The console table market is benefiting from rising demand for eco-friendly furniture. Console tables allow homeowners to creatively add additional surface area and storage space while also providing an attractive display option. They come in various styles from modern to traditional to complement different interior aesthetics. The increasing preference for sustainable materials like engineered wood and recycled plastic in furniture manufacturing has boosted the popularity of console tables.

The console table market size is expected to grow from US$ 4.64 Bn in 2023 to US$ 6.70 Bn by 2030, exhibiting a compound annual growth rate (CAGR) of 5.4% during the forecast period.

Key Takeaways

Key players operating in the console table market are Heraeus Holding, PPG Industries, Inc., Akzo Nobel N.V., The Sherwin-Williams Company and AnCatt Inc.

Rising environmental concerns and growth in residential real estate have fueled demand for console tables globally. Their versatility for use as a functional storage space or decorative centerpiece adds to the product’s appeal.

Manufacturers focusing on expanding into emerging markets like Asia Pacific and Latin America through strategic partnerships will harness new revenue opportunities as demand for affordable, eco-friendly furniture increases.

Market Key Trends

Console Table Market share is being influenced by the major trend of sustainable design and manufacturing, with a focus on using recycled, bio-based, and durable materials to help companies stay ahead of regulations while meeting consumer preferences for eco-friendly options.. For example, Anthropic’s line of tables made from rapidly renewable bamboo and FSC-certified wood has been gaining traction.

Porter’s Analysis

Threat of new entrants: Low setup costs in manufacturing console tables allow new companies to enter the market easily but established brands have stronghold.

Bargaining power of buyers: Buyers have high bargaining power as they can choose from various wooden, glass and metal based console table options from multiple brands. Bargaining power of suppliers: Few raw materials suppliers for wood, glass and metals exist giving them moderate bargaining power over console table manufacturers.

Threat of new substitutes:

Console Table Market Challenges and Opportunities include a medium threat of substitution, as coffee tables and side tables can also be used as substitutes based on interior design and space availability in homes.Competitive rivalry: Market share is distributed among top console table brands with regional focus for sale creating a moderate to high competition.

As per 2024 estimates, North America accounted for over 30% of global console table market value owing to widespread furniture retail, strong cultural preference for wooden furniture and housing market growth. The Asia Pacific region excluding Japan is expected to be the fastest growing regional market till 2031 supported by rising household income, western influence on interior design and expansion of organized retail.

Geographical Regions

North America holds the largest share of console table market in terms of value owing to wide availability of wooden and alloy based console tables across furniture stores and online retail platforms. United States account for the majority of demand.

The Asia Pacific region except Japan is projected to witness highest growth in console table market till 2031 majorly driven by increasing sales from China, India and other Southeast Asian countries. Rapid urbanisation, exposure to global design trends and growing focus on home décor/furnishings will support ongoing shift towards premium furniture adoption.

Get More Insights On  Console Table Market
https://www.zupyak.com/p/4358167/t/console-table-market-is-estimated-to-witness-high-growth-owing-to-rising-urbanization
https://www.timessquarereporter.com/news/console-table-market-is-transforming-the-home-decor-sector-through-sustainable-design
https://fortunetelleroracle.com/news/console-table-market-is-transforming-the-home-decor-sector-through-sustainable-design-950944
https://patilojaswani.livepositively.com/console-table-market-is-estimated-to-witness-high-growth-owing-to-advancements-in-3d-printing-technology/new=1

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