Market Overview:
The global modular furniture market is expected to grow at a CAGR of 5.8% during the forecast period from 2018 to 2030. The growth in the modular furniture market can be attributed to various factors such as the growing demand for multifunctional furniture, rising disposable income, and increasing urbanization. The modular furniture market is segmented on the basis of type into tables, sofas, cabinets, beds, chairs, and others. The tables segment is expected to hold the largest share in the global modular furniture market during the forecast period owing to its multifunctionality and portability. The sofas segment is projected to grow at a high CAGR during the forecast period due to their growing popularity among consumers for their comfort and style quotient. On basis of application, household applications are expected dominatethe global modular furniture market throughoutthe forecastperiod followed by office applicationsand otherapplications segments respectively .
Product Definition:
Modular furniture is furniture that can be rearranged to fit the needs of the user. It is often made up of small, individual pieces that can be moved around to create different configurations. This type of furniture is popular in both homes and offices, as it allows people to customize their spaces to match their specific needs. Modular furniture can be used for a variety of purposes, including seating, storage, and desk space.
Tables:
Tables are the most common furniture item used in modular systems. They come in a variety of sizes, shapes and materials. The most important factor that influences the purchase decision of customers while purchasing tables is their functionality i.e.
Sofas:
Sofas are large, reclining chairs that were initially designed for use in hotels. The modern sofas and chair have a wide variety of applications in modular furniture as they provide the comfort and ease to sit for hours together. Modern sofas are available with a wide range of backrests, arms, frames, and even without arms or back support to provide maximum flexibility while using it in different pieces of furniture.
Application Insights:
The office application segment led the global modular furniture market and accounted for more than 45.0% share of the total revenue in 2017. The increasing number of startups and growing IT-based business enterprises are expected to drive the demand for modular furniture in offices over the forecast period.
The household application segment is expected to witness a significant growth rate over the forecast period owing to rising consumer spending on home dĩcor, which, in turn, will fuel product demand globally. Increasing purchasing power among consumers across various regions has enabled them to spend more on home improvement projects including furnishing their living spaces with new or old fashioned chairs and sofas that appeal aesthetically as well as serve functional purposes well.
Modular furniture can be used not only at homes but also at hotels, restaurants.
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 developing countries such as India, China, Indonesia among others. Increasing demand for home offices has also contributed significantly towards regional growth.
The European market is anticipated to witness significant growth over the forecast period owing to increasing awareness regarding advanced modular furniture solutions amongst consumers coupled with rising product availability at competitive prices compared to mass produced alternatives from traditional manufacturers. Moreover, high preference for natural wood products along with government support aimed at reducing carbon footprint are likely boost regional demand for modular furniture systems in Europe during the same period.
Growth Factors:
- Increasing demand for ergonomic furniture: The modular furniture market is expected to grow at a CAGR of 7.5% during the forecast period, owing to the increasing demand for ergonomic furniture. Ergonomically designed furniture helps in reducing fatigue and stress, which in turn improves productivity.
- Rising disposable income: The growth of the modular furniture market is also attributed to the rising disposable income of consumers across the globe. With an increase in purchasing power, consumers are increasingly opting for designer and customized modular furniture pieces that suit their needs and preferences.
- Growing popularity of open-plan offices: Modular office Furniture is gaining popularity due to its ability to create an open-plan office environment without sacrificing privacy or individual work spaces. This helps organizations save on space as well as reduce costs associated with traditional office set-ups .
Scope Of The Report
Report Attributes
Report Details
Report Title
Modular Furniture Market Research Report
By Type
Tables, Sofas, Cabinets, Beds, Chairs, Others
By Application
Household, Office Application, Other
By Companies
USM Modular Furniture, IKEA, Steelcase, West Elm, Williams Sonoma, TJX, Herman Miller, HNI Corporation, Okamura, Martela, Kimball International, KI, BYWAYINDIA, Krishna Office Furniture Systems, DM Modular, AFC SYSTEMS, Yash Modular Furniture, Quama
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
245
Number of Tables & Figures
172
Customization Available
Yes, the report can be customized as per your need.
Global Modular Furniture Market Report Segments:
The global Modular Furniture market is segmented on the basis of:
Types
Tables, Sofas, Cabinets, Beds, Chairs, 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
Household, Office Application, 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:
- USM Modular Furniture
- IKEA
- Steelcase
- West Elm
- Williams Sonoma
- TJX
- Herman Miller
- HNI Corporation
- Okamura
- Martela
- Kimball International
- KI
- BYWAYINDIA
- Krishna Office Furniture Systems
- DM Modular
- AFC SYSTEMS
- Yash Modular Furniture
- Quama
Highlights of The Modular 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
- Sofas
- Cabinets
- Beds
- Chairs
- Others
- By Application:
- Household
- Office Application
- 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 Modular 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?
