The global Console Table Market is estimated to be valued at US$ 4.64 Bn in 2023 and is expected to exhibit a CAGR of 5.4% over the forecast period 2023 to 2030, as highlighted in a new report published by Coherent Market Insights.
Market Overview: Console tables are small tables designed to hold items such as keys, mail, and small decorative items. They provide extra storage space and enhance the overall aesthetics of a room. The market offers a variety of console table designs made from materials such as wood, metal and glass catering to different consumer needs.
Market key trends: One of the key trends in the console table market is the growing popularity of multifunctional furniture. Manufacturers are focusing on designing console tables that offer additional functionalities along with Storage. For example, some models feature drawers, cubby holes, shelves and built-in drawers to maximize storage. They are also integrated with charging ports and mirrors to serve dual purposes. This has increased their utility leading to higher demand.
Segment Analysis:
The global console table market is segmented based on material type, design, end use, distribution channel and region. By material type, wood segment dominates the market owing to increasing demand for furniture made from hardwood. Wood furniture gives a classic and luxurious look and feel. By design, rectangular segment holds the largest market share as they fit well in small spaces and look aesthetically pleasing. In terms of end use, residential segment holds the highest share in the console table market as people are increasingly investing in home décor.
Key Takeaways:
The global Console Table Market is expected to witness high growth, exhibiting CAGR of 5.4% over the forecast period, due to increasing home remodeling and renovation activities.
Regional analysis - North America dominates the global console table market due to growing consumption of luxury furniture in countries like US and Canada. Asia Pacific is projected to witness fastest growth owing to rising disposable incomes and growing middle class population in the region.
Key players operating in the console table market are IKEA, Ashley Furniture Industries, La-Z-Boy, Ethan Allen, Restoration Hardware (RH), Crate & Barrel, Pottery Barn, Wayfair, West Elm, Bernhardt. The global console table market is fairly consolidated in nature with top players accounting for majority of the market share. Key players are focusing on new product launches and expansion in emerging markets to strengthen their market position.
The global console table market size is expected to witness high growth, exhibiting CAGR of 5.4% over the forecast period 2023 to 2030, due to increasing home remodeling and renovation activities. North America dominates the global console table market due to growing consumption of luxury furniture in countries like US and Canada. Asia Pacific is projected to witness fastest growth owing to rising disposable incomes and growing middle class population in the region. Key players operating in the console table market are IKEA, Ashley Furniture Industries, La-Z-Boy, Ethan Allen, Restoration Hardware (RH), Crate & Barrel, Pottery Barn, Wayfair, West Elm, Bernhardt. The global console table market is fairly consolidated in nature with top players accounting for majority of the market share. Key players are focusing on new product launches and expansion in emerging markets to strengthen their market position. The global console table market size for 2023 is US$ 4.64 Bn.
Read More: https://www.ukwebwire.com/console-table-market-size-share/
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