Office Chair Market Anticipates US$ 23.09 Billion Valuation by 2033, Driven by 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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Key Trends:

Easy-to-install, multifunctional, and quick-to-assemble features are experiencing increased adoption in the office furniture market. This trend is fueled by a strong consumer preference for cost-effective furniture solutions. Smart furniture is also experiencing a rise in popularity, providing users with posture-adjusting functionalities. For example, office desks come equipped with controllers and sensors, allowing employees to manage factors like temperature. Key players in the office furniture industry are enhancing ergonomics and incorporating value-added designs.

Key Companies Profiled

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

Recent Developments:

Major players in the office furniture market are prioritizing innovation and product development to meet customer needs. Additionally, manufacturers are partnering with others to introduce new products and expand their presence in response to consumer demands. For example, in June 2022, Miller Knoll Inc collaborated with Studio 7.5 to unveil a new collection of office chairs designed to minimize gaps. In February 2022, Godrej and Boyce launched Move Up, an ergonomic office table targeting individuals with home offices, through its subsidiary Godrej Interior. Another instance is Steelcase's definitive agreement to acquire Halcon, aimed at enhancing its portfolio of wooden products.

Drivers:

The office furniture market is projected to experience steady growth until 2033, with an estimated value of US$ 23.09 billion. This growth is fueled by several factors:

• The surge in co-working spaces, where professionals gather in shared environments for various projects, has significantly impacted the office furniture market.

• The rapid expansion of the Information and Communication Technology (ICT) sector necessitates enhanced infrastructure, including IT applications and engineering. Governments have been making substantial investments in this area.

• Additionally, the increasing presence of Micro, Small, and Medium Enterprises (MSMEs) is driving the demand for better infrastructure, further boosting the office furniture market.

Read More: https://www.factmr.com/report/942/office-chair-market

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.

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.