Market Research Report
India Furniture Market By Supply(Domestic & Imported), Sector Type(Organized & Unorganized), Type(Home Furniture, Office Furniture & Institutional Furniture), Product Type, Point of Sale, Raw Material Type, Competition, Forecast & Opportunities, 2024
|Published by||TechSci Research||Product code||833165|
|Published||Content info||122 Pages
Delivery time: Inquiry
|India Furniture Market By Supply(Domestic & Imported), Sector Type(Organized & Unorganized), Type(Home Furniture, Office Furniture & Institutional Furniture), Product Type, Point of Sale, Raw Material Type, Competition, Forecast & Opportunities, 2024|
|Published: April 1, 2019||Content info: 122 Pages||
India furniture market stood at $ 21 billion in 2018 and is projected to grow to over $ 31 billion by 2024, exhibiting a CAGR of around 7% during 2019-2024, on account of growing real estate and hospitality industries. Other key factors expected to drive the market are increasing government investments in infrastructure development and rising demand for luxury and premium furniture from certain consumer sections. Additionally, rising disposable income is influencing expenditure on comfortable lifestyle, which is expected to provide growth opportunities to furniture market players in the coming years.
In terms of supply, India furniture market is categorized into domestic and imported segments. Among the types of supply, domestic category accounted for majority of the country's furniture market in 2018 and the trend is expected to continue in the coming years. The unorganized segment dominates India furniture market, as it offers cheaper products in comparison to the ones available through the organized category. Moreover, product customization availability in the unorganized sector is also expected to aid the segment's leading market position during the forecast period.
Years considered for this report:
Historical Years: 2014-2017
Base Year: 2018
Estimated Year: 2019
Forecast Period: 2020-2024
Some of the major players operating in India furniture market are Godrej & Boyce Manufacturing Company Limited, Nilkamal Limited, Durian Industries Limited, Forte Furniture Products India Private Limited, Haworth India Private Limited, Featherlite Office Systems Pvt. Ltd., Usha Shriram Enterprises Pvt. Ltd., Damro Furniture Private Limited, Dynasty Modular Furniture Pvt. Ltd. and IKEA India Private Limited.
TechSci Research performed both primary as well as exhaustive secondary research for this study. Initially, TechSci Research sourced a list of furniture manufacturers across the country. Subsequently, TechSci Research conducted primary research surveys with the identified companies. While interviewing, the respondents were also enquired about their competitors. Through this technique, TechSci Research could include the manufacturers which could not be identified due to the limitations of secondary research. TechSci Research analyzed the product offerings, distribution channels and presence of all major manufacturers across the country.
TechSci Research calculated India furniture market size using a top down approach, where data for various applications across various end-user segments was recorded and forecast for the future years. TechSci Research sourced these values from the industry experts and company representatives and externally validated through analyzing historical data of these product types and applications for getting an appropriate, overall market size. Various secondary sources such as company websites, news articles, press releases, company annual reports, investor presentations and financial reports were also studied by TechSci Research.
The study is useful in providing answers to several critical questions that are important for industry stakeholders such as manufacturers, partners and end users. The study would also help them in identifying which market segments should be targeted over the coming years in order to strategize investments and capitalize on growth of the market.
In this report, India furniture market has been segmented into following categories, in addition to the industry trends which have also been detailed below:
Company Profiles: Detailed analysis of the major companies operating in India furniture market.
With the given market data, TechSci Research offers customizations according to a company's specific needs. The following customization options are available for the report:
Profit Margin Analysis