The global office furniture market
is segmented into product type such as seating, overhead bins, storage units
and files, tables, accessories and workstations. Among these segments, office seating
segment is expected to occupy the top position in office furniture market. The
demand for seating office furniture is increasing due to the rising number of
office spaces and employees across the globe. Further, the development and enhancement
such as increased comfort has influenced the market growth of office furniture.
Moreover, modular and modern furniture's are gaining popularity all over the world.
This factor is driving the growth of the office seating furniture market.
Global office furniture market
is expected to flourish at a significant CAGR of 5.2% over the forecast period.
Factors such as increasing number of commercial spaces and growth in the number
of employees are supplementing the growth of the global office furniture market.
Moreover, the global office furniture market is expected to garner noteworthy
revenue by the end of 2021.
North America is slated to
account for a leading share in overall office furniture market during the
forecast period. The growth in the region is anticipated to be fostered by the
increasing number of commercial properties. Besides, increasing number of
employees in the region is also expected to impel the growth of office
furniture market in the North America. U.S. is the prominent market
in the region. Asia-Pacific is expected to
showcase lucrative growth over the forecast period. Growth in the economy and
improving work conditions are the major factor which is fuelling the demand for
office furniture in the Asia Pacific region. Moreover, expansion of corporate
offices in the region is expected to positively impact the growth of office furniture
market in the Europe region.
Increasing Number of Commercial Spaces in the World
In recent times, IT, ITeS
and retail sectors have registered high demand for commercial offices spaces. Moreover,
expansion of business by multinational companies in growing economies is
anticipated to propel the demand for global office furniture market during the
forecast period.
Launch of Innovative Design in Furniture Products
Recent innovations in design
concepts and development of efficient and cost effective office furniture are
likely to drive the growth of the market during the forecast period. Apart from
this, rising trend of utilization of minimalistic office furniture is envisioned
to bolster the growth of the global office furniture market.
Although, high cost associated
with the raw material of office furniture and stringent environmental
regulations are some of the factors which are likely to dampen the growth of
the global office furniture market.
The
report titled “Global Office Furniture Market Analysis & Opportunity Outlook 2021” delivers detailed overview of
the global office furniture market in terms of market segmentation by product
type, by price range, by end user, by distribution channel, by material and by
region.
Further,
for the in-depth analysis, the report encompasses the industry growth drivers,
restraints, supply and demand risk, market attractiveness, BPS analysis and
Porter’s five force model.
This report also provides the
existing competitive scenario of some of the key players of the global office
furniture market which includes company profiling of Herman Miller Inc., HNI Corporation, Kokuyo, Okamura, Steelcase, Knoll,
Ashley Furniture Industries, Inter IKEA Group, Kimball International and Burotime
Office Furniture Co. Ltd. The profiling enfolds key information of the
companies which encompasses business overview, products and services, key
financials and recent news and developments. On the whole, the report depicts
detailed overview of the global office furniture market that will help industry
consultants, equipment manufacturers, existing players searching for expansion
opportunities, new players searching possibilities and other stakeholders to
align their market centric strategies according to the ongoing and expected
trends in the future.
About Research
Nester
Research Nester is a leading service provider for
strategic market research and consulting. We aim to provide unbiased,
unparalleled market insights and industry analysis to help industries,
conglomerates and executives to take wise decisions for their future marketing
strategy, expansion and investment etc. We believe every business can expand to
its new horizon, provided a right guidance at a right time is available through
strategic minds. Our out of box thinking helps our clients to take wise
decision so as to avoid future uncertainties.
Read more Information: https://www.researchnester.com/reports/global-office-furniture-market-analysis-opportunity-outlook-2021/78
Contact for more Info:
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Daniel
U.S.
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