Furniture - Czechia

Czechia

In Czechia, the revenue in the Furniture market is projected to reach US$2.25bn in 2024.
It is anticipated that the market will experience an annual growth rate of 2.53% (CAGR 2024-2029).
The largest segment in this market is the Living Room Furniture segment, which is expected to have a market volume of US$0.57bn in 2024.
When compared globally, in the United States generates the highest revenue in the Furniture market, amounting to US$263bn in 2024.
Taking into account the total population, the per person revenue in Czechia is estimated to be US$214.60 in 2024.
The furniture market in Czechia is experiencing a surge in demand for modern and minimalist designs.

Key regions: Worldwide, United States, China, India, Germany

Definition:

The Furniture market covers different movable objects designed to support various human activities such as sitting, sleeping, and storing items. These objects can include chairs, tables, beds, couches, and cabinets, among others. The design and layout of furniture can have a significant impact on the comfort and functionality of a space, making it an important aspect of interior design and home decor.

Structure:

The Furniture market is divided into seven segments:

The Living Room Furniture segment focuses on furnishings such as sofas, side tables, and media cabinets typically found in the living room. This segment is divided into the following subsegments: Seats & Sofas and Cabinets, TV Stands & Side Tables.
The Bedroom Furniture segment covers furnishings and other accessories used for sleeping and the storage of clothing and other personal items. This segment is divided into the following subsegments: Beds, Mattresses, Closets, Nightstands, & Dressers, and Bedding.
The Kitchen & Dining Furniture segment covers a diverse range of products that are used to meet people’s eating, food storage and preparation needs. This segment is divided into the following subsegments: Kitchenware and Dining Tables, Kitchen Islands & Pantries.
The Outdoor Furniture segment covers products specifically designed to withstand exposure to the elements, such as rain, sun, and wind, and is often made from materials that are weather-resistant.
The Home Office Furniture segment focuses on products that ensure a good working environment at home compared to that of a traditional office. This segment is divided into the following subsegments: Desks & Chairs and Bookcases & Filing Cabinets.
The Lamps & Lighting segment covers various devices and fixtures that provide illumination in a space. This segment is divided into the following subsegments: Table & Floor Lamps, Ceiling Lights & Chandeliers, and Light Bulbs & Fittings.
The Home Décor segment covers a variety of accessories and furnishings designed to make a space more aesthetically appealing. This segment is divided into the following subsegments: Decorations, Carpets & Rugs, Candles, and Curtains & Blinds.

Additional Information:

The Furniture market consists of revenue and average revenue per capita data. Per capita figures consider the whole population. This market includes only business to consumer (B2C) sales. Business to business (B2B) sales (e. g., furniture for coffee shops, offices, etc.) are excluded in the figures shown. For more information on the displayed data, click the info button on the right-hand side of each box. In terms of key players in the furniture market, IKEA is the leading furniture company; however, with the rise of eCommerce, players such as Wayfair are gaining ground.

Market

Region

Region comparison

Currency

Analyst Opinion

The Furniture market in Czechia is experiencing significant growth and development in recent years. Customer preferences have shifted towards modern and minimalist designs, with a focus on functionality and practicality. This trend is in line with global preferences, as customers seek furniture that can fit into smaller living spaces and provide multi-purpose functionality. Additionally, there is a growing demand for eco-friendly and sustainable furniture options, as consumers become more conscious of the environmental impact of their purchases. In terms of trends in the market, online retail has emerged as a popular channel for purchasing furniture in Czechia. The convenience and wide selection offered by online stores have attracted a large number of customers, especially younger generations who are comfortable with e-commerce. This trend is also driven by the covid-19 pandemic, which has led to an increase in online shopping across various industries. As a result, many furniture retailers have invested in their online presence and expanded their e-commerce capabilities to cater to this growing demand. Another trend in the Czech furniture market is the rise of customization options. Customers are increasingly looking for furniture that reflects their personal style and preferences. This has led to an increase in the availability of customizable furniture, where customers can choose from a range of materials, colors, and finishes to create a unique piece. This trend is driven by the desire for individuality and personalization, as customers seek to create a space that is tailored to their specific needs and tastes. Local special circumstances in Czechia also contribute to the development of the furniture market. The country has a rich tradition of craftsmanship and woodworking, which has resulted in a high level of skill and expertise in the industry. Czech furniture is known for its quality and durability, which has helped establish a positive reputation both domestically and internationally. This reputation, combined with competitive pricing, has made Czechia a popular destination for furniture manufacturing and exports. Underlying macroeconomic factors also play a role in the growth of the furniture market in Czechia. The country has experienced steady economic growth in recent years, with rising disposable incomes and a growing middle class. This has led to increased consumer spending on home furnishings and an overall higher demand for furniture. Additionally, low interest rates and favorable financing options have made it easier for consumers to make large purchases, further stimulating the furniture market. In conclusion, the furniture market in Czechia is developing in response to changing

Customer preferences: with a focus on modern and functional designs. Online retail and customization options are key

Trends in the market: driven by convenience and the desire for personalization. The country's tradition of craftsmanship and woodworking, along with favorable macroeconomic factors, contribute to the growth of the furniture market.

Methodology

Data coverage:

Data encompasses B2C enterprises. Figures are based on home furnishings and furniture found in every room of the home. This market is segmented by the room where the furniture is likely to be used and consists of the following: Living Room, Bedroom, Kitchen and Dining room, Bathroom, Outdoor, and Home Office. The Furniture market also includes Lamps and Lighting and Home Decor because the furnishings and accessories within these segments are not specific to any room.

Modeling approach / Market size:

Market sizes are determined by a top-down approach, based on a specific rationale for each market segment. As a basis for evaluating markets, we use national statistical offices, international institutions, in-house market research, and resources from the Statista platform. Next we use relevant key market indicators and data from country-specific associations such as consumer spending and GDP. This data helps us to estimate the market size for each country individually.

Forecasts:

In our forecasts, we apply diverse forecasting techniques. The selection of forecasting techniques is based on the behavior of the particular market. For example, exponential trend smoothing is well suited for forecasting the Furniture market with a projected steady growth. The main drivers are furniture and furnishings, carpets and other floor coverings, and consumer spending per capita.

Additional Notes:

The market is updated twice per year in case market dynamics change. The impact of the COVID-19 pandemic is considered at a country-specific level.