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U.S. Furniture Market: Insights & Forecast with Potential Impact of COVID-19 (2022-2026)

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    Report

  • 87 Pages
  • September 2022
  • Region: United States
  • Koncept Analytics
  • ID: 5648689
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The U.S. furniture market is expected to record a value of US$288.9 billion in 2026, growing at a CAGR of 4.47%, for the time period of 2022-2026. Factors such as surge in the number of housing units, growth in millennial population, rising consumer spending on furniture, escalating penetration of social media and rapid urbanization would drive the growth of the market. However, the market growth would be challenged by problem related to deforestation and rise in furniture rental. A few notable trends may include increasing furniture sales via ecommerce, rising adoption of augmented reality, increasing interest in eco-friendly furniture and demand for more flexible workspaces.

The rising demand for multifunctional furniture is expected to bolster the growth prospects of the furniture demand. As rooms are getting smaller, customers are increasingly looking for compact and easily movable furniture to allow for efficient use of the available space. To cater to such requirements, the vendor companies are innovating with new product and introducing multifunctional furniture with storage facilities, which is acting as a key trend in the U.S. furniture market.

In terms of companies, Costco, Williams-Sonoma, MillerKnoll, Steelcase, HNI Corporation and Ashley Furniture Industries are top players in the U.S. furniture market. However, with technological advancements and product innovations, mid-size to smaller companies are increasing their market presence by securing new contracts and tapping into new markets.

Scope of the report

  • The report provides a comprehensive analysis of the U.S. furniture market
  • The market dynamics such as growth drivers, market trends and challenges are analyzed in-depth.
  • The competitive landscape of the market, along with the company profiles of leading players (Costco, Williams-Sonoma, MillerKnoll, Steelcase, HNI Corporation and Ashley Furniture Industries) are also presented in detail.

Key Target Audience

  • Furniture Manufacturers
  • Raw Material Suppliers
  • Potential Audience
  • Investment Banks
  • Government Bodies & Regulating Authorities

Please note: 10% free customization equates to up to 3 hours of analyst time.

