Global Office Furniture Market Analysis, Drivers, Restraints, Opportunities, Threats, Trends, Applications, and Growth Forecast to 2027
The Office Furniture Market Report has been segmented on the basis of type, material, sales channel, and region. Office Furniture Market, the availability of office furniture in various durable materials such as wood, plastic, metal, etc., and various varieties such as chairs, storage units, etc., which in turn is estimated to fuel the growth of the target market over the forecast period.
Global Office Furniture Market Overview:
The Office Furniture Market was valued at $50.1 billion in 2021 & is projected to reach $76.4 billion by 2027. It is expected to grow at a 5.8% CAGR between 2021 and 2027.
Office furniture includes various furnishings such as office chairs, tables, shelves, etc. This type of furniture is designed according to the requirement of the organization.
Global Office Furniture Market Dynamics:
The global market is expected to witness substantial growth, owing to the increasing demand for modular furniture from the corporate sector.
In addition, the rapid growth of the various corporates has led to an increase in demand for office furniture, which in turn is expected to support the target market growth. The increasing popularity of smart furniture is another factor expected to propel the growth of the target market.
Moreover, it aids end-users to live their lives in their comfort zone such as listening to music, browsing the internet for news, etc. Increasing inclination towards modern ambiance at the workplace coupled with changing lifestyles are some major factors expected to drive the growth of the target market.
Rising demand for furniture that aids to avoid health issues for employees such as back pain is one of the key factors expected to support the growth of the target market.
Also, an increasing working population and rising demand for premium, ready-to-assemble, and eco-friendly furniture among various corporate offices are some additional factors expected to drive the growth of the target market.
However, the limited availability of land for tree plantations to produce wood is one of the major factors expected to hamper the growth of the target market.
In addition, demand for wooden office furniture is relatively high and supply is limited, owing to inadequate production of wood resources which in turn is expected to hinder the growth of the target market. Fragmentation of the retail furniture market is another factor estimated to impede the growth of the target market.
Global Office Furniture Market Segment Analysis:
On the basis of type, the office chairs segment is expected to account for a significant share of the market in terms of revenue, owing to an increasing number of the working population.
On the basis of material, the wood segment is expected to register significant growth, owing to its characteristics such as durability and recyclability.
On the basis of sales channels, the e-commerce stores segment is witnessing considerable growth, owing to the increasing penetration of smartphones and the internet.
Global Office Furniture Market Regional Analysis:
The office furniture market in the Asia Pacific is expected to register significant growth, owing to the increasing number of the working population. In addition, an increasing number of start-ups and an increasing number of business expansions is other factors expected to drive the growth of the target market in the region.
The rapid growth of the foodservice industry is expected to support the growth of the target market in the region. In addition, various food service providers such as cafes, hotels, and restaurants are adopting theme-based furniture in order to enhance their visibility which in turn is expected to propel the growth of the target market.
Markets in Europe, North America, Latin America, and Middle East & Africa are expected to witness moderate growth, over the forecast period.
Global Office Furniture Market Segmentation:
Segmentation by Type:
- Office Tables
- Office Chairs
- Office Furnishing
- Storage Cabinets
- Others (Workstation and Shelving Units)
Segmentation by Material:
- Others (Glass and Leather)
Segmentation by Sales Channel:
- Retail Stores
- Manufacturer Stores
- E-Commerce Stores
- Discount Stores
Segmentation by Region:
- North America
- Asia Pacific
- Latin America
- Middle East & Africa
Attribute Report Details Market Size Ask For Market Size Growth Rate Ask For Growth Rate Key Companies Ask For Companies Report Coverage Revenue analysis, Competitive landscape, Key company analysis, Market Trends, Key segments, Distribution Channel, Market Dynamics, COVID-19 Impact Analysis and more… Historical Data Period 2015-2020 Base Year 2022 Forecast Period 2022-2031 Region Scope North America, Europe, Asia-Pacific, South America, Middle East & Africa Country Scope United States, Canada and Mexico, Germany, France, UK, Russia and Italy, China, Japan, Korea, India and Southeast Asia, Brazil, Argentina, Colombia etc.Saudi Arabia, UAE, Egypt, Nigeria and South Africa Revenue in US$ Mn
- D3 Inc. (9to5 Seating)
- AFC SYSTEM
- BERCO DESIGNS
- Hussey Seating Company
- Creative Wood
- Global Upholstery Solutions
- Godrej & Boyce Mfg. Co. Ltd.
- Kimball International
- Kinnarps AB
- Knoll, Inc.
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