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With the increasing use of advanced technology, office furniture manufacturers are also designing furniture that can fit with the new technology including a different type of gadgets, machines, etc. Employee health and wellness are emerging as the priority for businesses, manufacturers are focusing on developing and designing furniture offering great comfort and minimizing health issues. The concept of smart furniture is also gaining momentum such as office desks with sensors, where a person can set preference according to the comfort. For instance, the sensor attached to a chair can indicate when it’s time to change posture. More such new smart office furniture is being developed with a focus on specific use and comfort.
4 Forecast Highlights on Global Office Furniture Market
- Asia Pacific Excluding Japan (APEJ) is expected to remain dominant in the global office furniture market. Experiencing robust growth, APEJ office furniture market is estimated to reach close to US$ 14,800 million revenue by the end of 2022. APEJ is witnessing healthy growth due to the increasing number of commercial complexes, tech parks and expansion of MNCs in the region.
- North America is expected to emerge as the second most lucrative market in the global office furniture market. Owing to the increasing adoption of innovative technologies in the region and change in overall operations, companies in the region are shifting towards the furniture that can meet their specific needs.
- Office chairs are expected to emerge as one of the most used and preferred products in the office furniture market. Office chairs are projected to gain around one-third of the revenue share by 2017 end. Towards the end of 2022, office chairs are estimated to bring in nearly US$ 8,900 million revenue.
- Office furniture sales through retail stores are expected to be highest during the forecast period 2017-2022. Retail stores as a sales channel is likely to experience above-average growth throughout the forecast period. Meanwhile, direct to consumer is also expected to witness steady growth. It is projected to create incremental opportunity exceeding US$ 1,800 million between 2017 and 2022.
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Office Chairs- Top-Selling Product
Compared to other office furniture such as tables, office systems furniture, storage furniture, etc., office chairs are expected to emerge as a top-selling product. Witnessing a steady growth, office chairs is estimated to surpass US$ 8,800 million value by the end of 2022. Meanwhile, office tables are also expected to account for nearly one-third of the revenue share by 2017 end.
Office Furniture to Witness Highest Sales through Retail Stores
Accounting for nearly one-third of the revenue share, retail stores is expected to emerge as the most lucrative sales channel for office furniture. Towards the end of 2022, retail stores are projected to bring in nearly US$ 9,600 million revenue. Although sales of office furniture through direct to customer sales channel is also expected to experience above-average growth during the forecast period 2017-2022.
Regional Outlook
Asia Pacific Excluding Japan (APEJ) is projected to witness impressive growth, exceeding US$ 14,700 million revenue by the end of 2022. Increasing development of corporate offices, rise in a number of MNCs building new offices, and growing number of startups and new entrants resulting in more number of employees are some of the factors driving the growth of office furniture in the region.
Competition Tracking
The report offers a detailed profile of various companies that are expected to remain active in the expansion of global office furniture market through 2022, which include Herman Miller Inc., Steelcase Inc., Knoll, Inc., Okamura Corp, HNI Corporation, Uchida Yoko Co., Ltd, INABA SEISAKUSHO Co., Ltd, Itoki Corp, Fursys, Inc., and UE Furniture Co., Ltd.
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Table of Content:
- Global Office Furniture Market - Executive Summary
- Global Office Furniture Market Overview
2.1. Introduction
2.1.1. Global Office Furniture Market Taxonomy
2.1.2. Global Office Furniture Market Definition
2.2. Global Office Furniture Market Size (US$ Mn) and Forecast, 2012-2022
2.2.1. Global Office Furniture Market Y-o-Y Growth
2.3. Global Office Furniture Market Dynamics
2.4. Cost Structure
2.5. Pricing Analysis
2.6. Market Opportunities
2.7. Product Innovations
2.8. List of Distributors
2.9. Key Participants in the Market By Region - Global Office Furniture Market Analysis and Forecast By Product Type
3.1. Global Office Furniture Market Size and Forecast By Product Type, 2012-2022
3.1.1. Office Chairs Market Size and Forecast, 2012-2022
3.1.1.1. Revenue (US$ Mn) Comparison, By Region
3.1.1.2. Market Share Comparison, By Region
3.1.1.3. Y-o-Y growth Comparison, By Region
3.1.2. Office Tables Market Size and Forecast, 2012-2022
3.1.2.1. Revenue (US$ Mn) Comparison, By Region
3.1.2.2. Market Share Comparison, By Region
3.1.2.3. Y-o-Y growth Comparison, By Region
3.1.3. Storage Furniture Market Size and Forecast, 2012-2022
3.1.3.1. Revenue (US$ Mn) Comparison, By Region
3.1.3.2. Market Share Comparison, By Region
3.1.3.3. Y-o-Y growth Comparison, By Region
3.1.4. Office Systems Furniture Market Size and Forecast, 2012-2022
Continued……………..
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