Global Storage And Modular Furniture Market Size By Type (Tables, Sofas, Cabinets, Beds, Chairs), By Application (Household, Office Application), By Geographic Scope And Forecast

Storage And Modular Furniture Market Size And Forecast

Storage And Modular Furniture Market size was valued at USD 71.81 Billion in 2024 and is projected to reach USD 104.49 Billion by 2031, growing at a CAGR of 4.80% from 2024 to 2031.

Due to the rising desire for home décor, the market for modular storage and furniture is expanding quickly worldwide. The growth of e-commerce sites has increased retail sales, which has increased demand for such furniture items. Additionally, since individuals prefer functional space layouts in compact homes or apartments, shifting lifestyle trends among customers are fueling business growth. This enables manufacturers to create cutting-edge designs that blend into home interiors without sacrificing levels of personality. Additionally, it is anticipated that this market would be driven throughout the projection period by an increase in the number of small firms with tight budgets, high operating expenses brought on by a lack of space for adequate storage, or alternative options.

Global Storage And Modular Furniture Market Definition

Any piece of furniture intended to hold objects, such as cabinets, bookshelves, shelves, and chests of drawers, is referred to as storage furniture. Storage furniture can be utilized in a range of situations, including homes, offices, and classrooms. It is available in a variety of forms and substances, such as wood, metal, and plastic.On the contrary, modular furniture is defined as furniture that can be quickly put together, taken apart, and rearranged. Individual parts or modules that may be assembled in various ways to produce various furniture combinations often make up modular furniture. For instance, a modular sofa might be made up of separate seating parts that can be changed to make different seating configurations. In places such as small flats or offices, where adaptability and flexibility are crucial, modular furniture is frequently employed.

Global Storage And Modular Furniture Market Overview

It is now simpler for customers to browse and buy modular and storage furniture online due to the expansion of e-commerce. As a result, these products are now more widely available and it is simpler for customers to choose the ideal piece of furnishings for their needs. Furthermore, More people are concentrating on decluttering and organizing their houses as a result of the popularity of simplicity and the KonMari approach. This has increased the need for storing furniture that can assist consumers in maintaining a tidy home. Modular furniture production has become more straightforward and economical as a result of developments in manufacturing technology and materials research.

This has improved the accessibility of modular furniture for a wider range of customers. Sustainability and eco-friendly furniture are in greater demand as people become more environmentally aware. Modular furniture may be disassembled and rearranged, saving waste and prolonging the life of the product. It is frequently created from recyclable materials. Moreover, custom furniture that satisfies each customer’s unique requirements is becoming more and more popular. Companies that provide modular furniture and customizable storage can benefit from this trend by offering consumers specialized solutions that are tailored to their specific needs.

The market for modular furniture and storage is broad for home buyers. There are chances to grow into emerging markets such as the company and hotel sectors. These markets may be particularly drawn to modular furniture that is simple to alter to meet evolving company requirements. Sustainability and ecologically friendly furniture are in greater demand as people become more environmentally aware. Companies may appeal to this market niche and set themselves apart from competitors by prioritizing sustainability in the design and production of their products.

Global Storage And Modular Furniture Market Segmentation Analysis

The Global Storage And Modular Furniture Market is segmented on the basis of Type, Application, And Geography.

Storage And Modular Furniture Market, By Type

• Tables
• Sofas
• Cabinets
• Beds
• Chairs
• Others

Based On Type, the market is bifurcated into tables, sofas, cabinets, beds, chairs, and others. While modular shelving systems are popular in commercial areas such as retail stores and offices, where adaptability and flexibility are crucial, modular sofas are popular in small flats or houses, where space is at a premium.

After all that, cabinets for storage are a flexible sort of furniture that can be utilized in a range of settings, including kitchens, bedrooms, and workplaces at home. They are an appealing choice for customers looking for stylish and useful storage options. Additionally, since they provide a useful solution for tiny living areas, beds with integrated storage have grown in popularity in recent years.

