Market Definition
Furniture is considered an essential requirement at home or offices & a crucial aspect that brings solace & comfort to people while making their life simpler & efficient. Additionally, the aesthetic looks that furniture brings to a space are becoming a trendy aspect and propelling the demand for different & modern furnitures. These can include objects like tables, chairs, desks, beds, & cupboards, among others. The furniture industry uses different materials like plastic, wood, metal, etc.
Market Insights
The UAE and Saudi Arabia Furniture Market is projecting around 8.40% CAGR during the forecast period, i.e., 2021-26. It owes to the swiftly growing establishment of several businesses, i.e., propelling the demand for office spaces & furniture, coupled with the rising demand for value-added features, shapes & sizes of furniture.
| Report Coverage | Details |
|---|---|
| Study Period | Historical Data: 2016-19 |
| Base Year: 2020 | |
| Forecast Period: 2021-26 | |
| CAGR(2021-26) | 8.40% |
| Key Companies Profiled | (Offline (IIKEA, Home Centre, PAN Emirates, Royal Furniture, Danube, Marina Home, Homes R Us, IDdesign, Pottery Barn, Home Box, Natuzzi. Major, Al-Abdulkader Furniture Co. Ltd, Riyadh Furniture, industries Co., Al Jedaie, AL Rugaib Furniture, Saudi Modern Factory Company, AL Aamer Furniture, Almutlaq Furniture, Wardeh Salehiya, HABITAT FURNITURE CO. LTD., Midas Furniture, Gautier Jeddah, BoConcept ), Online (Ebarza, The People of Sand, MarMarLand, The Bowery Company, Wysada, etc. |
| Unit Denominations | USD Million/Billion |
As a result, several corporate companies & prominent market players are investing substantially in office furniture like tables, chairs, desks, and others to provide a comfortable working environment for employees & staff & augment the market growth.
Additionally, rapid infrastructural developments are also stimulating the overall market growth by displaying a massive inclination toward the construction of houses, community centers, hospitals, & educational institutions, etc., i.e., propelling the demand for suitable furniture, designed specifically to fulfill the requirements.
Besides, numerous furniture manufacturers are actively working on introducing new designs & creating furniture with different materials to add extra features that occupy minimal space. It, in turn, is instigating the demand for such modern furniture, especially among people who see luxury as a status symbol, which, in turn, is driving the market.
Key Trend in the Market
With rapid advancements in technologies like Artificial intelligence (AI), the Internet of Things (IoT), and Deep Learning, among others, several leading players in the UAE & Saudi Arabia Furniture Market are integrating them into their furniture and bringing intelligent furniture like charging phone lamps, smart home devices, smart beds, & tablet coffee tables, among various others. Additionally, since in the UAE & Saudi Arabia, procuring advanced & luxury-based items are status symbols, the demand for furniture is swiftly gaining traction in these countries is positively influencing the UAE and Saudi Arabia Furniture Market growth through 2026.
The Covid-19 pandemic in 2020 had a decelerating effect on most industries, where the UAE and Saudi Arabia Furniture Market was no exception. While governments in these countries imposed stringent movement restrictions & lockdowns to curb the spread of this dreadful disease, the market witnessed several unprecedented challenges like unavailability of raw materials & labor due to severe disruptions in the supply chain. Additionally, this temporary halt also affected the deliveries of pre-produced furniture and brought massive financial challenges to the leading market players.
Impact of Covid-19 on the UAE and Saudi Arabia Furniture Market
However, a gradual betterment in the pandemic situation with a reducing number of Covid-19 cases across the UAE & Saudi Arabia prompted governments to uplift the restrictions & allow the recommencement of business operations. Moreover, this long duration of stay-at-home among people encouraged them toward home renovation ideas, which propelled the demand for new furniture. Hence, the UAE and Saudi Arabia Furniture Market, with the revival since 2021, is witnessing an increasing demand for furniture, and the same trend is likely to be followed in the coming years.
