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In 2022, the global market for office furniture was worth $44.29 billion. By 2030, that number is expected to rise to $80.69 billion, representing a CAGR of 9.48% from its 2023 level of $48.69 billion.
Workplaces or business environments view furniture as their centerpiece pieces, such as a chair, tables, and others, that are transportable and utilized to assist diverse human activities at the office. Offices, businesses, and shared work spaces all benefit from properly arranged furniture to create an atmosphere that is conducive to productivity, safety, and comfort for all personnel. Furthermore, furniture is critical to the efficiency of workers.
The office furniture market includes both large and little pieces of equipment that shape the vibe of a workplace. Chairs, tables, and shelving units are the most in-demand products in an office setting. Depending on the specifications, they can be made from a variety of materials, including wood, steel, and others. The products can be brought through online and offline sales channels per the consumer's requirement of quantity and practicality.
Industrialization and economic development are causing a change in the infrastructure of growing economies like India. For instance, in 2020 the average person in Asia and the Pacific made US$10,368, a rise of 3.8 percent from the previous year, as reported by the World Bank Group. Because of their potential for profit and appreciation, office buildings are increasingly seen as an investment. Additionally, as the private sector expands, more and more office space is becoming available for MSMEs. Businesses aren't just concentrating on building shiny new workplaces; they're also investing heavily in updating and modernizing their existing workplaces. New office furniture is an expense that must be made while renovating offices. The price of wood, plastic, metal, and other raw materials used in the furniture industry is unpredictable. In addition, high-tech pieces of office furniture, including charging desks and multi-touch tables, can be quite pricey. Over the forecast period, the expansion of the global office furniture market is anticipated to be hampered by the aforementioned factors.
Lockdowns, border closures, and other suspensions of non-essential commercial operations were among the measures taken by the government in response to the COVID-19 epidemic. These limits and regulations further resulted in generating severe disruption in the production, supply chain, and other operations during 2021. It also had a major influence on global demand for storage units, tables, and others, leading to a decrease in income generation, as many organizations, including IT service providers, were forced to have employees work from home for an extended period.
The exponential global spread of the COVID-19 virus coincided with the rise of the work-from-home trend. More and more businesses are embracing the remote work arrangement. The industry and supply chain were also severely damaged by the outbreak. The disruption to operations was more severe the longer the shutdown lasted. Since most of the market's revenue comes from multinational corporations and startups, demand has fallen dramatically. Corporate profitability, non-residential fixed investment, commercial building, and other macroeconomic factors all impact the demand for office furniture. Demand variables were severely impacted by the worldwide economic slowdown brought on by the COVID-19 pandemic.
In co-working spaces, individuals or teams can come together in a non-threatening environment to focus on their own work. Workspace amenities, such as Wi-Fi, printers, and meeting rooms, are designed to mimic those found in private offices. The lack of a long-term lease is one of the main draws for entrepreneurs, freelancers, and others to co-working spaces.
The rising startup ecosystem and increasing number of freelancers around the world have led to a dramatic increase in the variety of furniture options available in co-working spaces in recent years. Workplaces are becoming more casual as a result of trends like the open office and coworking facilities. Open offices, niche facilities for certain industries, and business incubators are just few of the many types of shared office environments available.
Report Coverage
Global Office Furniture research report categorizes the market for global based on various segments and regions, forecasts revenue growth, and analyzes trends in each submarket. Global Office Furniture report analyses the key growth drivers, opportunities, and challenges influencing the global market. Recent market developments and Office Furniture competitive strategies such as expansion, product launch and development, partnership, merger, and acquisition have been included to draw the competitive landscape in the market. The report strategically identifies and profiles the key Office Furniture market players and analyses their core competencies in each global market sub-segments.
Key Points Covered in the Report
Competitive Environment:
The research provides an accurate study of the major organisations and companies operating in the global Office Furniture market, along with a comparative evaluation based on their product portfolios, corporate summaries, geographic reach, business plans, Office Furniture market shares in specific segments, and SWOT analyses. A detailed analysis of the firms' recent news and developments, such as product development, inventions, joint ventures, partnerships, mergers and acquisitions, strategic alliances, and other activities, is also included in the study. This makes it possible to assess the level of market competition as a whole.
List of Major Market Participants
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), and Interwood (India)
Primary Target Market
Market Segment:
This study forecasts global, regional, and country revenue from 2019 to 2030. INFINITIVE DATA EXPERT has segmented the global Office Furniture market based on the below-mentioned segments:
Global Office Furniture Market, By Product
Office Chairs
Office Tables
Storage Furniture
Office Systems Furniture
Reception Furniture
Other Product Types
Global Office Furniture market, By Material
Wood
Metal
Plastics
Others
Global Office Furniture Market, By Sales Channel
Retail Stores
Direct to Consumer
Manufacturer Stores
E-Commerce Stores
Discount Stores
Rental Stores
Other Sales Channels
Global Office Furniture market, Regional Analysis
Workplaces or business environments view furniture as their centerpiece pieces, such as a chair, tables, and others, that are transportable and utilized to assist diverse human activities at the office. Offices, businesses, and shared work spaces all benefit from properly arranged furniture to create an atmosphere that is conducive to productivity, safety, and comfort for all personnel. Furthermore, furniture is critical to the efficiency of workers.
The office furniture market includes both large and little pieces of equipment that shape the vibe of a workplace. Chairs, tables, and shelving units are the most in-demand products in an office setting. Depending on the specifications, they can be made from a variety of materials, including wood, steel, and others. The products can be brought through online and offline sales channels per the consumer's requirement of quantity and practicality.
