Saudi Arabia Residential, Hospitality and Commercial Furniture Market Outlook to 2023: Ken Research REQUEST FOR SAMPLE REPORT Buy Now Request For sample Report × Report Title Name Email Designation Phone No Comapny Name Comapny URL Country -- Please Select Your Country -- Afganistan Africa Albania Algeria Andorra Angola Anguilla Antigua and Barbuda Argentina Armenia Aruba Asia Australasia Australia Austria Azerbaijan Bahamas Bahrain Bangladesh Barbados Belarus Belgium Belize Benin Bermuda Bhutan Bolivia Bonaire Bosnia Herzegovina Botswana Brazil BRICS British Virgin Islands Brunei Darussalam Bulgaria Burkina Faso Cambodia Cameroon Canada Cape Verde Cayman Islands Central African Republic Central and South America Chad Chile China Colombia Comoros Congo Costa Rica Cote d'Ivoire Croatia Cuba Curacao Cyprus Czech Republic Denmark Djibouti Dominica Dominican Republic Ecuador Egypt El Salvador Equatorial Guinea Eritrea Estonia Ethiopia Europe European Union Falkland Islands Faroe Islands Fiji Finland France French Guiana French Polynesia Gabon Gambia Georgia Germany Ghana Gibraltar Global Great Britain Greece Greenland Grenada Guadeloupe Guam Guatemala Guerney & Alderney Guinea Guinea-Bissau Guyana Haiti Honduras Hong Kong Hungary Iceland India Indonesia Iran Iraq Ireland Isle of Man Israel Italy Ivory Coast Jamaica Japan Jersey Jordan Kazakhstan Kenya Kiribati Kosovo Kuwait Kyrgyzstan Laos Latvia Lebanon Lesotho Liberia Libyan Arab Jamahiriya Liechtenstein Lithuania Luxembourg Macao Macau Macedonia Madagascar Malawi Malaysia Maldives Mali Malta Man (Island of) Marshall Islands Martinique Mauritania Mauritius Mayotte Mexico Micronesia Middle East Minnesota Moldova Monaco Mongolia Monserrat Montenegro Morocco Morroco Mozambique Myanmar Namibia Nepal Netherlands New Caledonia New Zealand Nicaragua Niger Nigeria Niue North America North Korea Norway Oman Pakistan Palau Palestine Panama Papua New Guinea Paraguay Peru Philippines Poland Portugal Puerto Rico Qatar Reunion Romania Russia Rwanda Saint Helena Saint Lucia Saint Martin Saint Pierre and Miquelon Saint Vincent and the Grenadines Samoa Samoa (American) San Marino Sao Tome and Principe Saudi Arabia Scandinavia Senegal Serbia Seychelles Sierra Leone Singapore Sint Maarten Slovakia Slovenia Solomon (Islands) Somalia South Africa South Korea South Sudan Spain Sri Lanka Sudan Suriname Svalbard and Jan Mayen Islands Swaziland Sweden Switzerland Syria Taiwan Tajikistan Tanzania Thailand Timor Leste Togo Tonga Trinidad and Tobago Tunisia Turkey Turkmenistan Turks and Caicos Islands Uganda Ukraine United Arab Emirates United Kingdom United States Uruguay Uzbekistan Vanuatu Vatican City Venezuela Vietnam Virgin Islands Western Sahara Yemen Zambia Zimbabwe Requirement Submit The report titled “Saudi Arabia Residential, Hospitality and Commercial Furniture Market Outlook to 2023 – By Bedroom Furniture (Beds, Mattresses, Wardrobes, and Chest of Drawers), By Living Room (Sofas, Sofa Cum Beds, Coffee Tables, and Center Tables, TV Furniture and Stools, Dining Room, Kitchen, and Kids Furniture; By Commercial Furniture (Workstation Desks, Office Chair, Conference Table, Corner Table, and Office Storage)” provides a comprehensive analysis of furniture products in the Saudi Arabia region. The report focuses on overall market size, market segmentation by market structure (organized and unorganized), type of material used for furniture (wood, glass, metal, plastic, and others), major end users (residential, hospitality and commercial), by residential furniture product categories (bedroom, living room, dining room, kitchen furniture, kids furniture and outdoor furniture), by the living room (sofas, sofa cum beds, coffee tables and center tables, TV furniture and stools), by the material used in sofa (fabric and leather), by sofa seating arrangement (3+2 seating, 3+2+1+1 seating and others), by bedroom furniture (beds, mattresses, wardrobes and chest of drawers), by beds (with storage and without storage capacity), by the bed size (single bed, king-sized bed, and queen-sized bed), by the material used in beds (wood and steel), by material used in dining table (wood and others), by dining table seating arrangement (6 and 8 chairs, more than 8 chairs and others), by kitchen furniture (modern, and traditional) and others. Saudi Arabia Furniture Market Overview and Genesis The furniture industry is operating at a maturity stage and is growing at a positive double-digit CAGR during the review period of 5 years from 2013-2018. The industry was adversely hit during 2016-2017 due to recession in the real estate sector and the decline in oil prices in the recent past. The market recovered in 2018 and is anticipated to grow at a CAGR of 10% in the next 5 years. The preference for multi-utilitarian furniture has also been increasing due to the benefits of less space requirement and