Technavio has been monitoring the office furniture market and it is poised to grow by USD 22.67 billion during 2020-2024, progressing at a CAGR of almost 6% during the forecast period. The report offers an up-to-date analysis regarding the current market scenario, latest trends and drivers, and the overall market environment.
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Technavio has announced its latest market research report titled Global Office Furniture Market 2020-2024 (Graphic: Business Wire)
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Frequently Asked Questions-
What was the value of the office furniture market in 2019?
Technavio says that the value of the market was USD 71.54 billion in 2019 and it is projected to reach USD 95.36 billion by 2024.
At what rate is the market projected to grow during the forecast period 2020-2024?
Growing at a CAGR of almost 6%, the market growth will accelerate in the forecast period.
What is the key factor driving the market?
Demand for modern and luxury furniture is one of the key factors driving the market growth.
Who are the top players in the market?
Haworth Inc., Herman Miller Inc., HNI Corp., Hooker Furniture, Inter IKEA Holding BV, Kimball International Inc., Knoll Inc., KOKUYO Co. Ltd., OKAMURA Corp., and Steelcase Inc. are some of the major market participants.
Which region is expected to hold the highest market share?
What is the year-over-year growth rate of the global market?
The year-over-year growth rate for 2020 is estimated at 5.52%.
The market is fragmented, and the degree of fragmentation will accelerate during the forecast period. Haworth Inc., Herman Miller Inc., HNI Corp., Hooker Furniture, Inter IKEA Holding BV, Kimball International Inc., Knoll Inc., KOKUYO Co. Ltd., OKAMURA Corp., and Steelcase Inc. are some of the major market participants. To make the most of the opportunities, market vendors should focus more on the growth prospects in the fast-growing segments, while maintaining their positions in the slow-growing segments.
Demand for modern and luxury furniture has been instrumental in driving the growth of the market.
Office Furniture Market 2020-2024: Segmentation
Office Furniture Market is segmented as below:
Storage Units and Files
Commercial Office Furniture
Home Office Furniture
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Office Furniture Market 2020-2024: Scope
Technavio presents a detailed picture of the market by the way of study, synthesis, and summation of data from multiple sources. Our office furniture market report covers the following areas:
Office Furniture Market size
Office Furniture Market trends
Office Furniture Market analysis
This study identifies the growing demand for eco-friendly office furniture as one of the prime reasons driving the office furniture market growth during the next few years.
Office Furniture Market 2020-2024: Vendor Analysis
We provide a detailed analysis of vendors operating in the office furniture market, including some of the vendors such as Haworth Inc., Herman Miller Inc., HNI Corp., Hooker Furniture, Inter IKEA Holding BV, Kimball International Inc., Knoll Inc., KOKUYO Co. Ltd., OKAMURA Corp., and Steelcase Inc. Backed with competitive intelligence and benchmarking, our research reports on the office furniture market are designed to provide entry support, customer profile and M&As as well as go-to-market strategy support.
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Office Furniture Market 2020-2024: Key Highlights
CAGR of the market during the forecast period 2020-2024
Detailed information on factors that will assist office furniture market growth during the next five years
Estimation of the office furniture market size and its contribution to the parent market
Predictions on upcoming trends and changes in consumer behavior
The growth of the office furniture market
Analysis of the market’s competitive landscape and detailed information on vendors
Comprehensive details of factors that will challenge the growth of office furniture market vendors
Table of Contents:
Value chain analysis
Market segment analysis
Market size 2019
Market outlook: Forecast for 2019 - 2024
Five Forces Analysis
Five Forces Summary
Bargaining power of buyers
Bargaining power of suppliers
Threat of new entrants
Threat of substitutes
Threat of rivalry
Market Segmentation by Product
Comparison by Product placement
Seating - Market size and forecast 2019-2024
Systems - Market size and forecast 2019-2024
Tables - Market size and forecast 2019-2024
Storage units and files - Market size and forecast 2019-2024
Overhead bins - Market size and forecast 2019-2024
Market opportunity by Product
Market Segmentation by End-user
Comparison by End-user placement
Commercial office furniture - Market size and forecast 2019-2024
Home office furniture - Market size and forecast 2019-2024
Market opportunity by End-user
Market Segmentation by Distribution Channel
Comparison by Distribution channel placement
Offline - Market size and forecast 2019-2024
Online - Market size and forecast 2019-2024
Market opportunity by Distribution channel
APAC - Market size and forecast 2019-2024
North America - Market size and forecast 2019-2024
Europe - Market size and forecast 2019-2024
South America - Market size and forecast 2019-2024
MEA - Market size and forecast 2019-2024
Key leading countries
Market opportunity by geography
Drivers, Challenges, and Trends
Volume driver - Demand led growth
Volume driver - Supply led growth
Volume driver - External factors
Volume driver - Demand shift in adjacent markets
Price driver - Inflation
Price driver - Shift from lower to higher priced units
Market positioning of vendors
Herman Miller Inc.
Inter IKEA Holding BV
Kimball International Inc.
KOKUYO Co. Ltd.
Scope of the report
Currency conversion rates for US$
List of abbreviations
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