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Office Furniture Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2019-2024

Office Furniture Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2019-2024

  • August 2019
  • 109 pages
  • ID: 5808078
  • Format: PDF
  • By IMARC Group

Summary

Table of Contents

The global office furniture market was worth US$ 64.3 Billion in 2018. 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.

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. Looking forward, the analyst expects the market to reach a value of US$ 86.7 Billion by 2024, registering a CAGR of around 5% during 2019-2024.

Report Coverage:
Historical, Current and Future Market Trends

Market Breakup by Product Type:
Seating
Systems
Tables
Storage Units and File Cabinets
Overhead Bins
Others

Market Breakup by Material Type:
Wood
Metal
Plastic and Fiber
Glass
Others

Market Breakup by Distribution Channel:
Direct Sales
Specialist Store
Non-Specialist Stores
Online
Others

Market Breakup by Price Range:
Low
Medium
High

Market Breakup by Region:
North America
Asia Pacific
Europe
Middle East and Africa
Latin America

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.

Key Questions Answered in This Report:
How has the global office furniture market performed so far and how will it perform in the coming years?
What are the key regional markets in the global office furniture industry?
What is the breakup of the market based on the product type?
What is the breakup of the market based on the material type?
What is the breakup of the market based on the distribution channel?
What is the breakup of the market based on the price range?
What are the various stages in the value chain of the global office furniture industry?
What are the key driving factors and challenges in the global office furniture industry?
What is the structure of the global office furniture industry and who are the key players?
What is the degree of competition in the global office furniture industry?
What are the profit margins in the global office furniture industry?

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