Asia-Pacific Luxury Furniture Market will Gain Momentum by 2014-2020 to Surpass $5.4 Billion

[sarika]

Asia-Pacific Luxury Furniture Market Report, published by Allied Market Research, forecasts that the global market is expected to garner $5.4 billion by 2020, registering a CAGR of 6.2% during the period 2015-2020. The key growth drivers for Asia-Pacific luxury furniture market include the rising disposable income, evolving consumer lifestyles and a notable increase in the GDPs of several countries in the region. Further, the rapid increase in the real-estate sector in this region, which majorly initiates the adoption of luxury furniture by both domestic as well as commercial users is one of the supplementing factors for the market growth. In addition to this, China is expected to observe the fastest growth, due to the rise in disposable income and rapid urbanization.

Asia-Pacific Luxury Furniture Market by Material (Metal, Plastic, Wood, Glass, Leather) and End Use (Domestic, Commercial) - Opportunity Analysis and Industry Forecast, 2014 - 2020

Key Findings of Asia-Pacific Luxury Furniture Market:
Wooden luxury furniture is expected to dominate the market, accounting for around 24% of the market revenue in 2014
From end-use perspective, market would be dominated by the domestic segment, which would further be led by the living & bedroom segment
Commercial end use segment would be dominated by the hospitality sector throughout the analysis period
China, followed by India, would be the two fastest growing markets over the forecast period

The major players operating in the region include :-
Shanghai JL&C Furniture Co., Ltd.
PT. Wirasindo Santakarya
McMichael Furniture
Kovacs Design Furniture
De Bruin-Judge Furniture Ltd. (DBJ)
Dynamic Furniture Industries (M) Sdn Bhd
Far East Furniture
Falcon Incorporation PTE Ltd.
Shanghai Casagi Furniture Ltd.
Wegmans Furniture Industries Sdn Bhd.

Growing Demand for Asia-Pacific Luxury Furniture Product through E-commerce

Asia-Pacific luxury furniture market exhibits intense competition. There are lot of domestic players operating in the market and launch of new products coupled with innovative designs are some of the key strategies adopted by the companies. Additionally, sales through e-commerce platforms help the market players to expand their reach and in turn boosts the overall market growth.

LIST OF TABLES

TABLE 1 APAC LUXURY FURNITURE MARKET REVENUE BY GEOGRAPHY, 2014-2020 ($MILLION)
TABLE 2 APAC LUXURY FURNITURE BASE CASE SCENARIO MARKET REVENUE BY COUNTRY, 2020-2025 ($MILLION)
TABLE 3 APAC LUXURY FURNITURE OPTIMISTIC CASE SCENARIO MARKET REVENUE BY COUNTRY, 2020-2025 ($MILLION)
TABLE 4 APAC LUXURY FURNITURE CRITICAL CASE SCENARIO MARKET REVENUE BY GEOGRAPHY, 2020-2025 ($MILLION)
TABLE 5 APAC LUXURY FURNITURE MARKET BY MATERIAL, 2014-2020 ($MILLION)
TABLE 6 APAC LUXURY FURNITURE METAL MATERIAL MARKET BY COUNTRY, 2014-2020 ($MILLION)
TABLE 7 APAC LUXURY FURNITURE WOOD MATERIAL MARKET BY COUNTRY, 2014-2020 ($MILLION)
TABLE 8 APAC LUXURY FURNITURE PLASTIC MATERIAL MARKET BY COUNTRY, 2014-2020 ($MILLION)
TABLE 9 APAC LUXURY FURNITURE GLASS MATERIAL MARKET BY COUNTRY, 2014-2020 ($MILLION)
TABLE 10 APAC LUXURY FURNITURE LEATHER MATERIAL MARKET BY COUNTRY, 2014-2020 ($MILLION)