multi-usage purposes offered. The ease of self-assemblage gives added benefit to the customer. Investments in the real estate financing sector were expected to reach $21.3 billion in 2019 and one of the key targets of the Saudi Ministry of Housing is to increase Saudi homeownership to 70% by 2030. The number of Traditional houses and Apartments were expected to increase to 657,897 and 1,572,654 respectively by the year 2018. Lastly, furniture has recently made their way through online retailing, for instance, retailers such as Home center and IKEA launched online stores to facilitate easy buying of furniture while relaxing at home. Saudi Arabia Furniture Market Segmentation By Market Structure (Organized and Unorganized Segment): The organized sector dominated the market revenues as retailers operating under this segment deal in high quality and designer products manufactured from MDF or solid wood during the year 2018. The unorganized players rely majorly on the price of the material whereby they tend to compromise with the quality of the product. The unorganized segment captured the remaining market share in terms of market revenue during the year 2018. Also, unorganized players procure raw material and labor locally. However, organized players often get furniture imported. By End Users (Residential, Hospitality, and Commercial): The revenues accrued from the sale of residential furniture dominated the Saudi Arabia furniture market revenues in 2018. Bedroom furniture generated the maximum revenue during 2018 and is expected to increase with a CAGR of 7% during the time period 2019-2023. Mattresses and Beds will show a high growth of 12% and 9% respectively over the years from 2019-2023. Hospitality furniture followed residential furniture in terms of revenue in the year 2018. The country has witnessed an increase in the total number of international tourists, from 18.6 million in the year 2017 to 23.6 million in 2018 as a result of the increased promotion of tourism in Saudi Arabia. Construction of new hotels and resorts will drive the demand for hospitality furniture. The remaining revenue share was taken up by the commercial furniture as the total office space in major commercial hubs of Saudi Arabia was forecasted to increase. Riyadh was expected to witness an estimated increase in office space to 3,500,000 sq meters GLA by the end of 2018, owing to the entrance of notable projects such as Cayan Mefic Center, Al Rajhi Bank Tower, and the Business Front. The office space in Jeddah and Eastern Province was expected to reach to 1,100,000 sq meters GLA and 1,050,000 sq meters GLA respectively by the end of 2018. Comparative Landscape in Saudi Arabia Furniture Market Saudi Arabia furniture market was observed to be highly fragmented with the presence of domestic as well as global players. Furniture in various price segments, including mass, economy, premium, and luxury are designed by several retailers to cater to the needs of expanding the customer base of all classes. Over the years, the competition between the domestic and international players has intensified owing to the increase in demand for furniture products in Saudi Arabia. Companies with a disruptive model like that of IKEA have acted as a significant threat to the unorganized sector. Organized players have been successful due to their high budget marketing campaigns and promotions which largely include the price reduction on MRP and high quality being offered at low cost. Some of the major competition parameters include a number of stores, pricing, and type of material used in furniture, product SKUs, online presence/distribution channel and others. Saudi Arabia Future Outlook and Projections The furniture industry of Saudi Arabia is expected to grow at a positive double-digit CAGR during the forecast period 2019-2023. Expected tailwinds include rising hotels and resorts room supply, expected to increase in commercial space, increase customer budget allocation for multi-utility furniture and customer preference shift to premium modern-design furniture. Key Segments Covered:- Market Structure Organized Segment Unorganized Segment Material Used Wood Glass Metal Plastic Others (Bamboo and MDP) End Users Residential Purpose Bedroom Furniture Beds Beds without Storage Beds with Storage Size of Beds Single Size Bed Double Size Bed Queen Size Bed Material Used in Beds Wood Steel Mattresses Chests of Drawers Wardrobe Living Room Furniture Sofa Material Used in Sofa Fabric Leather Sofa Seating Furniture 3+2 Seating 3+2+1+1 Seating Other Seating Pattern Coffee Table and Centre Table Material Used in Coffee Table and Centre Table Wood Steel and Glass Sofa cum Bed Others (TV Cabinets and Stools) Dining Table Furniture Material Used in Dining Table Wood Others (Steel and Glass) Seating Arrangement of Dining Table < 6 Chairs 6-8 Chairs 8 Chairs Type