Global Office Furniture Market – Industry Trends and Forecast to 2030

Global Office Furniture Market, By Material (Wood, Metal, Plastics, Others), Product (Office Chairs, Office Tables, Storage Furniture, Office Systems Furniture, Reception Furniture, Other Product Types), Sales Channel (Retail Stores, Direct to Consumer, Manufacturer Stores, E-Commerce Stores, Discount Stores, Rental Stores, Other Sales Channels), Price Range (Low, Medium, High), End-User (Enterprise, Hospitals, Schools, Others) – Industry Trends and Forecast to 2030.

Office Furniture Market Analysis and Size

With the continuous expansion of the business environment at a global scale, office furniture is gaining immense popularity. A large number of local and big-scale market players are heavily investing in product innovations. The race to highlight their USPs is proving to be a boon for the overall furniture market. Nowadays, the office furniture isn’t just restricted to tables and chairs. It is a lot more, incorporating the application of sensors, systems and technologies that conclusively provide an interactive environment.

Data Bridge Market Research analyses that the office furniture market, valued at USD 94.22 billion in 2022, will reach USD 158.29 billion by 2030, growing at a CAGR of 6.70% during the forecast period of 2023 to 2030. In addition to the market insights such as market value, growth rate, market segments, geographical coverage, market players, and market scenario, the market report curated by the Data Bridge Market Research team includes in-depth expert analysis, import/export analysis, pricing analysis, production consumption analysis, and consumer behaviour..

Office Furniture Market Scope and Segmentation  

Market Definition

Any piece of furniture that can stand alone and doesn't need to be assembled from separate parts is referred to as office furniture. Desks, chairs, filing cabinets, tables, lounge furniture, and computer desks are a few examples. Office furniture can be installed in all kinds of enterprises and other infrastructural facilities such as hospitals, schools, gymnasiums, and others.  

Office Furniture Market Dynamics

Drivers

• Rising number of construction activities will bolster the market growth

Growing number of infrastructural development activities for commercial activities, especially in the developing economies such as India, China and more, is a positive sign for the global office furniture market. Considered as real estate opportunities, the number of office buildings are on the rise as they provide income and growth opportunities for a number of stakeholders.

• Growing focus on employee productivity is a major driver

The focus of all small and large-scale organizations towards improving the employee productivity by offering a convenient, comfortable and furnished environment is a major growth driving factor. Installation of embedded controllers and sensors to offer both automatic and manual control to the employees, reduces the stress, cuts down unnecessary movements and escalates the overall performance.

Opportunities

• The trend of modular setting is a futuristic opportunity  

Increasing prices of office furniture has risen the demand for modular furniture settings, such, that can serve multitude of purposes. In addition, growing demand for home-like office furniture, backed by the trend of remote working and work from home is positively influencing the market growth. Offering by manufacturers such as innovative-multi functioning office furniture will also propel growth.

Restraints/Challenges

• Fluctuations in the prices will derail the market growth rate

The growth of the market is constrained because of the high fluctuation in the prices of raw materials. Also, rise in supply chain, production, and shipping charges have led to creating a volatile market, where investors are trembling to invest in. Long replacement cycles and logistics complexity are the major causes of concern.  

This office furniture market report provides details of new recent developments, trade regulations, import-export analysis, production analysis, value chain optimization, market share, impact of domestic and localized market players, analyses opportunities in terms of emerging revenue pockets, changes in market regulations, strategic market growth analysis, market size, category market growths, application niches and dominance, product approvals, product launches, geographic expansions, technological innovations in the market. To gain more info on the office furniture market contact Data Bridge Market Research for an Analyst Brief, our team will help you take an informed market decision to achieve market growth.

COVID-19 Impact

The COVID-19 outbreak forced many businesses to adopt remote working procedures. The bulk of workers have been gradually returning to their normal work schedules, which is expected to hasten the market's growth. Global demand for modern office furniture is brought on by an increase in corporate offices due to the quick development of commercial zones and IT parks. Organizations are setting up casual office spaces to improve communications among employees and foster a collaborative environment through social interactions. This change has compelled producers in the sector under study to launch furniture products with clever design.

