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Global Office Furniture Market: About this market
The office furniture market analysis considers sales from distribution channels, including offline and online. Our analysis also considers the sales of office furniture in APAC, Europe, North America, South America, and MEA. In 2018, the offline segment had a significant market share, and this trend is expected to continue over the forecast period. Factors such as the availability of a wide variety of brands at multistore retail units and dealers will play a significant role in the offline segment to maintain its market position. Also, our global office furniture market report looks at factors such as the growing demand for modern and luxury furniture, an increase in the number of office spaces, and a growing demand for eco-friendly furniture. However, fluctuating prices of raw materials, high competition from regional brands and the threat of counterfeiting, and long product replacement cycle may hamper the growth of the office furniture industry over the forecast period.
Global Office Furniture market: Overview
Growing demand for eco-friendly furniture
Office furniture manufacturers are increasingly adopting green solutions due to the growing demand for customized office furniture from recycled wood wastes and rising concern over increasing deforestation. The adoption of green solutions also helps them to comply with the guidelines set up by non-profit trade associations. The growing demand for eco-friendly furniture will lead to the expansion of the global office furniture market at a CAGR of almost 6% during the forecast period.
Increasing consumer preference for multifunctional and customized furniture
There is an increase in the demand for multifunctional, collaborative, and portable furniture due to the evolving consumer demands, shrinking workspace, rising number of startups, and implementation of evolved teaching methodology in international schools. The growing preference for customized furniture to support employee’s comfort and boost their efficiency is expected to have a positive impact on the overall market growth.
Competitive Landscape
With the presence of several major players, the global office furniture market is fragmented. This robust vendor analysis is designed to help clients improve their market position, and in line with this, this report provides a detailed analysis of several leading office furniture manufacturers, that include Herman Miller Inc., HNI Corp., KOKUYO Co. Ltd., Okamura Corp., and Steelcase Inc.
Also, the office furniture market analysis report includes information on upcoming trends and challenges that will influence market growth. This is to help companies strategize and leverage on all forthcoming growth opportunities.
Table of Contents
Executive Summary
The following companies are recognised as the key players in the global office furniture market: Herman Miller Inc., HNI Corp., KOKUYO Co. Ltd., Okamura Corp., and Steelcase Inc.Commenting on the report, an analyst from the research team said: “The latest trend gaining momentum in the market is the increasing consumer preference for multifunctional and customized furniture.”
According to the report, one of the major drivers for this market is the growing demand for eco-friendly furniture.
Further, the report states that one of the major factors hindering the growth of this market is the long product replacement cycle.
The study was conducted using an objective combination of primary and secondary information, including inputs from key participants in the industry. The report contains a comprehensive market and vendor landscape in addition to a SWOT analysis of the key vendors.
Companies Mentioned
A selection of companies mentioned in this report includes:
- Herman Miller Inc.
- HNI Corp.
- KOKUYO Co. Ltd.
- Okamura Corp.
- Steelcase Inc.
