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:
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.
Notes: Data was converted from local currencies using average exchange rates of the respective year.
Most recent update: Nov 2024
Source: Statista Market Insights
Most recent update: Jul 2024
Source: Statista Market Insights
Most recent update: Nov 2024
Source: Statista Market Insights
Most recent update: Mar 2024
Source: Statista Company Insights
Most recent update: Mar 2024
Source: Statista Market Insights
Most recent update: Nov 2024
Source: Statista Market Insights
The Living Room Furniture market in Ethiopia is experiencing significant growth due to changing customer preferences, emerging trends, local special circumstances, and underlying macroeconomic factors.
Customer preferences: in the Living Room Furniture market in Ethiopia have shifted towards more modern and stylish designs. Customers are increasingly looking for furniture that reflects their personal style and enhances the overall aesthetic of their living spaces. This trend is driven by the growing middle class in Ethiopia, who have higher disposable incomes and a desire to upgrade their homes. Additionally, customers are placing a greater emphasis on comfort and functionality, seeking furniture that offers both style and practicality. Trends in the market include the rising popularity of modular furniture. Modular furniture allows customers to customize their living spaces according to their specific needs and preferences. This flexibility appeals to customers who want furniture that can adapt to different room sizes and layouts. Another trend is the increasing demand for eco-friendly and sustainable furniture. Customers are becoming more conscious of the environmental impact of their purchases and are seeking furniture made from sustainable materials and produced using environmentally friendly manufacturing processes.
Local special circumstances: in Ethiopia also contribute to the development of the Living Room Furniture market. Ethiopia has a rich cultural heritage and a tradition of craftsmanship, which has led to the production of high-quality furniture. Local artisans and manufacturers are able to create unique and handcrafted pieces that appeal to customers looking for one-of-a-kind furniture. Additionally, Ethiopia has a growing urban population, which has resulted in a higher demand for furniture as more people move into apartments and houses.
Underlying macroeconomic factors: also play a role in the growth of the Living Room Furniture market in Ethiopia. The country has been experiencing strong economic growth in recent years, which has led to an increase in disposable incomes and consumer spending. This has resulted in a higher demand for furniture as more people are able to afford to furnish their homes. Additionally, the government of Ethiopia has implemented policies to attract foreign direct investment and promote the manufacturing sector, which has further stimulated the growth of the furniture industry. In conclusion, the Living Room Furniture market in Ethiopia is developing due to changing customer preferences, emerging trends, local special circumstances, and underlying macroeconomic factors. Customers are seeking modern and stylish furniture that reflects their personal style, while also placing a greater emphasis on comfort and functionality.
Trends in the market: include the rising popularity of modular and eco-friendly furniture. Local special circumstances, such as ethiopia's rich cultural heritage and growing urban population, contribute to the development of the market. Underlying macroeconomic factors, such as strong economic growth and government policies, also play a role in the market's growth.
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.Notes: Based on data from IMF, World Bank, UN and Eurostat
Most recent update: Sep 2024
Source: Statista Market Insights