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Market Overview:
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. Keeping in mind the uncertainties of COVID-19, we are continuously tracking and evaluating the direct as well as the indirect influence of the pandemic on different end use sectors. These insights are included in the report as a major market contributor.
Office furniture is designed specifically for use in commercial and corporate spaces such as meeting rooms, individual workstations, cafeterias, and lounges. Filing cabinets, seating furniture and tables are some of the essential furniture items that help in enhancing the overall aesthetics of these spaces. Wood, steel, glass, and plastic are the most popular raw materials used for manufacturing these products. The style of office furniture can be correlated with the work style and output of the employees of an organization. At present, the global market for office furniture is driven by factors like the expanding corporate sector, rapidly growing real estate industry and escalating demand for premium and designer furniture.
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Note: Values and trends in the above chart consists of dummy data and are only shown here for representation purpose. Kindly contact us for the actual market size and trends.
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Market Trends:
An increase in the number of corporate offices owing to the rapid construction of IT Parks and commercial zones is creating a demand for modernized office furniture across the globe. In addition to this, for boosting colleague communications, collaborative environment and social interactions, organizations are creating informal office spaces. This shift has prompted the manufacturers in the office furniture industry to introduce intelligently designed furniture products. Other than this, on account of technological advancements and rising cases of health issues due to the sedentary lifestyle of employees, there has been a rise in the demand for smart workplace furniture that provides internet connectivity as well as promotes better posture and movement support. This factor is expected to have a significant impact on the demand for office furniture during the forecast period.
Key Market Segmentation:
IMARC Group provides an analysis of the key trends in each sub-segment of the global office furniture market, along with forecasts at the global and regional level from 2022-2027. Our report has categorized the market based on product type, material type, distribution channel and price range.
Breakup by Product Type:
Breakup by Material Type:
Breakup by Distribution Channel:
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Note: Values and trends in the above chart consists of dummy data and are only shown here for representation purpose. Kindly contact us for the actual market size and trends.
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Breakup by Price Range:
Breakup by Region:
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Competitive Landscape:
The report has also analysed the competitive landscape of the market with some of the key players being Steelcase Inc., OKAMURA CORPORATION., HNI Corporation, Herman Miller Inc., Haworth Inc., Knoll Inc., KOKUYO Co. Ltd, Meridian Office Group, Kimball International, 9to5 Seating, BERCO DESIGNS, Hooker Furniture, etc.
Report Coverage:
Report Features | Details |
---|---|
Base Year of the Analysis | 2021 |
Historical Period | 2016-2021 |
Forecast Period | 2022-2027 |
Units | US$ Billion |
Segment Coverage | Product Type, Material Type, Distribution Channel, Price Range, Region |
Region Covered | Asia Pacific, Europe, North America, Latin America, Middle East and Africa |
Companies Covered | Steelcase Inc., OKAMURA CORPORATION., HNI Corporation, Herman Miller Inc., Haworth Inc., Knoll Inc., KOKUYO Co. Ltd, Meridian Office Group, Kimball International, 9to5 Seating, BERCO DESIGNS and Hooker Furniture |
Customization Scope | 10% Free Customization |
Report Price and Purchase Option | Single User License: US$ 2499 Five User License: US$ 3499 Corporate License: US$ 4499 |
Post-Sale Analyst Support | 10-12 Weeks |
Delivery Format | PDF and Excel through Email (We can also provide the editable version of the report in PPT/Word format on special request) |
The global office furniture market was valued at US$ 58.4 Billion in 2021.
We expect the global office furniture market to exhibit a CAGR of 4.1% during 2022-2027.
A significant growth in corporate sector, along with the emergence of smart furniture that are
integrated with sensors to remind the users to change their posture at regular intervals, is primarily
driving the global office furniture market.
The sudden outbreak of the COVID-19 pandemic had led to the implementation of stringent lockdown
regulations across several nations resulting in work from home scenario, thereby limiting the overall
demand for office furniture items.
Based on the product type, the global office furniture market has been segregated into seating, systems,
tables, storage units and file cabinets, overhead bins, and others. Currently, seating accounts for the
majority of the total market share.
Based on the material type, the global office furniture market can be categorized into wood, metal,
plastic and fiber, glass, and others, where wood exhibits a clear dominance in the market.
Based on the distribution channel, the global office furniture market has been divided into direct sales,
specialist store, non-specialist stores, online, and others. Among these, direct sales currently hold the
majority of the global market share.
Based on the price range, the global office furniture market can be segmented into low, medium, and
high. Currently, low ranged office furniture accounts for the largest market share.
On a regional level, the market has been classified into North America, Asia Pacific, Europe, Latin
America, and Middle East and Africa, where Asia Pacific currently dominates the global market.
Some of the major players in the global office furniture market include Steelcase Inc., OKAMURA
CORPORATION., HNI Corporation, Herman Miller Inc., Haworth Inc., Knoll Inc., KOKUYO Co. Ltd,
Meridian Office Group, Kimball International, 9to5 Seating, BERCO DESIGNS, Hooker Furniture, etc.
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