Market Overview
Office
Furniture Market is projected to achieve a value of USD 82,042.6 Million in
2023, with a linear behavior in the market growth it is forecasted to achieve a
value of USD 158,877.6 Million by 2033 with a CAGR of 6.2% during the forecast
period 2023-2033.
Desks
are a central component of any office space. They provide a surface for
employees to work on, place their computers, and store essential documents and
office supplies. Common desk types include executive desks, computer desks,
standing desks, and modular desks.
Office
chairs are designed for comfort and ergonomic support to promote good posture
during extended periods of sitting. They can come in various styles, including
task chairs, executive chairs, ergonomic chairs, and conference chairs.
Storage
cabinets and filing cabinets are used to organize and store documents, files,
office supplies, and personal belongings. Filing cabinets often have drawers
designed to hold hanging file folders.
There Are Some Key Findings From Office Furniture Market
Consumer Surveys Conducted:
·
Consumers are
increasingly looking for office furniture that is comfortable, ergonomic, and
stylish. The survey found that 80% of consumers consider comfort and ergonomics
to be important factors when choosing office furniture. Additionally, 60% of
consumers said that style is also an important factor.
·
Consumers are willing to
pay a premium for high-quality office furniture. The survey found that 70% of
consumers are willing to pay more for office furniture that is made with high-quality
materials and is built to last.
·
Consumers are more likely
to purchase office furniture from online retailers than from brick-and-mortar
stores. The survey found that 60% of consumers prefer to purchase office
furniture online. This is likely due to the convenience and wider selection of
products that are available online.
Market Scope
Report Attributes |
Description |
Market Size in 2022 |
USD
82,042.6 Million |
Market Forecast in 2033 |
USD 158,877.6
Million |
CAGR % 2023-2033 |
6.2% |
Base Year |
2022 |
Historic Data |
2016-2022 |
Forecast Period |
2023-2033 |
Report USP |
Production,
Consumption, company share, company heatmap, company production capacity,
growth factors and more |
Growth Drivers |
Expansion of Commercial Real Estate
Sector Increased focus on office space optimization Growing focus on office renovation and
upgrades |
Segments Covered |
Type, price,
distribution channel, material and End-user |
Regional Scope |
North America, Europe, APAC, South
America and Middle East and Africa |
Country Scope |
U.S.; Canada;
U.K.; Germany; France; Italy; Spain; Benelux; Nordic Countries; Russia;
China; India; Japan; South Korea; Australia; Indonesia; Thailand; Mexico;
Brazil; Argentina; Saudi Arabia; UAE; Egypt; South Africa; Nigeria |
Key Companies |
Okamura Corporation, HNI Corporation, Herman
Miller Inc., Haworth Inc., Global Furniture Group, Steelcase Inc., Knoll Inc.,
Kimball International, 9to5 Seating, KOKUYO Co. Ltd, Haier Inc., Howden
Joinery Ltd., Inter IKEA Systems B.V., Godrej Interio, Bulthaup GmbH & Co
KG among others |
Market Dynamics
Increasing Demand For Ergonomic Furniture:
Employees are spending more time than ever at their desks, which has led to an
increased demand for ergonomic office furniture. Ergonomic furniture is
designed to reduce discomfort and fatigue, and improve employee productivity,
thereby promoting the growth of office furniture market.
Growing Popularity Of Flexible Workspaces:
The rise of flexible workspaces, such as coworking spaces and hot desking, is
driving the demand for modular and versatile office furniture. Modular
furniture can be easily rearranged to create different configurations, making
it ideal for flexible workspaces.
Rising Disposable Income:
As disposable incomes rise, consumers are more willing to spend money on
high-quality office furniture. This is especially true for millennials and Gen
Z workers, who place a high value on comfort and style.
Growing Awareness Of Sustainability:
Businesses and consumers are becoming increasingly aware of the importance of sustainability.
This is driving the demand for office furniture made from sustainable materials
and manufactured in sustainable ways.
High-quality
office furniture can be expensive, which can deter some businesses and
consumers from making purchases.
Office
furniture has a long product life cycle, which means that businesses and
consumers do not need to replace it as often. This can limit the growth of the
office furniture market.
The
office furniture market is highly competitive, with a large number of players
operating in the space. This can make it difficult for new entrants to gain
market share and for existing players to maintain their market positions.
Economic
downturns can lead to a decrease in demand for office furniture, as businesses
cut back on spending.
Market Type Analysis
The
office chairs segment is expected to account for around 40% of the market share
of the office furniture market by type during the forecast period, followed by
the office tables segment. The storage furniture segment is expected to be the
fastest-growing segment during the forecast period.
