Enjoy complimentary customisation on priority with our Enterprise License!
The Street Furniture Market size is forecast to increase by USD 1.18 billion, at a CAGR of 3.71% between 2023 and 2028. Market growth is propelled by several factors, notably the shift from wooden to composite wooden appliances, the rise in multifunctional outdoor furniture options, and increased investments in public parks and spaces. These dynamics drive accelerated growth, reshaping consumer preferences and urban landscapes. Adapting to these trends presents opportunities for businesses to capitalize on the evolving market demands and preferences. The report provides market size, historical data spanning from 2018-2022, and future projections, all presented in terms of value in USD billion for each of the mentioned segments.
For More Highlights About this Report, Download Free Sample in a Minute
The market caters to various sectors such as hotels, resorts, public gardens, and restaurants, driven by disposable income and tourism industry demands. It extends to the residential sector and commercial end-use segment, reflecting luxury, elegance, and versatility. With online distribution channels and retail industry integration, the market witnesses growth amidst urban homes and real estate developments. Climatic conditions dictate materials like wood, plastic, and metal, ensuring weather-resistant and durable products. Amidst the coronavirus pandemic, home renovation and innovative products find significance, influenced by lifestyle trends and the teachings of design schools. From mahogany to teakwood and stainless steel, street furniture caters to evolving consumer preferences. Our researchers analyzed the data with 2023 as the base year, along with the key drivers, trends, and challenges. A holistic analysis of drivers will help companies refine their marketing strategies to gain a competitive advantage.
The replacement of wooden furniture with composite wooden furniture is notably driving the market. The demand for composite wooden appliances has increased steadily due to its resemblance to wooden appliances and minimal maintenance needs. These appliances, made from recycled wood and plastic, are marketed as environmentally friendly by most vendors. Cap stock-coated versions offer enhanced resistance to environmental wear. They contribute to sustainable urban development by conserving natural wood resources and reducing environmental impact.
Further, durability and weather resistance translate to longer lifespans, reducing replacement frequency and maintenance costs for various sectors like municipalities and businesses. This sustainability aspect drives market growth, particularly in segments like hotels, restaurants, and residential projects, catering to elegance and versatility while aligning with environmental consciousness. Such factors ensure sustainable urban development amidst changing lifestyle trends and market demands.
Increasing demand for sustainable street furniture is an emerging trend in the market. The preference for eco-friendly appliances is rising to ensure environmental protection. In addition, there are various eco-friendly furnishing materials that are alternatives to forest wood, such as teak, rosewood, sal, and deodar. Furthermore, the increasing demand for environmentally friendly outdoor appliances is a trend in the global market.
Moreover, environmental concerns, the negative effects of deforestation, and the effects of toxic finishes on the air have prompted appliance manufacturers to adopt green solutions. In addition, companies are now offering a wide range of aesthetic products constructed using Moso bamboo, which is stronger and harder than most other types of wood, including oak. Furthermore, the use of natural materials for this product is increasing as natural materials have the ability to withstand harsh weather conditions and have enhanced aesthetic appeal. Hence, such factors are driving the market growth during the forecast period.
The long replacement cycle for street furniture is a major challenge hindering the market. Branded, long-lasting, superior-quality appliances, such as street appliances, do not require frequent replacements. In addition, superior quality appliance made of wood is characterized by a longer replacement cycle than appliances made of cheap materials such as plastic. Furthermore, the high initial cost and long replacement cycle of these products would hinder the growth of the market in focus.
Moreover, some of these products are high-priced and considered to be a one-time investment by many end-users. In addition, the companies in the market in focus are offering these products that are durable and of superior quality. Furthermore, the sales of the global market are cyclic. Therefore, the long replacement cycle for this product restricts frequent sales of these products, which can become a major challenge to the growth of the global market during the forecast period.
The market forecasting report includes the adoption lifecycle of the market, covering from the innovator’s stage to the laggard’s stage. It focuses on adoption rates in different regions based on penetration. Furthermore, the report also includes key purchase criteria and drivers of price sensitivity to help companies evaluate and develop their market growth analysis strategies.
