Hotel Furniture Market Size, Share, Growth, And Industry Analysis, By Type (Table and Chairs, Hotel Beds, Hotel Case goods and Others), By Application (Business Hotel, Luxury Hotel, Boutique Hotel and Others), Regional Insights, and Forecast To 2031

Updated On: 08 April 2024

Hotel Furniture Market Report Overview

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The global hotel furniture market size was USD 4345.9 million in 2021 and market is projected to touch USD 6268.7 million by 2031, exhibiting a CAGR of 3.7% during the forecast period.

In a hotel, restaurant, or other commercial setting where customers frequently choose more opulent furniture, hospitality furniture, hotel furniture refers to fixtures utilised for commercial purposes. As they will be used frequently over an extended period by several users, they are made to be more durable and of commercial-grade quality to last for a longer period. The numerous hospitality furnishings include sofas in living rooms and hotel rooms, as well as dressers, tables, chairs, plush beds, shoe racks, and other pieces of furniture utilised in these settings. Hotel owners and other consumers of hospitality furniture have a strong demand for specialised and themed furniture that matches the interiors of the property.

There are now more prospects for new businesses to enter the industry thanks to the rising demand for themed and personalised Hotel furniture market. 

COVID-19 Impact: Pandemic Hamper the Demand of the Hotel Market

The drastic impact of the COVID-19 can be seen on the hotel furniture market growth and revenue. The lockdown and its restrictions negatively impacted the demand for the product, supply chain significantly. The current circumstance has forced the complete halt of the hotel furniture production process because the major industry depends on workers and there is a workforce shortage because of the epidemic .

Due to limits on international travel and the COVID-19 outbreak, there will be a significant decline in tourism, which will result in constant demand for hotel furnishings. However, industries have been working with a minimal workforce during the lockdown period. Consequently, the growth of the market is hindered by the coronavirus outbreaks globally. Nevertheless, it is projected that the market will recover gradually over the forecast period.

Latest Trends

"Rising Demand in innovative Industry Sector to Kick Market Growth"

The global hotel furniture market is expanding as a result of rising demand from hotels, restaurants, and resorts as well as increased usage of hotel furniture in lounges at airports, train stations, and other commercial facilities. In addition, the millennial generation is obsessed with travelling new places and exploring, which has raised demand for hotels and resorts and consequently increased demand for hotel furnishings. The competition from local businesses who offer the furniture at a lower price than the current market scenario, however, is one of the industry's biggest roadblocks. Customized and themed furniture for various hotel, airport, and resort themes is an industry innovation.

Hotel Furniture Market Segmentation

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• By Type Analysis

According to type, the market can be segmented into Table and Chairs, Hotel Beds, Hotel Case goods and Others.

• By Application Analysis

Based on application, the market can be divided into Business Hotel, Luxury Hotel, Boutique Hotel and Others.  

Driving Factors

"Highest Demand & Production in Developing Countries to Fuel Market Growth "

The major driving factors of the automotive electric power steering system include the increasing population and their rising demand for automobiles, the highest production rate, and the largest manufacturers mainly in developing nations expanding the power steering market. Additionally, China is the largest populated as well as the largest manufacturing & raw material supplier country. On the other hand, India being the second-largest populated country enhance the demand for automobile industries and their developing economy is expected to drive the growth of the automotive steering system market.

"Rising Demand of Quality Wood to Increase Market Growth"

The demand for fine quality wood in hotel furniture has been shifting to other materials including metals, fabrics, and other eye-catching materials. As a result of client desire for more aesthetically pleasing and photogenic furnishings, hotel and resort owners are altering their preferences. Because of this, furniture makers now mix wood, textured fabrics, and vibrant metals in their designs. Additionally, geometrical pattern backgrounds and furniture that matches the same décor are very popular.  

Restraining Factors

"High Price of Wood to Restrict Market Development"

However, it is projected that the skin irritation caused by dimethyl fumarate-based tables may restrain market expansion. Furthermore, it is anticipated that fierce competition from regional industry players will restrain the business expansion of well-known organizations, which will impede market expansion.

Hotel Furniture Market Regional Insights

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"Growing Development in North America Anticipated to Boost Market Expansion "

During the projected period, North America is anticipated to account for the largest hotel furniture market share. With the help of implementing technical developments in the product portfolio, the presence of major players like Microsoft and Google will accelerate market growth. The market expansion across the region would be expanded by increased expenditures.

Whereas Europe is estimated to be the second-largest market for the hotel furniture market. The adoption of eco-friendly furniture from business and hospitality operators, who want products created from low-toxic, environmentally friendly materials and sustainable forest woods.

Key Industry Players

"Adoption of Latest Green Furniture’s by Key Players Influencing Market Development"

The top key players in the market such as Kimball Hospitality, Bryan Ashley, Suyen Furniture Group, Taiyi Hotel Furniture, Gotop Furniture Group, Foliot. Most of the top players hold the hotel furniture market shares. In addition, the strategies to develop new technologies, capital investment in R&D, improve product quality, acquisitions, mergers, and compete for the market competition help them to perpetuate their position and value in the market. Besides, collaboration with other companies & extensive possession over market shares by the key players stimulates the hotel furniture market.

List of Market Players Profiled

• Kimball Hospitality (India)
• Bryan Ashley (U.S.)
• Suyen Furniture Group (India)
• Taiyi Hotel Furniture (China)
• Gotop Furniture Group (China)
• Foliot (U.S.)
• Solid Comfort (U.S.)
• Distinction Group (UK.)
• New Qumun Group (England)
• Klem (Jasper Group)
• CF Kent (U.S.)
• Bernhardt Furniture (U.S.)
• American Atelier (U.S.)
• JTB Furniture (U.S.)
• Dubois Wood Products (U.S.)
• Flexsteel Industries (U.S.)
• Gilcrest (UK.)
• Dickson Furniture (U.S.)
• Blue Leaf (India)
• Hospitality Designs (U.S.)

Report Coverage

This report examines an understanding of the hotel furniture market’s size, share, growth rate, segmentation by type, application, key players, and previous and current market scenarios. The report also collects the market’s precise data and forecasts by market experts. Also, it describes the study of this industry’s financial performance, investments, growth, innovation marks, and new product launches by the top companies and offers deep insights into the current market structure, competitive analysis based on key players, key driving forces, and restraints that affect the demand for growth, opportunities, and risks.

Furthermore, the post-COVID-19 pandemic’s effects on international market restrictions and a deep understanding of how the industry will recover, and strategies are also stated in the report. The competitive landscape has also been examined in detail to provide clarification of the competitive landscape.

This report also discloses the research based on methodologies that define price trend analysis of target companies, collection of data, statistics, target competitors, import-export, information, and previous years’ records based on market sales. Moreover, all the significant factors which influence the market such as small or medium business industry, macro-economic indicators, value chain analysis, and demand-side dynamics, with all the major business players have been explained in detail. This analysis is subject to modification if the key players and feasible analysis of market dynamics change.