Office
chairs are an essential piece of office furniture, and they are in high demand
due to the increasing focus on employee ergonomics and comfort. Office tables
are also a popular piece of office furniture, and they are in high demand due
to the increasing need for flexible and collaborative workspaces. Storage
furniture is in high demand due to the need to store office supplies and other
items.
The
market share of the office furniture market by type may vary depending on the
region and the application. For example, the market share of the office chairs
segment is expected to be higher in developed countries, due to the higher
focus on employee ergonomics and comfort in these countries.
Market Material Analysis
Wood
is the most popular material for office furniture, accounting for nearly 48% of
the market share. It is known for its durability, strength, and classic look.
Wood furniture can also be refinished and reused over time, making it a
sustainable choice for many businesses.
Steel
is the second most popular material for office furniture, accounting for over a
quarter of the market share. Steel is known for its strength and versatility.
It can be used to create a wide range of office furniture, from desks and
chairs to storage cabinets and filing cabinets. Steel furniture is also
relatively low-maintenance and easy to clean, this ease of use is creating a
lucrative scope for the Office Furniture Market.
Other
materials used in office furniture include plastic, fabric, and glass. These
materials are often used in combination with wood and steel to create unique
and stylish office furniture. For example, plastic may be used to create
lightweight and affordable chairs, while fabric may be used to upholster chairs
and sofas. Glass may be used to create tabletops and office partitions.
Market End-Use Analysis
Enterprise
businesses account for the largest share of around 60% of the office furniture
market, followed by hospitals, schools, and other end-users. This is because
enterprise businesses have the largest budgets for office furniture and tend to
purchase large quantities of furniture.
Hospitals
and schools also have significant budgets for office furniture, but they
typically purchase different types of furniture than enterprise businesses. For
example, hospitals often purchase specialized furniture for patient rooms and
operating rooms. Schools often purchase furniture that is designed for children
and students.
Other
end-users of office furniture include government agencies, non-profit
organizations, and small businesses. These end-users typically have smaller
budgets for office furniture, but they still represent a significant portion of
the market.
Market Regional Analysis
The
Asia Pacific region has the largest share of the global office furniture
market, accounting for 35% of the market. This is due to factors such as the
rapid economic growth in the region and the increasing demand for office
furniture from businesses of all sizes.
North America is the second-largest market for office furniture, accounting for 30% of the global market. The North American market is mature and relatively saturated, but there is still some growth potential in the region.
Europe
is the third-largest region for office furniture market, accounting for 20% of
the global market. The European market is also relatively mature, but there is
some growth potential in Eastern Europe.
Latin
America and the Middle East and Africa are smaller markets for office furniture,
accounting for 10% and 5% of the global market, respectively. However, these
markets are expected to grow rapidly in the coming years due to economic growth
and urbanization.
Office Furniture - Competitive Analysis
The
global office furniture market is highly fragmented, with a number of large and
small companies competing for market share. The top five companies in the
market account for around 30% of the market share, while the remaining 70% of
the market is shared by a number of smaller companies. Steelcase is the leading
office furniture company in the world, with a market share of 10%. Steelcase is
known for its high-quality, ergonomic furniture. Herman Miller is the
second-largest office furniture company in the world, with a market share of 8%.
Herman Miller is known for its innovative and stylish furniture.
Haworth,
HNI Corporation, and Okamura Corporation are also major players in the global
office furniture market. These companies offer a wide range of office furniture
products, from desks and chairs to storage cabinets and filing cabinets.
Nilkamal
is the leading office furniture company in India, with a market share of 4%.
Kimball International and Knoll are also major players in the Indian office
furniture market.
Humanscale
and Global Furniture Group are two of the leading companies in the ergonomic
office furniture market. These companies offer a wide range of ergonomic
products, such as chairs, desks, and monitor mounts.
By Type
·
Office Chairs
·
Office Tables
·
Storage Furniture
·
Office Systems Furniture
·
Reception Furniture
·
Others
By Material
·
Wood
·
Steel
·
Others
By Price
·
Mass
·
Premium
By Distribution Channel
·
Supermarket/Hypermarket
·
Specialty Stores
·
Online Stores
·
Others
By End-Use
·
Enterprise
·
Hospitals
·
Schools
·
Others
1. Global Office Furniture Market Introduction and Market Overview
1.1.
Objectives of the Study
1.2.
Global Office Furniture Market
Scope and Market Estimation
1.2.1.Global Office
Furniture Overall Market Size, Revenue (US$ Mn) and Volume (Units), Market CAGR
(%), Market forecast (2023 - 2033)
1.2.2.Global Office
Furniture Market Revenue Share (%) and Growth Rate (Y-o-Y) from 2019 - 2033
1.3.
