Market Forecast By Types (Seating, Tables, Storage, Desks, Other ), By Distribution Channel (Home Centers, Flagship Stores, Specialty Stores, Online Stores, Other ) And Competitive Landscape
Product Code: ETC017361 | Publication Date: Sep 2024 | Updated Date: Sep 2024 | Product Type: Report | |
Publisher: 6Wresearch | No. of Pages: 70 | No. of Figures: 35 | No. of Tables: 5 | |
Report Name | United States Office Furniture Market |
Forecast period | 2024-2030 |
CAGR | 4.3% |
Growing Sector | Corporate |
The United States Office Furniture Market report comprehensively covers the market by Types and Distribution Channel. The report offers an in-depth and thorough analysis of the current market trends, opportunities/high growth areas, and market drivers that will aid stakeholders in formulating and aligning their market strategies in accordance with the present and future market dynamics.
The United States Office Furniture Market is projected to see significant growth during the forecast period. The growth can be ascribed to the rising demand for office furniture in the expanding corporate and home office sectors.
According to 6Wresearch, the United States Office Furniture Market is predicted to grow at a CAGR of 4.3% during the forecast period. The growth of the United States Office Furniture Market can be attributed to various factors such as the increasing number of corporate and home offices, rapid urbanization, and the growing trend of remote working. With more companies adopting flexible work arrangements and employees preferring to work from home, there is a higher demand for ergonomic and comfortable office furniture. Moreover, with the rise in construction activities and commercial real estate developments in major cities across the US, there is a surge in demand for office space, which further drives the market for office furniture. Additionally, technological advancements have led to the emergence of smart and connected office furniture that offers enhanced functionality and convenience, thereby boosting market growth.
Despite the positive growth prospects, there are some challenges faced by the United States Office Furniture Market. One major challenge is the high cost associated with quality office furniture. Many small and medium-sized businesses may not have the budget to invest in premium office furniture, leading them to opt for cheaper alternatives or used furniture. Additionally, fluctuations in raw material prices can also impact market growth as it directly affects the pricing of office furniture products.
Key players in the United States Office Furniture Market include international brands like Steelcase Inc., Herman Miller, Inc., HNI Corporation, Knoll, Inc., and Haworth, Inc. These companies are investing in R&D to create innovative and comfortable office furniture to expand their reach within the market. Currently, Herman Miller holds the biggest share in the market.
The government has a significant role to play in the growth of the United States Office Furniture Market. The Occupational Safety and Health Administration (OSHA) sets workplace safety standards that include ergonomic furniture requirements, ensuring employee health and productivity. Additionally, initiatives like the Leadership in Energy and Environmental Design (LEED) certification promote sustainable building practices, which includes using environmentally friendly office furniture. Furthermore, the current has also led to new regulations for office spaces with a focus on social distancing and sanitization measures. This has resulted in an increased demand for adaptable and mobile office furniture solutions.
The United States Office Furniture Market is expected to continue its growth trajectory in the coming years. The rise of remote working and the need for adaptability and sustainability will drive the demand for innovative office furniture solutions. Additionally, with the increasing focus on employee wellness and productivity, companies are expected to invest more in high-quality office furniture. The trend of smart offices equipped with connected furniture is also expected to gain momentum, further boosting market growth. The use of virtual reality technology in office design and planning is another emerging trend that is expected to impact the market positively. This technology allows customers to visualize their workspace before making a purchase decision, leading to a more personalized experience.
According to Dhaval, Research Manager, 6Wresearch, Seating holds the dominant market share due to its increasing demand from the corporate and home office sectors.
Online Stores are expected to hold the dominant share due to the convenience and wide variety of choices they offer.
