Ready to Assemble furniture is called furniture to be assembled or assembled with specification parts. It is furniture with the main features of component production, sales, and on-site assembly. It clarifies the concept of components as products. RTA components have been standardized and serialized. High-precision or computer-controlled special equipment guarantees their high quality. The connection of the plate parts adopts the flat mouth combination method, and the round tenon and the hardware parts can be smoothly assembled without any trimming. These furnishings are found in all kinds of settings, including offices, dorm rooms, bedrooms, and even outdoors. Any furniture that comes under the category of RTA furniture includes Dressers, Nightstands, Swingsets, Beds, Cube organizers, Desks, Kitchen Cabinets, Wardrobes, Entertainment Centers, and so on.
Global ready to assemble furniture market size projected to grow at a CAGR of over 5.12 % during 2020–2027. The growth of the market can be attributed to factors such as the shifting consumer preference towards flexible furniture on account of the increasing trend for small spaced apartments. Further, consumer’s seemingly limitless craving for televisions, computers, and other electronic devices is anticipated to fuel the demand for ready to assemble furniture across the globe in the coming years. Additionally, the advent of e-commerce and the availability of free pick-up and delivery opportunity is strengthening the market growth. Moreover, the surge in popularity of high rise buildings, which obstructs big sized furniture, is expected to witness remarkable growth of ready to assemble furniture industry.
The design of the assembled furniture is more material-saving, and the production is more straightforward. The surge in demand for ready to assemble furniture in homes due to improved quality and increased options and styles will foster market growth. Furthermore, the rise in demand for convenient and comfortable shopping as a result of their hectic lifestyles and work schedules is positively impacting the demand for ready to assemble furniture in the future period. The rise in consumer preference for more trendy and innovative product designs is also fueling the demand for ready to assemble furniture in the analysis periods. Additionally, the increasing trend of shifting to a new place for job or business purposes, particularly by the younger generation, will boom the market growth in the estimated periods. The surge in demand for the RTA storage cabinets and bookshelves on account of the high demand for customization needs of these products will promulgate the global ready to assemble furniture market share.
The ready to assemble furniture is easy to use and assemble, more convenient to carry. Urban residents generally live in buildings. In this way, it is very inconvenient to choose single-piece large cabinets, large bookcases, chests of drawers, etc. The assembled furniture is connected by metal components, which is convenient for disassembly and assembly. A set of furniture looks like a giant, which can be completed by one person. It is called furniture to be assembled or assembled furniture with specification parts. It is furniture with the main features of component production, sales, and on-site assembly.
Based on material, the global Ready to assemble furniture market classified into wood, glass, plastic, steel, and metal. The wood segment accounted for the highest market share in 2019. It is attributable to its long durability, more robust reliability, and great appearance, which makes it an essential category in the home furnishing segment.
The steel segment will garner a significant market share in the forecast period. It is owing to consumer preference for steel furniture to its strong bearing capacity and longer life, and it is used in RTA shelves and storage organizers as a result of the rigid and stronghold of bolts.
Based on the application, the global Ready to assemble furniture market segregated into residential and commercial. The residential segment held a higher revenue share in 2019 and projected to dominate the ready to assemble furniture market by 2027. It is primarily attributed to the increasing prices of conventional furniture, and RTA furniture help to save households space on account of being portable and flexible to provide a spacious feel to the house.
The commercial segment will grow with a lucrative growth rate in the forecast period. It is due to businesses and offices that are using RTA furniture as it is low budget investment allotted to office décor and furnishing with easy storage and shelving experience. Additionally, growing trends of relocation in cases of new businesses increases the importance of RTA furniture in the commercial application.
Based on distribution, the global Ready to assemble furniture market classified into online and offline (large format stores, exclusive stores, and small retail shops). The offline segment will garner higher market potential by 2027. It is due to the easy availability of customized furniture in large format stores, exclusive stores, and small retail shops.
The online segment will be the fastest-growing segment in the forecast period due to the growth of the e-commerce industry and the availability of free pick-up and delivery by online retailers.
By geography, the global Ready to assemble furniture market segmented into North America, Europe, Asia Pacific, South America, and Middle East & Africa. Europe is slated to account for a significant share by 2027 in the ready to assemble furniture market. The growth in the region can be attributed to the growing importance of portable and flexible furniture in countries like the UK, France, and Germany, etc. and changing shift of consumers towards the trend of corner kitchen, which helps in utilizing space more efficiently.
The Asia Pacific is expected to provide significant growth opportunities due to rising disposable income of the population, increasing the real estate sector in developing countries, and the surge in demand for the customization and space-saving features by the young people.
Companies such as Inter IKEA Holding, Sauder Woodworking Company, Dorel Industries Inc., Ashley Home Stores, Ltd., Steinhoff International, Alphason Designs, Godrej Interio, DMI Furniture, Inc, Tvilum A/S, Simplicity Sofas, Sauder Woodworking Company, Fabritec (EUROSTYLE), Bush Industries, Inc. and Home Reserve LLC., are the key players in the global ready to assemble furniture market.
By Distribution Channel
Global Ready to Assemble Furniture Market