U.S. Contract Furniture and Furnishing Market, By Type (Chairs and Stools, Storage Cabinets, Desk and Tables, Lighting Fixtures, Architectural Walls, Cafeteria Tables and Chairs, Cabin Tables, Sofas, Kitchen Furniture, Office Technology, Acoustic Privacy/Panels, and Others), Distribution Channel (Online and Offline), End User (Hospitals, Corporate Offices, Hospitality, Schools and Universities, Airports, Food Services, and Others) – Industry Trends and Forecast to 2031.
U.S. Contract Furniture and Furnishing Market Analysis and Size
In the contract furniture and furnishing market, a cutting-edge application involves leveraging augmented reality for personalized design experiences, enhancing client collaboration. In addition, the industry sees a transformative shift with sustainable materials and modular solutions, fostering eco-friendly practices and adaptable workspaces.
Data Bridge Market Research analyses that the U.S. contract furniture and furnishing market which was USD 14.49 billion in 2023 and is expected to reach USD 23.80 billion by 2031, registering a CAGR of 6.4% during the forecast period of 2024-2031. 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 behavior.
Report Scope and Market Segmentation
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Report Metric
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Details
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Forecast Period
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2024 to 2031
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Base Year
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2023
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Historic Years
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2022 (Customizable to 2016 - 2021)
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Quantitative Units
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Revenue in USD Billion, Volumes in Units, Pricing in USD
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Segments Covered
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Type (Chairs and Stools, Storage Cabinets, Desk and Tables, Lighting Fixtures, Architectural Walls, Cafeteria Tables and Chairs, Cabin Tables, Sofas, Kitchen Furniture, Office Technology, Acoustic Privacy/Panels, and Others), Distribution Channel (Online and Offline), End User (Hospitals, Corporate Offices, Hospitality, Schools and Universities, Airports, Food Services, and Others)
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Market Players Covered
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MillerKnoll, Inc. (U.S.), Haworth Inc. (U.S.), Steelcase (U.S.), Kimball International Inc. (U.S.), National Business Furniture (U.S.), OFS (U.S.), DIRTT (Canada), Teknion (Canada), Affordable Interior Systems, Inc. (U.S.), Safco Products Company (U.S.), Bush Furniture (U.S.), Bestar (Canada), Sauder Woodworking Co. (U.S.), Office Star Products (U.S.), Kinnarps AB (Sweden), Creative Wood (U.S.), Humanscale (U.S.), and Virco Inc (U.S.)
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Market Opportunities
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Market Definition
Contract furniture and furnishings refer to items specifically designed and manufactured for commercial spaces such as offices, hotels, and public venues. Tailored to meet durability and aesthetic requirements, these pieces are created to withstand high traffic and adhere to industry standards, ensuring functionality and style in professional environments.
U.S. Contract Furniture and Furnishing Market Dynamics
Drivers
- Growing Trend for Commercial Real Estate
The demand for contract furniture is intricately linked to commercial real estate trends, particularly in office spaces, hospitality, healthcare, and education sectors. Growth in these industries fuels the need for furniture and furnishings tailored to their specific requirements, driving opportunities for manufacturers and suppliers in the contract furniture market.
- Growing Popularity of Corporate Wellness and Productivity
Companies prioritize employee well-being and productivity, fueling demand for ergonomic office furniture. Adjustable desks, ergonomic chairs, and collaborative workspaces are sought-after solutions to enhance comfort and support. This trend reflects a growing acknowledgment of the link between workplace environment and employee performance, driving investments in ergonomic solutions for a healthier and more productive workforce.
Opportunities
- Growing Trend for Customization and Personalization
Contract furniture manufacturers are meeting the rising demand for personalized solutions by offering customizable options. With consumers seeking furniture that mirrors their styles and preferences, customization has become integral. This trend allows manufacturers to cater to diverse client needs, providing unique and tailored furniture solutions that resonate with each customer's distinct tastes and requirements.
- Growing Focus on Flexible Work Arrangements
The surge in remote work and flexible arrangements is reshaping office furniture demands. Firms now seek adaptable solutions that cater to diverse work styles and collaboration needs. Versatile furniture that seamlessly transitions between individual focus and group interactions is increasingly prized, reflecting the evolving nature of modern work environments.
Restraints/Challenges
- Rising Costs of Raw Materials
Rising material costs severely constrain profit margins for furniture manufacturers, exacerbating financial strain. With limited room for price adjustments, manufacturers may face reduced competitiveness or resort to compromising on material quality. This can lead to a decline in product standards, eroding consumer trust and further reducing demand, which is restrainig the market growth.
- Disruption in Supply Chain
Supply chain disruptions, stemming from events such as natural disasters, trade disputes, or global crises such as the COVID-19 pandemic, often cause production delays and higher expenditures for contract furniture manufacturers. These interruptions hinder the smooth flow of materials and components, impacting the timely delivery of products and ultimately affecting the bottom line.
This U.S. contract furniture and furnishing 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 U.S. contract furniture and furnishing market contact Data Bridge Market Research for an Analyst Brief, our team will help you take an informed market decision to achieve market growth.
Recent Developments
- In 2022, G2 Esports and Herman Miller Gaming, a division of MillerKnoll, forged a partnership, equipping G2’s gaming teams with Herman Miller Gaming gear. This collaboration extends to product development and research, positioning both brands favorably in the competitive contract furniture and furnishing market
- In 2022, HNI Corp. finalized the sale of its Lamex office furniture business in China and Hong Kong to Kokuyo Co., Ltd. for USD 75 million, reshaping its portfolio and strategic focus within the contract furniture and furnishing market
- In 2021, the merger of Herman Miller and Knoll established a design powerhouse, influencing modern home and office spaces. This transformative move significantly impacted the contract furniture and furnishing market, reshaping industry dynamics and consumer expectations
- In 2021, HNI Corporation concluded its acquisition of Design Public Group, a prominent e-commerce distributor of upscale furniture. This strategic maneuver enhanced HNI's presence in the contract furniture and furnishing market, expanding its customer base and product offerings
U.S. Contract Furniture and Furnishing Market Scope
The U.S. contract furniture and furnishing market is segmented on the basis of type, distribution channel, 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.
Type
- Chairs and Stools
- Storage Cabinets
- Desk and Tables
- Lighting Fixtures
- Architectural Walls
- Cafeteria Tables and Chairs
- Cabin Tables
- Sofas
- Kitchen Furniture
- Office Technology
- Acoustic Privacy/Panels
- Others
Distribution Channel
- Online
- Offline
End User
- Hospitals
- Corporate Offices
- Hospitality
- Schools and Universities
- Airports
- Food Services
- Others
Competitive Landscape and U.S. Contract Furniture and Furnishing Market Share Analysis
The U.S. contract furniture and furnishing 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, and application dominance. The above data points provided are only related to the companies' focus related to the U.S. contract furniture and furnishing market.
Some of the major players operating in the U.S. contract furniture and furnishing market are:
- MillerKnoll, Inc. (U.S.)
- Haworth Inc. (U.S.)
- Steelcase (U.S.)
- Kimball International, Inc. (U.S.)
- National Business Furniture (U.S.)
- OFS (U.S.)
- DIRTT (Canada)
- Teknion (Canada)
- Affordable Interior Systems, Inc. (U.S.)
- Safco Products Company (U.S.)
- Bush Furniture (U.S.)
- Bestar (Canada)
- Sauder Woodworking Co. (U.S.)
- Office Star Products (U.S.)
- Kinnarps AB (Sweden)
- Creative Wood (U.S.)
- Humanscale (U.S.)
- Virco Inc (U.S.)
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