1 Global Urban Furniture Market Size Analysis by Region: 2019 VS 2023 VS 2031
The comparative analysis of the Global Urban Furniture market across various regions for the years 2019, 2023, and 2031 reveals growth trends. The North American market experienced a Compound Annual Growth Rate (CAGR) of 3.27% from 2019 to 2023, with a projected CAGR of 5.38% from 2023 to 2031. The market size reached $2.207 billion in 2019, $2.511 billion in 2023, and is expected to reach $3.817 billion by 2031. The European market size was $1.841 billion in 2019, $2.050 billion in 2023, and is forecasted to be $2.922 billion in 2031, with CAGRs of 2.73% and 4.53% respectively.
The Asia Pacific region is another significant market, starting at $2.087 billion in 2019, growing to $2.381 billion in 2023, and projected to reach $3.798 billion in 2031, with CAGRs of 3.35% and 6.01% for the two periods. South America and the Middle East & Africa also show growth, with CAGRs of 2.30% and 5.37%, and 2.94% and 5.47% respectively. The total global market size was $7.313 billion in 2019, $8.248 billion in 2023, and is expected to increase to $12.529 billion by 2031, reflecting a robust overall growth in the urban furniture market, with CAGRs of 3.05% from 2019 to 2023 and 5.36% from 2023 to 2031. This data indicates a strong expansion in the urban furniture industry across all regions, with the Asia Pacific region showing the highest growth rate in the latter half of the projection period.
Table Global Urban Furniture Market Size (M USD) by Region: 2019 VS 2023 VS 2031
| 2019 | 2023 | 2031 | CAGR (2019-2023) | CAGR (2023-2031) |
North America | 2207.17 | 2510.76 | 3817.12 | 3.27% | 5.38% |
Europe | 1840.77 | 2049.94 | 2921.61 | 2.73% | 4.53% |
Asia Pacific | 2087.23 | 2381.24 | 3797.92 | 3.35% | 6.01% |
South America | 605.54 | 663.15 | 1008.04 | 2.30% | 5.37% |
Middle East & Africa | 572.63 | 642.98 | 984.39 | 2.94% | 5.47% |
Total | 7313.34 | 8248.07 | 12529.07 | 3.05% | 5.36% |
2 North America Urban Furniture Market Status and Prospect
From 2019 to 2031, the North American urban furniture revenue has shown an overall upward trend, with a recovery and continued growth following a dip in 2020. Revenue reached approximately $2,510.76 million in 2023 and is expected to reach around $2,619.87 million in 2024, with a projected increase to $3,817.12 million by 2031.
The growth rate has fluctuated significantly. It peaked at 8.08% in 2021, corresponding with the surge in revenue. There have been periods of decline, such as the -3.69% in 2019, but the overall trend has been positive. The projected growth rates continue to show variability, with a substantial increase to 7.74% by 2028, and a slight decrease to 4.20% by 2031. This indicates that, despite being dynamic and prone to periodic slowdowns, the market has the potential for sustained growth in the long term.
Figure North America Urban Furniture Revenue (M USD) and Growth Rate (2019-2031)
In the North American urban furniture market segmented by country from 2019 to 2031, the United States is the largest contributor, with revenue increasing from $1.9137 billion in 2019 to an estimated $3.2925 billion by 2031. Canada also shows a steady increase, with revenue growing from $196.52 million in 2019 to an estimated $355.85 million by 2031. Mexico, although the smallest contributor, still experiences growth, from $96.91 million in 2019 to $168.68 million in 2031.
The total revenue for North America is expected to rise significantly, starting at $2.207 billion in 2019 and projected to reach $3.817 billion by 2031. This indicates a robust growth in the North American urban furniture market, with all three countries contributing to the overall expansion. The United States, in particular, is the driving force behind the region’s market growth, reflecting its larger economic scale and potentially greater demand for urban furniture.
Table North America Urban Furniture Revenue (M USD) by Countries (2019-2031)
| 2019 | 2020 | 2021 | 2022 | 2023 | 2024 |
United States | 1913.73 | 1841.01 | 1994.44 | 2087.84 | 2185.50 | 2283.22 |
Canada | 196.52 | 190.68 | 203.09 | 210.51 | 218.20 | 225.83 |
Mexico | 96.91 | 94.02 | 99.96 | 103.39 | 107.06 | 110.82 |
Total | 2207.17 | 2125.71 | 2297.49 | 2401.74 | 2510.76 | 2619.87 |
| 2024 | 2025 | 2026 | 2027 | 2028 | 2029 | 2030 | 2031 |
United States | 2283.22 | 2398.82 | 2556.09 | 2676.12 | 2877.42 | 3037.06 | 3163.60 | 3292.59 |
Canada | 225.83 | 240.12 | 259.81 | 275.04 | 300.94 | 321.81 | 338.57 | 355.85 |
Mexico | 110.82 | 117.28 | 126.14 | 132.96 | 144.49 | 153.73 | 161.11 | 168.68 |
Total | 2619.87 | 2756.22 | 2942.04 | 3084.11 | 3322.85 | 3512.60 | 3663.28 | 3817.12 |
3 Asia-Pacific Urban Furniture Market Status and Prospect
The analysis of the Asia-Pacific Urban Furniture revenue and its growth rate from 2019 to 2031 indicates an overall upward trend in market revenue. After a dip in 2020, the market recovered and continued to grow, reaching approximately $211.911 million in 2021, $224.159 million in 2022, and $238.124 million in 2023, with an estimated revenue of $379.792 million by 2031.
