The latest report by IMARC Group, titled “Office Furniture Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2022-2027,” offers a comprehensive analysis of the industry, which comprises insights on the global office furniture market. The report also includes competitor and regional analysis, and contemporary advancements in the global market.
The global office furniture market reached a value of US$ 58.4 Billion in 2021. Looking forward, IMARC Group expects the market to reach US$ 74.7 Billion by 2027, exhibiting at a CAGR of 4.1% during 2022-2027. Office furniture refers to a class of luxurious and ergonomic furniture that is designed to provide convenience and comfort to employees and staff. Using these fixtures, employees and staff can experience a less stressful and enhanced working environment while meeting the functional requirements of their workplace. Primarily consisting of office tables, chairs, shelves, and desks, they help boost worker productivity while sitting for long hours. Some of the major advantages of advanced office furniture include the ability to set up optimal temperatures, customize flexibility adjustments, and change posture as needed. As a result, these pieces of furniture are extensively adopted across the corporate sector and home-office setups.
The COVID-19 pandemic has had an adverse effect on the market initially. The global shutdown of major offices and major manufacturing hubs resulted in extended production halts, that caused a steady decline in the product demand. Furthermore, logistics and supply chain complexity, fluctuating raw material costs, and long replacement cycles hindered the market’s growth. However, as the number of COVID-19 cases are gradually declining and offices are open, the market is expected to recover and face experience new growth opportunities.
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Global Office Furniture Market Trends:
The market is primarily driven by the increasing construction, renovation, and modification activities in the commercial real estate industry. This can be attributed to the rising demand for office spaces across numerous sectors, such as IT and ITeS, retail, consulting, and e-commerce. In addition to this, the implementation of favourable government initiatives supporting the launch and growth of small and emerging businesses are providing an impetus to the market. Moreover, an enhanced focus on sustainable development is resulting in the increased adoption of green, sustainable, and eco-friendly furniture products, which, in turn, is fuelling the market. Some of the other factors that are creating a positive outlook for the market include considerable growth in the number of start-up’s, rapid urbanization, extensive research and development (R&D) activities and the expanding chains of multi-national companies in geographically extended regions.
The competitive landscape of the market has also been analyzed with some of the top office furniture companies being
Some of these key players include:
- Steelcase Inc.
- Okamura Corporation
- HNI Corporation
- Herman Miller Inc.
- Haworth, Inc.
- Knoll, Inc.
- KOKUYO Co., Ltd.
- Meridian Office Furniture Limited
- Kimball International, Inc.
- D3, Inc.
- BERCO DESIGNS
- Hooker Furniture Corporation
Key Market Segmentation:
Breakup by Product Type:
- Storage Units and File Cabinets
- Overhead Bins
Breakup by Material Type:
- Plastic and Fiber
Breakup by Distribution Channel:
- Direct Sales
- Specialist Store
- Non-Specialist Stores
Breakup by Price Range:
Breakup by Region:
- North America (United States, Canada)
- Asia Pacific (China, Japan, India, Australia, Indonesia, Korea, Others)
- Europe (Germany, France, United Kingdom, Italy, Spain, Others)
- Latin America (Brazil, Mexico, Others)
- Middle East and Africa (United Arab Emirates, Saudi Arabia, Qatar, Iraq, Other)
Explore the Full Report with TOC & List of Figures: https://www.imarcgroup.com/office-furniture-market
Key highlights of the Report:
- Market Performance (2016-2021)
- Market Outlook (2022-2027)
- COVID-19 Impacton the Market
- Porter’s Five Forces Analysis
- Historical, Current and Future Market Trends
- Market Drivers and Success Factors
- SWOT Analysis
- Structure of the Market
- Value Chain Analysis
- Comprehensive Mapping of the Competitive Landscape
TOC for the Report:
- Scope and Methodology
- Executive Summary
- Global Market
- SWOT Analysis
- Value Chain Analysis
- Price Analysis
- Competitive Landscape
Note: If you need specific information that is not currently within the scope of the report, we can provide it to you as a part of the customization.
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IMARC Group is a leading market research company that offers management strategy and market research worldwide. We partner with clients in all sectors and regions to identify their highest-value opportunities, address their most critical challenges, and transform their businesses.
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