Modular furniture is a type of furniture that is made up of multiple pieces that can be assembled or disassembled. This allows you to customize your furniture to fit your needs, and it can be moved around easily.
Some of the key players operating in the modular furniture market are USM Modular Furniture, IKEA, Steelcase, West Elm, Williams Sonoma, TJX, Herman Miller, HNI Corporation, Okamura, Martela, Kimball International, KI, BYWAYINDIA, Krishna Office Furniture Systems, DM Modular, AFC SYSTEMS, Yash Modular Furniture, Quama.
The modular furniture market is expected to grow at a compound annual growth rate of 5.8%.
1. Executive Summary
2. Assumptions and Acronyms Used
3. Research Methodology
4. Modular Furniture Market Overview
4.1. Introduction
4.1.1. Market Taxonomy
4.1.2. Market Definition
4.2. Macro-Economic Factors
4.2.1. Industry Outlook
4.3. Modular Furniture Market Dynamics
4.3.1. Market Drivers
4.3.2. Market Restraints
4.3.3. Opportunity
4.3.4. Market Trends
4.4. Modular Furniture Market - Supply Chain
4.5. Global Modular Furniture Market Forecast
4.5.1. Modular Furniture Market Size (US$ Mn) and Y-o-Y Growth
4.5.2. Modular Furniture Market Size (000 Units) and Y-o-Y Growth
4.5.3. Modular Furniture Market Absolute $ Opportunity
5. Global Modular Furniture Market Analysis and Forecast by Type
5.1. Market Trends
5.2. Introduction
5.2.1. Basis Point Share (BPS) Analysis by Type
5.2.2. Y-o-Y Growth Projections by Type
5.3. Modular Furniture Market Size and Volume Forecast by Type
5.3.1. Tables
5.3.2. Sofas
5.3.3. Cabinets
5.3.4. Beds
5.3.5. Chairs
5.3.6. Others
5.4. Absolute $ Opportunity Assessment by Type
5.5. Market Attractiveness/Growth Potential Analysis by Type
6. Global Modular Furniture Market Analysis and Forecast by Application
6.1. Market Trends
6.2. Introduction
6.2.1. Basis Point Share (BPS) Analysis by Application
6.2.2. Y-o-Y Growth Projections by Application
6.3. Modular Furniture Market Size and Volume Forecast by Application
6.3.1. Household
6.3.2. Office Application
6.3.3. Other
6.4. Absolute $ Opportunity Assessment by Application
6.5. Market Attractiveness/Growth Potential Analysis by Application
7. Global Modular Furniture Market Analysis and Forecast by Sales Channel
7.1. Market Trends
7.2. Introduction
7.2.1. Basis Point Share (BPS) Analysis by Sales Channel
7.2.2. Y-o-Y Growth Projections by Sales Channel
7.3. Modular Furniture Market Size and Volume Forecast by Sales Channel
7.3.1. Manufacturer/Distributor/Service Provider
7.3.2. Aftermarket
7.4. Absolute $ Opportunity Assessment by Sales Channel
7.5. Market Attractiveness/Growth Potential Analysis by Sales Channel
8. Global Modular Furniture Market Analysis and Forecast by Region
8.1. Market Trends
8.2. Introduction
8.2.1. Basis Point Share (BPS) Analysis by Region
8.2.2. Y-o-Y Growth Projections by Region
8.3. Modular Furniture Market Size and Volume Forecast by Region
8.3.1. North America
8.3.2. Latin America
8.3.3. Europe
8.3.4. Asia Pacific
8.3.5. Middle East and Africa (MEA)
8.4. Absolute $ Opportunity Assessment by Region
8.5. Market Attractiveness/Growth Potential Analysis by Region
8.6. Global Modular Furniture Demand Share Forecast, 2019-2026
9. North America Modular Furniture Market Analysis and Forecast
9.1. Introduction
9.1.1. Basis Point Share (BPS) Analysis by Country
9.1.2. Y-o-Y Growth Projections by Country
9.2. North America Modular Furniture Market Size and Volume Forecast by Country
9.2.1. U.S.
9.2.2. Canada
9.3. Absolute $ Opportunity Assessment by Country
9.4. North America Modular Furniture Market Size and Volume Forecast by Application
9.4.1. Household
9.4.2. Office Application
9.4.3. Other
9.5. Basis Point Share (BPS) Analysis by Application
9.6. Y-o-Y Growth Projections by Application