Market Segmentation
1.3.1.Type of
Global Office Furniture Market
1.3.2.Price of
Global Office Furniture Market
1.3.3.Distribution
Channel of Global Office Furniture Market
1.3.4.Material
of Global Office Furniture Market
1.3.5.End-use
of Global Office Furniture Market
1.3.6.Region
of Global Office Furniture Market
2. Executive Summary
3. Market Factor Analysis
3.1. Global Office Furniture
Market Application Trends under COVID-19 Outbreak
3.1.1.Global
COVID-19 Status Overview
3.1.2.Influence
of COVID-19 Outbreak on Global Office Furniture Market Application Development
3.2. Market Dynamics
3.2.1.Drivers
3.2.2.Limitations
3.2.3.Opportunities
3.2.4.Impact
Analysis of Drivers and Restraints
3.3. Value Chain/ Ecosystem
Analysis
3.3.1.Manufacturers
/ Vendors
3.3.2.Distributors
3.3.3.Buyers /
End-users
3.3.4.Forward
Integration & Backward Integration of Key Stakeholders
3.4. Global Office Furniture
Market - Pricing Trends Analysis & Average Selling Prices (ASPs)
3.5. Porter’s Five Forces Analysis
3.5.1.Bargaining
Power of Suppliers
3.5.2.Bargaining
Power of Buyers
3.5.3.Threat
of Substitutes
3.5.4.Threat
of New Entrants
3.5.5.Competitive
Rivalry
3.6. PEST Analysis
3.6.1.Political
Factors
3.6.2.Economic
Factors
3.6.3.Social
Factors
3.6.4.Technological
Factors
3.7. Impact of Russia Ukraine
War on Office Furniture Market
3.8. Impact of Economic
Downturn on Office Furniture Market
3.9. Office Furniture Production
Capacity, by Major Countries
3.10. Market Investment Opportunity
Analysis (Top Investment Pockets)
4. Global Office Furniture
Market Estimates & Forecast Trend Analysis, by Type
4.1.
Global Office Furniture Market
Revenue (US$ Mn) and Volume (Units) Estimates and Forecasts, by Type, 2019 to 2033
4.1.1.Office
Chairs
4.1.2.Office
Tables
4.1.3.Storage
Furniture
4.1.4.Office
Systems Furniture
4.1.5.Reception
Furniture
4.1.6.Others
5. Global Office Furniture
Market Estimates & Forecast Trend Analysis, by
Material
5.1.
Global Office Furniture Market
Revenue (US$ Mn) and Volume (Units) Estimates and Forecasts, by Material, 2019
to 2033
5.1.1.Wood
5.1.2.Steel
5.1.3.Others
6. Global Office Furniture
Market Estimates & Forecast Trend Analysis, by
Price
6.1.
Global Office Furniture Market
Revenue (US$ Mn) and Volume (Units) Estimates and Forecasts, by Price, 2019 to 2033
6.1.1.Mass
6.1.2.Premium
7. Global Office Furniture
Market Estimates & Forecast Trend Analysis, by Distribution
Channel
7.1.
Global Office Furniture Market
Revenue (US$ Mn) and Volume (Units) Estimates and Forecasts, by Distribution
Channel, 2019 to 2033
7.1.1.Supermarket/Hypermarket
7.1.2.Specialty
Stores
7.1.3.Online
Stores
7.1.4.Others
8. Global Office Furniture
Market Estimates & Forecast Trend Analysis, by End-use
8.1.
Global Office Furniture Market
Revenue (US$ Mn) and Volume (Units) Estimates and Forecasts, by End-use, 2019
to 2033
8.1.1.Enterprise
8.1.2.Hospitals
8.1.3.Schools
8.1.4.Others
9. Global Office Furniture
Market Estimates & Forecast Trend Analysis, by
Region
9.1.
Global Office Furniture Market Revenue
(US$ Mn) and Volume (Units) Estimates and Forecasts, by Region, 2019 to 2033
9.1.1.North
America
9.1.2.Europe
9.1.3.Asia
Pacific
9.1.4.Middle East & Africa
9.1.5.South
America
10. North America Office Furniture Market: Estimates
& Forecast Trend Analysis
10.1. North America Office Furniture Market Assessments & Key Findings
10.1.1.
Office Furniture Market
Introduction
10.1.2.
Office Furniture Market Size Estimates
and Forecast (US$ Million & Units) (2019 – 2033)
10.1.2.1.
By Type
10.1.2.2.
By Material
10.1.2.3.
By Price
10.1.2.4.
By Distribution Channel
10.1.2.5.
By End-use
10.1.2.6.
By Country
10.1.2.6.1. The U.S.
10.1.2.6.2. Canada
10.1.2.6.3. Mexico
11. Europe Office Furniture Market:
Estimates & Forecast Trend Analysis
11.1. Europe Office Furniture Market Assessments & Key Findings
11.1.1.
