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Office Furniture Market Expected to Witness Rapid Expansion by the End of 2022

02-02-2018 08:10 AM CET | Business, Economy, Finances, Banking & Insurance

Press release from: Fact.MR



Businesses and technologies are changing constantly, hence a well-designed workplace should accommodate these changes. Manufacturers of office furniture are focusing on designing furniture with multimedia capability, boosting the performance in the workplace. The health of employees have started gaining importance in office furniture space, especially sitting for long hours in office is resulting in considerable strain on spine. Hence manufacturers are designing office furniture that can provide perfect posture, thereby minimizing the risk of sever back or spine problem. This report, compiled by Fact.MR, provides in-depth analysis of the global office furniture market for the forecast period 2017-2022, and offers key insights about future market direction.

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The scope of Fact.MR’s report is to analyze the global office furniture market for the forecast period 2017-2022 and provide readers an unbiased and accurate analysis. Office furniture manufacturers, stakeholders, and suppliers in the global consumer goods sector can benefit from the analysis offered in this report. This report offers a comprehensive analysis, which can be of interest to leading trade magazines and journals pertaining to office furniture.

In order to offer readers with up-to-date information about the latest advancements in the global office furniture market, the report provides updates about market opportunities, which can benefit leading manufacturers of office furniture. With continuous evolution of the consumer goods sector, keeping a record of latest developments and trends is fundamental for office furniture manufacturers to formulate key business strategies. Detailed insights about raw material sourcing, supply chain, pricing analysis, list of distributors, and cost structure are provided in this section.

The Fact.MR report provides an in-depth and segment-wise analysis and forecast of the global office furniture market. The report on office furniture market has been segmented into product type, sales channel, and region. This segmentation also offers detailed country-wise forecast on all the major parameters of the market.

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4 Forecast Highlights on Global Office Furniture Market

1- Asia Pacific Excluding Japan (APEJ) is expected to remain dominant in the global office furniture market. Experiencing robust growth, APEJ office furniture market is estimated to reach close to US$ 14,800 million revenue by the end of 2022. APEJ is witnessing healthy growth due to the increasing number of commercial complexes, tech parks and expansion of MNCs in the region.

2- North America is expected to emerge as the second most lucrative market in the global office furniture market. Owing to the increasing adoption of innovative technologies in the region and change in overall operations, companies in the region are shifting towards the furniture that can meet their specific needs.

3- Office chairs are expected to emerge as one of the most used and preferred products in the office furniture market. Office chairs are projected to gain around one-third of the revenue share by 2017 end. Towards the end of 2022, office chairs are estimated to bring in nearly US$ 8,900 million revenue.

4- Office furniture sales through retail stores are expected to be highest during the forecast period 2017-2022. Retail stores as a sales channel is likely to experience above-average growth throughout the forecast period. Meanwhile, direct to consumer is also expected to witness steady growth. It is projected to create incremental opportunity exceeding US$ 1,800 million between 2017 and 2022.

Competition Tracking

The report offers a detailed profile of various companies that are expected to remain active in the expansion of global office furniture market through 2022, which include Herman Miller Inc., Steelcase Inc., Knoll, Inc., Okamura Corp, HNI Corporation, Uchida Yoko Co., Ltd, INABA SEISAKUSHO Co., Ltd, Itoki Corp, Fursys, Inc., and UE Furniture Co., Ltd.

About Fact.MR

Fact.MR is a fast-growing market research firm that offers the most comprehensive suite of syndicated and customized market research reports. We believe transformative intelligence can educate and inspire businesses to make smarter decisions. We know the limitations of the one-size-fits-all approach; that’s why we publish multi-industry global, regional, and country-specific research reports.

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