Institutional And Office Furniture Global Market Report 2022

Major companies in the institutional and office furniture market include Steelcase Inc., Haworth, Inc, Herman Miller Inc., HNI Corporation, Kokuyo Co Ltd, Okamura Corporation, Itoki Corporation, Knoll Inc., Kimball International and Godrej & Boyce Mfg. Co. Ltd.

The global institutional and office furniture market is expected to grow from $200.96 billion in 2021 to $221.05 billion in 2022 at a compound annual growth rate (CAGR) of 10%. The market is expected to grow to $307.76 billion in 2026 at a compound annual growth rate (CAGR) of 8.6%.

The institutional and office furniture market consists of sales of institutional and office furniture by entities (organizations, sole traders and partnerships) that produce institutional and office furniture by designing office furniture including office chairs and desks, office and store fixtures, such as showcases.

The main types of institutional and office furniture are institutional furniture and office furniture.Any furnishing which is free standing and does not necessitate component parts installation is considered office furniture.

The different raw materials include wood, plastic, metal and is distributed through various channels such as exclusive showrooms, online, supermarkets or hypermarkets, others.

Asia Pacific was the largest region in the institutional and office furniture market in 2021.Western Europe was the second largest region in the institutional and office furniture market.

The regions covered in this report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa.

Increasing demand for online shopping is expected to help the institutional and office furniture manufacturing market grow.Manufacturers can now sell their products on a larger platform than before, which will increase their customer base geographically driving the growth of the furniture manufacturing market.

In countries such as India, for instance, e-commerce portals have boosted the sales of furniture manufacturers by giving larger exposure to producers who were confined to one geography.

The outbreak of Coronavirus disease (COVID-19) has acted as a massive restraint on the institutional and office furniture manufacturing market in 2021 as supply chains were disrupted due to trade restrictions and consumption declined due to lockdowns imposed by governments globally.COVID-19 is an infectious disease with flu-like symptoms including fever, cough, and difficulty in breathing.

The virus was first identified in 2019 in Wuhan, Hubei province of the People’s Republic of China and spread globally including Western Europe, North America and Asia.Steps by national governments to contain the transmission have resulted in halting of manufacturing activities and a decline in economic activity with countries entering a state of ’lock down’ and the outbreak had a negative impact on businesses throughout 2021 and into 2021.

However, it is expected that the institutional and office furniture manufacturing market will recover from the shock across the forecast period as it is a ’black swan’ event and not related to ongoing or fundamental weaknesses in the market or the global economy.

Furniture manufacturers are adopting sustainable practices in their manufacturing process.This is mainly a result of growing consumer awareness on sustainable living that is resulting in increasing demand for eco–friendly furniture.

This includes minimizing fuel consumption and recycling wood by products.Companies manufacturing eco-friendly furniture products procure wood from plantations that grow sustainable plants and have a long-term conservation policy.

For example, Crate and Barrel, a North American home retailer is working directly with the Tropical Forest Trust to ensure that the selected hardwood for manufacturing of their furniture is from sustainable plantations that are managed for their long-term conservation. Similarly, Ashley Furniture Industries, Inc. has adopted a “green” approach wherein it focuses on replenishing, recycling and reusing of furniture by using recyclable engineered wood and by reducing raw materials wastage.

The countries covered in the institutional and office furniture market are Argentina, Australia, Austria, Belgium, Brazil, Canada, Chile, China, Colombia, Czech Republic, Denmark, Egypt, Finland, France, Germany, Hong Kong, India, Indonesia, Ireland, Israel, Italy, Japan, Malaysia, Mexico, Netherlands, New Zealand, Nigeria, Norway, Peru, Philippines, Poland, Portugal, Romania, Russia, Saudi Arabia, Singapore, South Africa, South Korea, Spain, Sweden, Switzerland, Thailand, Turkey, UAE, UK, USA, Venezuela, Vietnam.