Market Size of North America High-End Furniture Industry
| Study Period | 2020 - 2029 |
| Base Year For Estimation | 2023 |
| Forecast Data Period | 2024 - 2029 |
| Historical Data Period | 2020 - 2022 |
| CAGR | > 4.20 % |
Major Players
*Disclaimer: Major Players sorted in no particular order |
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North America High-End Furniture Market Analysis
The North American high-end Furniture market is anticipated to record a CAGR of 4% during the forecast period.
High-end furniture which is largely dependent on the economic stability of the end-users was hardly hit by the sudden COVID-19 pandemic during the year 2020. The largest geography in the region, i.e., the United States is one among the top 5 countries with the highest number of cases, which led to economic instability and loss of employment for several customers. In addition to that the trade restrictions during April-August 2020, and the trade war between the US and China have also largely impacted the market studied and resulted in a drop in market revenue during the year.
However, owing to the growing customer interest towards more eco-friendly furniture along with other factors including high scope for customization, and the growing number of manufacturers who are offering high-quality, durable, and multi-functional furniture have been helping the market to record more sales transactions in the residential and commercial end-user segments of the market. Though the upward market trend got disturbed during the 2020 due to the pandemic, with the high vaccination rate during the first half of 2021, the situations that were the result of COVID-19, are getting back on track and is anticipated to help the high-end furniture demand to be dominant in the forecast period as well.
