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RTA(Ready-to-assemble) Furniture Market is Expected to Grow at an Estimated CAGR of 5.9% during 2019-2025 | Grand View Research, Inc.

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RTA(Ready-to-assemble) Furniture Market is Expected to Grow at an Estimated CAGR of 5.9% during 2019-2025 | Grand View Research, Inc.

November 11
12:22 2019
RTA(Ready-to-assemble) Furniture Market is Expected to Grow at an Estimated CAGR of  5.9% during 2019-2025 | Grand View Research, Inc.

Grand View Research, Inc. – Market Research And Consulting.
According to report published by Grand View Research, The global RTA furniture market size was valued at USD 12.3 billion in 2018. Shifting consumer preference towards flexible furniture is a key factor driving demand for the RTA (Ready-to-assemble) furniture.

The global RTA furniture market size is anticipated to reach USD 18.4 billion by 2025, according to a new report by Grand View Research, Inc., expanding at a CAGR of 5.9% over the forecast period. Growing preference for low priced, flexible, and portable fixtures owing to rising inclination towards space saving furniture is driving the market. In addition, increasing popularity of high rise buildings, which creates obstruction for large sized furniture, is expected to drive the market in the forecast period.

RTA (Ready-to-assemble) furniture optimizes small spaces in houses due to its dismantling properties and thus is effective for small space dwellers in the market. Growing preference for customization feature in home furnishing drive the manufacturers to develop these products. For instance, Hem, the e-commerce giant, provides RTA products with sleek pieces, featuring Scandinavian designs and online customization options. In addition, growing trend of shifting to new places for job or business purposes, particularly by millennials, has influenced the market growth.

According to statistics, 83% of millennials have purchased different RTA products. The RTA (Ready-to-assemble) furniture market witnesses increasing preference for book shelves and cabinets on account of large space storage facility and thus, companies are introducing new products in this category. For instance, in 2018, Nitori Co., Ltd. in collaboration with Välinge Innovation AB, has produced a new range of RTA fixtures with a Threespine click furniture technology. This product, N-Click, cuts down the involvement of nuts and bolts when assembling the product, while it is easily connected with clicks.

Get Sample of Report @ https://www.grandviewresearch.com/industry-analysis/rta-furniture-market/request/rs1

In terms of material, wood dominated the market with a share of 54.9% in 2018. RTA wooden fixture showcases style with utility and is produced with different wooden materials such as engineered wood, sheesham wood, and solid wood. For instance, Decor Furniture and Mattress Showplace produces different RTA furniture in the unfinished fixtures segment showcasing different products pertaining to bedroom, living room, and kitchen and dining space.

The home application segment accounted for the largest share of 66.7% in 2018. Increasing preference for RTA cabinets to ensure mass storage at affordable rates has also increased the demand for kitchen cabinets in the industry. In addition, ease of transport of such furniture to customer’s home acts as a key factor driving the household application segment owing to increasing construction of high rise buildings.

U.S. RTA furniture market size, by material, 2015 - 2025 (USD Billion)

Further key findings from the report suggest:

  • By material, wood is expected to reach USD 10.0 billion by 2025
  • The home application segment is expected to reach USD 12.3 billion by 2025
  • Asia Pacific is expected to expand at the fastest CAGR of 6.9% from 2019 to 2025
  • Top players operating in the RTA furniture market include IKEA Systems B.V.; Dorel Industries Inc.; Ashley Home Stores, Ltd.; Steinhoff International; Tvilum A/S; Simplicity Sofas; Home Reserve; Sauder Woodworking Company; and Bush Industries, Inc.

Global RTA furniture market share, by application, 2018 (%)

Browse Details of Report, Please Visit @ https://www.grandviewresearch.com/industry-analysis/rta-furniture-market

Key Topics Covered 

Chapter 1. Methodology and Scope
                     1.1. Market Segmentation & Scope
                     1.2. Market Definition
                     1.3. Information Procurement
                          1.3.1. Purchased Database
                          1.3.2. GVR’s Internal Database
                          1.3.3. Secondary Sources & Third-Party Perspectives
                          1.3.4. Primary Research
                     1.4. Information Analysis
                          1.4.1. Data Analysis Models
                     1.5. Market Formulation & Data Visualization
                     1.6. Data Validation & Publishing
Chapter 2. Executive Summary
                     2.1. Market Outlook
                     2.2. Segmental Outlook
                     2.3. Competitive Insights
Chapter 3. RTA Furniture Market Variables, Trends & Scope
                     3.1. Market Introduction
                     3.2. Penetration & Growth Prospect Mapping
                     3.3. Industry Value Chain Analysis
                          3.3.1. Sales/Retail Channel Analysis
                          3.3.2. Profit Margin Analysis
                     3.4. Market Dynamics
                          3.4.1. Market Driver Analysis
                          3.4.2. Market Restraint Analysis
                          3.4.3. Industry Challenges
                          3.4.4. Industry Opportunities
                     3.5. Business Environment Analysis
                          3.5.1. Industry Analysis – Porter’s

…continued

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About Grand View Research
Grand View Research provides syndicated as well as customized research reports and consulting services on 46 industries across 25 major countries worldwide. This U.S.-based market research and consulting company is registered in California and headquartered in San Francisco. Comprising over 425 analysts and consultants, the company adds 1200+ market research reports to its extensive database each year. Supported by an interactive market intelligence platform, the team at Grand View Research guides Fortune 500 companies and prominent academic institutes in comprehending the global and regional business environment and carefully identifying future opportunities.

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