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Global Commercial Office Furniture Market Size By Product Type (Desks, Chairs, Storage Cabinets, Tables, Workstations, Cubicles, Filing Cabinets, Reception Furniture, Bookcases, Partitions), By Material (Wood, Metal, Plastic, Glass), By Style (Modern/Contemporary, Traditional/Classic, Transitional,


Published on: 2024-08-06 | No of Pages : 320 | Industry : latest updates trending Report

Publisher : MIR | Format : PDF&Excel

Global Commercial Office Furniture Market Size By Product Type (Desks, Chairs, Storage Cabinets, Tables, Workstations, Cubicles, Filing Cabinets, Reception Furniture, Bookcases, Partitions), By Material (Wood, Metal, Plastic, Glass), By Style (Modern/Contemporary, Traditional/Classic, Transitional,

Commercial Office Furniture Market Size And Forecast

Commercial Office Furniture Market size was estimated at USD 76.01 Billion in 2023 and is projected to reach USD 127.38 Billion by 2031, growing at a CAGR of 6.4% from 2024 to 2031.

  • Commercial office furniture is specifically designed and manufactured to equip workspaces.
  • This furniture caters to the needs of employees by providing functional and ergonomic seating, desks, and storage solutions.
  • It is also chosen to create an aesthetically pleasing and productive work environment.
  • Through a combination of design and functionality, commercial office furniture aims to enhance employee well-being and optimize workflow within a professional setting.

Global Commercial Office Furniture Market Dynamics

The key market dynamics that are shaping the Commercial Office Furniture Market include

Key Market Drivers

  • Evolving Workplace Needs Transformation is being witnessed in the modern workplace, with collaboration, employee well-being, and adaptability being prioritized. The Commercial Office Furniture Market meets this shift in needs through the design and production of furniture that fosters teamwork, ergonomic comfort, and flexible layouts.
  • Economic Growth and Infrastructure Development Growth is experienced by economies around the world, particularly in regions like Asia Pacific, leading to a corresponding rise in demand for office space. This results in increased investment in commercial buildings and office infrastructure, thereby fueling the demand for furniture to equip these new workspaces.
  • Focus on Sustainability and Ergonomics Environmental consciousness and employee well-being are high on the agenda for many businesses. The Commercial Office Furniture Market responds to this by offering furniture solutions crafted from sustainable materials and with ergonomic principles in mind. This ensures not only a positive environmental impact but also promotes employee health and reduces the risk of musculoskeletal strain.

Key Challenges

  • Shifting Work Models The rise of remote work and hybrid work arrangements reduces the overall demand for traditional office furniture as fewer employees require dedicated workstations. This necessitates a focus on adaptable and multifunctional furniture solutions catering to flexible work environments.
  • Economic Fluctuations Economic downturns can lead to decreased business spending, causing companies to delay or reduce investments in office furniture. Manufacturers must navigate these economic fluctuations to maintain market stability.
  • Sustainability Concerns Growing environmental awareness leads to a rise in customer demand for sustainable furniture made from recycled materials or with eco-friendly manufacturing practices. Meeting these sustainability expectations, while maintaining affordability and quality, is a challenge for furniture manufacturers.

Key Trends

  • Rise of Activity-Based WorkingTraditional, assigned workstations are making way for activity-based working environments. This trend is fueled by a need for flexible spaces that cater to diverse work styles and tasks. Furniture solutions are designed to be modular and reconfigurable, allowing employees to easily adapt their workspace based on their needs.
  • Integration of Technology The increasing use of technology in the workplace is influencing office furniture design. Desks and workstations are being equipped with features like integrated charging stations, monitor arms, and ergonomic keyboard trays to seamlessly accommodate laptops, multiple displays, and other devices.
  • Emphasis on Ergonomics and Employee Well-being There’s a growing emphasis on creating healthy and comfortable work environments to improve employee well-being and reduce musculoskeletal disorders. This is reflected in the demand for ergonomic chairs, adjustable desks, and sit-stand workstations that promote good posture and encourage movement throughout the workday.
  • Sustainability in Materials and Manufacturing Environmental consciousness is shaping the Commercial Office Furniture Market. Sustainable materials like recycled content plastics or rapidly renewable bamboo are gaining popularity. Additionally, manufacturers are implementing eco-friendly production processes to minimize environmental impact.

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Global Commercial Office Furniture Market Regional Analysis

Here is a more detailed regional analysis of the Commercial Office Furniture Market

Asia Pacific

  • As economies in this region expand, the rise in demand for office space and related furniture is expected to be significant.
  • The need for commercial office furniture is driven by increased government and private investments in infrastructure projects, including office buildings.
  • A demand for furniture solutions that promote collaboration and employee well-being is created by a growing embrace of modern work cultures in Asia Pacific.
  • Efficient production and potentially cost-competitive commercial office furniture are facilitated by the established and growing furniture manufacturing base in the region, solidifying their dominance in the market.