Customer Landscape
Companies are implementing various strategies, such as strategic alliances, partnerships, mergers and acquisitions, geographical expansion, and product/service launches, to enhance their presence in the market.
Area Safe Products Pty Ltd.: The company offers street furniture such as Chaise longue ATLANTIQUE, Bench ATLANTIQUE, Picnic table ATLANTIQUE, Domino ATLANTIQUE, Backless bench ATLANTIQUE, 45L and 75L Litter bin TAMARIS, and more.
The market research and growth report also includes detailed analyses of the competitive landscape of the market and information about 20 market companies, including:
Qualitative and quantitative analysis of companies has been conducted to help clients understand the wider business environment as well as the strengths and weaknesses of key market players. Data is qualitatively analyzed to categorize companies as pure play, category-focused, industry-focused, and diversified; it is quantitatively analyzed to categorize companies as dominant, leading, strong, tentative, and weak.
The offline segment is estimated to witness significant growth during the forecast period. The offline segment comprises specialty stores, hypermarkets, supermarkets, department stores, and bedding stores that sell these accessories. In addition, the personnel of these shops tend to have a detailed knowledge of the products, which is required to be described during selling as it is necessary for buyers to have full information of the technicality, features, advantages, quality, and prices of the street furniture.
Get a glance at the market contribution of various segments Download the PDF Sample
The offline segment was the largest segment and was valued at USD 2.21 billion in 2018. Moreover, the offline distribution channel is the most preferred means for the distribution of luxury appliance items by vendors, manufacturers, and distributors operating in the global market, with the major factor being the tangible factor associated with the offline distribution of these accessories. In addition, offline stores enable consumers to touch and feel these fittings as a part of the buying process, thereby enabling consumers to physically experience the product before purchasing it. Moreover, this is not possible in the case of online distribution channels. Hence, such factors are fuelling the growth of this segment which in turn drives the market growth during the forecast period.
For more insights on the market share of various regions Download PDF Sample now!
APAC is estimated to contribute 41% to the growth of the global market during the forecast period. Technavio’s analysts have elaborately explained the regional trends and drivers that shape the market during the forecast period. Another region offering significant growth opportunities to companies is North America. The regional market dominated the global market, with a major demand arising from countries such as the US, Canada, and Mexico, which are expected to be major consumers. In addition, this is due to the expansion of the real estate sector and the urban population, which are the two most important variables driving the growth of the regional market.
In addition, rising consumer buying power and a surge in travel trends have expanded tourism in North America. Furthermore, these tendencies are most visible in seashore areas, hill stations, and other historic locations. In addition, such tendencies are leading to a growth in the number of hotels, resorts, public gardens, and open areas, thus driving up the demand for street appliances. Hence, such factors are driving the market growth in North America during the forecast period.
The market report forecasts market growth by revenue at global, regional & country levels and provides an analysis of the latest trends and growth opportunities from 2018 to 2028.
The Global Street Furniture Market encompasses a range of infrastructure elements that enhance public spaces, including benches, seats, lights, traffic signals, barriers, and bollards. Key components of this market are Barriers and Bollards, Street Lightings and Traffic Signals, and Benches and Seats. Other offerings include bicycle racks, garbage cans, Wi-Fi connectivity, solar-powered lighting, and IoT capabilities. Seats and lights are essential for creating inviting outdoor living spaces, while traffic management infrastructure like bollards, barriers, and traffic signals ensure safety and order. Manufacturers provide modular street furniture solutions with IoT capabilities, remote monitoring, and interactive digital kiosks to optimize urban street scenes. Materials used in production include aluminum and iron. Road accidents and production costs are significant factors influencing market trends. Aesthetic value, solar-powered benches, charging stations, and placemaking are emerging trends in the market.
Moreover, the street furniture market encompasses a diverse range of infrastructure elements that enhance and facilitate urban living. Key components include aluminum table and chairs with durable frames, bollards serving as traffic barriers, and garbage cans for waste management. System integrators play a crucial role in seamlessly combining these elements with traffic lights, signs, and bus stops. Street furniture manufacturers produce high-quality, functional designs for benches, phone boxes, post boxes, and memorials. Urban scenes are enriched with watering troughs for pets, fountains for aesthetic appeal, and tram and taxi stands for efficient transportation. These infrastructures contribute significantly to the overall functionality and aesthetic value of shopping centers, gardens, schools, and public spaces.
