Outdoor Furniture Market 2018 Size, Share, Segmentation by Top Manufacturers by
Posted by Marketresearchfuture on January 28th, 2019
Market Research Future (MRFR) has published a research report about the global outdoor furniture market that expects growth for this market by the end of the forecast period that would end in 2022. Analyzing the market structure, this report evaluates the future growth potential of the market. It observes the strategies of the key players in the market and follows the competitive developments such as joint ventures, new product developments, mergers and acquisitions, research and developments (R & D) in the market. The global medical sensors market is growing steadily and has a bright future. The significant technological advancement and demand for smart medical devices is the primary reason for the growth of this market. However, the cost of materials can hamper the speed of market growth.
The most important factor contributing to the growth of the global outdoor furniture market include growing number of purchases by the expanding hospitality industry, office spaces, open-air sports areas, and public gardens. Other factors contributing to the market growth include changing lifestyle and lastly, increase in consumer purchasing power. The global outdoor furniture market has been segmented on the basis of material, product, and lastly region. On the basis of material, this market has been segmented into metal, plastic, wood, and others. The product-based segmentation segments the market into general furniture, grills, patios, and others.
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The regional segmentation of the global outdoor furniture market segments the market into continents-based regional markets namely North America, Europe, Asia Pacific, the Middle East & Africa (MEA), and the rest of the world (RoW). According to the report, North America is dominating the market among all regional markets. Among country-based markets, the United States of America (USA), holds the largest share of the outdoor furniture market in this region, followed by Canada and Mexico. During the forecast period, the US market is expected to grow at a CAGR (Compound Annual Growth Rate) of approximately 5%. Factors boosting the market growth include the increasing demand for outdoor furniture. Other factors such as easy maintenance, indoor storage space, and looks are driving the market.
Europe is the second largest regional market due to the high density of population, high per capita income of consumers, demand for luxurious items, and high presence of all industries. The most important country-based markets in Europe are France, Germany, and the United Kingdom (UK). With the business of products like timber and plastic manufacturing going well in countries like China and India, Asia Pacific is a market for outdoor furniture which the industry needs to tap into. During the forecast period, this market has been estimated to have decent growth. In the MEA region, the market is limited. MEA region has a lack of processed wood, unsuitable climatic conditions to develop wood, and limited technology regarding metal extraction or plastic manufacturing. Some other reasons for the limited market growth in this region are lack of awareness, lack of education, lack of technological development, and political instability.
Key PlayersThe key players in the global outdoor furniture market include Adams Manufacturing (USA), Barbeques Galore (Australia), Brown Jordan (USA), Century Furniture (USA), Dedon (Germany), Forever Patio (USA), Heritage Home Group (USA), Home Crest Outdoor Living (USA), and Home Depot (USA).
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