Side Table Market Revenue Growth, Key Drivers, and Industry Trends to 2032
Side Table Market Revenue Growth, Key Drivers, and Industry Trends to 2032
The global side table market size was valued at USD 12.66 billion in 2023. The market is set to expand from USD 13.12 billion in 2024 to USD 19.03 billion by 2032, exhibiting a CAGR of 4.75% during the forecast period.
Side tables are made from an extensive range of materials such as glass, wood, and metal, among others. The mounting consumer inclination toward home aesthetics propels the demand for unique and stylish tables, propelling industry growth.
The COVID-19 pandemic severely impacted the industry considering the delays in product manufacturing and supply. This was mainly due to hindrances in production activities across various regions. However, online sales and virtual showrooms prompted the demand for the side tables.
Fortune Business Insights™ provides this information in its research report, titled “Side Table Market, 2024-2032”.
Top Key Players in the Side Table Market
Steelcase Inc. (U.S.)
Ashley Furniture Industries, Inc.
GLOBAL FURNITURE USA
KOKUYO Co., Ltd. (Japan)
Ethan Allen Global, Inc. (U.S.)
Godrej & Boyce Mfg. Co. Ltd. (India)
B&B ITALIA SPA (Italy)
Sunpan Trading & Importing, Inc. (Canada)
CB2 (U.S.)
Pepperfry Limited (India)
IKEA (Sweden)
HNI Corporation (U.S.)
Natuzzi S.p.A. (Italy)
Dorel Industries Inc. (Canada)
Read More: https://www.fortunebusinessinsights.com/side-table-market-110179
Segmentation:
Wood Segment to Register Dominant Share Owing to its Texture
Based on material, the market is divided into plastic, metal, wood, and others. The wood segment is touted to hold a dominating position in the global market. This can be attributed to the texture and warmth of the material that helps enhance the aesthetics of a place.
Residential Segment to Hold Key Share Due to High Product Adoption
By application, the market is bifurcated into commercial and residential. The residential segment is set to record a major market share over the analysis period. Side tables help add to the aesthetics and functionality of living spaces, which is a vital factor for their adoption in residential applications.
Based on geography, the market for side tables has been studied across North America, Asia Pacific, South America, Europe, and the Middle East & Africa.
Report Coverage:
The report gives an account of the key driving factors and the latest market trends. It also provides an analysis of the industry based on various segments: material, application, and geography. The report also enlists the vital steps adopted by leading industry participants to increase their market share.
Drivers and Restraints:
Product Demand to Rise as Contemporary Home Décor Gains Traction
There has been an upsurge in long-term investments in home décor. Besides, consumers are depicting a greater interest in contemporary home interiors, propelling product demand. Some of the latest trends comprise industrial, sleek, and minimalist styles, among others. These factors are set to drive side table market growth.
The volatility associated with the prices of raw materials may, however, hamper industry expansion.
Regional Insights:
Asia Pacific Accounted for Major Share Owing to High Number of Residential Construction Projects
Asia Pacific recorded the largest market share in 2023. The region registers rapid urbanization, which drives the number of residential construction projects, bolstering furniture demand. In addition, the region is a major production hub for furniture, supporting industry growth.
North America side table market share is anticipated to rise driven by a robust culture of home ownership and the rising product demand.
Competitive Landscape:
Market Players are Centered on Launching Advanced Products to Outpace their Competitors
Industry players are focused on the launch of technologically advanced products to consolidate their market positions. Some of the examples comprise the integration of smart technology, touch-sensitive controls, and integrated speakers, among others. Such products are also being launched for gaining an edge over competitors.
Key Industry Development:
April 2021 – MADS Creations, a luxury interior concepts and custom design company based in Gurgaon, India, rolled out a new collection of side tables and center tables. The tables have been designed for giving a modern edge to home interiors.