Global Outdoor Furniture Market 2019-2023 | Increasing Demand for Environment-Friendly Outdoor Furniture to Boost Growth | Technavio

The global outdoor furniture market is expected to post a CAGR of more than 5% during the period 2019-2023, according to the latest market research report by Technavio. Request a free sample report

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Technavio has announced its latest market research report titled global outdoor furniture market 2019-2023. (Graphic: Business Wire)

End-users in the hospitality industry and other commercial spaces are increasingly adopting patio heaters to enhance the ambiance of outdoor spaces by ensuring warm temperature zones. The proliferation of pubs and restaurants that have outdoor dining spaces have further increased the demand for patio heaters. The growing number of dine-outs and bars are also driving the volume sales of patio heaters. With growing product awareness, end-users in the residential sector are increasingly adopting patio heaters in home outdoor spaces. To cater to the growing demand from commercial and residential end-users, market vendors are offering a wide range of patio heaters with various designs. The increasing demand for patio heating products in commercial and residential spaces is one of the key factors driving market growth.

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Global Outdoor Furniture Market: Increasing Demand for Environment-Friendly Outdoor Furniture

Several vendors in the market are increasing their focus towards the adoption of green solutions owing to rising environmental concerns resulting from deforestation, and the use of toxic finishes. Such vendors are offering outdoor furniture made of Moso bamboo, which is stronger than other wood products, including oak. The use of such natural materials enhances the aesthetic appeal of outdoor furniture and improves its ability to withstand harsh weather conditions. Therefore, the rising demand for environment-friendly outdoor furniture is one of the key trends that will fuel market growth.

“Apart from rising demand for environmental-friendly outdoor furniture, the increasing availability of multi-functional outdoor furniture and growing online sale of outdoor furniture products are some other major factors that will boost market growth during the forecast period,” says a senior analyst at Technavio.

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Global Outdoor Furniture Market: Segmentation Analysis

This market report segments the global outdoor furniture market by product (outdoor furniture and accessories, outdoor grills and accessories, and patio heating products), end-users (residential and commercial), distribution channel (offline and online), and geography (APAC, Europe, MEA, North America, and South America).

The North American region led the market in 2018, followed by APAC, Europe, South America, and MEA respectively. During the forecast period, the North American region is expected to maintain its dominance over the global market due to the rise in the number of commercial properties, restaurants, and pubs in the region.

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Some of the key topics covered in the report include:

Market Landscape

• Market ecosystem
• Market characteristics
• Market segmentation analysis

Market Sizing

• Market definition
• Market size and forecast

Five Forces Analysis

Market Segmentation

Geographical Segmentation

• Regional comparison
• Key leading countries

Market Drivers

Market Challenges

Market Trends

Vendor Landscape

• Vendors covered
• Vendor classification
• Market positioning of vendors
• Competitive scenario

About Technavio

Technavio is a leading global technology research and advisory company. Their research and analysis focuses on emerging market trends and provides actionable insights to help businesses identify market opportunities and develop effective strategies to optimize their market positions.

With over 500 specialized analysts, Technavio’s report library consists of more than 10,000 reports and counting, covering 800 technologies, spanning across 50 countries. Their client base consists of enterprises of all sizes, including more than 100 Fortune 500 companies. This growing client base relies on Technavio’s comprehensive coverage, extensive research, and actionable market insights to identify opportunities in existing and potential markets and assess their competitive positions within changing market scenarios.

View source version on businesswire.com: https://www.businesswire.com/news/home/20191011005341/en/

Technavio Research
Jesse Maida
Media & Marketing Executive
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