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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 refers to ergonomic objects used in commercial and corporate places to improve the overall aesthetic appearance of the place and meet the requirements of the employees. It is manufactured using durable raw materials, including wood, plastics, glass, iron, and marble. It includes desks, tables, chairs, sofas, storage cabinets, cubicle dividers, and shelving and filing cabinets installed in meeting rooms, individual workstations, cafeterias, and lounges. It makes the office environment comfortable and helps increase the work efficiency of employees. It also aids in protecting documents and electronics from dust, theft, fire, and pests. Nowadays, manufacturers are offering multi-functional furniture in various sizes, colors, and designs with enhanced storage capacities.
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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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The growing global working population and consequently rising construction of information technology (IT) parks and commercial zones are increasing the need for office furniture to create a supportive workplace. The increasing activities of renovation, remodeling, and modification of office spaces are also catalyzing the demand for office furniture. In addition, the expansion of start-ups due to the increasing requirement for employment is strengthening the market growth. In line with this, various public and private organizations are focusing on creating informal office spaces to promote colleague social interaction and provide a collaborative environment. This emerging work culture is propelling office furniture manufacturers to introduce intricately designed furniture products. Apart from this, the rising demand for sustainable furniture variants with additional features to minimize occupying space and uplift workforce engagement. Additionally, rising cases of health diseases due to incorrect postures for a long time are catalyzing the demand for smart furniture that facilitates better support. Moreover, increasing investment in research and development (R&D) is encouraging manufacturers to develop portable and advanced furniture variants, which is expected to drive the market.
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:
Seating furniture currently represents the largest market segment as it is the most essential and basic furniture to set up an office.
Breakup by Material Type:
Wood furniture holds the majority of the total market share as it is strong, resilient, durable, recyclable, and requires very less maintenance.
Breakup by Distribution Channel:
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Direct sales account for the largest market share as it offers lower pricing to the customers.
Breakup by Price Range:
Low-priced furniture dominates the market as it helps companies save money and invest in other items.
Breakup by Region:
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The Asia Pacific holds the leading position in the market due to rapid urbanization and the expansion of start-ups and small and medium-sized enterprises (SMEs) in the region.
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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