GCC Multifunctional Furniture Market Trends

Statistics for the 2023 & 2024 GCC Multifunctional Furniture market trends, created by Mordor Intelligence™ Industry Reports. GCC Multifunctional Furniture trend report includes a market forecast to 2029 and historical overview. Get a sample of this industry trends analysis as a free report PDF download.

Market Trends of GCC Multifunctional Furniture Industry

This section covers the major market trends shaping the GCC Multifunctional Furniture Market according to our research experts:

Increased momentum in development of smaller apartments

The rise in population and urbanization globally has fueled the demand for accommodation, boosted the real estate market, and reduced the size of apartments. The development of urban housing has forced habitants to prefer smaller spaces, which in turn has increased the demand for furniture that can fit in small spaces and carry out multiple functions

2018-2027

Saudi Arabia is One of the Fastest-growing Furniture Markets in the GCC Region

Saudi Arabia has the largest construction market in the GCC region, accounting for nearly 33% of the total market share in the area. Due to the rising population and urbanization, the country's construction sector is expanding. Increasing real estate development and the rising demand for residential properties in the region, along with the governmental initiatives to develop socio-economic infrastructure, are fuelling the growth of the furniture industry in Saudi Arabia.

The continuous development of new housing units, coupled with a rise in the young and growing population of the country, is increasing the demand for furniture products. Additionally, urbanization and the development of the KSA's economy have generated a significant demand for furniture in the residential areas, hotels, offices, and industrial sectors. This is expected to grow further in the coming years.

2018-2023-2027

GCC Multifunctional Furniture Market Size & Share Analysis - Growth Trends & Forecasts (2024 - 2029)