Press release
Office Furniture Market Ongoing Industry Trends and Recent News and Developments | Key Players like Herman Miller Inc., Inter IKEA Group, Okamura Corporation, HNI Corporation, Knoll, Inc., Steelcase Inc., Haworth Inc., Kokuyo Co Ltd.
The Thrust on Real Estate and Office Construction Around the World are Likely to Drive the Global Office Furniture Market at 9.1% CAGR during 2019 & 2024.
Global office furniture market accounted for USD 58,135.9 million in 2018 and is estimated to reach USD 95,274.2 million in 2024, registering a compound annual growth rate (CAGR) of 9.1% between 2019 and 2024.
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Rise in number of offices worldwide
According to the International Labor Organization, world economic growth increased by 3.6% in 2017 as compared to 3.2% in 2016. This growth also marked decrease in unemployment across the globe. Positive GDP growth figures of developed and developing regions across the globe is believed to positively impact the growth of the market. Further, new employment opportunities in developing nations is believed to escalate the growth of the market. With increasing number of employed people across the globe, the demand for new offices is also increasing.
Launch of Innovative Office Furniture
Rapid introduction of innovative and advanced office furniture will intensify the growth of the market in the upcoming years. Key vendors are offering advanced & innovative designed furniture which are healthier and more comfortable. This factor is bolstering the growth of global furniture market across all regions. Consumers such as enterprises and others are preferring modern and modular office furniture’s to improve the productivity which bodes well for the growth of the market.
Rise in Commercial Space Construction
According to U.S. Census Bureau, residential office construction in U.S. grew by 3.4% by Nov. 2017 as compared to -2.8% in Dec. 2016. Also, non-residential office construction spending witnesses a growth of 4.2% in 2017. Further, establishment of new office spaces across all major regions is expected to be the key factor behind the growth of office furniture market during the forecast period.
Barriers in Market
The cost of raw materials used in manufacturing of furniture remains highly volatile and fluctuating with time. This fluctuation in raw material prices may obstruct the growth of office furniture market in future. The cost of raw materials used in manufacturing of furniture remains highly volatile and fluctuating with time. This fluctuation in raw material prices may obstruct the growth of office furniture market in future.
Consumers with low spending budget are looking forward to adopting every possible cost-effective furnishing solution such as online rental and second-hand furniture. Further, this rising trend of furniture rental and adoption of old furniture are reducing the demand for new furniture. Further, decline in demand for new furniture is likely to hinder the growth of market over the forecast period.
Advanced office furniture such as tech-charging furniture and multi-touch tables are equipped with extreme high cost. Further, high cost of advanced office furniture is anticipated to limit the growth of market over the forecast period. Further, economic challenges such as high cost of transportation, raw material price fluctuation and recession are some of the key challenges which are obstructing the growth of global office furniture market over the forecast period.