North America

  • Efficient production and delivery of office furniture is facilitated by a well-developed infrastructure in North America, including a strong presence of major furniture companies and established distribution channels.
  • Demand for office furniture across various sectors, including corporate headquarters, government offices, and educational institutions, is fueled by a robust and diversified economy in North America.
  • Growing awareness of employee well-being and a focus on seamlessly integrating technology into workspaces drive the demand for ergonomic and technologically advanced office furniture solutions in North America.

Global Commercial Office Furniture MarketSegmentation Analysis

The Global Commercial Office Furniture Market is segmented on the basis of Product Type, Material, Style, End-Users, and Geography.

Commercial Office Furniture Market, By Product Type

  • Desks
  • Chairs
  • Storage Cabinets
  • Tables
  • Workstations
  • Cubicles
  • Filing Cabinets
  • Reception Furniture
  • Bookcases
  • Partitions

Based on Product Type, The market is segmented into Desks, Chairs, Storage Cabinets, Tables, Workstations, Cubicles, Filing Cabinets, Reception Furniture, Bookcases, and Partitions. Chairs hold the highest market share, driven by the constant demand for ergonomic and functional seating solutions for employee comfort and well-being.

Commercial Office Furniture Market, By Material

  • Wood
  • Metal
  • Plastic
  • Glass

Based on Material, The market is segmented into Wood, Metal, Plastic, and Glass. In the Commercial Office Furniture Market, the highest market share is held by wood. Wood dominates the market due to its timeless appeal, durability, and versatility.

Commercial Office Furniture Market, By Style

  • Modern/Contemporary
  • Traditional/Classic
  • Transitional
  • Industrial
  • Minimalist

Based on Style, The market is segmented into Modern/Contemporary, Traditional/Classic, Transitional, Industrial, and Minimalist. The highest market share is held by the modern/contemporary style, characterized by sleek lines and minimalist designs, preferred for its versatility and alignment with modern workplace aesthetics.

Commercial Office Furniture Market, By End-Users

  • Corporate Offices
  • Healthcare Facilities
  • Educational Institutions
  • Government Offices
  • Hospitality
  • Retail Spaces
  • Others

Based on End-Users, The market is segmented into Corporate Offices, Healthcare Facilities, Educational Institutions, Government Offices, Hospitality, Retail Spaces, and Others. The highest market share is held by corporate offices, where commercial office furniture is extensively utilized to furnish workspaces, reflecting the prioritization of ergonomic designs and functional solutions to meet the needs of employees and enhance productivity.

Key Players

The “Global Commercial Office Furniture Market” study report will provide valuable insight with an emphasis on the global market including some of the major players such as Steelcase Inc., Kimball International Inc., Okamura Corp., Rocky Mountain Furniture Group, LLC, Intermetal, Haworth, Herman Miller, Knoll, Humanscale, National Office Furniture, HNI Corporation, Global Furniture Group, Kinnarps Holding AB, and Nightingale.

Our market analysis includes a section specifically devoted to such major players, where our analysts give an overview of each player’s financial statements, product benchmarking, and SWOT analysis.

Commercial Office Furniture Market Recent Developments

  • In April 2021, the introduction of PPG ERGOLUXE powder coatings for metal office furniture was announced by PPG Industries Ohio Inc. Offering a unique polyester-hybrid technology, styling, and sustainability benefits over traditional liquid or solvent-based coatings for seating solutions, desks, and cabinets are provided by the new coatings.
  • In September 2022, the launch of its new ergonomic chair called Steelcase Karman, which is designed to respond to the body’s movement and provide comfort naturally, was announced by Steelcase Inc. It is manufactured with a new proprietary mesh textile and an ultra-light-flexible frame.

Report Scope

REPORT ATTRIBUTESDETAILS
STUDY PERIOD

2020-2031

BASE YEAR

2023

FORECAST PERIOD

2024-2031

HISTORICAL PERIOD

2020-2022

UNIT

Value (USD Billion)

KEY COMPANIES PROFILED

Steelcase Inc., Kimball International Inc., Okamura Corp., Rocky Mountain Furniture Group, LLC, Intermetal, Haworth, Herman Miller, Knoll, Humanscale.

SEGMENTS COVERED

By Product Type, By Material, By Style, By End-Users, and By Geography.

CUSTOMIZATION SCOPE

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Research Methodology of Market Research

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Reasons to Purchase this Report

• Qualitative and quantitative analysis of the market based on segmentation involving both economic as well as non-economic factors• Provision of market value (USD Billion) data for each segment and sub-segment• Indicates the region and segment that is expected to witness the fastest growth as well as to dominate the market• Analysis by geography highlighting the consumption of the product/service in the region as well as indicating the factors that are affecting the market within each region• Competitive landscape which incorporates the market ranking of the major players, along with new service/product launches, partnerships, business expansions, and acquisitions in the past five years of companies profiled• Extensive company profiles comprising of company overview, company insights, product benchmarking, and SWOT analysis for the major market players• The current as well as the future market outlook of the industry with respect to recent developments which involve growth opportunities and drivers as well as challenges and restraints of both emerging as well as developed regions• Includes in-depth analysis of the market of various perspectives through Porter’s five forces analysis• Provides insight into the market through Value Chain• Market dynamics scenario, along with growth opportunities of the market in the years to come• 6-month post-sales analyst support

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Table of Content

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