Office Furniture Market By Material (Wood, Plastic & Fiber, Glass, Metal, Others) , By Type (Tables, Overhead Bins, Seating, Storage Units & File Cabinets, Systems, Others) By Distribution Channel (Direct Sales, Retailers, Un-organized contractors, Online, Others) By Industrial Vertical (Automotive, Educational Institution, Offices, Healthcare, Others) : Global Opportunity Analysis and Industry Forecast, 2024-2033
Office Furniture Market
The office furniture market was valued at $60.0 billion in 2023 and is projected to reach $117.4 billion by 2033, growing at a CAGR of 7.1% from 2024 to 2033.
Office furniture comprises of objects that cater to human activities being performed in a working environment. It is specially designed to make the office space comfortable for employees and keep the facility well organized. The major objects included in office furniture include tables, chairs, desks, cabinets, storage units, and wire organizers.
Increase in the popularity of open layouts with collaborate working spaces is a significant driver of the office furniture market. Manufacturers are striving to build furnishing objects that provide personal space to working individuals and at the same time allow them to interact with others. In addition, upsurge in the establishment of start-ups and small organizations is augmenting the development of the market. A notable trend anticipated to transform the landscape of office furniture is the integration of technology into furnishings. Integrated charging stations, height-adjustable tables with footrests, and adaptable lighting fixtures are some of the major features being incorporated into modern office furniture.
However, disruptions in the supply chain of raw materials lead to pricing uncertainties, hampering the development of the market. Furthermore, economic downturns and inflation restrain the market growth as businesses obstruct unnecessary expenditures, including office furniture. On the contrary, rise in awareness regarding the importance of comfortable furnishing and flexible working spaces is presenting lucrative opportunities for the development of the office furniture market. As per an article by H&N Magazine—a UK-based luxury lifestyle magazine—functional furniture creates an enjoyable working environment and fosters a sense of satisfaction in employees. Therefore, upsurge in demand for highly adaptable and functional working space is poised to open new avenues for the office furniture market.
Segment ReviewThe office furniture market is segmented into material, type, distribution channel, industrial vertical, and region. On the basis of material, the market is divided into wood, plastic & fiber, glass, metal, and others. Depending on type, it is classified into tables, overhead bins, seating, storage units & file cabinets, systems, and others. By distribution channel, it is categorized into direct sales, retailers, un-organized contractors, online, and others. According to industrial vertical, it is segmented into automotive, educational institution, offices, healthcare, and others. Region wise, it is analyzed across North America, Europe, Asia-Pacific, and LAMEA.
Key FindingsOn the basis of material, the wood segment dominates the market share.
Depending on type, the tables segment acquires a high stake in the market.
By distribution channel, the online segment accounts for a high market share.According to industrial vertical, the offices segment is the highest shareholder in the market.
Region wise, Asia-Pacific is the highest revenue generator in the office furniture market.
Competition AnalysisThe leading players operating in the global office furniture market include Haworth Inc., Herman Miller Inc., Omega HNI Corp., Kimball International Inc., Inter IKEA Holding BV, KOKUYO Co. Ltd., OKAMURA Corp., Hooker Furniture Corp., Knoll Inc., and Steelcase Inc. These major players have adopted various key development strategies such as business expansion, new product launches, and partnerships to strengthen their foothold in the competitive market.
Key Market SegmentsBy MaterialWood
Plastic Fiber
Glass
Metal
Others
By TypeTables
Overhead Bins
Seating
Storage Units File Cabinets
Systems
Others
By Distribution ChannelDirect Sales
Retailers
Un-organized contractors
Online
Others
By Industrial VerticalAutomotive
Educational Institution
Offices
Healthcare
Others
By RegionNorth America
U.S.
Canada
Mexico
Europe
France
Germany
Italy
Spain
UK
Rest of Europe
Asia-Pacific
China
Japan
India
South Korea
Australia
Rest of Asia-Pacific
LAMEA
Brazil
South Africa
Saudi Arabia
Argentina
Rest of LAMEA
Key Market PlayersHaworth Inc.
Herman Miller Inc.
Omega HNI Corp.
Kimball International Inc.
Inter IKEA Holding BV
KOKUYO Co. Ltd.
OKAMURA Corp.
Hooker Furniture Corp.
Knoll Inc.
Steelcase Inc.