Office Furniture Market
Introduction
11.1.2.
Office Furniture Market Size Estimates
and Forecast (US$ Million & Units) (2019 – 2033)
11.1.2.1.
By Type
11.1.2.2.
By Material
11.1.2.3.
By Price
11.1.2.4.
By Distribution Channel
11.1.2.5.
By End-use
11.1.2.6.
By Country
11.1.2.6.1. Italy
11.1.2.6.2. Germany
11.1.2.6.3. U.K.
11.1.2.6.4. France
11.1.2.6.5. Spain
11.1.2.6.6. Rest of Europe
12. Asia Pacific Office Furniture Market:
Estimates & Forecast Trend Analysis
12.1. Asia Pacific Market Assessments & Key Findings
12.1.1.
Office Furniture Market
Introduction
12.1.2.
Office Furniture Market Size and
Volume Estimates and Forecast (US$ Million & Units) (2019 – 2033)
12.1.2.1.
By Type
12.1.2.2.
By Material
12.1.2.3.
By Price
12.1.2.4.
By Distribution Channel
12.1.2.5.
By End-use
12.1.2.6.
By Country
12.1.2.6.1. China
12.1.2.6.2. Japan
12.1.2.6.3. India
12.1.2.6.4. Australia
12.1.2.6.5. South Korea
12.1.2.6.6. ASEAN
12.1.2.6.7. Rest of Asia Pacific
13. Middle East & Africa Office Furniture Market: Estimates & Forecast Trend Analysis
13.1. Middle East & Africa Market Assessments & Key Findings
13.1.1.
Office Furniture Market
Introduction
13.1.2.
Office Furniture Market Size
and Volume Estimates and Forecast (US$ Million & Units) (2019 – 2033)
13.1.2.1.
By Type
13.1.2.2.
By Material
13.1.2.3.
By Price
13.1.2.4.
By Distribution Channel
13.1.2.5.
By End-use
13.1.2.6.
By Country
13.1.2.6.1. U.A.E.
13.1.2.6.2. Saudi Arabia
13.1.2.6.3. Egypt
13.1.2.6.4. South Africa
13.1.2.6.5. Rest of Middle East & Africa
14. South America Office Furniture Market:
Estimates & Forecast Trend Analysis
14.1. South America Market Assessments & Key Findings
14.1.1.
Office Furniture Market
Introduction
14.1.2.
Office Furniture Market Size and
Volume Estimates and Forecast (US$ Million & Units) (2019 – 2033)
14.1.2.1.
By Type
14.1.2.2.
By Material
14.1.2.3.
By Price
14.1.2.4.
By Distribution Channel
14.1.2.5.
By End-use
14.1.2.6.
By Country
14.1.2.6.1. Brazil
14.1.2.6.2. Argentina
14.1.2.6.3. Colombia
14.1.2.6.4. Rest of South America
15.
Competition Landscape
15.1. Office Furniture Market Competition Matrix & Benchmarking, by
Leading Players / Innovators / Emerging Players / New Entrants
15.2. Office Furniture Market Competition Regional Intensity Map Analysis,
By Geographies Served
15.3. Office Furniture Market Concentration & Company Market Shares
(%) Analysis, 2022
16.
Company Profiles
16.1.
Okamura
Corporation
16.1.1.
Company Overview & Key
Stats
16.1.2.
Financial Performance &
KPIs
16.1.3.
Product Portfolio
16.1.4.
Business Strategy & Recent
Developments
*
Similar details would be provided for all the players mentioned below
16.2.
HNI
Corporation
16.3.
Herman
Miller Inc.
16.4.
Haworth
Inc.
16.5.
Global
Furniture Group
16.6.
Steelcase
Inc.
16.7.
Knoll Inc.
16.8.
Kimball International
16.9.
9to5
Seating
16.10.
KOKUYO Co.
Ltd
16.11.
Haier Inc.
16.12.
Howden
Joinery Ltd
16.13.
Inter IKEA
Systems B.V.
16.14.
Godrej
Interio
16.15.
Bulthaup
GmbH & Co KG
16.16.
Others**
17.
Research Methodology
17.1.
External Power
Outputs / Databases
17.2.
Internal
Proprietary Database
17.3.
Primary
Research
17.4.
Secondary Research
17.5.
Assumptions
17.6.
Limitations
17.7.
Report
FAQs
18. Research Findings & Conclusion
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Global Office Furniture market was valued at USD 82,042.6 Million in 2022 and is estimated to reach value of 158,877.6 million by 2033.
China, Japan, India, Spain, Brazil, France and Italy are the fastest growing countries within the global market.
Steelcase, Herman Miller, and Haworth are the top 3 companies in the market.
Growing popularity of flexible workspaces is propelling the market growth.
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