Global Office Furniture Market Size, Share, Trends, Growth and Forecast 2030
Office Furniture Market By Product type (office tables, office chairs, storage furniture, reception furniture, office systems furniture, and others), By Material(plastic, metal, wood, and others.),By Price range(high, medium, and low), By sales channel(e-commerce stores, direct to consumer, discount stores, manufacturer stores, retail stores, rental stores, and others) And By Region - Global And Regional Industry Overview, Market Intelligence, Comprehensive Analysis, Historical Data, And Forecasts 2023 - 2030
| Market Size in 2022 | Market Forecast in 2030 | CAGR (in %) | Base Year |
|---|---|---|---|
| USD 78.42 Billion | USD 125.88 Billion | 6.18% | 2022 |
Description
What is Office Furniture Market Size?
The global Office Furniture Market size was worth around USD 78.42 Billion in 2022 and is predicted to grow to around USD 125.88 Billion by 2030 with a compound annual growth rate (CAGR) of roughly 6.18% between 2023 and 2030.
Office furniture is pretty much what shapes office spaces. The furniture is a well-thought-out centerpiece of business or office space. Furniture used in office spaces such as chairs, desks, tables, filing cabinets, stools, credenzas, partitions, screens, etc. helps to organize the work properly. Office spaces are becoming modern and at the same time short office spaces are augmenting modern furniture options that can fulfill the organizational demand at low cost. The office furniture enhances the efficiency of the work, offers a better working environment, establishes brand creditability in the market, protects the documents, and aid in proper storage of files.
Global Office Furniture Market: Growth Factors
The global office furniture market is growing at a significant rate. The factors contributing to the growth of the market include the growing number of commercial projects in developing countries, growing preferences for modern ambiance, a growing number of small-scale companies, increasing need for modern movable furniture for startups, and rising need for separate work compartments owing to employees’ health safety. The number of small-scale companies is on the rise in developing countries, especially in the Asia Pacific region where increasing government initiatives support the growth of small-scale companies. Customer-centric companies are focusing on improving the office structure to offer better services to the clients which is another factor fueling the growth of the global office furniture market. Moreover, banking, retail, distributor offices, and other services sectors are experiencing a shift in business which is augmenting the demand for modern furniture. Furthermore, increasing urbanization and the growing number of office spaces around the world are expected to provide better growth opportunities for the global office furniture market over the forecast period. On the other hand, a restriction on wood cutting for furniture is the biggest challenge for the global office furniture market.
Current COVID 19 pandemic situations have severely affected the growth of the global office furniture market. The major factor causing the slow growth of the market is a recession in the construction industry. COVID 19 made a severe impact on the global economy, which has badly impacted the construction industry and ultimately affecting the demand for office furniture all over the world. Furthermore, disruption of the supply chain due to strict lockdowns imposed by several governments harmed the growth of the market. Strict lockdowns and restrictions on personnel movement not only hampered the manufacturing of furniture products but also created a shortage of distributors around the world.
Office Furniture Market: Report Scope
| Report Attributes | Report Details |
|---|---|
| Report Name | Office Furniture Market Size Report |
| Market Size in 2022 | USD 78.42 Billion |
| Market Forecast in 2030 | USD 125.88 Billion |
| Growth Rate | CAGR of 6.18% |
| Number of Pages | 188 |
| Forecast Units | Value (USD Billion), and Volume (Units) |
| Key Companies Covered | Haworth Inc, Global Furniture Group, KOKUYO Co., Ltd, Steelcase Inc, 9to5 Seating LLC, Inter IKEA Systems B.V., Itoki Corporation, Herman Miller, Inc, BERCO DESIGNS, AURORA Group, and UCHIDA YOKO GLOBAL LIMITED amongst others. |
| Segments Covered | By Product, By Material, By Price range, By Sales channel, and By region |
| Regions Covered | North America, Europe, Asia Pacific (APAC), Latin America, Middle East and Africa (MEA) |
| Countries Covered | North America: U.S and Canada Europe: Germany, Italy, Russia, U.K, Spain, France, Rest of Europe APAC: China, Australia, Japan, India, South Korea, South East Asia, Rest of Asia Pacific Latin America: Brazil, Argentina, Chile The Middle East And Africa: South Africa, GCC, Rest of MEA |
| Base Year | 2022 |
| Historical Year | 2017 - 2021 |
| Forecast Year | 2023 - 2030 |
| Customization Scope | Avail customized purchase options to meet your exact research needs. Request For Customization |
Global Office Furniture Market: Segmentation
The global office furniture market is bifurcated based on the product, material, price range, sales channel, and region.