1 Executive Summary |
2 Introduction |
2.1 Key Highlights of the Report |
2.2 Report Description |
2.3 Market Scope & Segmentation |
2.4 Research Methodology |
2.5 Assumptions |
3 United States Office Furniture Market Overview |
3.1 United States Country Macro Economic Indicators |
3.2 United States Office Furniture Market Revenues & Volume, 2020 & 2030F |
3.3 United States Office Furniture Market - Industry Life Cycle |
3.4 United States Office Furniture Market - Porter's Five Forces |
3.5 United States Office Furniture Market Revenues & Volume Share, By Types, 2020 & 2030F |
3.6 United States Office Furniture Market Revenues & Volume Share, By Distribution Channel, 2020 & 2030F |
4 United States Office Furniture Market Dynamics |
4.1 Impact Analysis |
4.2 Market Drivers |
4.3 Market Restraints |
5 United States Office Furniture Market Trends |
6 United States Office Furniture Market, By Types |
6.1 United States Office Furniture Market, By Types |
6.1.1 Overview and Analysis |
6.1.2 United States Office Furniture Market Revenues & Volume, By Types, 2020 - 2030F |
6.1.3 United States Office Furniture Market Revenues & Volume, By Seating, 2020 - 2030F |
6.1.4 United States Office Furniture Market Revenues & Volume, By Tables, 2020 - 2030F |
6.1.5 United States Office Furniture Market Revenues & Volume, By Storage, 2020 - 2030F |
6.1.6 United States Office Furniture Market Revenues & Volume, By Desks, 2020 - 2030F |
6.1.7 United States Office Furniture Market Revenues & Volume, By Other , 2020 - 2030F |
6.2 United States Office Furniture Market, By Distribution Channel |
6.2.1 Overview and Analysis |
6.2.2 United States Office Furniture Market Revenues & Volume, By Home Centers, 2020 - 2030F |
6.2.3 United States Office Furniture Market Revenues & Volume, By Flagship Stores, 2020 - 2030F |
6.2.4 United States Office Furniture Market Revenues & Volume, By Specialty Stores, 2020 - 2030F |
6.2.5 United States Office Furniture Market Revenues & Volume, By Online Stores, 2020 - 2030F |
6.2.6 United States Office Furniture Market Revenues & Volume, By Other , 2020 - 2030F |
7 United States Office Furniture Market Import-Export Trade Statistics |
7.1 United States Office Furniture Market Export to Major Countries |
7.2 United States Office Furniture Market Imports from Major Countries |
8 United States Office Furniture Market Key Performance Indicators |
9 United States Office Furniture Market - Opportunity Assessment |
9.1 United States Office Furniture Market Opportunity Assessment, By Types, 2020 & 2030F |
9.2 United States Office Furniture Market Opportunity Assessment, By Distribution Channel, 2020 & 2030F |
10 United States Office Furniture Market - Competitive Landscape |
10.1 United States Office Furniture Market Revenue Share, By Companies, 2023 |
10.2 United States Office Furniture Market Competitive Benchmarking, By Operating and Technical Parameters |
11 Company Profiles |
12 Recommendations |
13 Disclaimer |
Product Code: ETC017361 | Publication Date: Jun 2023 | Product Type: Report | |
Publisher: 6Wresearch | No. of Pages: 70 | No. of Figures: 35 | No. of Tables: 5 |
The United States (US) office furniture market is expected to reach a value of USD 45.6 billion by 2026, registering a CAGR of 3.8% during the forecast period (2020-2026). The increasing deployment of flexible workspaces and open offices across the country have boosted the demand for ergonomic office furniture. Moreover, organizations are replacing old systems with advanced and eco-friendly products as they focus more on sustainability in operations. As an instance, IKEA recently introduced its new range of sustainable home and office furniture made from wood sourced from responsibly managed forests or recycled materials such as plastic bottles or textiles scraps. This factor is likely to drive the market growth over the coming years. Furthermore, there has been an increase in M&A activities in this sector due to which players are able to expand their product portfolios and strengthen their geographic presence globally. For example, Herman Miller Inc., one of the leading manufacturers in this industry acquired Design Within Reach Inc., a modern furnishings retailer based out of Connecticut for around USD 154.1 million in 2018 enabling it to expand into consumer retail business segment too
Key Players: Some major key players operating in US Office Furniture Market include HNI Corporation , Steelcase Inc., Kimball International Inc., Haworth Inc., KI (Krueger International) , Grand Rapids Chair Company LLC , Herman Miller Incorporated , Hon Company Alphason Designs Ltd amongst others.