Office Furniture Market- Roadmap for Recovery from COVID-19 | Demand For Modern And Luxury Furniture to Boost the Market Growth | Technavio
Technavio has been monitoring the office furniture market and it is poised to grow by USD 22.67 bn 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.
Although the COVID-19 pandemic continues to transform the growth of various industries, the immediate impact of the outbreak is varied. While a few industries will register a drop in demand, numerous others will continue to remain unscathed and show promising growth opportunities. Technavio's in-depth research has all your needs covered as our research reports include all foreseeable market scenarios, including pre- & post-COVID-19 analysis. Download a Free Sample Report on COVID-19 Impacts
Frequently Asked Questions:
What are the major trends in the market?
Growing demand for eco-friendly office furniture is a major trend driving the growth of the market.
At what rate is the market projected to grow?
The year-over-year growth for 2020 is estimated at 5.52% and the incremental growth of the market is anticipated to be $ 22.67 bn.
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.
What is the key market driver?
The demand for modern and luxury furniture is one of the major factors driving the market.
How big is the APAC market?
The APAC region will contribute 46% of the market share.
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. The demand for modern and luxury furniture will offer immense growth opportunities. To make 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.
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Technavio's custom research reports offer detailed insights on the impact of COVID-19 at an industry level, a regional level, and subsequent supply chain operations. This customized report will also help clients keep up with new product launches in direct & indirect COVID-19 related markets, upcoming vaccines and pipeline analysis, and significant developments in vendor operations and government regulations.
Technavio presents a detailed picture of the market by the way of study, synthesis, and summation of data from multiple sources. The office furniture market report covers the following areas:
Office Furniture Market Size
Office Furniture Market Trends
Office Furniture Market Industry 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.
Technavio suggests three forecast scenarios (optimistic, probable, and pessimistic) considering the impact of COVID-19. Technavio's in-depth research has direct and indirect COVID-19 impacted market research reports.
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:
Executive Summary
Market Overview
Market Landscape
Market ecosystem
Value chain analysis
Market Sizing
Market definition
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 condition
Market Segmentation by Product
Market segments
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
Market segments
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
Market segments
Comparison by Distribution channel placement
Offline - Market size and forecast 2019-2024
Online - Market size and forecast 2019-2024
Market opportunity by Distribution channel
Customer landscape
Overview
Geographic Landscape
Geographic segmentation
Geographic comparison
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
Market drivers
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 challenges
Market trends
Vendor Landscape
Overview
Vendor landscape
Landscape disruption
Vendor Analysis
Vendors covered
Market positioning of vendors
Haworth Inc.
Herman Miller Inc.
HNI Corp.
Hooker Furniture
Inter IKEA Holding BV
Kimball International Inc.
Knoll Inc.
KOKUYO Co. Ltd.
OKAMURA Corp.
Steelcase Inc.
Appendix
Scope of the report
Currency conversion rates for US$
Research methodology
List of abbreviations
About Us
Technavio is a leading global technology research and advisory company. Their research and analysis focuses on emerging market trends and provides actionable insights to help businesses identify market opportunities and develop effective strategies to optimize their market positions. With over 500 specialized analysts, Technavio's report library consists of more than 17,000 reports and counting, covering 800 technologies, spanning across 50 countries. Their client base consists of enterprises of all sizes, including more than 100 Fortune 500 companies. This growing client base relies on Technavio's comprehensive coverage, extensive research, and actionable market insights to identify opportunities in existing and potential markets and assess their competitive positions within changing market scenarios.
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