Market Size of Europe Home Furniture Industry
| Study Period | 2020 - 2029 |
| Base Year For Estimation | 2023 |
| Market Size (2024) | USD 149.79 Billion |
| Market Size (2029) | USD 189.27 Billion |
| CAGR (2024 - 2029) | 4.78 % |
| Market Concentration | Low |
Major Players
*Disclaimer: Major Players sorted in no particular order |
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Europe Home Furniture Market Analysis
The Europe Home Furniture Market size is estimated at USD 149.79 billion in 2024, and is expected to reach USD 189.27 billion by 2029, growing at a CAGR of 4.78% during the forecast period (2024-2029).
The growing demand for home furnishings in the region is a major factor behind Europe's growth. To reduce production costs and increase operational efficiency, market participants in this region have moved their manufacturing into other regions of the world. Europe accounts for one-fourth of the world's furniture production. Almost 15 % of the world's furniture production is done by Germany, the United Kingdom, Italy, and France.
Increased consumption is one of the main drivers for Europe's furniture market expansion. The future growth of the European furniture market will be driven by increasing demand for environmentally friendly, modern, and luxury furniture.
During the forecast period, the European home furniture market is expected to grow strongly. Some of the main factors that contribute to the market growth are rising disposable income, increasing building activity in the region, and growing urbanization. Strong economic growth and the development of regional demand trends have been observed in Eastern European countries. The growing trend of housing renovation and increasing demand for housing is being observed in Western European countries, such as Germany, the United Kingdom, France, etc.
Wooden furniture is in high demand in Europe due to the fast-growing real estate sector. Wooden furniture offers remarkable durability, eco-friendliness, comfort, mechanical resistance, and visual appeal. It also offers easy maintenance, modularity, high strength, stiffness, and sustainability. All of these factors will increase the demand for wood furniture in Europe.
