Office Furniture Market Share, Demand, Top Players, Industry Size, Future Growth By 2029

 The global office furniture market size is set to gain traction owing to the increasing growth of corporate spaces. Fortune Business InsightsTM has presented this information in its report titled “Office Furniture Market, 2022-2029”.

COVID-19 Impacts:

COVID-19 Impacted the Market Positively as a Result of Work From Home Policies

Increasing construction of residences, offices, and commercial complexes has been one of the major factors influencing market growth throughout the study period, and the trend is expected to continue in the forecast period as well. Though many companies switched to remote working practices due to the COVID-19 pandemic, the majority of employees have gradually resumed their office work routine, which is expected to accelerate market growth. The rapid construction of IT parks and commercial zones is increasing the number of corporate offices, creating a global demand for modernized office furniture.

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Fortune Business Insights™ lists out all the office furniture market companies that are presently striving to reduce the impact of the Covid-19 pandemic on the market:

  • Steelcase Inc.
  • Herman Miller Inc.
  • HNI Corporation
  • Haworth Inc.
  • GM Seating
  • Serta Mid-Black
  • Okamura Corporation

Report Coverage -

The report goes into great detail about the office furniture industry. The report includes data on the driving and restraining factors, as well as the impact of COVID-19. It also includes information on key market players who are pursuing multiple growth strategies in order to maintain market share and positions.

Drivers & Restraints -

Expansion of Corporate Spaces to Boost the Market Growth

The expansion of corporate spaces necessitates a greater consumption of sustainable furniture that promotes employee work culture. As a primary facility, every office requires furniture with value-added features to boost workforce engagement and create a friendly working environment. The furniture comes in a variety of shapes and sizes and can be adjusted to meet the functional needs of the users. Furthermore, the market is expected to exhibit significant growth opportunities due to the rising demand for office space renovation and modification.

However, businesses buy furniture in bulk for their office spaces, but the demand for such products is hampered by rising manufacturing and transportation costs. This, in turn, limits the office furniture market growth.

Regional Insights -

Asia Pacific to Hold a Dominant Position Owing to Major Lifestyle Changes

During the forecast period 2021-2028, the Asia Pacific region is expected to hold a dominant office furniture market share. Global demand for office furniture is increasing due to rising disposable income and changing lifestyle trends. Additionally, manufacturers are adding value-added features and designs to furniture and focusing on improving ergonomics for individual needs in commercial and residential spaces.

The North American market is also expected to expand significantly between 2021 and 2028. The expansion is primarily due to increased demand for furniture manufacturers and businesses in the region. Furthermore, increased housing renovation and spacious workspaces assist manufacturers in launching products that meet the functional requirements of consumers.

A diverse portfolio of feature-rich furniture products that support commercial and residential spaces dominates the North American market. Furthermore, the growing emphasis of businesses and organizations on maintaining an environmentally friendly work culture is promoting the growth of such products.

Segmentation -

On the basis of type, the market is divided into ergonomic chairs, computer tables, desks, and others. On the basis of distribution channels, the market is segmented into offline retail (furniture retail stores supermarkets/hypermarkets others), and online retail. Geographically, the market is classified into North America, Europe, Asia Pacific, South America, the Middle East & Africa.

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Office Furniture Market Size Highlights of the Report:

  • Market Penetration: Comprehensive information on the product portfolios of the top players in the Office Furniture market.
  • Product Development/Innovation: Detailed insights on the upcoming technologies, RandD activities, and product launches in the market
  • Competitive Assessment: In-depth assessment of the market strategies, geographic and business segments of the leading players in the market
  • Market Development: Comprehensive information about emerging markets. This report analyzes the market for various segments across geographies
  • Market Diversification: Exhaustive information about new products, untapped geographies, recent developments, and investments in the Office Furniture market

The Global Office Furniture Market Research/Analysis Report Contains Answers to your following questions:

  • Which Manufacturing Technology is used for Office Furniture? What Developments Are Going On in That Technology? Which Trends Are Causing These Developments?
  • Who Are the Global Key Players in This Office Furniture Market? What are Their Company Profile, Their Product Information, and Contact Information?
  • What Was Global Market Status of Office Furniture Market? What Was Capacity, Production Value, Cost and PROFIT of Office Furniture Market?
  • What Is Current Market Status of Office Furniture Industry? What’s Market Competition in This Industry, Both Company, and Country Wise? What’s Market Analysis of Office Furniture Market Trends by Taking Applications and Types in Consideration?
  • What Are Projections of Global Office Furniture Industry Considering Capacity, Production and Production Value? What Will Be the Estimation of Cost and Profit? What Will Be Market Share, Supply and Consumption? What about Import and Export?
  • What Is Office Furniture Market Chain Analysis by Upstream Raw Materials and Downstream Industry?
  • What Is Economic Impact On Office Furniture Industry? What are Global Office Furniture Analysis Results? What Are Global Office Furniture Development Trends?
  • What Are Market Dynamics of Office Furniture Market? What Are Challenges and Opportunities?
  • What Should Be Entry Strategies, Countermeasures to Economic Impact, and Marketing Channels for Office Furniture Industry?

Competitive Landscape -

Wayfair Professional Introduces a Line of Commercial Office Furniture

In February 2020, Wayfair Professional introduces a commercial collection of office furniture and décor to meet a variety of seating requirements in both the commercial and residential sectors.

Notable Development -

September 2019: Steel Case acquired Orange Box Group Ltd. in order to innovate its office furniture product line by focusing on a collaborative working approach for a wider range of furniture categories.

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