of Kitchen Furniture Modular Regular Outdoor Furniture Style of Residential Indoor Furniture Modern and Contemporary Traditional or Classic Hospitality Furniture Commercial Type of Office Furniture Workstation Desk Office Chair Conference Table Corner Table Office Storage Key Target Audience Furniture Retailers Furnishings Retailers Private Equity Companies Contract Furniture Manufacturers Furniture Association Government Associations Real Estate Developers Time Period Captured in the Report:- Historical Period: 2013-2018 Forecast Period: 2019-2023 Companies Covered IKEA Home Centre Almutlaq Furniture Al-Rugaib Furniture Al Jedaie Office Furniture El Ajou Group Key Topics Covered in the Report:- Market Overview and Genesis Value Chain Analysis Market Size, 2013-2018 Saudi Arabia Furniture Market Segmentation, 2018 Trade Scenario, 2013-2017 SWOT Analysis Supplier Selection Criteria Decision Making Parameters Trends and Developments Issues and Challenges Competitive Landscape Future Outlook and Projections, 2019-2023 Analyst Recommendations Online Retailing Success Stories of Major Indian Furniture Retailers For More Information, Click On the Below Mentioned Link:- Saudi Arabia Residential, Hospitality, and Commercial Furniture Market Outlook Related Reports by Ken Research:- UAE Home Furniture and Furnishing Market Outlook to 2022 – By Living Room Furniture (Sofa, Sofa Cum bed, Other Sitting Furniture, Coffee Tables, Others), Bedroom Furniture (Bed, Mattresses, Wardrobes, Chest of Drawers), Dining Room, Home Office, Kitchen Furniture and Furnishing (Home Textile, Window Covering, Barbeques, Lightning Products) Australia Furniture Market Outlook to 2022 – By Residential (Bedroom, Living Room, Kitchen, Home Office Furniture, Dining Room, Storage Furniture and Other Residential Furniture), Hospitality and Commercial Furniture, by Home Furnishing (Indoor, Outdoor and Lighting) Philippines Furniture Market by Type (Home – Bed Room, Living Room, Dining Room, Kitchen Furniture; Office; Hotel & Industrial), by Sales (Domestic and Export) – Outlook to 2021 Contact Us:- Ken Research Ankur Gupta, Head Marketing & Communications Ankur@kenresearch.com +91-9015378249 Tags: Almutlaq Furniture Market Analysis, Ashley Homestore Market Share Saudi Arabia, Commercial Furniture Sales Saudi Arabia, Contract Furniture Manufacturers Saudi Arabia, Dinning Set Sales KSA, El Ajou Group Furniture Market Share KSA, Flat-pack Furniture Sales Saudi Arabia, Furniture For Sale in Saudi Arabia, Furniture Industry in Saudi Arabia, furniture industry of Saudi Arabia, Furniture Industry Saudi Arabia, Furniture Market in Saudi Arabia, Furniture Market Saudi Arabia, Glass Furniture Market Saudi Arabia, Home Center Revenue Saudi Arabia, Hospitality Furniture Revenue Saudi Arabia, IKEA Market Revenue Saudi Arabia, Imported Furniture Sales Saudi Arabia, KSA Al-Jedaie Furniture Market Share, KSA Chests of Drawers and Wardrobe Market, KSA Coffee Table and Centre Table Market, KSA Furniture Market Analysis, KSA Kids Furniture Market Size, KSA Metal and Plastic Furniture Market, KSA Residential Indoor Furniture Market, KSA Sofa cum Bed Furniture Market Analysis, KSA Workstation Desks Sale Size, Luxury Furniture Sales KSA, Multi-Utility Furniture Sales Saudi Arabia, Number of Furniture Retailers Saudi Arabia, Number of Furniture Stores KSA, Office Furniture Market in Riyadh, Online Furniture Retailing KSA, Online Furniture Sales Saudi Arabia, Pepper Fry Furniture Market in Saudi Arabia, Saudi Arabia Bedroom Furniture Market, Saudi Arabia Beds and Mattresses Market, Saudi Arabia Beds Furniture Market, Saudi Arabia Beds Furniture Market Forecast, Saudi Arabia Beds Furniture Market Future Outlook, Saudi Arabia Beds Furniture Market Growth Rate, Saudi Arabia Commercial Furniture Market, Saudi Arabia Dining Furniture Market, Saudi Arabia Furniture Export Revenue, Saudi Arabia Furniture Import Volume, Saudi Arabia Furniture Industry, Saudi Arabia Furniture Industry Research Report, Saudi Arabia Furniture Manufacturers, Saudi Arabia Furniture Market, Saudi Arabia Furniture Market End Users, Saudi Arabia Furniture Market Major Players, Saudi Arabia Furniture Market Research Report, Saudi Arabia Furniture Market Revenue, Saudi Arabia Furniture Market Segmentation, Saudi Arabia Furniture Market Size, Saudi Arabia Furniture Organized Market, Saudi Arabia Furniture Retailers Market, Saudi Arabia Furniture Unorganized Market, Saudi Arabia Hospitality Furniture Market, Saudi Arabia Kitchen Furniture Market, Saudi Arabia Living Room Furniture Market, Saudi Arabia Office Furniture Market, Saudi Arabia Outdoors Furniture Market, Saudi Arabia Residential Furniture Market, Saudi Arabia Wardrobes Furniture Market, Self-Assembling Furniture Sales Saudi Arabia, Sofa Cum Bed Sales Saudi Arabia, Urban Ladder SWOT Analysis KSA, Wooden Furniture Market Saudi Arabia
