According to a study by Fact.MR, the global office furniture market is expected to experience steady growth. The market is estimated to reach US$ 30,501.2 million revenue towards 2022 end.
Recently, a novel report developed using proven research methodologies at the headquarters of Fact. MR has identified various prominent factors and trends prompting market growth of office furniture market. The study is titled as “Office Furniture Market Forecast, Trend Analysis & Competition Tracking – Global Review 2017 to 2022”, which deeply analyses the global market trends, with historical data from 2016 and 2017, and projections of compound annual growth rates (CAGRs) during the mentioned forecast of 2017-2022. For the benefit of the readers, the report concludes with a special focus on the detailed profiles of the major vendors in the global office furniture market.
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When referring to the workplace, each and every piece of furniture plays an important role enhancing the productivity. Surrounded by boring furniture, employees often tend to lose interest in work. Hence, businesses are choosing vibrant color furniture with a modular design. With advancement in technology, furniture that can provide quick and easy connectivity are becoming a high priority. Employee fitness and health is also one of the priorities for companies. Therefore, manufacturers are focusing on designing office furniture that can provide correct posture, eventually minimizing strain on the spine. Companies are also fostering innovative culture by providing work areas encouraging communication. To support this, office furniture manufacturers are designing furniture with adjustable heights and using visually attractive color and texture.
According to a study by Fact.MR, the global office furniture market is expected to experience steady growth. The market is estimated to reach US$ 30,501.2 million revenue towards 2022 end. Owing to the rise in the development of commercial complexes across the globe, the demand for office furniture is also increasing. Offering comfort and flexibility, manufacturers are designing furniture that can be integrated with technology. Meanwhile, fitness in the workspace is also being focused on by providing furniture offering comfort and supporting correct posture, thereby eliminating back problems.
3 Forecast Highlights on Global Office Furniture Market
1. Asia Pacific Excluding Japan (APEJ) is expected to remain dominant in the global office furniture market. Experiencing robust growth, APEJ office furniture market is estimated to reach close to US$ 14,800 million revenue by the end of 2022. APEJ is witnessing healthy growth due to the increasing number of commercial complexes, tech parks and expansion of MNCs in the region.
2. North America is expected to emerge as the second most lucrative market in the global office furniture market. Owing to the increasing adoption of innovative technologies in the region and change in overall operations, companies in the region are shifting towards the furniture that can meet their specific needs.
3. Office chairs are expected to emerge as one of the most used and preferred products in the office furniture market. Office chairs are projected to gain around one-third of the revenue share by 2017 end. Towards the end of 2022, office chairs are estimated to bring in nearly US$ 8,900 million revenue.
Office Furniture to Witness Highest Sales through Retail Stores
Accounting for nearly one-third of the revenue share, retail stores is expected to emerge as the most lucrative sales channel for office furniture. Towards the end of 2022, retail stores are projected to bring in nearly US$ 9,600 million revenue. Although sales of office furniture through direct to customer sales channel is also expected to experience above-average growth during the forecast period 2017-2022.
Office Chairs- Top-Selling Product
Compared to other office furniture such as tables, office systems furniture, storage furniture, etc., office chairs are expected to emerge as a top-selling product. Witnessing a steady growth, office chairs is estimated to surpass US$ 8,800 million value by the end of 2022. Meanwhile, office tables are also expected to account for nearly one-third of the revenue share by 2017 end.
The report offers a detailed profile of various companies that are expected to remain active in the expansion of global office furniture market through 2022, which include Herman Miller Inc., Steelcase Inc., Knoll, Inc., Okamura Corp, HNI Corporation, Uchida Yoko Co., Ltd, INABA SEISAKUSHO Co., Ltd, Itoki Corp, Fursys, Inc., and UE Furniture Co., Ltd.
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Table of Content:
1. Global Office Furniture Market – Executive Summary
2. Global Office Furniture Market Overview
2.1.1. Global Office Furniture Market Taxonomy
2.1.2. Global Office Furniture Market Definition
2.2. Global Office Furniture Market Size (US$ Mn) and Forecast, 2012-2022
2.2.1. Global Office Furniture Market Y-o-Y Growth
2.3. Global Office Furniture Market Dynamics
2.4. Cost Structure
2.5. Pricing Analysis
2.6. Market Opportunities
2.7. Product Innovations
2.8. List of Distributors
2.9. Key Participants in the Market By Region
3. Global Office Furniture Market Analysis and Forecast By Product Type
3.1. Global Office Furniture Market Size and Forecast By Product Type, 2012-2022
3.1.1. Office Chairs Market Size and Forecast, 2012-2022
220.127.116.11. Revenue (US$ Mn) Comparison, By Region
18.104.22.168. Market Share Comparison, By Region
22.214.171.124. Y-o-Y growth Comparison, By Region
3.1.2. Office Tables Market Size and Forecast, 2012-2022
126.96.36.199. Revenue (US$ Mn) Comparison, By Region
188.8.131.52. Market Share Comparison, By Region
184.108.40.206. Y-o-Y growth Comparison, By Region
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