Global Office Furniture Market Anticipated to Grow at a CAGR of 5.8% during Forecast Period 2016-2024

According to Goldstein Research, world office furniture market is expected to reach USD 96.2 billion by 2024 from USD 61.2 billion in 2016, growing at a compounded annual growth rate of 5.8% over the forecast period 2016-2024. The rise of commercial space majorly in the developing countries on account of the economic development is driving the growth of global office furniture market. Global office furniture market segmentation has been carried out on the basis of material used, products, distribution channel, and region. Based on products, office chairs segmented accounted for 13.9% market share. The lengthening working hours in the office is augmenting the demand for chairs ranging from swivel chairs to ergonomic chairs. Global office furniture market is majorly driven by North America with the market share of 33.21% in 2016. North America office furniture market is growing on the back of a large number of working population and increasing office space in the region. Further, Asia Pacific office furniture market is expected to grow by 41.0% annual growth rate during 2016-2024.

Market Segmentation

On the basis of our in-depth analysis, Global Office Furniture Market can be segmented as follows:

  • By Material Used
    • Wood
    • Metal
    • Plastics
    • Others (glass, leather, steel and more)
  • By-Products
    • Office Chairs
    • Office Tables
    • Storage cabinets
    • Office furnishing
  • By Distribution Channel
    • Online Channel
    • Offline Channel 
  • By Region
    • North America (US, Canada) {Market Share (%), Market Size (USD Billion, Adoption Rate (%)}
    • Europe (UK, France, Italy, Germany, Spain, Hungary, Sweden, Russia, Poland and Rest of Europe) {Market Share (%), Market Size (USD Billion), Adoption Rate (%)}
    • The Middle East and Africa (GCC Countries, North Africa, South Africa and Rest of the Middle East & Africa) {Market Share (%), Market Size (USD Billion), Adoption Rate (%)}
    • Latin America (Brazil, Mexico and Rest of Latin America) {Market Share (%), Market Size (USD Billion), Adoption Rate (%)}
    • Asia Pacific (China, Japan, India, Singapore, South Korea, Australia, New Zealand and Rest of Asia-Pacific) {Market Share (%), Market Size (USD Billion), Adoption Rate (%)}
    • Rest of the World {Market Share (%), Market Size (USD Billion), Adoption Rate (%)}

 

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Global Office Furniture Market Outlook 2024contains the detailed overview of the global office furniture market. On the basis of our in-depth analysis, the market can be segmented in terms of market segmentation by the material used, products and distribution channel.

Further, for the in-depth analysis, Global Office Furniture Market Report encompasses the industry growth drivers, market challenges, risk analysis, market attractiveness, BPS (Base Point Scale) analysis, Porter’s five force model and SWOT analysis. This market report also includes competitive outlook of some of the major players profiling of companies such as IKEA, Herman Miller, Godrej and Boyce, Kokuyo, Okamura, Steelcase, Berco furniture solution, Creative wood, Stellar Global Furniture, Kimball International, Meridian Office group, Technion, Wipro Furniture, Sedus, Kinnarps, HOF Furniture, etc.

The company profiles include business strategy, geographical revenue distribution, major information of the companies which encompasses business outlook, products, services, and industries catered, financial analysis of the company and recent developments. Overall, the report represents the global office furniture market trends along with the market forecast that will help industry consultants, technology providers, 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 furniture market.

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