Global RTA Furniture Market by Material (Wood, Glass, Steel, & Other Materials) By End-Use (Residential & Commercial), By Region, and Key Companies - Industry Segment Outlook, Market Assessment, Competition Scenario, Trends and Forecast 2021-2031

The demand for RTA furniture is driven mainly by a younger consumer segment, particularly millennials, due to the shift in preferences for space-saving furniture options

Market.US announces publication of its most recently generated research report titled, “Global RTA Furniture Market by Material (Wood, Glass, Steel, & Other Materials) By End-Use (Residential & Commercial) – Global Forecast to 2031”, which offers a holistic view of Global RTA Furniture Market through systematic segmentation that covers every aspect of the target market.

Global RTA Furniture Market is projected to be US$ 14,615.2 Mn in 2021 to reach US$ 26,420.3 Mn by 2031 at a CAGR of 6.2%.

The RTA product range encompasses domestic and office furniture as well. Several materials such as wood, metals (stainless steel, aluminum, and wrought iron), plastic, wicker, etc., are used to make RTA furniture. Since RTA furniture is designed with additional capabilities rather than aesthetic functions, they are perfect fixtures for apartments, boarding schools, and even small family homes.

And, as a result of these types of furniture can be assembled by the average Joe, it can also be dismantled similarly. Over the years, the demand for RTA furniture has increased on a global-level, particularly due to their convenience in being transported. RTA furniture is specifically designed for artistic and convenience purposes, and are considered to be a worthy option for small rented houses.

The demand for RTA furniture is driven mainly by a younger consumer segment, particularly millennials, due to the shift in preferences for space-saving furniture options. It has influenced the growth of this market due to the increasing need for household items.

According to statistics, 83% of millennials have purchased these products that belong to the RTA furniture segment. These factors are expected to augment the revenue growth trajectory of the global RTA furniture market. The global RTA furniture market is expected to experience substantial economic growth owing to several factors such as increasing urbanization levels; an increase in disposable incomes per capita; and the rapid expansion of tourism, hospitality, and real estate sectors around the world.

Owing to the lower integration of technology by the furniture industry, and its ability to attract a younger workforce could potentially hinder the revenue growth of the global RTA furniture market. Competition on a global-scale, the higher cost of labor, and varying channels of distribution are major challenges for furniture manufacturers. RTA furniture designs are limited.

Since its assembly is left to the purchaser, manufacturers have ensured that its additives are shaped in a manner that makes it easier for customers to assemble. Intricate additives and complicated designs may result in a customer being frustrated by the entire process.

Moreover, since furniture and RTS are imported from essential furniture manufacturers across the world, instructions and their respective translations in various uncommon languages could also pose an additional threat for a do-it-yourselfer, potentially hindering this market’s growth prospects in the process.

Global RTA Furniture Market Revenue (US$ Mn), 2020–2031

Major manufacturers are expanding their areas of business operations in developing regions. For example, the Inter Ikea Group has begun offering its services in countries such as India and China. In 2018, Ikea opened its first store in India, and the key reason behind its expansion was the rapid economic development of this country. This business expansion into various developing markets is anticipated to fuel additional opportunities for increased revenue growth in the years to come.

Global RTA Furniture Market Attractiveness Analysis by Component, 2015–2031

Segmentation of the global RTA furniture market is achieved under the following – material type, end-use type, and region. On the basis of material type, this market is further categorized into wood, glass, steel, and other materials. The wood sub-segment is expected to account for the majority revenue share of this industry.

In terms of end-use, this market is sub-segmented into residential usage & commercial usage. The residential sub-segment is anticipated to account for the majority revenue share, followed by commercial. The global RTA furniture market is segmented region-wise into North America, Europe, Asia-Pacific, South America, and the MEA, respectively. Among these aforementioned regions, the markets in the North America are expected to register the majority revenue share of the global RTA furniture market, followed by those in Europe and Asia-Pacific.

Companies profiled in the report are:

• Dorel Industries Inc.
• Global Furniture Group.
• Sauder Woodworking Company
• Ashley Furniture Industries Inc.
• Tvilum A/S.
• Bush Industries Inc.
• Walker Edison Company
• Prepac Manufacturing Ltd.
• Rimo
• Venture Horizon
• Seam Craft Inc.
• Other

Global RTA Furniture Маrkеt Segmentation Based on Material Type, End-Use and Region

Based on Material Type:

• Wood
• Glass
• Steel
• Other Materials

Based on End-Use:

• Residential
• Commercial

Based on Regions:

• North America
• Europe
• Asia Pacific
• South America
• MEA

For the RTA Furniture Market research study, the following years have been considered to estimate the market size: