Living Room Furniture - Central & Western Europe

In 2024, the Living Room Furniture market in Central & Western Europe is projected to generate a revenue of US$39.56bn.
It is anticipated to experience an annual growth rate of 2.51% (CAGR 2024-2029).
When compared globally, United States leads with a revenue of US$73bn in 2024.
Looking at the per capita perspective, each individual in Central & Western Europe is expected to contribute US$117.90 towards the revenue in 2024.
In Central & Western Europe, Germany is known for its high demand for minimalist and functional living room furniture.

Definition:

This Living Room Furniture segment refers to movable objects that are designed to be used in a living room, which is typically a central and multi-functional space in a home. It includes items that are intended to make the room more comfortable and functional, such as seating, tables, and storage unts (e.g., TV stands, console tables, etc.)

Structure:

The Living Room Furniture segment is divided into two subsegments:

The Seats & Sofas subsegment refers to furniture designed for sitting, lounging, or reclining, and typically includes items such as sofas, armchairs, recliners, and ottomans.
The Cabinets, TV Stands, & Side Tables subsegment refers to furniture items that are designed to store or hold various objects such as media equipment, drinks, books, or lamps.

Additional Information:

The Living Room Furniture segment consists of revenue and average revenue per capita data. Per capita figures consider the whole population. This segment 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.

Sofas and armchairs, dining chairs
Bar tables and chairs, stools, and benches
Coffee, console, and side tables
TV and media furniture

Consumer electronics
Household appliances
Lamps and lighting
Floor covering

The Living Room Furniture market in Central & Western Europe is experiencing steady growth due to changing customer preferences, emerging trends, and local special circumstances.

Customer preferences: in Central & Western Europe are shifting towards more modern and minimalist living room furniture designs. Customers are increasingly looking for furniture that is sleek, functional, and space-saving. This preference for modern designs is driven by the desire for a contemporary and clean look in living spaces. Additionally, customers are also placing importance on the quality and durability of the furniture, seeking long-lasting pieces that can withstand daily use. Trends in the market include the rise of online furniture shopping, which has gained popularity in Central & Western Europe. Online platforms provide customers with a wide range of options, competitive prices, and convenient delivery services. This trend is driven by the increasing digitalization of society and the ease of comparing products and prices online. Customers are also becoming more environmentally conscious, leading to a growing demand for sustainable and eco-friendly furniture. Manufacturers are responding to this trend by using materials and production processes that have a lower environmental impact.

Local special circumstances: in Central & Western Europe also contribute to the development of the Living Room Furniture market. The region has a high standard of living and disposable income, allowing customers to invest in high-quality furniture. Additionally, Central & Western Europe has a strong tradition of craftsmanship and design, which is reflected in the furniture industry. Customers appreciate the attention to detail and craftsmanship that is often associated with furniture made in this region. Underlying macroeconomic factors also play a role in the growth of the Living Room Furniture market in Central & Western Europe. The region has experienced economic stability and growth in recent years, leading to increased consumer spending. Low interest rates and favorable financing options have made it easier for customers to purchase furniture. Furthermore, the growing urbanization and smaller living spaces in many Central & Western European cities have created a demand for compact and multifunctional furniture. Overall, the Living Room Furniture market in Central & Western Europe is developing in response to changing customer preferences, emerging trends, local special circumstances, and

Underlying macroeconomic factors:. The market is expected to continue growing as customers seek modern and functional furniture, online shopping becomes more prevalent, sustainability becomes a priority, and the region's economic stability and urbanization continue.

Data coverage:

Data encompasses B2C enterprises. Figures are based on home furnishings and furniture found in every room of the home. This market is categorized by the room where the furniture is likely to be used and consists of the following: Living Room, Bedroom, Kitchen & Dining room, Outdoor, Home Office, and Baby & Children's Furniture. The Furniture market also includes Lamps and Lighting and Home Décor because the furnishings and accessories within these categories 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.

This report presents a comprehensive analysis and additional information on the Consumer market, in a PDF format.

From homeware to office furniture, even expanding over to pet care, the furniture industry is all-encompassing and ever-growing. Be it homes, schools, offices, or even outdoors, furniture is what gives a room its function and purpose.