Furniture - Turkmenistan

Turkmenistan

In Turkmenistan, the Furniture market has generated a revenue of US$184.00m in 2024.
It is projected to experience an annual growth rate of 4.71% (CAGR 2024-2029).
Among the various segments in this market, the largest one is the Living Room Furniture segment, which has a market volume of US$57.58m in 2024.
When compared globally, in the United States leads in terms of revenue generation with US$264bn in 2024.
In relation to the population, per person revenues amount to US$27.89 in 2024.
Turkmenistan's furniture market is experiencing a surge in demand for traditional, handcrafted pieces reflecting the country's rich cultural heritage.

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 Turkmenistan has been experiencing steady growth in recent years, driven by changing customer preferences, emerging trends, and local special circumstances.

Customer preferences: in the Furniture market in Turkmenistan have shifted towards more modern and stylish designs. Customers are increasingly looking for furniture that is not only functional but also aesthetically pleasing and in line with the latest trends. This has led to a growing demand for contemporary furniture styles, such as minimalist designs and sleek finishes. Additionally, customers are placing a greater emphasis on the quality and durability of furniture, as they seek long-lasting and value-for-money products. Trends in the market have also played a significant role in the development of the Furniture market in Turkmenistan. One notable trend is the increasing popularity of online furniture shopping. With the rise of e-commerce platforms, customers now have access to a wide range of furniture options from both local and international brands. This has made it easier for customers to compare prices, read reviews, and make informed purchasing decisions. As a result, online furniture retailers have seen a surge in sales and market share. Another trend in the Furniture market in Turkmenistan is the growing demand for eco-friendly and sustainable furniture. Customers are becoming more aware of the environmental impact of their purchasing decisions and are actively seeking furniture made from sustainable materials, such as reclaimed wood or recycled plastic. This trend is driven by a combination of factors, including increased environmental consciousness, government initiatives promoting sustainability, and a desire for unique and one-of-a-kind furniture pieces.

Local special circumstances: also contribute to the development of the Furniture market in Turkmenistan. The country has a rich cultural heritage and a long history of craftsmanship, which has resulted in a thriving local furniture industry. Local artisans and craftsmen are highly skilled in creating traditional and handcrafted furniture, which appeals to both domestic and international customers. This has created a niche market for locally-made furniture, which is often seen as a symbol of quality and authenticity. Underlying macroeconomic factors have also played a role in the growth of the Furniture market in Turkmenistan. The country has experienced a period of economic stability and growth, which has led to an increase in disposable income and consumer spending. As a result, customers have more purchasing power and are willing to invest in higher-quality furniture. Additionally, government policies and incentives promoting the development of the manufacturing sector have attracted foreign investment and boosted the production of furniture in the country. In conclusion, the Furniture market in Turkmenistan is developing in response to changing customer preferences, emerging trends, local special circumstances, and

Underlying macroeconomic factors:. The shift towards modern and stylish designs, the popularity of online furniture shopping, the demand for eco-friendly and sustainable furniture, the presence of a thriving local industry, and the country's economic stability all contribute to the growth and development of the 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.