9.7. North America Modular Furniture Market Size and Volume Forecast by Type
9.7.1. Tables
9.7.2. Sofas
9.7.3. Cabinets
9.7.4. Beds
9.7.5. Chairs
9.7.6. Others
9.8. Basis Point Share (BPS) Analysis by Type
9.9. Y-o-Y Growth Projections by Type
9.10. Market Attractiveness/Growth Potential Analysis
9.10.1. By Country
9.10.2. By Product Type
9.10.3. By Application
9.10.4. By Sales Channel
9.11. North America Modular Furniture Demand Share Forecast, 2019-2026
10. Latin America Modular Furniture Market Analysis and Forecast
10.1. Introduction
10.1.1. Basis Point Share (BPS) Analysis by Country
10.1.2. Y-o-Y Growth Projections by Country
10.1.3. Latin America Average Pricing Analysis
10.2. Latin America Modular Furniture Market Size and Volume Forecast by Country
10.2.1. Brazil
10.2.2. Mexico
10.2.3. Rest of Latin America
10.3. Absolute $ Opportunity Assessment by Country
10.4. Latin America Modular Furniture Market Size and Volume Forecast by Application
10.4.1. Household
10.4.2. Office Application
10.4.3. Other
10.5. Basis Point Share (BPS) Analysis by Application
10.6. Y-o-Y Growth Projections by Application
10.7. Latin America Modular Furniture Market Size and Volume Forecast by Type
10.7.1. Tables
10.7.2. Sofas
10.7.3. Cabinets
10.7.4. Beds
10.7.5. Chairs
10.7.6. Others
10.8. Basis Point Share (BPS) Analysis by Type
10.9. Y-o-Y Growth Projections by Type
10.10. Market Attractiveness/Growth Potential Analysis
10.10.1. By Country
10.10.2. By Product Type
10.10.3. By Application
10.10.4. By Sales Channel
10.11. Latin America Modular Furniture Demand Share Forecast, 2019-2026
11. Europe Modular Furniture Market Analysis and Forecast
11.1. Introduction
11.1.1. Basis Point Share (BPS) Analysis by Country
11.1.2. Y-o-Y Growth Projections by Country
11.1.3. Europe Average Pricing Analysis
11.2. Europe Modular Furniture Market Size and Volume Forecast by Country
11.2.1. Germany
11.2.2. France
11.2.3. Italy
11.2.4. U.K.
11.2.5. Spain
11.2.6. Russia
11.2.7. Rest of Europe
11.3. Absolute $ Opportunity Assessment by Country
11.4. Europe Modular Furniture Market Size and Volume Forecast by Application
11.4.1. Household
11.4.2. Office Application
11.4.3. Other
11.5. Basis Point Share (BPS) Analysis by Application
11.6. Y-o-Y Growth Projections by Application
11.7. Europe Modular Furniture Market Size and Volume Forecast by Type
11.7.1. Tables
11.7.2. Sofas
11.7.3. Cabinets
11.7.4. Beds
11.7.5. Chairs
11.7.6. Others
11.8. Basis Point Share (BPS) Analysis by Type
11.9. Y-o-Y Growth Prjections by Type
11.10. Market Attractiveness/Growth Potential Analysis
11.10.1. By Country
11.10.2. By Product Type
11.10.3. By Application
11.10.4. By Sales Channel
11.11. Europe Modular Furniture Demand Share, 2019-2026
12. Asia Pacific Modular Furniture Market Analysis and Forecast
12.1. Introduction
12.1.1. Basis Point Share (BPS) Analysis by Country
12.1.2. Y-o-Y Growth Projections by Country
12.1.3. Asia Pacific Average Pricing Analysis
12.2. Asia Pacific Modular Furniture Market Size and Volume Forecast by Country
12.2.1. China
12.2.2. Japan
12.2.3. South Korea
12.2.4. India
12.2.5. Australia
12.2.6. Rest of Asia Pacific (APAC)
12.3. Absolute $ Opportunity Assessment by Country
12.4. Asia Pacific Modular Furniture Market Size and Volume Forecast by Application
12.4.1. Household
12.4.2. Office Application
12.4.3. Other
12.5. Basis Point Share (BPS) Analysis by Application
12.6. Y-o-Y Growth Projections by Application
12.7. Asia Pacific Modular Furniture Market Size and Volume Forecast by Type
12.7.1. Tables
12.7.2. Sofas
12.7.3. Cabinets
12.7.4. Beds
12.7.5. Chairs
12.7.6. Others
12.8. Basis Point Share (BPS) Analysis by Type
12.9. Y-o-Y Growth Projections by Type
12.10. Market Attractiveness/Growth Potential Analysis
12.10.1. By Country
12.10.2. By Product Type
12.10.3. By Application
