Global Furniture Logistics Market Share Report 2024, Forecast To 2033
12 Nov, 2024
The furniture logistics market has experienced significant growth in recent years, with a projected increase from $102.25 billion in 2023 to $108.66 billion in 2024, at a compound annual growth rate (CAGR) of 6.3%. The growth is attributed to the rise in international trade, expansion of direct-to-consumer sales channels, growth of e-commerce, and increasing outsourcing of logistics functions. The furniture logistics market is expected to grow steadily, reaching $139.27 billion by 2028 with a CAGR of 6.4%. The growth is attributed to rising urbanization, higher consumer expectations for fast delivery, growing demand for last-mile delivery solutions, increased investment in warehouse infrastructure, and a focus on sustainability. Key trends include technological advancements, digital transformation, real-time tracking, green logistics, and data analytics integration.
Major Driver In The Furniture Logistics Market
The increasing demand for furniture is expected to propel the growth of the furniture logistics market going forward. Furniture encompasses movable objects that support various human activities, and the demand for furniture is rising due to growing home decoration and renovation trends globally. Furniture logistics services are essential for supporting growth and production in the furniture market by providing efficient transportation, storage, and supply chain management. A report from Hollywood Mirror revealed that the furniture manufacturing sector generated about $3.22 billion in 2020, with UK manufacturers selling 5.58 million wooden bedroom furnishings in 2021. Therefore, the increasing demand for furniture is driving the furniture logistics market's growth.
Request A Free Sample Of The Furniture Logistics Market ReportFurniture Logistics Market Competitive Landscape
Savino Del Bene S.p.A., DB Schenker, Kuehne + Nagel International AG, J.B. Hunt Transport Services Inc., Maersk Logistics and Services, Kerry Logistics Network Limited, XPO Logistics Inc., Röhlig Logistics GmbH & Co. KG, AIT Worldwide Logistics Inc., Noatum Logistics USA LLC, Logistics Plus Inc., Samskip Multimodal, Speed Commerce Inc., Ceva Logistics AG, ColliCare Logistics AS, LGT Logistics AB, DHL Supply Chain, CG Logistics Pvt. Ltd., Massood Logistics Inc., NTG Nordic Transport Group A/S, Ross Furniture Logistics
Key Furniture Logistics Market Trend
In the furniture logistics market, companies are forming strategic partnerships to enhance in-home delivery services. These partnerships combine resources to improve research and development, expand market reach, and accelerate growth. For example, in July 2022, Kirkland's Inc., a US-based retailer, partnered with Ryder System Inc., a logistics company, to launch a new in-home delivery service. This service offers last-mile delivery, light assembly, and packaging disposal for large furniture and home décor items, streamlining the delivery process and enhancing customer experience.
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Global Furniture Logistics Market Segmentation
The furniture logistics market covered in this report is segmented –
1) By Service Type: Transportation Services, Warehousing Services, Distribution Services, Assembly And Installation Services, Reverse Logistics Services
2) By Furniture Type: Residential Furniture, Commercial Furniture
3) By Transportation Mode: Road Transportation, Rail Transportation, Air Transportation, Sea Transportation
4) By Distribution Channel: Direct-To-Consumer (DTC), Retailers, E-Commerce Platforms, Wholesale Distributors, Other Distribution Channels
By Geography:The regions covered in the furniture logistics market report areAustralia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA, Canada, Italy, Spain.
Asia-Pacific was the largest region in the furniture logistics market in 2023. Europe is expected to be the fastest-growing region in the forecast period.
The Furniture Logistics Global Market Report 2024 furnishes information about the global furniture logistics market, encompassing details like market size, projections for growth, segmentation across various sectors and regions, and an overview of competitors, including their revenues, profiles, and market shares. Furthermore, the report pinpoints potential opportunities and strategic directions derived from market trends and the strategies adopted by key competitors. The report also offers an assessment of how the COVID-19 pandemic, the Russia-Ukraine conflict, and increasing inflation have affected both global and regional markets, furnishing valuable strategic insights for businesses.