.S.
9.2.2 Canada
9.3 Basis Point Share (BPS) Analysis by Country
9.4 Absolute $ Opportunity Assessment by Country
9.5 Market Attractiveness Analysis by Country
9.6 North America Commercial Luxury Furniture Market Size Forecast by Type
9.6.1 Tables
9.6.2 Chairs & Sofas
9.6.3 Bedroom
9.6.4 Cabinets
9.6.5 Accessories
9.6.6 Others
9.7 Basis Point Share (BPS) Analysis by Type
9.8 Absolute $ Opportunity Assessment by Type
9.9 Market Attractiveness Analysis by Type
9.10 North America Commercial Luxury Furniture Market Size Forecast by Applications
9.10.1 Hospitality
9.10.2 Office
9.10.3 Other
9.11 Basis Point Share (BPS) Analysis by Applications
9.12 Absolute $ Opportunity Assessment by Applications
9.13 Market Attractiveness Analysis by Applications
Chapter 10 Europe Commercial Luxury Furniture Analysis and Forecast
10.1 Introduction
10.2 Europe Commercial Luxury Furniture Market Size Forecast by Country
10.2.1 Germany
10.2.2 France
10.2.3 Italy
10.2.4 U.K.
10.2.5 Spain
10.2.6 Russia
10.2.7 Rest of Europe
10.3 Basis Point Share (BPS) Analysis by Country
10.4 Absolute $ Opportunity Assessment by Country
10.5 Market Attractiveness Analysis by Country
10.6 Europe Commercial Luxury Furniture Market Size Forecast by Type
10.6.1 Tables
10.6.2 Chairs & Sofas
10.6.3 Bedroom
10.6.4 Cabinets
10.6.5 Accessories
10.6.6 Others
10.7 Basis Point Share (BPS) Analysis by Type
10.8 Absolute $ Opportunity Assessment by Type
10.9 Market Attractiveness Analysis by Type
10.10 Europe Commercial Luxury Furniture Market Size Forecast by Applications
10.10.1 Hospitality
10.10.2 Office
10.10.3 Other
10.11 Basis Point Share (BPS) Analysis by Applications
10.12 Absolute $ Opportunity Assessment by Applications
10.13 Market Attractiveness Analysis by Applications
Chapter 11 Asia Pacific Commercial Luxury Furniture Analysis and Forecast
11.1 Introduction
11.2 Asia Pacific Commercial Luxury Furniture Market Size Forecast by Country
11.2.1 China
11.2.2 Japan
11.2.3 South Korea
11.2.4 India
11.2.5 Australia
11.2.6 South East Asia (SEA)
11.2.7 Rest of Asia Pacific (APAC)
11.3 Basis Point Share (BPS) Analysis by Country
11.4 Absolute $ Opportunity Assessment by Country
11.5 Market Attractiveness Analysis by Country
11.6 Asia Pacific Commercial Luxury Furniture Market Size Forecast by Type
11.6.1 Tables
11.6.2 Chairs & Sofas
11.6.3 Bedroom
11.6.4 Cabinets
11.6.5 Accessories
11.6.6 Others
11.7 Basis Point Share (BPS) Analysis by Type
11.8 Absolute $ Opportunity Assessment by Type
11.9 Market Attractiveness Analysis by Type
11.10 Asia Pacific Commercial Luxury Furniture Market Size Forecast by Applications
11.10.1 Hospitality
11.10.2 Office
11.10.3 Other
11.11 Basis Point Share (BPS) Analysis by Applications
11.12 Absolute $ Opportunity Assessment by Applications
11.13 Market Attractiveness Analysis by Applications
Chapter 12 Latin America Commercial Luxury Furniture Analysis and Forecast
12.1 Introduction
12.2 Latin America Commercial Luxury Furniture Market Size Forecast by Country
12.2.1 Brazil
12.2.2 Mexico
12.2.3 Rest of Latin America (LATAM)
12.3 Basis Point Share (BPS) Analysis by Country
12.4 Absolute $ Opportunity Assessment by Country
12.5 Market Attractiveness Analysis by Country
12.6 Latin America Commercial Luxury Furniture Market Size Forecast by Type
12.6.1 Tables
12.6.2 Chairs & Sofas
12.6.3 Bedroom
12.6.4 Cabinets
12.6.5 Accessories
12.6.6 Others
12.7 Basis Point Share (BPS) Analysis by Type
12.8 Absolute $ Opportunity Assessment by Type
12.9 Market Attractiveness Analysis by Type
12.10 Latin America Commercial Luxury Furniture Market Size Forecast by Applications
12.10.1 Hospitality
12.10.2 Office
12.10.3 Other
12.11 Basis Point Share (BPS) Analysis by Applications
12.12 Absolute $ Opportunity Assessment by Applications
12.13 Market Attractiveness Analysis by Applications
Chapter 13 Middle East & Africa (MEA) Commercial Luxury Furniture Analysis and Forecast
13.1 Introduction
13.2 Middle East & Africa (MEA) Commercial Luxury Furniture Market Size Forecast by Country
13.2.1 Saudi Arabia
13.2.2 South Africa
13.2.3 UAE
13.2.4 Rest of Middle East & Africa (MEA)
13.3 Basis Point Share (BPS) Analysis by Country
13.4 Absolute $ Opportunity Assessment by Country
13.5 Market Attractiveness Analysis by Country
13.6 Middle East & Africa (MEA) Commercial Luxury Furniture Market Size Forecast by Type
13.6.1 Tables
13.6.2 Chairs & Sofas
13.6.3 Bedroom
13.6.4 Cabinets
13.6.5 Accessories
13.6.6 Others
13.7 Basis Point Share (BPS) Analysis by Type
13.8 Absolute $ Opportunity Assessment by Type
13.9 Market Attractiveness Analysis by Type
13.10 Middle East & Africa (MEA) Commercial Luxury Furniture Market Size Forecast by Applications
13.10.1 Hospitality
13.10.2 Office
13.10.3 Other
13.11 Basis Point Share (BPS) Analysis by Applications
13.12 Absolute $ Opportunity Assessment by Applications
13.13 Market Attractiveness Analysis by Applications
Chapter 14 Competition Landscape
14.1 Commercial Luxury Furniture Market: Competitive Dashboard
14.2 Global Commercial Luxury Furniture Market: Market Share Analysis, 2019
14.3 Company Profiles (Details – Overview, Financials, Developments, Strategy)
14.3.1 Restoration Hardware
14.3.2 Hooker Furniture Corporation
14.3.3 Knoll
14.3.4 Kimball
14.3.5 Molteni Group
14.3.6 Poltrona Frau
14.3.7 Roche Bobois
14.3.8 Scavolini S.p.A.
14.3.9 B&B Italia
14.3.10 Minotti
14.3.11 Ligne Roset
14.3.12 Paola Lenti
14.3.13 Kettal
14.3.14 Ethimo
14.3.15 Manutti
14.3.16 Oasiq
14.3.17 Brown Jordan
14.3.18 Gloster
14.3.19 Sifas
14.3.20 Dedon
14.3.21 Mamagreen
14.3.22 Fermob
14.3.23 Tuuci
14.3.24 Skagerak
14.3.25 Janus et Cie
14.3.26 Lloyd Flanders
14.3.27 Vondom
