The Global Office Furniture Market is expecting around 5% CAGR during 2022-27, cites MarkNtel Advisors in their recent research report. The swift expansion of the IT sector, i.e., generating numerous job opportunities and swiftly influencing the proliferation of office spaces across different regions globally, are the prime aspects driving the global market.
It, in turn, is instigating the government of different countries to build corporate spaces to meet the burgeoning requirements of rapidly establishing companies and boosting the demand for office furniture across the corporate sector.
Besides, the growing government focus across different countries on infrastructural developments & economic diversification is projecting massive investments in the IT sector and increasing construction activities across the corporate sector, i.e., directly impacting the demand for office furniture like tables, storage & cabinets, chairs, benches, sofas, couches, among others.
In addition, the growing inclination of organizations toward enhancing colleague communication & promoting a healthy work environment is augmenting the demand for informal office spaces and generating growth opportunities for manufacturers to introduce intelligently designed furniture. It is another prominent aspect projected to fuel the overall market growth through 2027, further states the research report, “Global Office Furniture Market Analysis, 2022.”
Mounting Consumer Need for Better Seating to Boost the Market through 2027
The growing establishment of multinational companies & start-ups is making it normal for people to sit for eight-nine hours a day. It, in turn, is surging the demand for comfortable chairs to bring ease to working & enhance employee productivity, i.e., driving the global market of seating furniture.
Besides, with the growing need to minimize fatigue while improving the sitting posture, organizations are investing substantially in the seating furniture and, as a result, augmenting the overall market growth through 2027. Moreover, the growing adoption of ergonomic chairs is a key growth prospect for the office furniture market, principally due to their benefits like flexibility, reduced lower back & neck pain, and incredible comfort to employees.
With Favorable Policies & Massive Investments in Corporate Sector, Asia-Pacific Dominates the Market
Massive government investments & their favorable policies for the corporate sector of different countries, i.e., leading to an increasing number of MNCs & start-ups, are the prime aspects contributing to the rapid construction of office spaces across Asia-Pacific and driving the office furniture market.
China, India, Japan, and Australia are among the prominent countries in Asia-Pacific, with massive job opportunities & establishment of organizations, i.e., infusing the demand for office furniture and fueling the overall regional market, reveals MarkNtel Advisors in their research report, "Global Office Furniture Market Analysis, 2022."
The leading players in the Global Office Furniture Market are Aurora Corporation, Fursys Inc., Global Furniture Group, HNI Corporation, Haworth, Herman Miller, Haworth, Inc., Inaba Seisakusho Co. Ltd., Itoki Corp., Inter IKEA Systems B.V., Knoll Inc., Kimball International, Kokuyo Co. Ltd., Okamura Corporation, Steelcase Inc., Uchida Yoko Global Ltd., UE Furniture Co., and 9to5 Seating.
Key Questions Answered in the Research Report