A New Research report has been added to the comprehensive database of KD Market Insights. The analysis library is titled “Office Furniture Market Size, Trends & Forecast 2018-2023” which includes essential data about the stock, consumption, profits and market share, consolidated with a report related to the business scope and product summary.
The global office furniture market is anticipated to flourish at a CAGR of 6.4% during the forecast period, i.e. 2018-2023. Besides, the market is expected to reach USD 84.4 Billion by the end of 2023 from USD 53.5 Billion in 2017.
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Growth Drivers and Barriers
According to the International Labour Organization, world economic growth increased by 3.6% in 2017 as compared to 3.2% in 2016. This growth also marked decrease in unemployment across the globe.
Positive GDP growth figures of developed and developing regions across the globe are believed to impact the growth of the market positively. Further, new employment opportunities in developing nations are thought to escalate the growth of the market. With the increasing number of employed people across the globe, the demand for new offices is also increasing.
Rapid introduction of innovative and advanced office furniture will intensify the growth of the market in the upcoming years. Key vendors are offering advanced & innovative designed furniture which are more healthy and comfortable. This factor is bolstering the growth of the global furniture market across all regions. Consumers such as enterprises and others prefer modern and modular office furniture’s to improve the productivity which bodes well for the growth of the market.
According to U.S. Census Bureau, residential office construction in the U.S. grew by 3.4% by Nov. 2017 as compared to -2.8% in Dec. 2016. Also, non-residential office construction spending witnesses a growth of 4.2% in 2017. Further, the establishment of new office spaces across all significant regions is expected to be the critical factor behind the growth of the office furniture market during the forecast period.
Consumers with low spending budget are looking forward to adopting every possible cost-effective furnishing solution such as online rental and second-hand furniture. Further, this rising trend of furniture rental and adoption of old furniture are reducing the demand for new furniture. Also, the decline in demand for new furniture is likely to hinder the growth of the market over the forecast period.
Segmentation
The research offers a comprehensive analysis of the office furniture market concerning the following sub-markets:
By Product
- Seating (Office Chairs, Guest Chairs, Stools, Sofa, Others)
- Storage Unit and Files (Bins & Shelves, Cabinets, Others)
- Workstation (Individual Workstation, Collaborative Workstation, Others)
- Tables (Conference Tables, Dining Tables, Occasional Tables, Others)
- Accessories
By Price Range
- Premium
- Medium
- Economy
By Distribution Channel
- Online Stores
- Offline Stores
By Geography
North America (U.S. & Canada)
Europe (Germany, United Kingdom, France, Italy, Spain, Russia and Rest of Europe)
Asia Pacific (China, India, Japan, South Korea, Indonesia, Taiwan, Australia, New Zealand and Rest of Asia Pacific)
Latin America (Brazil, Mexico, Argentina and Rest of Latin America)
Middle East & Africa (GCC, North Africa, South Africa and Rest of the Middle East & Africa)
Competitive Landscape
The report profiles various major and niche market players such as
- Herman Miller Inc.
- Inter IKEA Group
- Okamura Corporation
- HNI Corporation
- Knoll, Inc
- Steelcase Inc.
- Haworth Inc.
- Kokuyo Co Ltd.
- Kimball International Inc.
- Hooker Furniture
- Other Major & Niche Key Players
Competitive landscape analysis provides detailed strategic analysis of the company’s business and performance such as financial information, revenue breakup by segment and by geography, SWOT Analysis, risk analysis, key facts, company overview, business strategy, key product offerings, marketing and distribution strategies, new product development, recent news (acquisition, expansion, technology development, research & development expansion and other market activities.
