Question

write about the Chinese furniture industry and do the national market analysis trading

Answer 1

CHINESE FURNITURE INDUSTRY

1. Introduction :

From three different lineages dates back from 1000BC chinese furniture evolved. It is based on frame and panel yoke and rack based on a port and rail seen in architecture. and bamboo construction techniques. Chinese home furniture evolved independently of Western furniture into many similar forms including chairs, tables, stools, cupboards, cabinets, beds and sofas. Near about the 10th century the Chinese sat on mats or low platforms using low tables, in typical Asian style, but then slowly moved to using high tables with chairs.

Chinese furniture traditionally consisted of four distinct categories, all formed by the mid Qing dynasty, but each with its own unique characteristics.

a) Beijing Category

b) Guangzhou Category

c) Shanghai Category

d) Suzhou Category

2. Market Size and Forecast.

China Furniture Market is growing at a faster pace with considerable growth rates over the last few years and is estimated that the market will grow outstandingly in the forecasted period. Growing GDP, economic stability and profitability such as increasing disposal income, per capita income and growing population combined with urbanization are contributing to the growing demand for China Furniture Market. The China Furniture Market report provides a entire evaluation of the market. The report offers a aggregate analysis of key segments, trends, drivers, restraints, competitive landscape, and factors that are playing a important role in the market.

3. Market Overview : High population base has led to increase in the demand for furniture. Also increasing disposal incomes of the people across the region are strengthen the development of the Chinese furniture industry. Growing urbanization, increasing real estate development and customers are willing to spend more on furniture and floor coverings are charges the growth of the China Furniture Market.

Strong growth in the GDP combined with economic stability is considered as major factor contributing the growth of the China Furniture Market. China is the major exporter of wooden furniture across the world is driving the growth of the China Furniture Market. Major countries in which china exports furniture are European Union, the United States, Hong Kong, Japan, and Vietnam.

China Furniture Market is facing challenges from the real estate cycle, high raw material prices as compared to the profit. Also outbreak of COVId-19 has shown a negative impact on the China Furniture Market. These are some factors that are expect to restrict the growth of the China Furniture Market.

5. China Furniture Market Analysis.

5.1 China Furniture Market by Type

a) Home

b) Office

c) Contract

Based on Type, China Furniture Market is segmented into, Home, Office and Contract. Home segment is expected to grow with highest CAGR during the forecasted period due to improvement of housing conditions and the willingness of Chinese residents to invest more in home furnishing.

5.2 China market by production

a) Handmade

b) Finished Furniture

C) Custom furniture

Based on Production, China Furniture Market is segmented into Handmade, Finished furniture and Custom furniture. Custom furniture segment is expected to grow at the fastest pace during the forecasted period. Customized furniture permits customers to select feature on their own, owing to changing demand. Thus many companies are coming up with personalized product designs and offer installation services.

5.3 China Furniture Market By Metal

Metal

• Wood

• Plastic

• Glass

• Others

Based on Material, China Furniture Market is segmented into Metal, Wood, Plastic, Glass and Others. Wood material segment is expected to hold the largest share in the China Furniture Market as China is one of the biggest exporters of wooden furniture and the availability of natural sources is fueling the growth of the segment.