Office Furniture (COVID-19) Market to See Amazing Growth Forecast 2021-2027 – IMIESA

The global office furniture market size reached a value of USD 72.1 billion in 2020. The market is further expected to grow at a CAGR of 5.3% between 2021 and 2027 to reach a value of approximately 98.3 billion USD by 2027.

Office furniture is growing in importance, with the expansion of the business environment in developing and underdeveloped countries around the world. The number of renovation and modification projects is increasing in countries like United States, China and India, fueling the growth of the market. In addition, favorable trade relations between countries and government policies, such as foreign direct investment and trade easing in Asia and the Middle East, have increased the number of multinational and global enterprises and technology and business parks, helping the market to register more transactions.

The increasing construction of residences, offices and commercial complexes is one of the significant factors influencing the growth of the market throughout the study period. This trend is also expected to continue over the forecast period. Additionally, due to the COVID-19 pandemic, many companies have switched to remote working practices. The majority of employees have slowly resumed their work in the office, which is expected to accelerate the growth of the market. The increase in the number of corporate offices, due to the rapid construction of IT parks and commercial areas, is creating a demand for modernized office furniture on a global scale. To stimulate communication between colleagues and create a collaborative environment through social interactions, organizations create informal office spaces. This change prompted manufacturers in the studied market to introduce intelligently designed furniture products.

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Office furniture market: competitive landscape
-Detailed office furniture vendor profiles have been provided in the report to assess their finances, key product offerings, recent developments and strategies
-The office furniture market is fragmented due to the presence of several players. Competition is expected to intensify in the coming years due to the entry of several local players.

The major players operating in the global office furniture market are: Steelcase, Herman Miller, Haworth, HNI Corporation, Okamura Corporation, Global Group, KI, Teknion, Knoll, Kinnarps Holding, Kimball Office, Kokuyo, ITOKI, Uchida Yoko, Vitra Holding, Nowy Styl, Groupe Clestra Hausermann, Izzy +, Lienhard Office Group , Koninkije Ahrend, USM Holding, Bene, Sedus Stoll, Martela, Scandinavian Business Seating, EFG Holding, Fursys, AURORA, SUNON, Quama, others.

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Office Furniture Market, By Product Type:

Office Furniture Market, By Application:

Office furniture market, by geography
Asia-Pacific is the fastest growing region in the global office furniture market. China, Japan, Australia and India are the main contributing countries in the region. Many key players in the office furniture market are partnering with online retail stores to strengthen their distribution network. The demand for office furniture has increased with an exponential increase in commercial properties and jobs in the service sector. An increasing number of start-ups and business expansions is another factor that is expected to drive the market growth in the region. The increase in the region is expected to be driven by the growing demand for office rental and jobs. Moreover, the expansion of multinational enterprises in Asia-Pacific is expected to drive the growth of the office furniture market in the region.

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Scope of the report
A new study on the global office furniture market has been released by Stats and Research (SNR). It presents a wealth of information on key market dynamics including market drivers, trends and challenges as well as the global office furniture market structure across the globe. SNR study offers valuable insights into the global office furniture market to illustrate the market growth during the forecast period, 2021-2027.

Research methodology
A unique research methodology has been used by SNR to conduct comprehensive research on the growth of the Global Office Furniture Market. It is a combination of primary and secondary research, which helps analysts ensure the accuracy and reliability of the conclusions drawn.

Market segmentation
The SNR study on global office furniture market comprises information categorized into six sections – product, application, distribution channel, and region. Changing industry trends and other crucial market dynamics associated with these sections of the Office Furniture Market are discussed in detail.

Forecast models
1. Analysis of macroeconomic and microeconomic factors
2. Analysis of product trends
3. Statistical tools
4. Trend projection
5. Exponential smoothing

Scope of customization
Free customization of the report (equivalent to up to 4 working days for the analyst) with purchase. Addition or modification of national, regional and segmental scope

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