Based on product, the global market is divided into office tables, office chairs, storage furniture, reception furniture, office systems furniture, and others. The material segment is bifurcated into plastic, metal, wood, and others.
Based on the price range, the global market is split into high, medium, and low.
Based on the sales channel, the global office furniture market is categorized into e-commerce stores, direct to consumer, discount stores, manufacturer stores, retail stores, rental stores, and others.
Global Office Furniture Market: Regional Analysis
The Asia Pacific is anticipated to hold the largest share in the global office furniture market. Factors that are contributing to the significant growth of the market in this region include rapid urbanization, growing government funding to small-scale companies, a growing number of startups, a rapidly growing construction sector, and the growing demand for modern furniture options. North America is estimated to be the second-highest market in the global market in terms of revenue. The office furniture market in North America is pretty mature. The rising trend of modern furniture is primarily augmenting the growth of the market in this region. Europe is expected to contribute significant revenue in the global office furniture market over the forecast period.
Global Office Furniture Market: Competitive Players
Some of the major players operating in the global office furniture market are
- Haworth Inc
- Global Furniture Group
- KOKUYO Co. Ltd
- Steelcase Inc
- 9to5 Seating LLC
- Inter IKEA Systems B.V.
- Itoki Corporation
- Herman Miller Inc
- BERCO DESIGNS
- AURORA Group
- UCHIDA YOKO GLOBAL LIMITED amongst others.
The global Office Furniture Market is segmented as follows:
By Product type
- Office tables
- Office chairs
- Storage furniture
- Reception furniture
- Office systems furniture
By Material
- Plastic
- Metal
- Wood
- Others
By sales channel
- E-commerce stores
- Direct to consumer
- Discount stores
- Manufacturer stores
- Retail stores
- Rental stores
- Others
By Region
- North America
- The U.S.
- Canada
- Mexico
- Europe
- France
- The UK
- Spain
- Germany
- Italy
- Rest of Europe
- Asia Pacific
- China
- Japan
- India
- Australia
- South Korea
- Rest of Asia Pacific
- The Middle East & Africa
- Saudi Arabia
- UAE
- Egypt
- Kuwait
- South Africa
- Rest of the Middle East & Africa
- Latin America
- Brazil
- Argentina
- Rest of Latin America
What Reports Provides
- Full in-depth analysis of the parent market
- Important changes in market dynamics
- Segmentation details of the market
- Former, on-going, and projected market analysis in terms of volume and value
- Assessment of niche industry developments
- Market share analysis
- Key strategies of major players
- Emerging segments and regional markets
- Testimonials to companies in order to fortify their foothold in the market.
Table Of Content
FrequentlyAsked Questions
Office furniture includes desks, chairs, and cabinets. It supports workplace comfort and productivity
The global Office Furniture market is expected to be driven by the commercial construction, workspace redesign, and remote work trends. Demand for ergonomic and modular furniture supports market growth.
According to study, the global Office Furniture market size was worth around USD 78.42 Billion in 2022 and is predicted to grow to around USD 125.88 Billion by 2030.
The global Office Furniture market is expected to grow at a Compound Annual Growth Rate (CAGR) of around CAGR 6.18% during the forecast period from 2023-2030.
The global Office Furniture industry is projected to be challenged by Challenges include cyclical demand tied to real estate and remote work trends.
The Opportunities include ergonomic furniture demand, office renovation, hybrid workspaces, and e-commerce sales will offer significant growth opportunities in the Office Furniture market.
Ergonomic and modular designs; sustainable materials; demand driven by hybrid and flexible workspaces are the emerging trends and innovations impacting the Office Furniture market.
The global Office Furniture market is expected to be led by APAC during the forecast period.
Some of the prominent players operating in the global Office Furniture market are; Haworth Inc, Global Furniture Group, KOKUYO Co., Ltd, Steelcase Inc, 9to5 Seating LLC, Inter IKEA Systems B.V., Itoki Corporation, Herman Miller, Inc, BERCO DESIGNS, AURORA Group, and UCHIDA YOKO GLOBAL LIMITED amongst others. and others.
The report explores crucial aspects of the Office Furniture market, including a detailed discussion of existing growth factors and restraints, while also browsing future growth opportunities and challenges that impact the market.
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