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Table of Content
Research Methodology
Market Definition and List of Abbreviations
1. Executive Summary
2. Growth Drivers & Issues in Global Office Furniture Market
3. Global Office Furniture Market Trends
4. Opportunities in Global Office Furniture Market
5. Recent Industry Activities, 2017
6. Porter's Five Forces Analysis
7. Market Value Chain and Supply Chain Analysis
8. Products Average Price Analysis, By Country
9. Global Office Furniture Market Value (USD Million), 2017-2023
10. Global Office Furniture Market Segmentation Analysis, By Product
10.1. Introduction
10.2. Market Attractiveness, By Product
10.3. BPS Analysis, By Product
10.4. Seating Market Value (USD Million) Forecast & Y-o-Y Growth Analysis, 2017-2023
10.4.1. Office Chairs Market Value (USD Million) Forecast & Y-o-Y Growth Analysis, 2017-2023
10.4.2. Guest Chairs Market Value (USD Million) Forecast & Y-o-Y Growth Analysis, 2017-2023
10.4.3. Stools Market Value (USD Million) Forecast & Y-o-Y Growth Analysis, 2017-2023
10.4.4. Sofa Market Value (USD Million) Forecast & Y-o-Y Growth Analysis, 2017-2023
10.4.5. Others Market Value (USD Million) Forecast & Y-o-Y Growth Analysis, 2017-2023
10.5. Storage Unit and Files Market Value (USD Million) Forecast & Y-o-Y Growth Analysis, 2017-2023
10.5.1. Bins & Shelves Market Value (USD Million) Forecast & Y-o-Y Growth Analysis, 2017-2023
10.5.2. Cabinets Market Value (USD Million) Forecast & Y-o-Y Growth Analysis, 2017-2023
10.5.3. Others Market Value (USD Million) Forecast & Y-o-Y Growth Analysis, 2017-2023
10.6. Workstation Market Value (USD Million) Forecast & Y-o-Y Growth Analysis, 2017-2023
10.6.1. Individual Workstation Market Value (USD Million) Forecast & Y-o-Y Growth Analysis, 2017-2023
10.6.2. Collaborative Workstation Market Value (USD Million) Forecast & Y-o-Y Growth Analysis, 2017-2023
10.6.3. Others Market Value (USD Million) Forecast & Y-o-Y Growth Analysis, 2017-2023
10.7. Tables Market Value (USD Million) Forecast & Y-o-Y Growth Analysis, 2017-2023
10.7.1. Conference Tables Market Value (USD Million) Forecast & Y-o-Y Growth Analysis, 2017-2023
10.7.2. Dining Tables Market Value (USD Million) Forecast & Y-o-Y Growth Analysis, 2017-2023
10.7.3. Occasional Tables Market Value (USD Million) Forecast & Y-o-Y Growth Analysis, 2017-2023
10.7.4. Others Market Value (USD Million) Forecast & Y-o-Y Growth Analysis, 2017-2023
10.8. Accessories Market Value (USD Million) Forecast & Y-o-Y Growth Analysis, 2017-2023
11. Global Office Furniture Market Segmentation Analysis, By Price Range
11.1. Introduction
11.2. Market Attractiveness, By Price Range
11.3. BPS Analysis, By Price Range
11.4. Premium Market Value (USD Million) Forecast & Y-o-Y Growth Analysis, 2017-2023
11.5. Medium Market Value (USD Million) Forecast & Y-o-Y Growth Analysis, 2017-2023
11.6. Economy Market Value (USD Million) Forecast & Y-o-Y Growth Analysis, 2017-2023
12. Global Office Furniture Market Segmentation Analysis, By Distribution Channel
12.1. Introduction
12.2. Market Attractiveness, By Distribution Channel
12.3. BPS Analysis, By Distribution Channel
12.4. Online Stores Market Value (USD Million) Forecast & Y-o-Y Growth Analysis, 2017-2023
12.5. Offline Stores Market Value (USD Million) Forecast & Y-o-Y Growth Analysis, 2017-2023
13. Geographical Analysis