However, the growth rate has fluctuated significantly. It peaked at 7.16% in 2021, corresponding with the surge in revenue. There were periods of decline, such as the -5.26% in 2020, but the overall trend has been positive. The projected growth rates continue to show variability, with a substantial increase to 8.01% by 2028, and a slight decrease to 4.54% by 2031.
Figure Asia-Pacific Urban Furniture Revenue (M USD) and Growth Rate (2019-2031)
The comparative analysis of the urban furniture market across various regions in the Asia-Pacific from 2019 to 2031 reveals China as the largest market, with a fluctuating revenue pattern, starting at $1.187 billion in 2019, dropping to $1.116 billion in 2020, and then gradually increasing, with earnings projected to rise from $1.436 billion in 2024 to $2.233 billion by 2031. Japan, India, South Korea, and Australia also show steady annual growth, with Japan’s revenue estimated to reach $439.34 million, India’s $329.18 million, South Korea’s $222.11 million, and Australia’s $205.88 million by 2031.
Southeast Asia, as a collective, is expected to see its revenue grow from $188.29 million in 2024 to $297.56 million by 2031. The ‘Others’ category, which includes smaller markets in the region, also contributes to the overall growth. The total revenue for the Asia-Pacific region is anticipated to rise substantially from $2.497 billion in 2024 to $3.798 billion by 2031. This growth reflects the increasing demand for urban furniture in the region, driven by factors such as rapid urbanization, economic growth, and a rising middle class seeking improved living conditions. The projected revenue indicates a strong and expanding market for urban furniture in the Asia-Pacific, with all countries contributing to this upward trend.
Table Asia-Pacific Urban Furniture Revenue (M USD) by Countries (2019-2031)
| 2019 | 2020 | 2021 | 2022 | 2023 | 2024 |
China | 1187.17 | 1116.01 | 1202.72 | 1278.85 | 1364.88 | 1436.14 |
Japan | 271.91 | 256.54 | 270.60 | 281.99 | 297.14 | 308.90 |
India | 166.72 | 159.60 | 172.13 | 182.82 | 195.71 | 206.77 |
South Korea | 139.78 | 134.72 | 141.97 | 147.96 | 155.33 | 160.32 |
Australia | 121.18 | 117.73 | 125.08 | 131.53 | 139.49 | 145.59 |
Southeast Asia | 156.11 | 149.66 | 161.11 | 171.18 | 179.28 | 188.29 |
Others | 44.36 | 43.18 | 45.50 | 47.25 | 49.41 | 51.19 |
Total | 2087.23 | 1977.44 | 2119.11 | 2241.59 | 2381.24 | 2497.21 |
| 2024 | 2025 | 2026 | 2027 | 2028 | 2029 | 2030 | 2031 |
China | 1436.14 | 1523.25 | 1638.52 | 1738.47 | 1890.46 | 2029.90 | 2132.47 | 2232.97 |
Japan | 308.90 | 326.33 | 346.30 | 363.47 | 386.19 | 405.93 | 423.06 | 439.34 |
India | 206.77 | 220.35 | 238.00 | 253.97 | 275.66 | 295.54 | 313.89 | 329.18 |
South Korea | 160.32 | 167.73 | 176.84 | 183.84 | 194.79 | 203.27 | 214.29 | 222.11 |
Australia | 145.59 | 154.10 | 163.67 | 170.68 | 181.28 | 188.46 | 197.56 | 205.88 |
Southeast Asia | 188.29 | 201.87 | 217.93 | 232.06 | 251.13 | 268.33 | 283.25 | 297.56 |
Others | 51.19 | 53.67 | 56.89 | 59.71 | 63.16 | 65.92 | 68.46 | 70.89 |
Total | 2497.21 | 2647.29 | 2838.16 | 3002.20 | 3242.68 | 3457.35 | 3632.98 | 3797.92 |
4 Europe Urban Furniture Market Status and Prospect
From 2019 to 2031, the European urban furniture market revenue has shown an overall upward trend, though with some fluctuations. After a dip in 2020, the market recovered and continued to grow, reaching approximately $1,888.81 million in 2021, $1,955.67 million in 2022, and $2,049.94 million in 2023. The revenue is projected to reach $2,921.61 million by 2031.
However, the annual growth rate has experienced significant volatility. It peaked at 5.28% in 2021, corresponding with the surge in revenue. There were periods of decline, such as the -2.54% in 2020, but the overall trend has been positive. The projected growth rates continue to exhibit variability, with a substantial increase to 5.96% by 2028, and a slight decrease to 3.54% by 2031.
Figure Europe Urban Furniture Revenue (M USD) and Growth Rate (2019-2031)
5 South America Urban Furniture Market Status and Prospect
From 2019 to 2031, the South American urban furniture market revenue has shown an overall upward trend with some fluctuations. After a dip in 2020, the market recovered and continued to grow, reaching approximately $614.06 million in 2021, $634.23 million in 2022, and $663.15 million in 2023. The revenue is projected to reach $1,008.04 million by 2031.
However, the growth rate has experienced significant volatility. It peaked at 8.85% in 2028, corresponding with the surge in revenue. There were periods of decline, such as the -2.85% in 2020, but the overall trend has been positive. The projected growth rates continue to show variability, with a slight decrease in 2022, followed by an increase to 6.25% in 2026, and a slight decrease to 4.21% by 2031.
Figure South America Urban Furniture Revenue (M USD) and Growth Rate (2019-2031)
