Europe Sofa and Chair Market Growth Business Strategies and Forecast by 2026 | Exclusive Report by Facts Factors
According to Facts & Factors, the Europe sofa and chair market size in terms of revenue was worth around USD 74 billion in 2019 and is expected to reach USD 122 billion by 2026 growing at a CAGR of 6% from 2020 to 2026. The global e-clinical solution software market is projected to grow at a significant growth rate due to a number of driving factors.
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Both the sofa and the chair are indispensable pieces of furniture that are commonplace in homes, offices, and a variety of hospitality-related establishments. Both in terms of the production of sofas and chairs and the value of those sofas and chairs on the international market, Europe is an extremely important player in the industry. Europe is one of the leading regions in the world for the production of sofas and chairs, and it is home to some of the most well-known market players. It is generally agreed that Italy, Germany, and France are the leading exporting countries of sofas and chairs on a global scale.
France is also a major producer of chairs. The furniture industry in Europe has a long and illustrious history, and today, the most successful businesses in this sector combine time-honored aesthetics with cutting-edge manufacturing techniques. As a result, they are able to offer employment opportunities to trained workers and maintain a dominant position in international trade.
The commercial center for Europe Exports from European nations like Italy, Germany, and the United Kingdom are a significant contributor to the success of the sofa and chair industry. The export of sofas and chairs, which accounts for a significant 60 percent of the contribution to the total, is driving the expansion of the market in the region. These nations are well-known in the international market for their attractiveness as well as their traditional designs, which are of exceptionally high quality and reputation. Companies focus their efforts on developing 3D technologies that generate significant demand from international markets in order to maintain their position in the international market. The regional industry of sofas and chairs has been given a boost thanks to significant investments in technology as well as a business model that places an emphasis on industrial districts.
Additionally, an increase in disposable income among the working class all over the world, in conjunction with an improvement in the overall quality of life, is anticipated to foster an increase in demand for the market. The market demand increased as a result of both the growing number of residential and commercial construction projects as well as the rising number of new home and office purchases.
On the other hand, it is anticipated that the increasing average age of skilled workers will present a significant challenge to the market for sofas and chairs. In addition, the high cost of labor in European countries in comparison to the cost of labor in other regions of the market acts as a barrier to the expansion of the market. However, the introduction of multipurpose sofas and chairs that are flexible, take up less space, and satisfy the requirements of multiple users provides several opportunities for the market to grow. Opportunities for lucrative growth in the market for sofas and chairs have presented themselves as a result of the rising demand for smaller apartments among millennials.
Because there is such a vast selection of fabrics that can be purchased commercially, it is anticipated that the fabric sofa will eventually dominate the industry. A number of the major players also offer a feature that allows the customer to personalize the sofa to their liking by selecting the design, pattern, and color of the fabric that covers it. It is anticipated that the armchair will continue to hold a market share because of the widespread use it sees in commercial entities and organizations.
The function of the armrest on the chair is to position the hands so that they are resting on the rest of the chair, which protects the chair from being stressed by continuous work or any other operation that is performed while the user is seated on the chair. Because of its aesthetically pleasing architecture, people have a strong preference for the classic style. As a result, the classic style is increasingly being utilized in businesses and business premises, along with the growing demand for hotels and offices.
The top key players in the Europe Sofa and Chair Market are as follows:
- Roche Bobois
- Tom Dixon
- B&B Italia
- Poltrona Frau
- Ligne Roset
- Fritz Hansen
- Boca Do Lobo
The Europe Sofa and Chair Market are segmented as follows:
By Sofa Type Segmentation Analysis
- Leather Sofa
- Fabric Sofa
- Wood Sofa
By Chair Type Segmentation Analysis
- Backrest Chair
- Multifunctional Chair
- Folding Chair
- Lounge Chair
- Arm Chair
By Material Segmentation Analysis
By Style Segmentation Analysis
By Usage Segmentation Analysis
- Private Home
- Office Usage
By Application Segmentation Analysis
Regional Segmentation Analysis
- North America
- The U.S.
- The UK
- Rest of Europe
- Asia Pacific
- South Korea
- Southeast Asia
- Rest of Asia Pacific
- Latin America
- Rest of Latin America
- Middle East & Africa
- South Africa
- Rest of the Middle East & Africa
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