Storage And Modular Furniture Market, By Application

• Household
• Office Application
• Others

Based On Application, the Market is classified into household, office applications, and others. The household sector largely uses storage and modular furnishings to offer storage solutions for residences, workplaces, hotels, etc. Modular furniture and storage have various uses in the home, including in the living room, kitchen, bathrooms, and toilets. Various household products are stored using storage and modular furniture. These devices assist in improving house organization by ensuring that everything has a place to be properly stored, hence minimizing clutter.

Desks serve a purpose in offices to house computers, books, and other office supplies. File cabinets are utilized for organizing documents, etc. Because it enables flexibility in adjustments depending on the user’s needs by arranging panels within a set area, modular furniture is also known as flex space. It contains wall units that can be reconfigured into various forms and styles due to their multi-component construction without significantly altering the way the room is organized overall.

Storage And Modular Furniture Market, By Geography

• North America
• Europe
• Asia Pacific
• Latin America
• Middle East & Africa

Based On Geography, the global Storage And Modular Furniture Market is classified into North America, Europe, Asia Pacific, Latin America, and the Middle East & Africa. With the greatest compound annual growth rate during the projected period, North America was the market leader for modular storage furniture in the globe in 2022. The global market for modular furniture and storage is predicted to increase significantly in the Asia Pacific region. Due to the rising demand for contemporary furniture at retail establishments all throughout the country, China is predicted to maintain its supremacy over the next five years. Latin America finished in second while the Middle East and Africa came in fourth in the overall market.

Key Players

The “Global Storage And Modular Furniture Market” study report will provide valuable insight with an emphasis on the global market including some of the major players such as Ahrend, AFC SYSTEMS, Aurora, Bene, Crate and Barrel, DM Modular, Kimball International, Krishna Office Furniture Systems, Quama, Martela, Herman Miller, Knoll, Haworth, USM Modular Furniture, Okamura, Kokuyo, Steelcase, Teknion, SUNON, Yash Modular Furniture, USM Modular Furniture, and Others.

Our market analysis also entails a section solely dedicated to such major players wherein our analysts provide insight into the financial statements of all the major players, along with product benchmarking and SWOT analysis. The competitive landscape section also includes key development strategies, market share, and market ranking analysis of the above-mentioned players globally.

Key Developments

• In March 2023, Aertsen Debuts New Manufacturing Facility for Modular Furniture. The modular manufacturing company of Aertsen was founded on similar principles. The standard of the items keeps declining as society gradually shifts to a profit-making mindset and neglects the requirements of the customers. The same is true for furniture; there aren’t a lot of companies remaining that prioritise serving the requirements of their clients.
•  In April 2023, the transformer sofa 2.0 is the latest amazing modular design from the popular furniture brand “Transformer Table.” Leaders in the modular furniture market, Transformer Table, have announced the release of their brand-new Transformers Couch collection, which will be available as of the fourth of April Anybody who has been following the emerging brand will not be surprised by this; just a year ago, Transformer Table was the talk of the world, from celebrities to influencers to countless families everywhere.

Ace Matrix Analysis

The Ace Matrix provided in the report would help to understand how the major key players involved in this industry are performing as we provide a ranking for these companies based on various factors such as service features & innovations, scalability, innovation of services, industry coverage, industry reach, and growth roadmap. Based on these factors, we rank the companies into four categories as Active, Cutting Edge, Emerging, and Innovators.

Market Attractiveness

The image of market attractiveness provided would further help to get information about the region that is majorly leading in the global Storage And Modular Furniture Market. We cover the major impacting factors that are responsible for driving the industry growth in the given region.

Porter’s Five Forces

The image provided would further help to get information about Porter’s five forces framework providing a blueprint for understanding the behavior of competitors and a player’s strategic positioning in the respective industry. Porter’s five forces model can be used to assess the competitive landscape in the global Storage And Modular Furniture Market, gauge the attractiveness of a certain sector, and assess investment possibilities.

Report Scope

Research Methodology of Market Research