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Multifunctional Furniture Market Share

Report ID: GMI10940
Published Date: Aug 2024
Report Format: PDF

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Multifunctional Furniture Market Share

Multifunctional Furniture Market Company Share Analysis (2023)

The multifunctional furniture industry is fragmented, with several regional companies operating on a global scale. In 2023, the Ashley Furniture Industries, Inc., IKEA, Hafele, Wayfair Inc., Natuzzi Group, led the market. To expand their customer base, broaden their product offerings, and establish a stronger foothold in the market, these corporations strategically deploy mergers, acquisitions, partnerships, and facility expansions. They also leverage their vast distribution networks and resources to investigate new markets.

Multifunctional Furniture Market Companies

Major players operating in the multifunctional furniture industry are:

Ashley Furniture Industries, Inc.
CasaKids
Clei S.r.l.
Expand Furniture
Furl
Häfele
IKEA
La-Z-Boy Incorporated
Lifetime Furniture
Ligne Roset
Murphy Wall-Beds Hardware Inc.
Natuzzi Group
Sofa Bed Company
The Futon Shop
Wayfair Inc.

Authors: Avinash Singh, Sunita Singh

Frequently Asked Questions (FAQ) :

The multifunctional furniture market was valued at around USD 15.2 billion in 2023 and is estimated to register around 4.8% CAGR between 2024 & 2032, due to rapid urbanization, and the need for versatile furniture that maximizes every square foot.

The sofa segment accounted for revenue of around USD 4.6 billion and is expected to reach USD 7.4 billion by 2032, owing to its versatility, enabling transformations into beds, recliners, or sectional pieces.

North America multifunctional furniture market held the largest revenue share of around 36% in 2023 and is estimated to register around 5.1% CAGR between 2024 & 2032, owing to rapid urbanization, along with a heightened need for adaptable home offices and versatile living spaces.

Ashley Furniture Industries, Inc, CasaKids, Clei S.r.l, Expand Furniture, Furl, H