Office Chair Market Projecting US$ 23.09 Billion Value by 2033, with 5.1% CAGR

In 2023, the office chair market is expected to be valued at US$14.04 billion. By the end of 2033, the office chair market is expected to be valued US$ 23.09 billion, with a compound annual growth rate (CAGR) of 5.1%.

Employees in offices and industries can work with more comfort and freedom when they use office chairs. Creating an extensive range of multipurpose chairs is one of the major factors driving the growth of the global market in the upcoming years, according to major manufacturers.

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Competitive Landscape:

Leading office furniture companies are focused on enhancing product standards with changing preferences of customers. Major office furniture producers are following safety regulations to maintain quality control of innovative office interior products.

Furthermore, RTA (Ready to Assemble) furniture is also gaining popularity among consumers for better usage and convenience. The need for eco-friendly furniture is driving top office furniture providers to use green materials that reduce waste disposal, pollution, and environmental impact.

Key Trends:

Furniture offering features such as easy-to-install, multifunctional, and quick are witnessing high adoption in the office furniture market. This trend is driven by a high consumer preference for affordable furniture.

Smart furniture is witnessing a surge in adoption as it offers consumers posture-changing applications. For instance, office desks are equipped with controllers and sensors, where the employee can control various parameters such as temperature.

Major office furniture players are improving ergonomics as well as involving value-added and designs.

Key Companies Profiled:

• Knoll
• ANEW
• Steelcase
• ITOKI
• Haworth Inc.
• Herman Miller Inc.
• Global Furniture Group
• Okamura Corporation
• HNI Corporation
• Kimball International

Recent Developments:

Key office furniture players in the market are focusing on innovations and product developments to address customer requirements. Moreover, manufacturers are collaborating with other players to launch new products and stores to address consumers' demands.
For instance:

In June 2022, Miller Knoll Inc had collaborated with Studio 7.5 to introduce its new office chair collection. The design was introduced to reduce the gap.

In February 2022, Godrej and Boyce launched Move Up, an ergonomic office table through its business Godrej interior for individuals with a home office.

Another example is Steelcase signed which had signed a definitive agreement to acquire Halcon. This acquisition will help boost the portfolio of Steelcase wood products.

Drivers:

The office furniture market is expected to witness moderate growth during the forecast period and is expected to reach a valuation of US $ 98 Billion by 2033. Market growth is driven by the following factors:

• Co-working spaces are the places where working professionals assemble together in neutral spaces on different projects. Co-working spaces have witnessed a massive trend in the last few years. This has also significantly improved the landscape of the office furniture market.

• Rapid growth in ICT has led to the growth of the office furniture market. The ICT market requires better infrastructure and it includes two important components, IT application and engineering. Governments have been making significant investments

• Also, rise in growth of MSMEs (Micro, Small, and Medium Enterprises) leads to better infrastructure.
Read More: https://www.factmr.com/report/942/office-chair-market

Segmentation Landscape:

• By Product :
o Office Chairs
o Office Tables
o Storage Furniture
o Office System Furniture
o Reception Furniture
o Others
• By Sales Channel :
o Retail Stores
o Specialty Stores
o Online Stores
o Rental Stores
o Others
• By Region :
o North America
o Europe
o Asia Pacific
o Latin America
o Middle East & Africa

In conclusion, the Office Furniture Market is a dynamic and evolving industry driven by factors such as technological advancements, changing work environments, and a growing emphasis on employee well-being and productivity. As organizations adapt to new trends such as remote work, flexible office layouts, and sustainability, the demand for innovative and ergonomic office furniture solutions continues to rise.

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This release was published on openPR.