A console table is a type of furniture used to place objects on or provide surface area and storage in an entryway, living room, or dining room. They are often placed beneath wall mirrors or artworks and provide a convenient spot to display treasured items or stash keys, mail, and other necessities. The rising urbanization has boosted the sales of residential properties which is increasing the demand for furniture including console tables. The global console table market is driven by factors such as growing construction of residential buildings and rise in disposable incomes of people.

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.

Console Table Market share is benefiting from the growing construction of residential buildings, especially in developing regions of Asia Pacific and Latin America, providing huge growth opportunities for players in the market. Increasing disposable incomes have pushed the demand for premium and customized furniture.

Major players are expanding their global footprint by focusing on emerging economies to tap the rise in construction spending and growing middle class population demanding home decor products.

Market Drivers

The rising urbanization has boosted the sales of residential properties which is increasing the demand for furniture including console tables. Increased construction of residential buildings especially in developing countries is driving the need for home décor and furnishing products. Growing disposable incomes has increased consumer spending on premium and customized furniture for their homes.

PEST Analysis

Political: The government policies relating to furniture industry will impact the console table market. Changes in import duties, raw material availability and environmental regulations can influence operations.

Economic: Economic growth and rise in disposable income will drive demand for decorative and premium furniture including console tables. Changes in GDP, inflation and unemployment levels affect consumer spending.

Social: Console Table Market Challenges and Opportunities are shaped by evolving trends like minimalistic interiors, indoor-outdoor living, and multi-functional spaces, which influence furniture purchases. The younger population prefers modern styles and portable pieces.

Technological: Use of engineered woods, lightweight materials and automated manufacturing help lower production costs. Online shopping and virtual/AR try-ons see increased adoption. 3D printing enables custom designs.

Geographical Concentration

North America accounts for the largest share of the global console table market in terms of value. The United States, being one of the most lucrative markets, drives high demand for wooden, metallic and contemporary console tables from top brands. Renovation activities and large housing stock support continued sales in this region.

Fastest Growing Region

The Asia Pacific region is poised to witness the fastest growth in the console table market during the forecast period. Rising disposable incomes, rapid urbanization, western influence on interior decor and growing middle class population translate to increased spending on home furnishing. The popularity of hybrid and multifunctional furniture further stimulates regional market growth.