Office Furniture Market Opportunities, Size and Growth Prospect Forecast To 2025

11 October 2018: Global Office Furniture Market is segmented on the basis of product type, price range, end user, distribution channel and geography. Office furniture is one of the major revenue generators in the furniture market in the U.S. Office furniture is designed specifically for use in office settings. Such furniture has an average lifespan of 8-11 years, after which it is generally replaced because of corporate and esthetic reasons.

Office furniture market includes the wide range of office furniture such as bookcase, cabinets, desks & chairs. Factors like employee satisfaction, retention and taking work commitments towards company are allowing corporates to add new designs and attractive furniture in the office premises. The office furniture sector includes companies involved in the manufacturing, distribution, and retail of office furniture. Manufacturers of office furniture develop many different products that include desks, filing cabinets, bookcases, chairs and general cabinets.

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Sometimes, manufacturers of office furniture also develop office and workspace fixtures like cafeteria equipment, counter tops, partitions and many other furniture parts. Increasing number of corporate offices, declining office vacancy rate and a modest rise in employment rate are the major drivers of office furniture market. Normally office furniture is created for optimal use in a workspace setting. As an example, computer desks are developed with a priority of housing computers and computer accessories, while still allowing enough space for good work.

Office furniture is directed to specialty work rooms, as businesses differ in space design. Furniture developed for modular room sometimes may be designed different than the pieces to be used in a high-rise building. Office furniture retail stores and showrooms may provide clients with the option of buying furniture from a manufacturer that the client is able to personally customize or design to be able to meet their needs and specific wants.

The demand within the office furniture industry is dependent on the overall standing of the economy, as well as employment rates, business developments, expansions, and overall operations, or the specific needs of a company to update or replace office furniture. The profitability of this specific industry is dependent on the efficient merchandising and marketing strategies. Smaller firms try to develop specialty furniture with a high quality of workmanship to be able to sell their products for a luxury price.

Environment protection acts and increasing deforestation are the major challenges for office furniture market. In addition to that, swelled price of raw material also affects the office furniture market. On the basis of product type, the office furniture market is segmented into systems, seating, overhead bins, tables, storage units & files and so on.

On the basis of price range, the office furniture market is segmented into low price (no features), high price (luxury furniture) and moderate price (featured furniture). On the basis of end user, the office furniture market is segmented into healthcare, workplace, education sector, home offices, small business owners, corporate executives and so on. On the basis of distribution channel, the office furniture market is segmented into online and offline.

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On the basis of geography, the office furniture industry is segmented into Latin America, Europe, Asia Pacific, North America and Middle East & Africa. The countries in North America such as U.S. & Canada are the larget importers of office furniture. The office furniture industry of the U.S. is expected to grow during the forecast period.

The key players in office furniture industry are Staples, Bestar Office Furniture, Sam's Club, IKEA, Costco, Boss Office Products, Wayfair, CIFF, Office Furniture, Crate & Barrel, Bush Furniture, Lorell, Sauder, Altra Furniture, Monarch Specialties, South Shore, Flash Furniture, Convenience Concepts, Winsome and Akro-Mills.