13.1. Introduction
13.2. North America Market Value (USD Million) & Volume (MT) Forecast, 2017-2023
13.2.1. By Product
13.2.1.1. Introduction
13.2.1.2. Market Attractiveness, By Product
13.2.1.3. BPS Analysis, By Product
13.2.1.4. Seating Market Value (USD Million) Forecast & Y-o-Y Growth Analysis, 2017-2023
13.2.1.4.1. Office Chairs Market Value (USD Million) Forecast & Y-o-Y Growth Analysis, 2017-2023
13.2.1.4.2. Guest Chairs Market Value (USD Million) Forecast & Y-o-Y Growth Analysis, 2017-2023
13.2.1.4.3. Stools Market Value (USD Million) Forecast & Y-o-Y Growth Analysis, 2017-2023
13.2.1.4.4. Sofa Market Value (USD Million) Forecast & Y-o-Y Growth Analysis, 2017-2023
13.2.1.4.5. Others Market Value (USD Million) Forecast & Y-o-Y Growth Analysis, 2017-2023
13.2.1.5. Storage Unit and Files Market Value (USD Million) Forecast & Y-o-Y Growth Analysis, 2017-2023
13.2.1.5.1. Bins & Shelves Market Value (USD Million) Forecast & Y-o-Y Growth Analysis, 2017-2023
13.2.1.5.2. Cabinets Market Value (USD Million) Forecast & Y-o-Y Growth Analysis, 2017-2023
13.2.1.5.3. Others Market Value (USD Million) Forecast & Y-o-Y Growth Analysis, 2017-2023
13.2.1.6. Workstation Market Value (USD Million) Forecast & Y-o-Y Growth Analysis, 2017-2023
13.2.1.6.1. Individual Workstation Market Value (USD Million) Forecast & Y-o-Y Growth Analysis, 2017-2023
13.2.1.6.2. Collaborative Workstation Market Value (USD Million) Forecast & Y-o-Y Growth Analysis, 2017-2023
13.2.1.6.3. Others Market Value (USD Million) Forecast & Y-o-Y Growth Analysis, 2017-2023
13.2.1.7. Tables Market Value (USD Million) Forecast & Y-o-Y Growth Analysis, 2017-2023
13.2.1.7.1. Conference Tables Market Value (USD Million) Forecast & Y-o-Y Growth Analysis, 2017-2023
13.2.1.7.2. Dining Tables Market Value (USD Million) Forecast & Y-o-Y Growth Analysis, 2017-2023
13.2.1.7.3. Occasional Tables Market Value (USD Million) Forecast & Y-o-Y Growth Analysis, 2017-2023
13.2.1.7.4. Others Market Value (USD Million) Forecast & Y-o-Y Growth Analysis, 2017-2023
13.2.1.8. Accessories Market Value (USD Million) Forecast & Y-o-Y Growth Analysis, 2017-2023
13.2.2. By Price Range
13.2.2.1. Introduction
13.2.2.2. Market Attractiveness, By Price Range
13.2.2.3. BPS Analysis, By Price Range
13.2.2.4. Premium Market Value (USD Million) Forecast & Y-o-Y Growth Analysis, 2017-2023
13.2.2.5. Medium Market Value (USD Million) Forecast & Y-o-Y Growth Analysis, 2017-2023
13.2.2.6. Economy Market Value (USD Million) Forecast & Y-o-Y Growth Analysis, 2017-2023
13.2.3. By Distribution Channel
13.2.3.1. Introduction
13.2.3.2. Market Attractiveness, By Distribution Channel
13.2.3.3. BPS Analysis, By Distribution Channel
13.2.3.4. Online Stores Market Value (USD Million) Forecast & Y-o-Y Growth Analysis, 2017-2023
13.2.3.5. Offline Stores Market Value (USD Million) Forecast & Y-o-Y Growth Analysis, 2017-2023
13.2.4. By Country
13.2.4.1. Market Attractiveness, By Country
13.2.4.2. BPS Analysis, By Country
13.2.4.3. U.S. Market Value (USD Million) & Volume (MT) Forecast, 2017-2023
13.2.4.4. Canada Market Value (USD Million) & Volume (MT) Forecast, 2017-2023
13.3. Europe Market Value (USD Million) & Volume (MT) Forecast, 2017-2023
13.3.1. By Product
13.3.1.1. Introduction
13.3.1.2. Market Attractiveness, By Product
13.3.1.3. BPS Analysis, By Product
