Office Furniture Market to Reach US$ 87.4 Billion, Globally, by 2032 at 3.5% CAGR – IMARC Group

The global office furniture market size reached US$ 63.3 Billion in 2023 & expected to reach US$ 87.4 Billion by 2032, at a CAGR of 3.5% during 2024-2032.

BROOKLYN, NEW YORK, UNITED STATES, December 13, 2023 /EINPresswire.com/ — Office Furniture Market Outlook 2024-2032:

According to the latest report by IMARC Group, titled “Office Furniture Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2024-2032,” offers a comprehensive analysis of the industry, which comprises insights on the global office furniture market. The report also includes competitor and regional analysis, and contemporary advancements in the global market.

How Big is the Global Office Furniture Market:

The global office furniture market size reached US$ 63.3 Billion in 2023. Looking forward, IMARC Group expects the market to reach US$ 87.4 Billion by 2032, exhibiting a growth rate (CAGR) of 3.5% during 2024-2032.

Global Office Furniture Market Overview:

Office furniture encompasses a wide array of items designed to support various activities within a workplace environment. These items include desks, chairs, tables, filing cabinets, and bookcases, among others, each serving a distinct function tailored to the needs of a professional setting. Desks, often the centerpiece, are crafted to provide a comfortable and efficient workspace, integrating features for organization and technology access. The materials used in manufacturing these pieces are selected for durability, aesthetics, and ease of maintenance, reflecting the dynamic and multifaceted nature of modern work environments. Additionally, the advent of smart furniture, integrating technology for enhanced functionality and user interaction, marks a significant evolution in this domain. The design and arrangement of these elements significantly influence the productivity, efficiency, and overall well-being of employees, thereby playing a critical role in the operational success of businesses.

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Global Office Furniture Market Trends:

The global market is primarily driven by the increasing number of startups and burgeoning small businesses that necessitate new office setups. In line with this, there’s a heightened focus on workplace aesthetics and ergonomic designs, further propelling the demand for modern office furnishings. Moreover, the paradigm shift towards remote and hybrid working models is catalyzing the need for home office setups, thereby impacting the market significantly. In addition to this, the rapid expansion of the real estate sector, particularly in commercial spaces, is necessitating the installation of new office furniture, thereby contributing to the market growth. Concurrently, the growing awareness regarding employee health and wellness in the workplace is leading to an increased investment in furniture that supports physical well-being, which is fueling the market.

Furthermore, continual technological advancements, such as integrated tech features, improved ergonomics, and in-built storage features enhancing product usability is stimulating the market. Besides this, the emerging trend towards eco-friendly and sustainable office solutions resonating with the environmental concerns of modern consumers is creating lucrative opportunities in the market. Additionally, the introduction of favorable government and corporate initiatives promoting ergonomic and healthy work environments are bolstering the market growth. Apart from this, the rapid expansion of multinational corporations into new regions is necessitating standardized and functional office furnishings, thereby adding to the market’s expansion.

By the IMARC Group, Some of the Top Office Furniture Companies Operating in the Global Office Furniture Industry are Given Below:

• Steelcase Inc.
• Okamura Corporation
• HNI Corporation
• Herman Miller Inc.
• Haworth, Inc.
• Knoll, Inc.
• KOKUYO Co., Ltd.
• Meridian Office Furniture Limited
• Kimball International, Inc.
• D3, Inc.
• BERCO DESIGNS
• Hooker Furniture Corporation

Explore the Full Report with Charts, Table of Contents, and List of Figures: https://www.imarcgroup.com/office-furniture-market

Key Market Segmentation:

Breakup by Product Type:

• Seating
• Systems
• Tables
• Storage Units and File Cabinets
• Overhead Bins
• Others

Breakup by Material Type:

• Wood
• Metal
• Plastic and Fiber
• Glass
• Others

Breakup by Distribution Channel:

• Direct Sales
• Specialist Store
• Non-Specialist Stores
• Online
• Others

Breakup by Price Range:

• Low
• Medium
• High

Breakup by Region:

• North America (United States, Canada)
• Asia Pacific (China, Japan, India, Australia, Indonesia, Korea, Others)
• Europe (Germany, France, United Kingdom, Italy, Spain, Others)
• Latin America (Brazil, Mexico, Others)
• Middle East and Africa (United Arab Emirates, Saudi Arabia, Qatar, Iraq, Other)

Key highlights of the Report:

• Market Performance (2018-2023)
• Market Outlook (2024-2032)
• COVID-19 Impact on the Market
• Porter’s Five Forces Analysis
• Historical, Current, and Future Market Trends
• Market Drivers and Success Factors
• SWOT Analysis
• Structure of the Market
• Value Chain Analysis
• Comprehensive Mapping of the Competitive Landscape

Note: If you need specific information that is not currently within the scope of the report, we can provide it to you as a part of the customization.

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IMARC Services Private Limited
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