Street furniture is a collective word used for items and pieces of equipment which are installed along side of streets and roads for several purposes. Items such as benches, traffic barriers, bollards, post boxes, phone boxes, streetlamps, traffic lights, traffic signs, bus stops, tram stops, taxi stands, public lavatories, fountains, watering troughs, memorials, public sculptures, and waste receptacles are termed as street furniture.
Market Scope and Structure Analysis
Increase in real estate industry and rise in urban population are the key factors that affect the market growth. Moreover, increase in per capita and disposable income together play an important in boosting the growth of the industry. In addition, improved consumer spending power and rise in trend of travel have increased tourism across the world. These trends can be witnessed mainly in seaside areas, hill stations, and other monumental places. This, in turn, leads to an increase in number of hotels, resorts, public gardens, and open spaces, thereby propelling the demand for street furniture. There is an increase in the usage of street furniture in the commercial sector as well. However, apart from comfort, the purpose of these furnishings is to offer a place with character and uniqueness, and to boost the interest of people to enjoy outdoor spaces. Street furniture also states definite needs, such as seating and shelter places when one is waiting for transportation.
COVID-19 Impact analysis
- COVID-19 pandemic has shut down the production of various products in the street furniture industry attributed to the lockdown in countries worldwide. This has hampered the growth of the street furniture market from the last few months and is anticipated to remain the same during 2021.
- COVID-19 has already affected the sales of street furniture in the first quarter of 2021 and is anticipated to cause a negative impact on the market growth throughout the year.
- The major demand for street furniture was previously noticed from giant manufacturing countries including the U.S., Germany, Italy, UK, and China, which are negatively affected by the spread of the coronavirus, thereby declining the demand for street furniture.
- Further, potential impact of the lockdown is currently vague and financial recovery of companies is totally based on its cash reserves. Street furniture manufacturers can afford a full lockdown only for a few months, after which the players have to modify their investment plans.
- Street furniture manufacturers are expected to focus on protecting their workforce, operations, and supply chains to respond toward immediate crises and find new ways of working after COVID-19.
Top Impacting Factors
Street furniture products are designed to provide both aesthetic and functional benefits in commercial as well as residential set ups. Wood is among the most commonly used material in outdoor chairs and tables, while the requirement for rust proof and weather-resistant items drive the demand for metal furniture on a global picture. This trend has generated lucrative opportunity for the key market players. Rise in street furniture demand has compulsorily made manufacturers to expand and enlarge their product contributions in the outdoor segment. Manufacturers are concentrating on increasing their market share by extending their portfolio. Urbanization is one of the key drivers that increases the demand for street seating arrangements and other furniture equipment.
Key Benefits of the Report
- This study presents the analytical depiction of the street furniture market along with the current trends and future estimations to determine the imminent investment pockets.
- The report presents information related to key drivers, restraints, and opportunities along with detailed analysis of the street furniture market share.
- The current market is quantitatively analysed to highlight the street furniture market growth scenario.
- Porter’s five forces analysis illustrates the potency of buyers & suppliers in the market.
- The report provides a detailed street furniture market analysis based on competitive intensity and how the competition will take shape in coming years.
Street Furniture Market Report Highlights
| Aspects | Details |
 By Outlook type |
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 By Distribution Channel |
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 By End-user industry |
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 By Region |
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 Key Market Players | Brown Jordan, Inter Ikea Group, Lloyd Flanders, Keter Group, Agio International Company Limited, Ashely Industries |
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