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| A07034 | Pages: NA | Aug 2021 | 1325 Views | | |
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Pandemic disrupted the entire world and affected many industries.
Get detailed COVID-19 impact analysis on the Modular Tv Stands Market
Request Now !Modular TV stands facilitate add on shelves to the TV stand in which various stuffs and decorative items could be accommodated. These come in different sizes and shapes along with variety of patterns and design. One of the popular designs of modular TV stands is the open shelving design for the users who look for a less obtrusive setup which give open visual element and do not take much space. Commonly this type of modular TV stand facilitates mounting bracket for the television and have central frame, which holds several shelves.
Market scope and structure analysis:
Report Metric | Details |
Market size available for years | 2020–2027 |
Base year considered | 2019 |
Forecast period | 2021–2027 |
Forecast units | Value ($US) |
Segments covered | Type, Application, Distribution Channel, and Region |
Regions covered | North America (U.S., Canada and Mexico), Europe (Germany, UK, France, Italy, Spain, and Rest of Europe), Asia-Pacific (China, Japan, India, Australia, Malaysia, Thailand, Indonesia, and Rest of Asia-Pacific), LAMEA (Middle East, Brazil, and Rest of LAMEA) |
Companies covered | QuanU Furniture Group, Twin-Star International, Redapple, Abbyson Living, Sonorous, Guangming, Furniture of America, Ashley Furniture, Shuangye, Walker Edison Furniture Company, Z-line Designs, HUARI, Dimplex North America Limited, AVF, Dorel Industries, QM, |
The demand for modular TV stand depends upon the demand for TV. The world wide pandemic occurrence has significantly reduced the frequency of purchase of electrical and electronic products and increased the lead time delivery of goods due to which TV sets are experiencing decline in its demand which in turn decreases the demand for modular TV stand. Moreover, in COVID-19 people are focusing more on purchasing staple food and hygiene products resulting in decline in the demand for lifestyle products. COVID-19 outbreak has created scarcity of labor supply, raw materials, and availability of other components due to which production of modular TV stands has been hampered. The impaired supply chain and distribution network are some of the challenges that the industries are focusing on. The end of the lockdown in the countries are anticipated to boost the growth of TV and modular TV stands market. In post COVID-19 scenarios the sale of modular TV stand may be increased from e-commerce platform. The companies need to develop such strategies to change the design of their supply chain and production policies or plans in tandem with the changing business environment.
Rise in disposable income enhances the purchasing power of the people living in Asia-Pacific countries. People are spending more than before on luxury, comfort, and lifestyle products. Changes in lifestyle and increase in modern home renovation also supports the growth of the modular TV stand market. The changes in lifestyle and availability of modern home renovation influence people to have a luxurious looking modular TV stand for enhancing the aesthetic appeal of the home. The usage of smart TV in hospitality industry, offices, and in such other industry increases the demand for the modular TV stand product.
The global Modular TV stands market trends are as follows:
Leading market players are extending their distribution network toward e-commerce platform. Selling through e-commerce platform enables them to serve to large number of customers. The wide range of different brands of modular TV stands on e-commerce platform is propelling the growth of the market. In addition many e-commerce platforms are providing discounts on the branded modular TV stand. For instance, pepperfry, an online furniture and home décor selling retailer is offering discounts from 10 to 50% on Indian brands of modular TV stand such as spacewood, Akshay furniture, and Crystal furnitech. It is also providing discounts on some other international brands of modular TV stand of up to 68% such as Eros, Evok and Royaloak among others. Companies are also trying to develop new innovative modular TV stand to the increasing demand for the product.
Key Segments Covered:
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