As per the latest report by IMARC Group, titled “School Furniture Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2019-2024”, the global school furniture market size reached US$ 4.3 Billion in 2018. School furniture plays an active and crucial role in transforming a classroom from a static physical space into a dynamic learning environment. Usually made from wood, metal and plastic, it is designed in a way which is not only considered effective for use but also beneficial for physical health. It provides comfort to the students which allows them to work with their full potential and concentration. Over the years, it has witnessed several developments in terms of raw materials, functionality and aesthetics. From stationary desks and benches, modern school furniture has evolved to include foldable/stackable tables and chairs which can be easily moved, grouped and re-organized.
Global School Furniture Market Trends:
The rising demand for ergonomically designed furniture from educational institutes is one of the major factors driving the market growth. The usage of low-quality furniture in classrooms can often lead to discomfort, which may further result in the development of certain health issues. As a result, several schools across the globe are adopting desks and chairs equipped with wheels and spacious cabinets, which provide enhanced convenience. Moreover, an increase in the number of K-12 schools across the globe and growing awareness about the importance of education have led to a rise in the enrollment of students which, in turn, is impelling the demand for desks and chairs. In addition to this, initiatives taken by several governments to improve the literacy rate is another growth-inducing factor. Furthermore, the development of innovative products such as portable furniture and flip classrooms, owing to technological developments, along with the growing demand for eco-friendly furniture, is also providing a boost to the market growth. On account of the aforementioned factors, the market value is expected to reach US$ 6.4 Billion by 2024, growing at a CAGR of 6.5% during 2019-2024.
- Based on the product type, the market has been divided into desks and chairs, storage, lab equipment, and others. Amongst these, the desks and chairs segment accounts for the largest market share.
- On the basis of the material, the market has been segregated into wood-based, metal-based, plastic-based and others. At present, wood-based school furniture exhibits a clear dominance in the market.
- On the geographical front, North America accounts for the majority of the total market share. Other major regions include Europe, Asia Pacific, Middle East and Africa, and Latin America.
- The competitive landscape of the market has also been studied in the report with the detailed profiles of the key player including Herman Miller, Inc., HNI Corporation, Steelcase, Knoll, Inc and Smith System.
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.
IMARC’s information products include major market, scientific, economic and technological developments for business leaders in pharmaceutical, industrial, and high technology organizations. Market forecasts and industry analysis for biotechnology, advanced materials, pharmaceuticals, food and beverage, travel and tourism, nanotechnology and novel processing methods are at the top of the company’s expertise.
Follow us on twitter : @imarcglobal