Office furniture refers to the furniture items that are specifically designed for use in an office environment. It includes desks, chairs, storage units, and other miscellaneous items required for an office setup. Office furniture provides employees with ergonomic, aesthetically pleasing, and comfortable seating solutions that enhance productivity and reduce health issues caused due to prolonged sitting. The rising preference for adjustable and flexible furniture is fueling the demand for modern office furniture equipped with height adjustment, lumbar support, and armrest options.

The global office furniture market is estimated to be valued at US$ 87842.79 Mn in 2023 and is expected to exhibit a CAGR of 6.1% over the forecast period 2023 to 2030, as highlighted in a new report published by Coherent Market Insights.

Market key trends:
The rising trend of hybrid work culture is one of the key factors driving the growth of the office furniture market. Many companies are adopting hybrid work models that allow employees to work remotely for a few days and at the office for the remaining days of the week. This has increased the demand for flexible furniture solutions that can be easily configured based on changing workspace needs. Furniture manufacturers are focusing on developing ergonomic and adaptable seating, desking, and storage units equipped with adjustable features to cater to hybrid work environments. For instance, Steelcase offers a range of height-adjustable desks, sit-to-stand desks, and storage units with modular design that can be assembled in different configurations suitable for collaborative or focused work zones. Such innovative product offerings aligned with the evolving work styles are helping companies attract and retain talent, thereby accelerating the demand in the global office furniture market.

Segment Analysis
The global office furniture market is segmented into product type, material, end-use and region. Based on product type, the market is classified into seating (office chairs, guest chairs, stools, sofas, etc.), storage units and files (bookcases, vertical files, card cabinets, etc.), workstations (desks, tables, private offices, etc.), tables (conference tables, dining tables, coffee tables, etc.) and accessories. Workstations sub-segment dominates the market holding around XX% share owing to flexibility offered as compared to other segments.

Key Takeaways
The Global Office Furniture Market Size is expected to witness high growth. The global office furniture market is estimated to be valued at US$ 87842.79 Mn in 2023 and is expected to exhibit a CAGR of 6.1% over the forecast period 2023 to 2030.

Regional analysis Europe dominates the global office furniture market with around a 38% share in 2023 owing to presence of key manufacturing companies in countries like Germany, Italy and UK. North America office furniture market is projected to grow at a CAGR of 5.8% during 2023-2030 on account of rise in number of startup companies and relocation of multinational companies in US and Canada. Asia Pacific region is expected to witness highest CAGR of 7.2% during forecast period driven by economic development, increasing number of startups in countries like China, India and Indonesia.

Key players operating in the office furniture market are China International Marine Containers (Group) Ltd., Global Furniture Group, HNI Corporation, IKEA, Kinnarps AB, Knightsbridge Office Furniture, Kokuyo Co., Ltd., Mercury Office Furniture, RitzPlus, Steelcase Inc., Teknion Corporation. Major players are focused on strategic partnerships to enhance their product portfolio and geographical presence especially in developing regions.


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