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The US - Office Furniture Market size is forecast to increase by USD 5.68 billion, at a CAGR of 6.92% between 2023 and 2028. The growth of the market depends on several factors such as the growing popularity of ready-to-assemble furniture, the increasing preference for eco-friendly office furniture, and the emergence of online furniture stores
The report offers extensive research analysis on the US - Office Furniture Market, with a categorization based on Product, including seating, table, system, storage unit, and file and overhead bins. It further segments the market by End-user, encompassing commercial and home office. In addition, Material is segmented by wood, metal, and others. Additionally, the report provides Distribution Channel segmentation, covering offline and online. Market size, historical data (2018-2022), and future projections are presented in terms of value (in USD billion) for all the mentioned segments.
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Our researchers analyzed the data with 2023 as the base year, along with the key drivers, trends, and challenges. A holistic analysis of drivers will help companies refine their marketing strategies to gain a competitive advantage.
One of the key factors driving the market growth is the increasing preference for eco-friendly office furniture. There is an increasing awareness of eco-friendly and green furniture in the Americas. In addition, rising concerns for the preservation of the environment and increasing deforestation worldwide are encouraging furniture manufacturers to adopt green solutions for their products, which are set to impact market growth positively.
Moreover, the market competitors today are considering long-term ecological sustainability while manufacturing furniture products. For example, the wood that is used is sourced from sustainably sourced forests, metals used include a minimum recycled content, and substances or preparations that contain heavy metals or tri-organic contents are not used. Hence, such factors are driving the market growth during the forecast period.
A key factor shaping the market growth is the rising customization of office furniture. Office space requirements are designed as per the preferences of the employer. In addition, there is an increased demand for customized office furniture according to their theme and work culture. Furthermore, the customization of office furniture is primarily in terms of its color and size.
Moreover, the growing preference for customized office furniture is expected to help the growth of the regional market in the coming years in terms of value. In addition, customized pieces of furniture leave a positive impact on the employees and help increase their efficiency and creativity. Furthermore, they are also associated with functionality and comfort. Hence, such factors are driving the market growth during the forecast period.
Fluctuation in prices of raw materials is one of the key challenges hindering market growth. The volatility in the costs of raw materials and assembly components used in the manufacturing process of furniture is a key concern that is impeding market growth. In addition, this adversely affects the profit margins of manufacturers and retailers.
Moreover, the cost of raw materials like steel, plastics, textiles, wood particleboard, and cartons has increased considerably. In addition, steel, wood or wood-related products, and aluminum are the most important raw materials used in the manufacture of furniture. Furthermore, the cost of wood particleboard has also increased because of volatility in input and transportation costs as well as continued downsizing of the production capacities of furniture manufacturers. Hence, such factors are hindering the market growth during the forecast period.
The market research report includes the adoption lifecycle of the market, covering from the innovator’s stage to the laggard’s stage. It focuses on adoption rates in different regions based on penetration. Furthermore, the report also includes key purchase criteria and drivers of price sensitivity to help companies evaluate and develop their growth strategies.
Customer Landscape
Companies are implementing various strategies, such as strategic alliances, partnerships, mergers and acquisitions, geographical expansion, and product/service launches, to enhance their presence in the market.
Affordable Interior Systems Inc: The company offers office furniture such as Calibrate private office, Calibrate reception, Height adjustable tables, Day to day collaborative tables, and Multi purpose tables.
The research report also includes detailed analyses of the competitive landscape of the market and information about 20 market companies, including:
Qualitative and quantitative market growth analysis of companies has been conducted to help clients understand the wider business environment as well as the strengths and weaknesses of key market players. Data is qualitatively analyzed to categorize companies as pure play, category-focused, industry-focused, and diversified; it is quantitatively analyzed to categorize companies as dominant, leading, strong, tentative, and weak.
The seating segment is estimated to witness significant growth during the forecast period. The seating segment of the regional market comprises ergonomic chair stools, swivel and stacking chairs, and benches. In addition, the expansion of office spaces and a rise in the number of employees in the US are expected to fuel the office seating segment.
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The seating segment was the largest segment and was valued at USD 4.02 billion in 2018. Moreover, the latest offerings in the segment include wide, bariatric, deep, and programmable ergonomic seating that enhances the user's comfort level for long hours. In addition, a shift in workspace furniture from formal to informal and the evolution of workspace furniture designs are expected to influence the growth of this market segment. Furthermore, the demand for adjustable tables and chairs is increasing and is expected to fuel the growth of this segment which in turn drives the market growth during the forecast period.
The market report forecasts market growth by revenue and provides market research and growth analysis of the latest market trends and analysis and growth opportunities from 2018 to 2028.
US - Office Furniture Market Scope |
|
Report Coverage |
Details |
Page number |
168 |
Base year |
2023 |
Historic period |
2018-2022 |
Forecast period |
2024-2028 |
Growth momentum & CAGR |
Accelerate at a CAGR of 6.92% |
Market Growth 2024-2028 |
USD 5.68 billion |
Market structure |
Fragmented |
YoY growth 2023-2024(%) |
5.92 |
Competitive landscape |
Leading Companies, Market Positioning of Companies, Competitive Strategies, and Industry Risks |
Key companies profiled |
Affordable Interior Systems Inc., Alan Desk Business Interiors Inc., Artopex, Ashley Global Retail LLC, Flexsteel Industries Inc., Global Furniture Group, Haworth Inc., HNI Corp., Ideal Office Solutions, Indiana Furniture, Kimball International Inc., Knoll Inc., KOKUYO Co. Ltd., Logiflex, MillerKnoll Inc., Office Direct, Okamura Corp., Panel Systems Unlimited, Steelcase Inc., and Tayco |
Market dynamics |
Parent market analysis, Market growth inducers and obstacles, Fast-growing and slow-growing segment analysis, COVID-19 impact and recovery analysis and future consumer dynamics, and Market condition analysis for the forecast period. |
Customization purview |
If our report has not included the data that you are looking for, you can reach out to our analysts and get segments customized. |
We can help! Our analysts can customize this market research report to meet your requirements.
1 Executive Summary
2 Market Landscape
3 Market Sizing
4 Historic Market Size
5 Five Forces Analysis
6 Market Segmentation by Product
7 Market Segmentation by End-user
8 Market Segmentation by Material
9 Market Segmentation by Distribution Channel
10 Customer Landscape
11 Drivers, Challenges, and Trends
12 Vendor Landscape
13 Vendor Analysis
14 Appendix
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