Educational Furniture Market Forecast to 2028 - COVID-19 Impact and Global Analysis By Material (Wood, Plastic, Metal, and Others), Product Type (Benches and Chairs, Desks and Tables, Storage Units, and Others), and End Use (Institutional and Residential)
The educational furniture market was valued at US$ 7,783.45 million in 2022 and is expected to reach US$ 10,420.65 million by 2028. It is expected to grow at a CAGR of 5.0% from 2022 to 2028.
The selection of right educational furniture is a major factor during the development of education infrastructure.Furniture used in educational applications is designed for high-performance learning environments.
These companies are offering furniture such as tables, chairs, benches, soft rock chairs, and others for the classroom, library, and in-between space.In addition, different type of student seating such as ChangeUp Tablet Arm, Intellect Wave Chair, Learn2 Seating, Ricochet Stool, and Ruckus Chair is popular among the schools in the US.
Tables such as rectangle, arc, blade, blend, delta, diamond, kidney, round, flip-door plane, and D-top for the classroom, makerspace, cafeteria, library, common rooms, and CTE are highly available in the US market. Moreover, manufacturers are strengthening their position by merging with or acquiring other furniture producers, and also offering innovative products to gain more customer base.
Based on product type, the global educational furniture market is segmented into benches and chairs, desks and tables, storage units, and others.In 2021, the benches and chairs segment held the largest market share and is expected to register the highest CAGR during the forecast period.
Benches and chairs are supplied to the school management across the globe in bulk quantities.School chairs vary in design and are primarily made of wood, metal, and synthetic plastic materials.
Major market players offer distinct portfolios on benches and chairs; for instance, magis spun chair, caper stacking chair, intellect wave chair, ruckus chair, stacking study chair, ergo stacking chair, stacking chair, and study chair, across the globe to meet the varied customer requirements.
The global educational furniture market is segmented into Asia Pacific, Europe, Middle East & Africa, North America, and South & Central America.In 2021, North America held the largest share of the global educational furniture market, and Asia Pacific is expected to register the highest CAGR during the forecast period.
The educational furniture market in Asia Pacific is segmented into China, India, Australia, Japan, South Korea, and the Rest of Asia Pacific.Increased focus on education across urban and rural areas, and the implementation of mandatory primary education schemes by governments of various countries result in the construction of schools and educational institutions across this region.
In May 2020, the Government of India announced financial aid for the Government of Nepal of US$ 819,400 for the construction of school buildings, boosting the educational infrastructure in Nepal. Such initiatives through schemes and funding resulting in the construction of new educational institutes contribute to the demand for educational furniture in the region.
The COVID-19 pandemic affected economies and industries in various countries with lockdowns, travel restrictions, and business shutdowns.These shutdowns disturbed global supply chains, manufacturing activities, delivery schedules, and essential and nonessential product sales.
Various companies announced possible delays in product deliveries and a slump in future sales of their products in 2020.Further, the bans imposed by governments of various countries, including the US, China, India, Germany, and Italy, on international travel forced several companies to discontinue their collaboration and partnership plans.
All these factors hampered the consumer goods industry in 2020 and early 2021, thereby restraining the growth of various markets related to this industry, including the educational furniture market.
The onset of the COVID-19 outbreak created a temporary disruption in operational efficiencies in the European market.The continued closure of schools due to the pandemic has caused unprecedented challenges in the region’s educational furniture market.
Supply chain disruption due to COVID-19 pertaining to production and transport delays impacted the educational furniture market.However, countries in the European Union provided financial support to affected industries.
For instance, under the Recovery and Resilience Plan (RPP), Italy granted funding of US$ 233.4 for plan execution, of which US$ 23.4 are for measures related to strengthening the education and training offered and improving its quality at all levels, from early childhood education & care to higher education.
AFC Furniture Solutions Pvt Ltd, Fleetwood Group Inc, Scholar Craft Products Inc, Smith Systems Manufacturing Co, Knoll Inc, Haworth Inc, Vitra International AG, Virco Manufacturing Corp, Office Line Srl, and Creaciones Falcon SLU are among the leading players in the global educational furniture market. These companies are adopting strategies such as mergers & acquisitions and product launches to expand their geographic presence and consumer bases.
The overall global educational furniture market size has been derived using both primary and secondary sources.To begin the research process, exhaustive secondary research has been conducted using internal and external sources to obtain qualitative and quantitative information related to the market.
Also, multiple primary interviews have been conducted with industry participants to validate the data and gain more analytical insights. Participants of this process include industry experts such as VPs, business development managers, market intelligence managers, and national sales managers—along with external consultants, including valuation experts, research analysts, and key opinion leaders—specializing in the global educational furniture market.