Industrialization and economic development are causing a change in the infrastructure of growing economies like India. For instance, in 2020 the average person in Asia and the Pacific made US$10,368, a rise of 3.8 percent from the previous year, as reported by the World Bank Group. Because of their potential for profit and appreciation, office buildings are increasingly seen as an investment. Additionally, as the private sector expands, more and more office space is becoming available for MSMEs. Businesses aren't just concentrating on building shiny new workplaces; they're also investing heavily in updating and modernizing their existing workplaces. New office furniture is an expense that must be made while renovating offices. The price of wood, plastic, metal, and other raw materials used in the furniture industry is unpredictable. In addition, high-tech pieces of office furniture, including charging desks and multi-touch tables, can be quite pricey. Over the forecast period, the expansion of the global office furniture market is anticipated to be hampered by the aforementioned factors.
Lockdowns, border closures, and other suspensions of non-essential commercial operations were among the measures taken by the government in response to the COVID-19 epidemic. These limits and regulations further resulted in generating severe disruption in the production, supply chain, and other operations during 2021. It also had a major influence on global demand for storage units, tables, and others, leading to a decrease in income generation, as many organizations, including IT service providers, were forced to have employees work from home for an extended period.
The exponential global spread of the COVID-19 virus coincided with the rise of the work-from-home trend. More and more businesses are embracing the remote work arrangement. The industry and supply chain were also severely damaged by the outbreak. The disruption to operations was more severe the longer the shutdown lasted. Since most of the market's revenue comes from multinational corporations and startups, demand has fallen dramatically. Corporate profitability, non-residential fixed investment, commercial building, and other macroeconomic factors all impact the demand for office furniture. Demand variables were severely impacted by the worldwide economic slowdown brought on by the COVID-19 pandemic.
In co-working spaces, individuals or teams can come together in a non-threatening environment to focus on their own work. Workspace amenities, such as Wi-Fi, printers, and meeting rooms, are designed to mimic those found in private offices. The lack of a long-term lease is one of the main draws for entrepreneurs, freelancers, and others to co-working spaces.
The rising startup ecosystem and increasing number of freelancers around the world have led to a dramatic increase in the variety of furniture options available in co-working spaces in recent years. Workplaces are becoming more casual as a result of trends like the open office and coworking facilities. Open offices, niche facilities for certain industries, and business incubators are just few of the many types of shared office environments available.
Report Coverage
Global Office Furniture research report categorizes the market for global based on various segments and regions, forecasts revenue growth, and analyzes trends in each submarket. Global Office Furniture report analyses the key growth drivers, opportunities, and challenges influencing the global market. Recent market developments and Office Furniture competitive strategies such as expansion, product launch and development, partnership, merger, and acquisition have been included to draw the competitive landscape in the market. The report strategically identifies and profiles the key Office Furniture market players and analyses their core competencies in each global market sub-segments.
| REPORT ATTRIBUTES | DETAILS |
|---|---|
| Study Period | 2017-2030 |
| Base Year | 2022 |
| Forecast Period | 2022-2030 |
| Historical Period | 2017-2021 |
| Unit | Value (USD Billion) |
| Key Companies Profiled | 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), and Interwood (India) |
| Segments Covered | • By Product |
| Customization Scope | Free report customization (equivalent to up to 3 analyst working days) with purchase. Addition or alteration to country, regional & segment scope |
Key Points Covered in the Report
- Market Revenue of Office Furniture Market from 2021 to 2030.
- Market Forecast for Office Furniture Market from 2021 to 2030.
- Regional Market Share and Revenue from 2021 to 2030.
- Country Market share within region from 2021 to 2030.
- Key Type and Application Revenue and forecast.
- Company Market Share Analysis, Office Furniture competitive scenario, ranking, and detailed company
profiles. - Market driver, restraints, and detailed COVID-19 impact on Office Furniture
Market
Competitive Environment:
The research provides an accurate study of the major organisations and companies operating in the global Office Furniture market, along with a comparative evaluation based on their product portfolios, corporate summaries, geographic reach, business plans, Office Furniture market shares in specific segments, and SWOT analyses. A detailed analysis of the firms' recent news and developments, such as product development, inventions, joint ventures, partnerships, mergers and acquisitions, strategic alliances, and other activities, is also included in the study. This makes it possible to assess the level of market competition as a whole.
List of Major Market Participants
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), and Interwood (India)
Primary Target Market
- Market Players of Office Furniture
- Investors
- End-users
- Government Authorities
- Consulting And Research Firm
- Venture capitalists
- Third-party knowledge providers
- Value-Added Resellers (VARs)
Market Segment:
This study forecasts global, regional, and country revenue from 2019 to 2030. INFINITIVE DATA EXPERT has segmented the global Office Furniture market based on the below-mentioned segments:
Global Office Furniture Market, By Product
Office Chairs
Office Tables
Storage Furniture
Office Systems Furniture
Reception Furniture
Other Product Types
Global Office Furniture market, By Material
Wood
Metal
Plastics
Others
Global Office Furniture Market, By Sales Channel
Retail Stores
Direct to Consumer
Manufacturer Stores
E-Commerce Stores
Discount Stores
Rental Stores
Other Sales Channels
Global Office Furniture market, Regional Analysis
- Europe: Germany, Uk, France, Italy, Spain, Russia, Rest of Europe
- The Asia Pacific: China,Japan,India,South Korea,Australia,Rest of Asia Pacific
- South America: Brazil, Argentina, Rest of South America
- Middle East & Africa: UAE, Saudi Arabia, Qatar, South Africa, Rest of Middle East & Africa
About This Research
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