Office Furniture Market size was valued at USD $48.1 Billion in 2021, growing at a CAGR of 2.7% from 2022 to 2030: xResearch

 

The market for office furniture has been expanding steadily over the past few years. Office furniture demand has decreased as a result of COVID-19, along with company confidence and new commercial construction. Many businesses have halted their growth into new workspaces and fired their staff members. The demand for new office furniture products has declined as a result of these abrupt shifts.

 

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The market for office furniture shrank to USD 48.1 billion in 2021. The worldwide office furniture industry is anticipated to reach USD 54.9 billion by 2030, with a CAGR of 2.7% from 2022 to 2030. Product demand is anticipated to rise over the coming years as a result of improving economic conditions and expansion in the industrial and services sectors across all regions. Office furniture made for over 13.4% of the worldwide furniture market in 2021.

One of the industries with the greatest global recognition is commercial real estate. Rising office space demand and the expansion of the commercial sector are excellent complements to the growth of this industry. High demand for office space is being seen in industries like IT and ITeS, consultancy, retail, and e-commerce, which is encouraging for the growth of the global office furniture industry. In addition, the growth of multinational corporations in numerous other countries is increasing the demand for new office supplies.

Segmentation of Office Furniture market

 

By Product Type

·        Seating

·        Workstations

·        Tables

·        Storage Units

·        Accessories

By Retailing Channel

·        Offline Stores

·        Online Stores

By Price Range

·        High Priced

·        Medium Priced

·        Low Priced

Regional Analysis

·        North America

·        Latin America

·        Europe

·        Asia Pacific

·        Middle East & Africa

 

Office Furniture Market Competitive Landscape

The top ten office furniture manufacturers account for around one-third of global office furniture business. In developed nations such as U.S. and Japan, office furniture market is majorly captured by top players. However, in Asia Pacific, the market is more fragmented due to the presence of various domestic and regional players.

The office furniture market report profiles various major and niche office furniture manufactures with their detailed company information, product portfolio, SWOT analysis, financial performance, company business strategy, controlled companies and subsidiaries, manufacturing plants and office locations, recent developments and strategic moves (i.e. acquisition, expansion, merger & joint venture, investment etc.

Some of the major companies included in office furniture market report are Steelcase, Herman Miller, Haworth, Knoll, HNI, Kokuyo, Okamura, IKEA, Kimball International, Hooker Furniture, among others.

 

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xResearch is a market research and consulting organization that uses unique data, expert analysis, and new technologies to create trusted intelligence on industries. Our research is focused on delivering an informed and impartial view on essential market data of industry, and it is primarily driven by an in-depth study covering the following parameters: Market Sizing and Forecasting, Market Segmentation, Competitive Analysis, Strategic Assessment and Business Modelling.

                                       

                                       

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