Global Hotel Furniture market will reach 4798.74 million US$ by the end of 2025

Publisher: QYResearch
Published Date: 2019/10/23

Hotel Furniture refers to the furniture used in hospitality to make it suitable or comfortable for Short-term living, which major includes objects such as tables and chairs, beds, cupboards, chests of drawers, or wardrobes, sofa, recliner, etc.

The global hotel furniture market is expected to reach USD 4798.74 million by 2025, growing at a CAGR of more than 3.64% from 3735.36 million in 2018; The hotel furniture market is very fragmented concentrated market; key players includes Kimball Hospitality, Bryan Ashley, Suyen Furniture Group, Taiyi Hotel Furniture, Gotop Furniture Group, Foliot, Solid Comfort, Distinction Group, New Qumun Group, Klem (Jasper Group) etc; the revenue of top ten manufacturers accounts about 18% of the total revenue in 2018.

The hotel furniture is classified into the table and chairs, hotel beds, hotel casegoods and other according to the hotel product categories. As of 2018, table and chairs segment dominates the market contributing about 60% market share, reach to 2308.25 million dollars, followed by hotel casegoods and hotel beds, which occupied 17.81% and 11.13% respectively. hotel furniture mainly sales to business hotel, luxury hotel, boutique hotel, other hotel, in 2018, business hotel occupied the largest hotel furniture consumption market, with 53.86% market share, reach to 2011.98 million, but luxury hotel and other hotel (hotel resort, spa hotel) have fast growth rate.

QYR analysis of the hotel furniture market indicated that North America would account for the highest consumption in 2025 as a result of mature market and advance in living standard, but development countries have the highest growth rate. Vendors recognize the importance of this region, particularly in Brazil, India and Africa are working towards penetrating this market by strengthening their sales and distribution networks. China hotel furniture market is facing with huge challenges as a result of domestic real estate regulation policy

Although the market competition of hotel furniture is fierce globally, there are many enterprises can obtain considerable profit form the manufacturing and marketing of hotel furniture and that is the reason that we believe there will also be enterprises enter this market. But it is suggested that enterprises those have plans to enter this industry have careful analysis of this market and the advantages or disadvantages of themselves.

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