Furniture - United Arab Emirates

  • United Arab Emirates
  • In 2024, the Furniture market in the United Arab Emirates (UAE) is projected to generate a revenue of €3.55bn.
  • This market is expected to experience an annual growth rate of 0.83% (CAGR 2024-2029).
  • The largest segment within this market is the Living Room Furniture segment, which is estimated to have a market volume of €0.94bn in 2024.
  • When compared globally, in the United States leads in revenue generation with €244bn in 2024.
  • In terms of per capita figures, the revenue generated per person in the UAE's Furniture market is approximately 0.00 in 2024.
  • The furniture market in the United Arab Emirates is experiencing a surge in demand for luxury and bespoke pieces.

Key regions: Worldwide, United States, China, India, Germany

 
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Analyst Opinion

The Furniture market in United Arab Emirates has been experiencing steady growth in recent years.

Customer preferences:
Customers in the United Arab Emirates have shown a growing interest in high-quality and stylish furniture. They prioritize functionality and durability, as well as aesthetics. There is a strong demand for modern and contemporary furniture designs, reflecting the country's cosmopolitan and affluent population. Additionally, customers in the UAE value personalized and customized furniture options to suit their individual tastes and preferences.

Trends in the market:
One of the key trends in the furniture market in the United Arab Emirates is the increasing popularity of online shopping. With the rise of e-commerce platforms, customers now have a wider range of options and can easily compare prices and designs. This trend has also led to the growth of online furniture retailers, offering convenience and competitive pricing. Another trend is the growing focus on sustainability and eco-friendly furniture options. Customers in the UAE are becoming more conscious of the environmental impact of their purchases and are seeking out furniture made from sustainable materials.

Local special circumstances:
The United Arab Emirates is known for its booming real estate market, with a significant number of residential and commercial projects underway. This has created a strong demand for furniture, as new properties require complete furnishing. The UAE also has a large expatriate population, many of whom prefer to rent furnished properties. This creates a steady demand for rental furniture, especially in cities like Dubai and Abu Dhabi.

Underlying macroeconomic factors:
The furniture market in the United Arab Emirates is influenced by several macroeconomic factors. The country's strong economic growth, driven by sectors such as tourism, real estate, and retail, has contributed to an increase in disposable income. This has resulted in higher consumer spending on furniture and home decor. Additionally, the government's initiatives to diversify the economy and promote the non-oil sectors have attracted foreign investment, leading to increased demand for furniture in commercial spaces. In conclusion, the furniture market in the United Arab Emirates is experiencing growth due to customer preferences for high-quality and stylish furniture, the increasing popularity of online shopping, and the demand created by the booming real estate market. The focus on sustainability and the country's strong economic growth are also driving factors. As the UAE continues to develop and attract international investment, the furniture market is expected to further expand in the coming years.

Methodology

Data coverage:

Data encompasses B2C enterprises. Figures are based on home furnishings and furniture found in every room of the home. This market is segmented by the room where the furniture is likely to be used and consists of the following: Living Room, Bedroom, Kitchen and Dining room, Bathroom, Outdoor, and Home Office. The Furniture market also includes Lamps and Lighting and Home Decor because the furnishings and accessories within these segments are not specific to any room.

Modeling approach / Market size:

Market sizes are determined by a top-down approach, based on a specific rationale for each market segment. As a basis for evaluating markets, we use national statistical offices, international institutions, in-house market research, and resources from the Statista platform. Next we use relevant key market indicators and data from country-specific associations such as consumer spending and GDP. This data helps us to estimate the market size for each country individually.

Forecasts:

In our forecasts, we apply diverse forecasting techniques. The selection of forecasting techniques is based on the behavior of the particular market. For example, exponential trend smoothing is well suited for forecasting the Furniture market with a projected steady growth. The main drivers are furniture and furnishings, carpets and other floor coverings, and consumer spending per capita.

Additional Notes:

The market is updated twice per year in case market dynamics change. The impact of the COVID-19 pandemic is considered at a country-specific level.

Vue d’ensemble

  • Revenue
  • Key Players
  • Sales Channels
  • Global Comparison
  • Analyst Opinion
  • Methodology
  • Key Market Indicators
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