NEW YORK , Dec. 13, 2021 /PRNewswire/ -- The recliner sofas market analysis report has been recently added to Technavio's catalog. The report forecast the market to witness a potential growth difference of USD 12.01 Billion from 2020 to 2025. Also, this report offers a comprehensive analysis on various factors influencing the market to witness a decelerating growth momentum at a CAGR of 9.35%.
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"One of the primary growth drivers for this market is the evolving product ergonomics in terms of style", says a senior analyst for the consumer discretionary industry at Technavio. Vendors are focusing on adding newer features and designs, and better ergonomics to beat the competition. In addition, the growing preference for luxury and comfort and demand from the millennial population has encouraged vendors to offer modern, traditional, and contemporary style furniture. This rise in demand for luxury furniture will eventually influence the recliner sofas market growth positively during the forecast period.
Factors such as growing e-commerce industry and rising demand for power recliner sofas are likely to drive the market's growth during the forecast period. However, fluctuations in raw material prices, growth in furniture rentals, and the surge in demand for pre-owned recliner furniture might limit the market's growth during the forecast period", according to Technavio
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Recliner Sofas Market Segment Highlights
The recliner sofas market is segmented by distribution channel into offline and online channels.
The offline segment is likely to witness the highest growth in the market mainly due to the rising sales of recliner sofas from the department stores, specialty stores, and other conventional stores.
The online distribution channel segment is gradually expecting to witness growth owing to the rising popularity of digital platforms for retailing.
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APAC will witness the fastest market growth while contributing 33% of the overall market share during the forecast period.
China will emerge as a key market for recliner sofas in APAC.
Market growth in APAC will be faster than the growth of the market in other regions.
The growth of this market can be attributed to the growing clusters of furniture hypermarkets, higher living standards, and rapid changes in customer preference.
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The recliner sofas market will witness a YOY growth of 16.45% in 2021.
The market is fragmented due to the presence of many established vendors holding significant market share.
The market analysis report offers information on several market vendors, including American Leather Operations LLC, Ashley Furniture Industries Inc., Dorel Industries Inc., Haverty Furniture Companies Inc., Inter IKEA Holding BV, Jaymar, LaZBoy Inc., Man Wah Holdings Ltd., PREMIEREHTS LLC, and Raymour and Flanigan Furniture and Mattresses
For Personalizing this report to cater your business requirements, Speak with our Analysts
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Decelerate at a CAGR of 9.35%
North America, Europe, APAC, South America, and MEA
US, China, UK, Canada, and Germany
Leading companies, competitive strategies, consumer engagement scope
American Leather Operations LLC, Ashley Furniture Industries Inc., Dorel Industries Inc., Haverty Furniture Companies Inc., Inter IKEA Holding BV, Jaymar, LaZBoy Inc., Man Wah Holdings Ltd., PREMIEREHTS LLC, and Raymour and Flanigan Furniture and Mattresses
Parent market analysis, Market growth inducers and obstacles, Fast-growing and slow-growing segment analysis, COVID-19 impact and future consumer dynamics, market condition analysis for the forecast period,
If our report has not included the data that you are looking for, you can reach out to our analysts and get segments customized.
About Us Technavio is a leading global technology research and advisory company. Their research and analysis focuses on emerging market trends and provides actionable insights to help businesses identify market opportunities and develop effective strategies to optimize their market positions. With over 500 specialized analysts, Technavio's report library consists of more than 17,000 reports and counting, covering 800 technologies, spanning across 50 countries. Their client base consists of enterprises of all sizes, including more than 100 Fortune 500 companies. This growing client base relies on Technavio's comprehensive coverage, extensive research, and actionable market insights to identify opportunities in existing and potential markets and assess their competitive positions within changing market scenarios.
Contact Technavio Research Jesse Maida Media & Marketing Executive US: +1 844 364 1100 UK: +44 203 893 3200 Email: media@technavio.com Website: www.technavio.com/
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