13.3.1.4. Seating Market Value (USD Million) Forecast & Y-o-Y Growth Analysis, 2017-2023
13.3.1.4.1. Office Chairs Market Value (USD Million) Forecast & Y-o-Y Growth Analysis, 2017-2023
13.3.1.4.2. Guest Chairs Market Value (USD Million) Forecast & Y-o-Y Growth Analysis, 2017-2023
13.3.1.4.3. Stools Market Value (USD Million) Forecast & Y-o-Y Growth Analysis, 2017-2023
13.3.1.4.4. Sofa Market Value (USD Million) Forecast & Y-o-Y Growth Analysis, 2017-2023
13.3.1.4.5. Others Market Value (USD Million) Forecast & Y-o-Y Growth Analysis, 2017-2023
13.3.1.5. Storage Unit and Files Market Value (USD Million) Forecast & Y-o-Y Growth Analysis, 2017-2023
13.3.1.5.1. Bins & Shelves Market Value (USD Million) Forecast & Y-o-Y Growth Analysis, 2017-2023
13.3.1.5.2. Cabinets Market Value (USD Million) Forecast & Y-o-Y Growth Analysis, 2017-2023
13.3.1.5.3. Others Market Value (USD Million) Forecast & Y-o-Y Growth Analysis, 2017-2023
13.3.1.6. Workstation Market Value (USD Million) Forecast & Y-o-Y Growth Analysis, 2017-2023
13.3.1.6.1. Individual Workstation Market Value (USD Million) Forecast & Y-o-Y Growth Analysis, 2017-2023
13.3.1.6.2. Collaborative Workstation Market Value (USD Million) Forecast & Y-o-Y Growth Analysis, 2017-2023
13.3.1.6.3. Others Market Value (USD Million) Forecast & Y-o-Y Growth Analysis, 2017-2023
13.3.1.7. Tables Market Value (USD Million) Forecast & Y-o-Y Growth Analysis, 2017-2023
13.3.1.7.1. Conference Tables Market Value (USD Million) Forecast & Y-o-Y Growth Analysis, 2017-2023
13.3.1.7.2. Dining Tables Market Value (USD Million) Forecast & Y-o-Y Growth Analysis, 2017-2023
13.3.1.7.3. Occasional Tables Market Value (USD Million) Forecast & Y-o-Y Growth Analysis, 2017-2023
13.3.1.7.4. Others Market Value (USD Million) Forecast & Y-o-Y Growth Analysis, 2017-2023
13.3.1.8. Accessories Market Value (USD Million) Forecast & Y-o-Y Growth Analysis, 2017-2023
13.3.2. By Price Range
13.3.2.1. Introduction
13.3.2.2. Market Attractiveness, By Price Range
13.3.2.3. BPS Analysis, By Price Range
13.3.2.4. Premium Market Value (USD Million) Forecast & Y-o-Y Growth Analysis, 2017-2023
13.3.2.5. Medium Market Value (USD Million) Forecast & Y-o-Y Growth Analysis, 2017-2023
13.3.2.6. Economy Market Value (USD Million) Forecast & Y-o-Y Growth Analysis, 2017-2023
13.3.3. By Distribution Channel
13.3.3.1. Introduction
13.3.3.2. Market Attractiveness, By Distribution Channel
13.3.3.3. BPS Analysis, By Distribution Channel
13.3.3.4. Online Stores Market Value (USD Million) Forecast & Y-o-Y Growth Analysis, 2017-2023
13.3.3.5. Offline Stores Market Value (USD Million) Forecast & Y-o-Y Growth Analysis, 2017-2023
13.3.4. By Country
13.3.4.1. Market Attractiveness, By Country
13.3.4.2. BPS Analysis, By Country
13.3.4.3. Germany Market Value (USD Million) & Volume (MT) Forecast, 2017-2023
13.3.4.4. United Kingdom Market Value (USD Million) & Volume (MT) Forecast, 2017-2023
13.3.4.5. France Market Value (USD Million) & Volume (MT) Forecast, 2017-2023
13.3.4.6. Italy Market Value (USD Million) & Volume (MT) Forecast, 2017-2023
13.3.4.7. Spain Market Value (USD Million) & Volume (MT) Forecast, 2017-2023
13.3.4.8. Russia Market Value (USD Million) & Volume (MT) Forecast, 2017-2023
13.3.4.9. Rest of Europe Market Value (USD Million) & Volume (MT) Forecast, 2017-2023
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