Office Furniture Market Size is anticipated to reach USD 54.9 billion by 2030
The office furniture market 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. 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.
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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.
Office Furniture
Market Competitive Landscape
About one-third of the world's office furniture market is
accounted for by the top ten manufacturers. Top companies dominate the office furniture market in
industrialized nations like the United States and Japan. Due to the existence
of numerous local and regional companies, the market is more fragmented in Asia
Pacific.
The office furniture market report profiles a number of
significant and specialized office furniture manufacturers with their
comprehensive company information, product portfolios, SWOT analyses, financial
results, company business strategies, controlled companies and subsidiaries,
manufacturing plants and office locations, recent developments, and strategic
moves (such as acquisition, expansion, merger & joint venture, investment,
etc.).
The research on the office
furniture market lists a number of significant businesses, including
Steelcase, Herman Miller, Haworth, Knoll, HNI, Kokuyo, Okamura, IKEA, Kimball
International, and Hooker Furniture.
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
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