Industry Background:
High demand for office furniture is increasing due to growing employment and the emergence of new office spaces around the world. Global office furniture market is expected to grow at a remarkable pace in the future. A number of factors such as growing office leasing activities around the world and positive growth of global GDP are likely to be the dynamic factors behind the growth of the global office furniture market in the forecasted period. Additional, development, as well as the accessibility of advanced & functional office furniture, is adding value to the office furnishing market.
Attributes | Details |
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Study Period | 2017-2027 |
Base Year | 2021 |
High Growth Market | Asia- Pacific |
Unit | Value (USD Million) |
Key Companies Profiled | Steelcase Inc. (United States), Okamura Corporation (Japan), Hni Corporation (United States), Herman Miller, Inc. (United States), Haworth Inc. (United States), Knoll, Inc. (United States), Kokuyo Co.,Ltd. (Japan), Kimball International (United States), 9to5 Seating (United States) and Berco Designs (United States) |
According to AMA, the market for Office Furnishings is expected to register a CAGR of 6.3% during the forecast period to 2027. This growth is primarily driven by Upsurge in Number of Offices Worldwide and High Expenditure on Office Interiors.
Globally, a noticeable market trend is evident Rise in Number of Corporate Offices across the World
The Construction & Engineering sector in the North America region has been increasing at a sustainable rate, and further growth is expected to be witnessed over the forecast period, owing to the robust investments and expansion in production facilities in the region. Major Manufacturers, such as Steelcase Inc. (United States), Okamura Corporation (Japan), Hni Corporation (United States), Herman Miller, Inc. (United States), Haworth Inc. (United States), Knoll, Inc. (United States), Kokuyo Co.,Ltd. (Japan), Kimball International (United States), 9to5 Seating (United States) and Berco Designs (United States), etc have either set up their manufacturing facilities or are planning to start new provision in the dominated region in the upcoming years. Leading global players are focusing on strategic partnerships to improve their products and services. In addition, companies are focusing on increasing their client base to strengthen market position and to enhance product & service offerings.
Influencing Trend:
Rise in Number of Corporate Offices across the World and Growing Trend for Adopting Modern and Innovative Design Furniture in Offices Instead Of Conventional Furniture
Market Growth Drivers:
Upsurge in Number of Offices Worldwide and High Expenditure on Office Interiors
Challenges:
Competition from the Local Players
Restraints:
Rising Trends of Furniture Rental and High Adoption of Old Furniture Are Reducing the Demand for New Furniture
Opportunities:
Growing Number of Start-Ups As Well As Home Offices to Drive Office and Upsurge in Sales of Office Furniture through Online Stores
AMA Research follows a focused and realistic research framework that provides the ability to study the crucial market dynamics in several regions across the world. Moreover, an in-depth assessment is mostly conducted by our analysts on geographical regions to provide clients and businesses the opportunity to dominate in niche markets and expand in emerging markets across the globe. This market research study also showcases the spontaneously changing Manufacturers landscape impacting the growth of the market. Furthermore, our market researchers extensively analyze the products and services offered by multiple players competing to increase their market share and presence.
Customization in the Report
AMA Research features not only specific market forecasts but also includes significant value-added commentary on:
- Market Trends
- Technological Trends and Innovations
- Market Maturity Indicators
- Growth Drivers and Constraints in Office Furnishings Market
- Analysis about New Entrants in Office Furnishings Market & Entry/Exit Barriers
- To Seize Powerful Market Opportunities
- Identify Key Business Segments, Market Proposition & Gap Analysis
- An Unbiased Perspective towards Market Performance & Indicators
Against this Challenging Backdrop, Office Furnishings Study Sheds Light on
The Office Furnishings Market status quo and key characteristics. To end this, Analysts at AMA organize and took surveys of the Office Furnishings industry Manufacturers. The resultant snapshot serves as a basis for understanding why and how the industry can be expected to change.
Where Office Furnishings industry is heading and what are the top priorities. Insights are drawn from financial analysis, surveys, and interviews with key executives and industry experts.
How every company in this diverse set of Manufacturers can best navigate the emerging competition landscape and follow a strategy that helps them position to hold the value they currently claim or capture the new addressable opportunity.