The global institutional furniture market is anticipated to witness a growth of steady CAGR during the forecast period, 2023-2027. The booming market of emerging economies and the rise in the expenditure capacity of consumers, along with the ongoing infrastructural development activities, are the key factors driving the growth of the global institutional furniture market.
Institutional furniture consists of general-purpose furniture used in schools, colleges, healthcare facilities. They comprise seating, storage, and desks & tables. Growing demand for ergonomically designed furniture, which has enhanced aesthetic appearance and is affordable, is expected to boost the global institutional furniture market demand.
Rapid Infrastructure Development in Developing Economies Fuels Market Growth
Think about it – leaders are really working hard, throwing serious money at building better stuff to boost our economy and make life better for everyone. For example, did you know there were around 85,000 hotels in the United States alone back in 2021? That booming hospitality industry is ripe with opportunities! Plus, all this urbanization we're seeing? It's not just about more buildings; it's about more schools, offices, and hospitals, which means a huge potential jump for the global institutional furniture market. COVID-19 really kicked that into high gear, creating a surge in demand for top-notch healthcare facilities. And it's not just about building – it's about making healthcare accessible. With schemes and policies offering financial help like income tax rebates and reimbursement policies, we're seeing even more investment in healthcare facilities packed with the latest tech and quality infrastructure. All those beds, waiting room chairs, and diagnostic room setups? They're all about making patients comfortable, which is why the demand for institutional furniture is taking off. Then there's education! More and more families can afford to send their kids to private schools, which is pushing the need for comfortable, stylish, and fun furniture to create a better learning environment. Back in 2018, the United States had around 130,000 schools! As we build more public and private facilities, the demand for institutional furniture is only going to grow. Basically, more quality buildings and more companies making awesome furniture means things are looking good for the market in the coming years.
Thriving E-Commerce Sector Supports the Market Growth
To get ahead, companies are finding new ways to sell, like online channels. An E-commerce platform helps them reach more customers, both at home and abroad, faster! You'll see companies building their own websites and apps, or selling on giants like Amazon and Flipkart – and this is really driving demand. Plus, it's hard to resist those lower prices and doorstep delivery! These online stores put everything in one place, making it a breeze to compare specs, space, and size, so customers can easily find exactly what they need. With both online and offline options growing, the next five years look bright for the global institutional furniture market!
Market Segmentation
The global institutional furniture market is segmented by type, end use, distribution channel, regional distribution, and competition landscape
Market Players
Fleetwood Group, HNI Corporation, Herman Miller Inc., Steelcase Inc., Scholar Craft Products, Inc., Knoll Inc., Smith System Mfg. Co, VS America, Inc., Agati Furniture, are among the major market players in the global platform that lead the market growth of the global institutional furniture market.
| Attribute | Details |
| Base Year | 2021 |
| Historic Data | 2017 – 2020 |
| Estimated Year | 2022 |
| Forecast Period | 2023 – 2027 |
| Quantitative Units | Revenue in USD Million, and CAGR for 2017-2021 and 2022-2027 |
| Report coverage | Revenue forecast, company share, competitive landscape, growth factors, and trends |
| Segments covered | · Type · End Use · Distribution Channel |
| Regional scope | North America; Europe; Asia Pacific; South America; Middle East & Africa |
| Country scope | United States; Canada; Mexico; France; Germany; United Kingdom; Italy; Spain; China; India; Japan; South Korea; Australia; Brazil; Argentina; Colombia; UAE; Saudi Arabia; South Africa; |
| Key companies profiled | Fleetwood Group, HNI Corporation, Herman Miller Inc., Steelcase Inc., Scholar Craft Products, Inc., Knoll Inc., Smith System Mfg. Co, VS America, Inc., Agati Furniture |
| Customization scope | 10% free report customization with purchase. Addition or alteration to country, regional & segment scope. |
| Pricing and purchase options | Avail customized purchase options to meet your exact research needs. Explore purchase options |
| Delivery Format | PDF and Excel through Email (We can also provide the editable version of the report in PPT/Word format on special request) |
