Office Furniture Market by Distribution Channel, Product and Geography - Global Forecast and Analysis 2019-2023
Global Office Furniture Market: About this market
Technavio’s 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.
For the detailed list of factors that will drive the global office furniture market during the forecast period 2019-2023, click here.
With the presence of several major players, the global office furniture market is fragmented. Technavio’s 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.
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