According to market research firm Technavio analysts predicted that 2017-2021, the global home decoration electric market annual compound annual growth rate of nearly 20%.

        The agency's market research report covers the status and prospects of the global home furnishings market in 2017-2021. Report the home decoration products are mainly divided into furniture, home decorations and other decorative products. Which 2016 furniture accounted for the overall market share of nearly 48%.

        "The growth in the real estate and residential sectors has had a positive impact on the growth of the global furniture market.With the growing global population, the real estate industry is booming and the furniture market has grown over the past 20 years," said TamalSaha, principal analyst at Technavio Furniture and Home Decoration. To achieve the index growth.With the increase in network penetration, the market will grow further, and ultimately will promote the prosperity of home decoration electricity market.

        Technavio analysts show that the growth of the global home decoration business market, there are three major factors:

1, the demand for high-end furniture continues to grow

        At present, due to economic growth and increased purchasing power of consumers, more and more people choose to buy luxury furniture brand, which greatly promote the development of home decoration market. High-end furniture is regarded by consumers as a symbol of status. Consumers will also choose high-end furniture for the home office. In China, the United Arab Emirates and South Korea and other Asia-Pacific region and the Middle East, Africa, a number of emerging countries, consumers demand for luxury home decoration continues to increase.

        Globalization also plays an important role in the development of luxury furniture industry. With the rise in luxury furniture prices, suppliers can buy a product for each higher profits.

2, manufacturers and retailers to expand globally

        In recent years, home decoration electricity market is fast globalization. The globalization of the home decoration market is driven by technological innovation and global investment and trade barriers.

       As large retailers and manufacturers want to reduce manufacturing costs, so the establishment of a large-scale production and retail network. In 2014, China was one of the best-selling markets for IKEA products, and IKEA launched stores in Morocco (2015), Jordan, Croatia, Indonesia and South Korea (2014), and expanded its business to globalization.

        "Emerging countries are interested in attracting global furniture and home furnishings and selling products to the local market, which will bring new designs, styles and a wide variety of home furnishings to encourage consumption," Tamal said. Buy it. "

3, real estate and housing industry growth

        The prosperity of the real estate and housing industries is also one of the key factors driving the global home decoration and furniture market development. India's real estate market is expected to grow by more than $ 180 billion by 2020, and the influx of foreign direct investment (FDI) will also boost the market boom during the forecast period.

        Over the past few years, residential investment in the European market has also increased. In the UK, there are more and more students interested in first-tier cities rented. These students are one of the target audience, they choose to live in a rental housing or boarding in someone else's home, which also to the home decoration market to create a demand.


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