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Table of Content
Research Methodology
Market Definition and List of Abbreviations
Executive Summary
Growth Drivers & Issues in Global Market
Global Office Furniture Market Trends
Opportunities in the Global Office Furniture Market
Recent Industry Activities, 2017
Porter's Five Forces Analysis
Market Value Chain and Supply Chain Analysis
Global Office Furniture Market Size (USD Million), Forecast & Y-o-Y Growth Analysis, 2017-2023
Global Office Furniture Market Segmentation Analysis, By Product
9.1. Introduction
9.2. Market Attractiveness, By Product
9.3. BPS Analysis, By Product
9.4. Seating (Office Chairs, Guest Chairs, Stools, Sofa, Others) Market Size (USD Million), Forecast & Y-o-Y Growth Analysis, 2017-2023
9.5. Storage Unit and Files (Bins & Shelves, Cabinets, Others) Market Size (USD Million), Forecast & Y-o-Y Growth Analysis, 2017-2023
9.6. Workstation (Individual Workstation, Collaborative Workstation, Others) Market Size (USD Million), Forecast & Y-o-Y Growth Analysis, 2017-2023
9.7. Tables (Conference Tables, Dining Tables, Occasional Tables, Others) Market Size (USD Million), Forecast & Y-o-Y Growth Analysis, 2017-2023
9.8. Accessories Market Size (USD Million), Forecast & Y-o-Y Growth Analysis, 2017-2023Global Office FurnitureMarket Segmentation Analysis, By Price Range
10.1. Introduction
10.2. Market Attractiveness, By Price Range
10.3. BPS Analysis, By Price Range
10.4. Premium Market Size (USD Million), Forecast & Y-o-Y Growth Analysis, 2017-2023
10.5. Medium Market Size (USD Million), Forecast & Y-o-Y Growth Analysis, 2017-2023
10.6. Economy Market Size (USD Million), Forecast & Y-o-Y Growth Analysis, 2017-2023Global Office Furniture Market Segmentation Analysis, By Distribution Channel
11.1. Introduction
11.2. Market Attractiveness, By Distribution Channel
11.3. BPS Analysis, By Distribution Channel
11.4. Online Stores Market Size (USD Million), Forecast & Y-o-Y Growth Analysis, 2017-2023
11.5. Offline Stores Market Size (USD Million), Forecast & Y-o-Y Growth Analysis, 2017-2023Geographical Analysis
12.1. Introduction
12.2. North America Market Size (USD Million), Forecast & Y-o-Y Growth Analysis, 2017-2023
12.2.1. By Product
12.2.1.1. Introduction
12.2.1.2. Market Attractiveness, By Product
12.2.1.3. BPS Analysis, By Product
12.2.1.4. Seating (Office Chairs, Guest Chairs, Stools, Sofa, Others) Market Size (USD Million), Forecast & Y-o-Y Growth Analysis, 2017-2023
12.2.1.5. Storage Unit and Files (Bins & Shelves, Cabinets, Others) Market Size (USD Million), Forecast & Y-o-Y Growth Analysis, 2017-2023
12.2.1.6. Workstation (Individual Workstation, Collaborative Workstation, Others) Market Size (USD Million), Forecast & Y-o-Y Growth Analysis, 2017-2023
12.2.1.7. Tables (Conference Tables, Dining Tables, Occasional Tables, Others) Market Size (USD Million), Forecast & Y-o-Y Growth Analysis, 2017-2023
12.2.1.8. Accessories Market Size (USD Million), Forecast & Y-o-Y Growth Analysis, 2017-2023
12.2.2. By Price Range
12.2.2.1. Introduction
12.2.2.2. Market Attractiveness, By Price Range
12.2.2.3. BPS Analysis, By Price Range
12.2.2.4. Premium Market Size (USD Million), Forecast & Y-o-Y Growth Analysis, 2017-2023
12.2.2.5. Medium Market Size (USD Million), Forecast & Y-o-Y Growth Analysis, 2017-2023
12.2.2.6. Economy Market Size (USD Million), Forecast & Y-o-Y Growth Analysis, 2017-2023
12.2.3. By Distribution Channel
12.2.3.1. Introduction
12.2.3.2. Market Attractiveness, By Distribution Channel
12.2.3.3. BPS Analysis, By Distribution Channel
12.2.3.4. Online Stores Market Size (USD Million), Forecast & Y-o-Y Growth Analysis, 2017-2023
12.2.3.5. Offline Stores Market Size (USD Million), Forecast & Y-o-Y Growth Analysis, 2017-2023
12.2.4. By Country
12.2.4.1. Market Attractiveness, By End-user
12.2.4.2. BPS Analysis, By End-User
12.2.4.3. U.S. Market Size (USD Million), Forecast & Y-o-Y Growth Analysis, 2017-2023
12.2.4.4. Canada Market Size (USD Million), Forecast & Y-o-Y Growth Analysis, 2017-2023
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