Living Room Furniture - Slovakia | Statista Market Forecast

In Slovakia, the revenue generated in the Living Room Furniture market in 2024 amounts to US$176.10m.
It is projected that this market will experience an annual growth rate of 0.54% from 2024 to 2029 (CAGR).
When compared globally, United States generates the highest revenue in this segment, reaching a total of US$73bn in 2024.
Taking into account the total population figures, per person revenues of US$30.88 are generated in 2024.
The demand for modern and functional living room furniture is on the rise in Slovakia, as consumers seek to create stylish and comfortable spaces for relaxation and entertainment.

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 Slovakia has been experiencing steady growth in recent years. Customer preferences have played a significant role in shaping this market, with a growing demand for modern and multifunctional furniture. Additionally, local special circumstances and underlying macroeconomic factors have contributed to the development of the market.

Customer preferences: in the Living Room Furniture market in Slovakia have shifted towards modern and multifunctional furniture. Consumers are increasingly looking for furniture that not only provides comfort but also enhances the aesthetic appeal of their living spaces. This trend is driven by the desire to create a contemporary and stylish atmosphere in the home. As a result, furniture manufacturers have been focusing on designing and producing innovative pieces that cater to these preferences. Trends in the market also reflect the global and regional market. The rise of urbanization and smaller living spaces has led to a growing demand for compact and space-saving furniture. This trend is particularly relevant in Slovakia, where urban areas are expanding and apartment living is becoming more common. Consumers are seeking furniture that can maximize the use of limited space without compromising on comfort or functionality. Another trend in the Living Room Furniture market in Slovakia is the increasing popularity of eco-friendly and sustainable furniture. Consumers are becoming more conscious of the environmental impact of their purchases and are actively seeking products that are made from sustainable materials and produced using eco-friendly manufacturing processes. This trend is in line with the global shift towards sustainability and reflects the growing awareness of environmental issues among consumers.

Local special circumstances: such as cultural influences and lifestyle choices, also play a role in shaping the Living Room Furniture market in Slovakia. The country has a rich cultural heritage, and traditional elements are often incorporated into modern furniture designs. This blend of traditional and contemporary styles appeals to consumers who value their cultural heritage while embracing modernity.

Underlying macroeconomic factors: have contributed to the growth of the Living Room Furniture market in Slovakia. The country has experienced steady economic growth in recent years, which has resulted in increased disposable income and consumer spending. As a result, consumers have more purchasing power and are willing to invest in high-quality furniture for their living rooms. Additionally, favorable interest rates and easy access to credit have made it easier for consumers to finance their furniture purchases. In conclusion, the Living Room Furniture market in Slovakia is developing in response to customer preferences for modern and multifunctional furniture, as well as the demand for compact and eco-friendly designs. Local special circumstances, such as cultural influences, and underlying macroeconomic factors, including economic growth and favorable financing conditions, have also contributed to the growth of the market.

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.