Saudi Arabia Home Furniture Market to Register 7.4% CAGR Through 2030 | Key Drivers and Opportunities

MarkNtel Advisors recently published a detailed industry analysis of the Saudi Arabia Home Furniture Market. The report covers growth trends, geographical marketing strategies, challenges, opportunities, and drivers influencing the market.

Saudi Arabia Home Furniture Market, Share, and Trends Analysis Report – Industry Overview and Forecast to 2030

The Saudi Arabia Home Furniture Market is estimated to grow at a CAGR of around  7.4% during the forecast period, i.e., 2024-30.

Key Findings in Saudi Arabia Home Furniture Market:

• Historical Analysis: 2019–2022
• Base Year: 2023
• Forecast Period: 2024–2030

Leading Market Players- B&B Italia, Natuzzi, Kare Design, Ashley Furniture Industries Inc., ID Design, Wayfair, Saudi Modern Factory Company, IKEA, Oppein Home Group, Williams-Sonoma, Others

Key Highlights of the Report

• Market Dimensions And Projections
• Pricing Evaluation,
• Recent Strategic Moves by Companies,
• Primary Stakeholders,
• Analysis of Import and Export Trends,
• Competitive Landscape Assessment,
• Emerging Opportunities,
• Market Trends and Indicators

What are the major Driver the Saudi Arabia Home Furniture industry?

Expansion in the Residential Sector to Impel the Furniture Demand – The increasing real estate development projects as well as the growing demand for residential property in Saudi Arabia has infused the growth of home furniture in the country. Moreover, the government of Saudi Arabia has taken several initiatives, such as the Housing Program Vision 2030, the Sakani Program, and the Ministry of Housing Infrastructure Program, which has heightened the establishment of new residential units in the country.

Further, the burgeoning investments for developing socio-economic infrastructure by the Ministry of Housing in the country have driven the demand for home furniture. In 2018, the Saudi Arabia government launched the ‘Housing Program’ to create a vibrant environment for families & society. The program was initiated to set up new standards for the development of the residential sectors to provide affordable housing options to the citizens of Saudi Arabia.

Thus, the rising expansion of the residential sector has eased the population to purchase property, which, in turn, has boosted the demand for home furniture in Saudi Arabia.

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What segments define the Saudi Arabia Home Furniture Market from 2024 to 2030? How do these segments contribute to market dynamics and growth?

By Type of Furniture

• • Bedroom Furniture- Market Size & Forecast 2019-2030F, USD Million
    • Bed– Market Size & Forecast 2019-2030F, USD Million
      • Low End— Market Size & Forecast 2019-2030F, USD Million
      • Mid Segment— Market Size & Forecast 2019-2030F, USD Million
      • High End— Market Size & Forecast 2019-2030F, USD Million
    • Others (Side-table, Closets & Cabinets, etc.) — Market Size & Forecast 2019-2030F, USD Million
  • Living Room Furniture- Market Size & Forecast 2019-2030F, USD Million
    • Seats– Market Size & Forecast 2019-2030F, USD Million
    • Sofas– Market Size & Forecast 2019-2030F, USD Million
      • Low End— Market Size & Forecast 2019-2030F, USD Million
      • Mid Segment— Market Size & Forecast 2019-2030F, USD Million
      • High End— Market Size & Forecast 2019-2030F, USD Million
    • Others (Dining table, Cabinets, TV & other storage units, etc.) — Market Size & Forecast 2019-2030F, USD Million

According to report, Bedroom Furniture sales increased significantly in the Saudi Arabian Home Furniture market due to the growing number of residential buildings.

By Sales Channel

• • Offline- Market Size & Forecast 2019-2030F, USD Million
  • Online- Market Size & Forecast 2019-2030F, USD Million

According to report, Here, Offline stores acquired a significant share in the Saudi Arabia Home Furniture market, historically, owing to the inclination of the residents to get assured of the quality of furniture & check if that meets their residential space requirements.

By Material Type

• • Wood- Market Size & Forecast 2019-2030F, USD Million
  • Metal- Market Size & Forecast 2019-2030F, USD Million
  • Glass- Market Size & Forecast 2019-2030F, USD Million
  • Plastic- Market Size & Forecast 2019-2030F, USD Million
  • Others (Rattan/Wicker, Upholstery, etc.)- Market Size & Forecast 2019-2030F, USD Million

Explore the Complete Saudi Arabia Home Furniture Market Analysis Report – https://www.marknteladvisors.com/research-library/saudi-arabia-home-furniture-market.html

Geographical Analysis: Saudi Arabia Home Furniture Market

 By Region

• East
• West
• South
• Central

Key Questions Addressed in This Study

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• What key insights can be drawn from current trends shaping the market?
• What is the current market size, and how is it forecasted to change in the coming years?
• What is the future outlook for the market in terms of technological innovation and geographic expansion?

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Why MarkNtel Advisors?

MarkNtel Advisors is a leading research, consulting, And data analytics firm that provides an extensive range of strategic reports on diverse industry verticals. We deliver data to a substantial And varied client base, including multinational corporations, financial institutions, governments, And individuals, among others.

Our specialization in niche industries informed way and entail parameters like Go-to-Market (GTM), product development, feasibility analysis, project scoping, market segmentation, competitive benchmarking, market sizing And forecasting, And trend analysis, among others, for 15 diverse industrial verticals.

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