Household Furniture And Kitchen Cabinet Manufacturing Market … – Yahoo Finance
LONDON, Jan. 24, 2017 /PRNewswire/ — The household furniture and kitchen cabinet manufacturing market comprises all firms engaged in producing household furniture including furniture for kitchen, bedroom and living room.
Asia was the largest region in the household furniture and kitchen cabinet manufacturing market in 2016, accounting for 38% market share. This can be attributed to high demand for household and kitchen furniture from middle class population in countries such as China and India owing to rising disposable income. The Americas was the second largest region accounting for 36% market share. Europe was the third largest region accounting for 22% market share.
RTA furniture is gaining traction among homeowners and renters globally. This is primarily because RTA furniture are cheap and serve the purpose of quick furnishings. A RTA furniture, also known as Knock Down furniture is not assembled by the manufacturer, and is available in parts with instructions to assemble the piece of furniture . This furniture has been popular for a while in developed countries, but RTA furniture has been gaining traction in developing economies such as China and India. RTA furniture also benefits manufacturers by eliminating the assembly time and cost of manufacturing, which allows manufacturers to focus only on design and production of parts . Some of the examples of RTA furniture include RTA bedroom sets, RTA dressers, RTA computer desks, RTA bookcases and RTA filing cabinets .For instance, IKEA a major ready to assemble manufacturer, is setting up its store in Hyderabad, India, owing to high demand for ready to assemble furniture in India.
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