Table of Contents

1. Market Overview
1.1 Introduction
1.2 Major Functional Categories of Furniture
1.3 Importance of Furniture in House
1.4 Top Materials Used in Furniture Manufacturing
1.5 Factors Determined While Buying Furniture
1.6 Furniture Industry Production Value Chain
2. Impact of COVID-19
2.1 Impact on Industrial Production
2.2 Impact on Furniture Stores Sales
2.3 Impact on Office Furniture Sales
3. The U.S. Market Analysis
3.1 The U.S. Furniture Market by Value
3.2 The U.S. Furniture Market Forecast by Value
3.3 The U.S. Furniture Market by Product Category
3.3.1 The U.S. Living Room Furniture Market by Value
3.3.2 The U.S. Living Room Furniture Market Forecast  by Value
3.3.3 The U.S. Bedroom Furniture Market by Value
3.3.4 The U.S. Bedroom Furniture Market Forecast by Value
3.3.5 The U.S. Kitchen & Dining Furniture Market by Value
3.3.6 The U.S. Kitchen & Dining Furniture Market Forecast by Value
3.3.7 The U.S. Lamp & Lighting Market by Value
3.3.8 The U.S. Lamp & Lighting Market Forecast by Value
3.3.9 The U.S. Floor Covering Market by Value
3.3.10 The U.S. Floor Covering Market Forecast by Value
3.3.11 The U.S. Home Office Furniture Market by Value
3.3.12 The U.S. Home Office Furniture Market Forecast by Value
3.3.13 The U.S. Outdoor Furniture Market by Value
3.3.14 The U.S. Outdoor Furniture Market Forecast by Value
3.4 The U.S. Wooden Furniture Import Value
3.5 The U.S. Wooden Furniture Import by Country
3.5.1 The U.S. Wooden Furniture Import Value by Country
4. Market Dynamics
4.1 Growth Drivers
4.1.1 Surge in Number of Housing Units
4.1.2 Growth in Millennial Population
4.1.3 Rising Consumer Spending on Furniture
4.1.4 Escalating Penetration of Social Media
4.1.5 Rapid Urbanization
4.2 Key Trends
4.2.1 Increasing Furniture Sales via Ecommerce
4.2.2 Rising Adoption of Augmented Reality
4.2.3 Demand for More Flexible Workspace
4.2.4 Increasing Interest in Eco-Friendly Furniture
4.3 Challenges
4.3.1 Problem Related to Deforestation
4.3.2 Rise in Furniture Rental
5. Competitive Landscape
5.1 The U.S. Market
5.1.1 Key Players - Revenue Comparison
5.1.2 Key Players - Market Capital Comparison
6. Company Profiles
6.1 Costco
6.1.1 Business Overview
6.1.2 Financial Overview
6.1.3 Business Strategies
6.2 Williams-Sonoma
6.2.1 Business Overview
6.2.2 Financial Overview
6.2.3 Business Strategies
6.3 MillerKnoll
6.3.1 Business Overview
6.3.2 Financial Overview
6.3.3 Business Strategies
6.4 Steelcase
6.4.1 Business Overview
6.4.2 Financial Overview
6.4.3 Business Strategies
6.5 HNI Corporation
6.5.1 Business Overview
6.5.2 Financial Overview
6.5.3 Business Strategies
6.6 Ashley Furniture Industries
6.6.1 Business Overview
6.6.2 Business Strategies
List of Figures
  • Major Functional Categories of Furniture
  • Factors Determined While Buying Furniture
  • Furniture Industry Production Value Chain
  • The U.S. Industrial Production - Durable Manufacturing: Furniture and Related Product (2019-2021)
  • The U.S. Furniture and Home Furnishing Stores Sales (2019-2020)
  • The U.S. Office Furniture Market Growth Rate (2019-2020)
  • The U.S. Furniture Market by Value (2017-2021)
  • The U.S. Furniture Market Forecast by Value (2022-2026)
  • The U.S. Furniture Market by Product Category (2021)
  • The U.S. Living Room Furniture Market by Value  (2017-2021)
  • The U.S. Living Room Furniture Market Forecast  by Value (2022-2026)
  • The U.S. Bedroom Furniture Market by Value  (2017-2021)
  • The U.S. Bedroom Furniture Market Forecast by Value  (2022-2026)
  • The U.S. Kitchen & Dining Furniture Market by Value  (2017-2021)
  • The U.S. Kitchen & Dining Furniture Market Forecast by Value  (2022-2026)
  • The U.S. Lamp & Lighting Market by Value (2017-2021)
  • The U.S. Lamp & Lighting Market Forecast by Value  (2022-2026)
  • The U.S. Floor Covering Market by Value  (2017-2021)
  • The U.S. Floor Covering Market Forecast by Value  (2022-2026)
  • The U.S. Home Office Furniture Market by Value  (2017-2021)
  • The U.S. Home Office Furniture Market Forecast by Value (2022-2026)
  • The U.S. Outdoor Furniture Market by Value  (2017-2021)
  • The U.S. Outdoor Furniture Market Forecast by Value (2022-2026)
  • The U.S. Wooden Furniture Import Value (2017-2021)
  • The U.S. Wooden Furniture Import by Country (2021)
  • The U.S. Wooden Furniture Import Value by Country (2017-2021)
  • Total Housing Units in the U.S. (2017-2021)
  • The U.S. Resident Population by Generation (2021)
  • The U.S. Consumer Spending on Furniture & Bedding (2017-2021)
  • Share of U.S. Population with the Social Media Usage (2017-2021)
  • The U.S. Urban Population (2017-2021)
  • The U.S. Ecommerce Furniture Sales (2020-2025)
  • Number of Augmented Reality Users in the U.S. (2019-2023)
  • Tree Cover Loss in the U.S. (2011-2021)
  • Costco Net Sales and Net Income (2017-2021)
  • Costco Net Sales by Segments (2021)
  • Williams-Sonoma Net Revenues & Net Earnings (2017-2021)
  • Williams-Sonoma Net Revenues by Segment (2021)
  • MillerKnoll Net Sales and Net Loss (Earning) (2017-2021)
  • MillerKnoll Net Sales by Segments (2021)
  • MillerKnoll Net Sales by Region (2021)
  • Steelcase Revenue and Net Income (2017-2021)
  • Steelcase Revenue by Segment (2021)
  • Steelcase Revenue by Region (2021)
  • HNI Corporation Net Sales and Net Income (2017-2021)
  • HNI Corporation Net Sales by Segment (2021)
List of Tables
  • Importance of Furniture in House
  • Top Materials Used in Furniture Manufacturing
  • Key Players - Revenue Comparison (2021)
  • Key Players - Market Capital Comparison (2022)

Companies Mentioned

  • Costco
  • Ashley Furniture Industries
  • HNI Corporation
  • MillerKnoll
  • Steelcase
  • Williams-Sonoma

Table Information

Report AttributeDetails
No. of Pages87
PublishedSeptember 2022
Forecast Period2022 - 2026
Estimated Market Value ( USD ) in 2022 $ 242.5 Billion
Forecasted Market Value ( USD ) by 2026 $ 288.9 Billion
Compound Annual Growth Rate4.4%
Regions CoveredUnited States
No. of Companies Mentioned6

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