Furniture Industry - Regional Synopsis
APAC Market Statistics
Asia Pacific industry is expected to hold largest revenue share of 40% by 2037. The region is growing due to the advancements in the construction sector and the demand for smart furniture. Economic growth and the increasing disposable income are responsible for the furniture market growth in China. According to a report, China was the leading furniture exporter with an export value of around USD 80 billion in 2022. The growth driving for Korea is the increase in purchasing capacity and demand for office furniture. In 2024, the market of South Korea is reportedly around USD 10 Billion. The market in India is expected to reach USD 32.7 Billion by 2026 owing to the increasing demand from people living in urban areas and the presence of skilled labor.
North American Market Analysis
North American region in furniture market is set to exhibit lucrative CAGR till 2037. The region is flourishing owing to the demand for sustainable furniture, expansion for commercial and residential sectors, and rising demand for home furnishings. As per a recent analysis, North America is estimated to generate a revenue of nearly USD 292 Billion in 2024. High demand for Bedroom furniture and the expanding affordability are driving growth in the market in the United States. The furniture market in the United States is expected to grow at a CAGR of 4% from (2024-29). The market in Canada is being driven by high-rise demand from the commercial sector and the production of customized wooden furniture. In 2021, the market size of institutions and offices in Canada generated a revenue of USD 3.323 Billion.
