LONDON--(BUSINESS WIRE)--#GlobalReclinerSofasMarket--Technavio has been monitoring the recliner sofas market and it is poised to grow by USD 4.74 billion during 2020-2024, progressing at a CAGR of over 2% during the forecast period. The report offers an up-to-date analysis regarding the current market scenario, latest trends and drivers, and the overall market environment.
Impact of COVID-19
The COVID-19 pandemic continues to transform the growth of various industries, however, the immediate impact of the outbreak is varied. While a few industries will register a drop in demand, numerous others will continue to remain unscathed and show promising growth opportunities. COVID-19 will have a low impact on the recliner sofas market. The market growth in 2020 is likely to decrease compared to the market growth in 2019.
Frequently Asked Questions:
Based on segmentation by distribution channel, which is the leading segment in the market?
The furniture and furnishing stores segment led the market in 2019.
What are the major trends in the market?
The rising demand for power recliner sofas is the major trend in the market.
At what rate is the market projected to grow?
The market is projected to grow at a CAGR of over 2% during 2020-2024.
Who are the top players in the market?
Ashley Furniture Industries Inc., Bush Industries Inc., Dorel Industries Inc., Inter IKEA Holding BV, LaZBoy Inc., Man Wah Holdings Ltd., PREMIEREHTS LLC, Qumei Home Furnishings Group Co. Ltd., Raymour and Flanigan Furniture, and Steinhoff International Holdings NV are the top players in the market.
What are the key market drivers and challenges?
The market is driven by the growth in e-commerce industry. However, the growing demand for pre-owned recliner furniture will challenge growth.
How big is the APAC market?
APAC dominated the market with a 34% market share in 2019.
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The market is fragmented, and the degree of fragmentation will accelerate during the forecast period. Ashley Furniture Industries Inc., Bush Industries Inc., Dorel Industries Inc., Inter IKEA Holding BV, LaZBoy Inc., Man Wah Holdings Ltd., PREMIEREHTS LLC, Qumei Home Furnishings Group Co. Ltd., Raymour and Flanigan Furniture, and Steinhoff International Holdings NV are some of the major market participants. Although the growth in the e-commerce industry will offer immense growth opportunities, the growing demand for pre-owned recliner furniture is likely to pose a challenge for the market vendors. In a bid to help players strengthen their market foothold, this recliner sofas market forecast report provides a detailed analysis of the leading market vendors. The report also empowers industry honchos with information on the competitive landscape and insights into the different product offerings offered by various companies.
Technavio's custom research reports offer detailed insights on the impact of COVID-19 at an industry level, a regional level, and subsequent supply chain operations. This customized report will also help clients keep up with new product launches in direct & indirect COVID-19 related markets, upcoming vaccines and pipeline analysis, and significant developments in vendor operations and government regulations.
Recliner Sofas Market 2020-2024: Segmentation
Recliner Sofas Market is segmented as below:
- Furniture And Furnishing Stores
- North America
- South America
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Recliner Sofas Market 2020-2024: Scope
Technavio presents a detailed picture of the market by the way of study, synthesis, and summation of data from multiple sources. The recliner sofas market report covers the following areas:
- Recliner Sofas Market Size
- Recliner Sofas Market Trends
- Recliner Sofas Market Industry Analysis
This study identifies rising demand for power recliner sofas as one of the prime reasons driving the Recliner Sofas Market growth during the next few years.
Technavio suggests three forecast scenarios (optimistic, probable, and pessimistic) considering the impact of COVID-19. Technavio’s in-depth research has direct and indirect COVID-19 impacted market research reports.
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Recliner Sofas Market 2020-2024: Key Highlights
- CAGR of the market during the forecast period 2020-2024
- Detailed information on factors that will assist recliner sofas market growth during the next five years
- Estimation of the recliner sofas market size and its contribution to the parent market
- Predictions on upcoming trends and changes in consumer behavior
- The growth of the recliner sofas market
- Analysis of the market’s competitive landscape and detailed information on vendors
- Comprehensive details of factors that will challenge the growth of recliner sofas market vendors
Table of Contents:
- Market ecosystem
- Value chain analysis
- Market definition
- Market segment analysis
- Market size 2019
- Market outlook: Forecast for 2019 - 2024
Five Forces Analysis
- Five Forces Summary
- Bargaining power of buyers
- Bargaining power of suppliers
- Threat of new entrants
- Threat of substitutes
- Threat of rivalry
- Market condition
Market Segmentation by Distribution channel
- Market segments
- Comparison by Distribution channel
- Furniture and furnishing stores - Market size and forecast 2019-2024
- Hypermarkets - Market size and forecast 2019-2024
- E-retailers - Market size and forecast 2019-2024
- Others - Market size and forecast 2019-2024
- Market opportunity by Distribution channel
- Geographic segmentation
- Geographic comparison
- North America - Market size and forecast 2019-2024
- Europe - Market size and forecast 2019-2024
- APAC - Market size and forecast 2019-2024
- South America - Market size and forecast 2019-2024
- MEA - Market size and forecast 2019-2024
- Key leading countries
- Market opportunity by geography
- Market drivers – Demand led growth
- Market challenges
- Market trends
- Vendor landscape
- Landscape disruption
- Vendors covered
- Market positioning of vendors
- Ashley Furniture Industries Inc.
- Bush Industries Inc.
- Dorel Industries Inc.
- Inter IKEA Holding BV
- LaZBoy Inc.
- Man Wah Holdings Ltd.
- PREMIEREHTS LLC
- Qumei Home Furnishings Group Co. Ltd.
- Raymour and Flanigan Furniture
- Steinhoff International Holdings NV
- Scope of the report
- Currency conversion rates for US$
- Research methodology
List of abbreviations
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