In the bustling heart of shopping centers and vibrant city streets, the importance of street furniture cannot be overstated. This essential infrastructure includes a variety of elements, such as garden benches, trash receptacles, public lavatories, tram stops, traffic signs, school crossing signs, and street lamps. Each piece serves a unique purpose in enhancing the urban experience. The production cost of these street furniture pieces varies, with aluminum being a popular choice due to its durability and low maintenance requirements. Aluminum benches, for instance, can withstand the test of time and weather conditions, making them a cost-effective solution for city planners. Moreover, traffic lights and waste receptacles are integral components of street furniture, ensuring the smooth flow of traffic and maintaining a clean and hygienic environment. Schools and gardens often feature unique designs for their benches and signage, adding character to these public spaces. In summary, the street furniture market caters to the diverse needs of urban populations, providing functional and aesthetically pleasing solutions for shopping centers, gardens, schools, and city streets. From traffic signs and tram stops to waste receptacles and benches, each piece plays a crucial role in creating a safe, comfortable, and visually appealing urban landscape.
|
Market Scope |
|
|
Report Coverage |
Details |
|
Page number |
160 |
|
Base year |
2023 |
|
Historic period |
2018-2022 |
|
Forecast period |
2024-2028 |
|
Growth momentum & CAGR |
Accelerate at a CAGR of 3.71% |
|
Market Growth 2024-2028 |
USD 1.18 billion |
|
Market structure |
Fragmented |
|
YoY growth 2023-2024(%) |
3.09 |
|
Regional analysis |
North America, APAC, Europe, South America, and Middle East and Africa |
|
Performing market contribution |
APAC at 41% |
|
Key countries |
US, China, Japan, Germany, and UK |
|
Competitive landscape |
Leading Companies, Market Positioning of Companies, Competitive Strategies, and Industry Risks |
|
Key companies profiled |
AREA, Area Safe Products Pty Ltd., Artform Urban Furniture, Benito Urban, Beruru Private Ltd., Broxap Ltd, Daktronics Inc., Edilportale.com SpA, ENVIRONMENTAL STREET FURNITURE LTD, EP Draffin Manufacturing Pty Ltd., Furnitubes International Ltd, Inter IKEA Holding BV, Macemain plus Amstad , Marshalls Mono Ltd., Newton Brown LLC, Ozone Overseas Pvt. Ltd, Saflow Product Pvt. Ltd., Street Furniture Australia Pty Ltd., STREETLIFE America LLC, and STREETPARK sro |
|
Market dynamics |
Parent market analysis, Market growth inducers and obstacles, Fast-growing and slow-growing segment analysis, COVID-19 impact and recovery analysis and future consumer dynamics, and market condition analysis for the forecast period. |
|
Customization purview |
If our report has not included the data that you are looking for, you can reach out to our analysts and get segments customized. |
We can help! Our analysts can customize this market research report to meet your requirements.
1 Executive Summary
2 Market Landscape
3 Market Sizing
4 Historic Market Size
5 Five Forces Analysis
6 Market Segmentation by Distribution Channel
7 Market Segmentation by Type
8 Customer Landscape
9 Geographic Landscape
10 Drivers, Challenges, and Trends
11 Vendor Landscape
12 Vendor Analysis
13 Appendix
Get the report (PDF) sent to your email within minutes.
Get lifetime access to our
Technavio Insights
Quick Report Overview:
Cookie Policy
The Site uses cookies to record users' preferences in relation to the functionality of accessibility. We, our Affiliates, and our Vendors may store and access cookies on a device, and process personal data including unique identifiers sent by a device, to personalise content, tailor, and report on advertising and to analyse our traffic. By clicking “I’m fine with this”, you are allowing the use of these cookies. Please refer to the help guide of your browser for further information on cookies, including how to disable them. Review our Privacy & Cookie Notice.
