Office Furniture Market is Likely to Increase at a Significantly High CAGR during Forecast Period 2031 | Okamura Corp., HNI Corp., Herman Miller Inc., Haworth Inc.

The global office furniture market is anticipated to grow at a considerable CAGR of 4.9% during the forecast period. The growth of the office furniture market is primarily attributed to the increasing demand for office furniture to create a supportive workplace owing to the growing business activities across sectors and the development of commercial workplaces. Based on data from the US Census Bureau's Business Formation Statistics, nearly 5.4 million applications were filed to form new businesses in 2021. There were roughly 1.9 million more business applications in 2021, a 53% increase from 2019. The top five most significant percentage increases were in transportation and warehousing; retail trade; accommodation and food services; administrative and support; and other services (a general category including activities such as personal care services and laundry services).

However, the growing work-from-home culture is anticipated to restrain the growth of the market and is creating a new opportunity for players to come up with new and advanced solutions to provide sustainable furniture variants with additional features to minimize occupying space in-home setup and uplift workforce engagement to promote colleague social interaction. For instance, in November 2020, Ori, the provider of multifunctional, robotic-powered space-saving solutions, debuted a brand-new product, Pocket Office, a transformable home office space solution. The Pocket Office allows users to transform any room into a dedicated workspace with a button. Featuring an entertainment center on the outside, the Pocket Office opens to reveal a natural, textured workstation that evokes comfort, sophistication, and warmth. Designed with maximum productivity and flexibility in mind, the interior boasts two desk options - one for standing and one for sitting - as well as storage and power sources, and room for a standard-size office chair and extra monitors. When a user is finished with work for the day, the Pocket Office closes, transforming into a thin entertainment center, allowing users to create mental and emotional separation from the day's work.

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Market Coverage

• The market number available for - 2023-2030

• Base year- 2023

• Forecast period- 2024-2030

Segment Covered-

· By Product Type

· By Distribution Channel

Regions Covered-

· North America

· Europe

· Asia-Pacific

· Rest of the World

• Competitive Landscape- including Okamura Corp., HNI Corp., Herman Miller Inc., Haworth Inc., Global Furniture Group, and Steelcase Inc., and others.

Office Furniture Market Report Segment

By Product Type

• Seating

• Modular Systems

• Desks & Tables

• Others

By Distribution Channel

• Offline

• Online

A full Report of Office Furniture Market is Available @ https://www.omrglobal.com/industry-reports/office-furniture-market

Office Furniture Market Report Segment by Region

North America

· United States

· Canada

Europe

· UK

· Germany

· Spain

· France

· Italy

· Rest of Europe

Asia-Pacific

· India

· China

· Japan

· South Korea

· Rest of APAC

Rest of the World

• Latin America

• Middle East and Africa

Company Profiles

• Okamura Corp.

• HNI Corp.

• Herman Miller Inc.

• Haworth Inc.

• Global Furniture Group

• Steelcase Inc.

• Knoll Inc.

• Kimball International Inc.

• 9to5 Seating LLC

• KOKUYO CO., LTD.

• Meridian Office Furniture

• Berco Designs

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