12.10.4. By Sales Channel
12.11. Asia Pacific Modular Furniture Demand Share, 2019-2026
13. Middle East & Africa Modular Furniture Market Analysis and Forecast
13.1. Introduction
13.1.1. Basis Point Share (BPS) Analysis by Country
13.1.2. Y-o-Y Growth Projections by Country
13.1.3. Asia Pacific Average Pricing Analysis
13.2. Middle East & Africa Modular Furniture Market Size and Volume 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. Absolute $ Opportunity Assessment by Country
13.4. Middle East & Africa Modular Furniture Market Size and Volume Forecast by Application
13.4.1. Household
13.4.2. Office Application
13.4.3. Other
13.5. Basis Point Share (BPS) Analysis by Application
13.6. Y-o-Y Growth Projections by Application
13.7. Middle East & Africa Modular Furniture Market Size and Volume Forecast by Type
13.7.1. Tables
13.7.2. Sofas
13.7.3. Cabinets
13.7.4. Beds
13.7.5. Chairs
13.7.6. Others
13.8. Basis Point Share (BPS) Analysis by Type
13.9. Y-o-Y Growth Projections by Type
13.10. Market Attractiveness/Growth Potential Analysis
13.10.1. By Country
13.10.2. By Product Type
13.10.3. By Application
13.10.4. By Sales Channel
13.11. Middle East & Africa Modular Furniture Demand Share, 2019-2026
14. Competition Landscape
14.1. Global Modular Furniture Market: Market Share Analysis
14.2. Modular Furniture Distributors and Customers
14.3. Modular Furniture Market: Competitive Dashboard
14.4. Company Profiles (Details Overview, Financials, Developments, Strategy)
14.4.1. USM Modular Furniture
14.4.1.1. Overview
14.4.1.2. Financials
14.4.1.3. Developments
14.4.1.4. Strategic Outlook
14.4.2. IKEA
14.4.2.1. Overview
14.4.2.2. Financials
14.4.2.3. Developments
14.4.2.4. Strategic Outlook
14.4.3. Steelcase
14.4.3.1. Overview
14.4.3.2. Financials
14.4.3.3. Developments
14.4.3.4. Strategic Outlook
14.4.4. West Elm
14.4.4.1. Overview
14.4.4.2. Financials
14.4.4.3. Developments
14.4.4.4. Strategic Outlook
14.4.5. Williams Sonoma
14.4.5.1. Overview
14.4.5.2. Financials
14.4.5.3. Developments
14.4.5.4. Strategic Outlook
14.4.6. TJX
14.4.6.1. Overview
14.4.6.2. Financials
14.4.6.3. Developments
14.4.6.4. Strategic Outlook
14.4.7. Herman Miller
14.4.7.1. Overview
14.4.7.2. Financials
14.4.7.3. Developments
14.4.7.4. Strategic Outlook
14.4.8. HNI Corporation
14.4.8.1. Overview
14.4.8.2. Financials
14.4.8.3. Developments
14.4.8.4. Strategic Outlook
14.4.9. Okamura
14.4.9.1. Overview
14.4.9.2. Financials
14.4.9.3. Developments
14.4.9.4. Strategic Outlook
14.4.10. Martela
14.4.10.1. Overview
14.4.10.2. Financials
14.4.10.3. Developments
14.4.10.4. Strategic Outlook
14.4.11. Kimball International
14.4.11.1. Overview
14.4.11.2. Financials
14.4.11.3. Developments
14.4.11.4. Strategic Outlook
14.4.12. KI
14.4.12.1. Overview
14.4.12.2. Financials
14.4.12.3. Developments
14.4.12.4. Strategic Outlook
14.4.13. BYWAYINDIA
14.4.13.1. Overview
14.4.13.2. Financials
14.4.13.3. Developments
14.4.13.4. Strategic Outlook
14.4.14. Krishna Office Furniture Systems
14.4.14.1. Overview
14.4.14.2. Financials
14.4.14.3. Developments
14.4.14.4. Strategic Outlook
14.4.15. DM Modular
14.4.15.1. Overview
14.4.15.2. Financials
14.4.15.3. Developments
14.4.15.4. Strategic Outlook
14.4.16. AFC SYSTEMS
14.4.16.1. Overview
14.4.16.2. Financials
14.4.16.3. Developments
14.4.16.4. Strategic Outlook
14.4.17. Yash Modular Furniture
14.4.17.1. Overview
14.4.17.2. Financials
14.4.17.3. Developments
14.4.17.4. Strategic Outlook
14.4.18. Quama
14.4.18.1. Overview
14.4.18.2. Financials
14.4.18.3. Developments
14.4.18.4. Strategic Outlook
14.4.19. COMPANY 19
14.4.19.1. Overview
14.4.19.2. Financials
14.4.19.3. Developments
14.4.19.4. Strategic Outlook
14.4.20. COMPANY 20
14.4.20.1. Overview
14.4.20.2. Financials
14.4.20.3. Developments
14.4.20.4. Strategic Outlook
