According to the latest research report of Canadian market research company TechSci Research, India's furniture market will reach US $ 32 billion by 2019. Indian palaces are so magnificent and imposing, the furniture market behind them is naturally different.
Due to the rapid growth of Indian residents' disposable income, the middle class group and the urban population, coupled with the growth expectations of the tourism and hotel industry, these factors will greatly stimulate the demand for furniture by 2019. In the west and south of India, due to the expanding distribution network of furniture manufacturers, it will continue to be the leading revenue generating region. Uttar Pradesh, Kerala, Punjab, West Bengal, and Andhra Pradesh are the main wood suppliers, and wood is also the most widely used raw material in the Indian furniture market.
The report pointed out that wood furniture will continue to dominate the Indian furniture market, and the domestic furniture market will develop rapidly in the next five years, followed by office furniture and public furniture. Some major furniture companies such as Godrej Interio, Durian, Wipro, Evok, and Nilkamal, due to their diversified product lines, rich distribution network, and franchise stores, will achieve great development in the next five years.
At the same time, there will be another trend in the Indian furniture market, that is, more and more Indian furniture manufacturers are beginning to cooperate with foreign furniture manufacturers to improve product design and quality.
"With the increase in employment opportunities, the purchasing power of Indian consumers is also rising, and this will promote the increasing demand for designers and custom furniture in the next five years and promote the prosperity of the industry." TechSci? Karan Chechi, director of Research, said. "Godrej Interio, Nilkamal, Featherlite and Durian are the leading companies in the Indian furniture market. However, due to the lower barriers to entry, several new companies will enter this market."
But at the same time, India's poor people's lives are so miserable that you can't imagine, why the furniture market has such a large scale?
Due to the rapid growth of Indian residents' disposable income, the middle class group and the urban population, coupled with the growth expectations of the tourism and hotel industry, these factors will greatly stimulate the demand for furniture by 2019. In the west and south of India, due to the expanding distribution network of furniture manufacturers, it will continue to be the leading revenue generating region. Furniture Fannet learned that Uttar Pradesh, Kerala, Punjab, West Bengal, and Andhra Pradesh are the main wood suppliers, and wood is the most widely used raw material in the Indian furniture market.
The report pointed out that wood furniture will continue to dominate the Indian furniture market, and the domestic furniture market will develop rapidly in the next five years, followed by office furniture and public furniture. Jiuzheng Building Materials Network learned that some major furniture companies such as Godrej Interio, Durian, Wipro, Evok and Nilkamal, due to the diversified product series, rich distribution network and specialty stores, will gain a large development of.
At the same time, there will be another trend in the Indian furniture market, that is, more and more Indian furniture manufacturers are beginning to cooperate with foreign furniture manufacturers to improve product design and quality.
"With the increase in employment opportunities, the purchasing power of Indian consumers is also rising, and this will promote the increasing demand for designers and custom furniture in the next five years and promote the prosperity of the industry." TechSci? Mr. Karan Chechi, director of Research, said. "Godrej Interio, Nilkamal, Featherlite and Durian are the leading companies in the Indian furniture market. However, due to the lower barriers to entry, several new companies will enter this market."
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