Recent Developments

• In 2021, Herman Miller Inc. announced plans to acquire rival Knoll Inc. for USD 1.8 billion in cash and equity.
• In 2021, PPG Industries Ohio Inc. (PPG) declared the launch of PPG ERGOLUXE powder coatings for metal office furniture. The new coatings for seating options, workstations, and cabinets offer a distinctive polyester-hybrid technology and offer aesthetic and sustainability advantages over conventional liquid or solvent-based coatings.
• In 2020, A commercial collection of office furniture from Wayfair Professional, a maker of office furniture and accessories, will be released to address a range of seating requirements for both the commercial and domestic sectors.

Global Office Furniture Market Scope

The office furniture market is segmented on the basis of material, product, sales channel, price range, and end-user. The growth amongst these segments will help you analyze meagre growth segments in the industries and provide the users with a valuable market overview and market insights to help them make strategic decisions for identifying core market applications.

Material

• Wood
• Metal
• Plastics
• Others

 Product

• Office Chairs
• Office Tables
• Storage Furniture
• Office Systems Furniture
• Reception Furniture
• Other Product Types

Sales Channel

• Retail Stores
• Direct to Consumer
• Manufacturer Stores
• E-Commerce Stores
• Discount Stores
• Rental Stores
• Other Sales Channels

 Price Range

• Low
• Medium
• High

 End-User

• Enterprise
• Hospitals
• Schools
• Others

Office Furniture Market Regional Analysis/Insights

The office furniture market is analyzed and market size insights and trends are provided by country, material, product, sales channel, price range, and end-user as referenced above.

The countries covered in the office furniture market report are U.S., Canada and Mexico in North America, Germany, France, U.K., Netherlands, Switzerland, Belgium, Russia, Italy, Spain, Turkey, Rest of Europe in Europe, China, Japan, India, South Korea, Singapore, Malaysia, Australia, Thailand, Indonesia, Philippines, Rest of Asia-Pacific (APAC) in the Asia-Pacific (APAC), Saudi Arabia, U.A.E, South Africa, Egypt, Israel, Rest of Middle East and Africa (MEA) as a part of Middle East and Africa (MEA), Brazil, Argentina and Rest of South America as part of South America.

Asia-Pacific dominates the market and will continue to do so during the forecast period. China, Japan, Australia, and India are the top contributors from this region. The dominance of Asia-Pacific is attributed to the exponential rise in number of commercial properties. Growing number of employment opportunities is an indirect market growth promoter. 

On the other hands, North America will emerge as the region, witnessing the highest growth rate during the forecast period. U.S. and Canada will emerge as the major contributors for North America owing to the expansion of local and international business in these economies.

The country section of the report also provides individual market impacting factors and changes in regulation in the market domestically that impacts the current and future trends of the market. Data points like down-stream and upstream value chain analysis, technical trends and porter's five forces analysis, case studies are some of the pointers used to forecast the market scenario for individual countries. Also, the presence and availability of global brands and their challenges faced due to large or scarce competition from local and domestic brands, impact of domestic tariffs and trade routes are considered while providing forecast analysis of the country data.

Competitive Landscape and Office Furniture Market Share Analysis

The office furniture market competitive landscape provides details by competitor. Details included are company overview, company financials, revenue generated, market potential, investment in research and development, new market initiatives, global presence, production sites and facilities, production capacities, company strengths and weaknesses, product launch, product width and breadth, application dominance. The above data points provided are only related to the companies' focus related to office furniture market.

Some of the major players operating in the office furniture market are:

• Al Meera Holding Company LLC (Qatar)
• American Woodmark Corporation (U.S.)
• Ballingslöv International AB (Sweden)
• Black Red White (Poland)
• Boffi S.p.A. (Italy)
• Bulthaup GmbH & Co KG (Germany)
• Cabico inc (Canada)
• CABINETWORKS GROUP (U.S.)
• Godrej Interio (India)
• Goldenhome International Inc. (U.S.)
• Häcker Küchen(Germany)
• Haier Inc. (China)
• HANSSEM CO., LTD. (South Korea)
• Howden Joinery Ltd (U.K.)
• Inter IKEA Systems B.V. (Netherlands)
• Interwood (India)