Global Contract Furniture Market Size study & Forecast, by Product (Chairs & Stools, Tables & Desks, Storage Furniture, Sofa & Couch, Others) by End-user (Government, Corporate Offices, Institutional, Healthcare/Medical Facilities, Hospitality, Others), b

Global Contract Furniture Market Size study & Forecast, by Product (Chairs & Stools, Tables & Desks, Storage Furniture, Sofa & Couch, Others) by End-user (Government, Corporate Offices, Institutional, Healthcare/Medical Facilities, Hospitality, Others), by Distribution Channel (Online, Offline) and Regional Analysis, 2022-2029

Global Contract Furniture Market is valued approximately USD 133.40 billion in 2021 and is anticipated to grow with a healthy growth rate of more than 5.10% over the forecast period 2022-2029. Any furniture that is created and made for business installation in waiting areas, lobbies, offices, and other high-traffic areas is referred to as contract furniture. The market is primarily driven by the rising demand for business furniture in various parts of the world. The industry's development is being accelerated by the steadily growing use of contract furniture in commercial settings like corporate parks, healthcare/medical facilities, five-star hotels & restaurants, and institutions. Additionally, the development of the office space market is being aided by the rising number of startups around the world. Moreover, the rising initiative by the key market players is creating lucrative growth opportunity for the market over the forecast period.

According to Startup Ranking, as of August 24, 2022, about 73,254 companies were doing business in the United States. Additionally, Google and Meta have been investing billions of dollars in enlarging their workplace facilities. As an illustration, the parent company of Facebook, Meta, has expanded its space in Silicon Valley, Texas, Boston, Chicago, Austin and Bellevue, Washington, in addition to leasing 730,000 square feet in Midtown Manhattan in August 2020. Over the forecast term, such initiatives are anticipated to enhance industry growth. However, the high cost of Contract Furniture stifles market growth throughout the forecast period of 2022-2029.

The key regions considered for the Global Contract Furniture Market study includes Asia Pacific, North America, Europe, Latin America, and Rest of the World. Asia-Pacific dominates the market space over the forecast period 2022-2029 due to the rising demand for operational spaces and the expansion of office and corporate building development throughout the region. Additionally, as the working populace has grown, so have the number of offices, which has increased the demand for office furniture. Furthermore, China is one of the world’s top producers and exporters of commercial furniture. From 2022 to 2029, the Middle East and Africa area is anticipated to experience the second-fastest growth rate. This expansion can be ascribed to the growing demand for office space as well as the expanding hospitality sector. The increased demand for furniture in places such as coffee shops, bars, and restaurants, among other end-users, is also speeding up market growth.

Major market player included in this report are:
Haworth Inc.
Herman Miller Inc.
Kinnarps Ab
Steelcase Inc.
HNI Corp.
Knoll Inc.
OFS Brands Inc.
Global Furniture Group
Kimball International Inc.
Teknion Corp.

Recent Developments in the Market:
 In July 2022, HNI Corp. announced that it had completed the sale of its Lamex office furniture company, which it had operated in China and Hong Kong, to Kokuyo Co., Ltd. for USD 75 million.
 The merger of Herman Miller and Knoll in 2021 created the dominant leader in contemporary design, which sparked a transformation of the home and workplace.
Global Contract Furniture Market Report Scope:
Historical Data 2019-2020-2021
Base Year for Estimation 2021
Forecast period 2022-2029
Report Coverage Revenue forecast, Company Ranking, Competitive Landscape, Growth factors, and Trends
Segments Covered Product, End-user, Distribution Channel, Region
Regional Scope North America; Europe; Asia Pacific; Latin America; Rest of the World

The objective of the study is to define market sizes of different segments & countries in recent years and to forecast the values to the coming years. The report is designed to incorporate both qualitative and quantitative aspects of the industry within countries involved in the study.

The report also caters detailed information about the crucial aspects such as driving factors & challenges which will define the future growth of the market. Additionally, it also incorporates potential opportunities in micro markets for stakeholders to invest along with the detailed analysis of competitive landscape and product offerings of key players. The detailed segments and sub-segment of the market are explained below:
By Product:
Chairs & Stools
Tables & Desks
Storage Furniture
Sofa & Couch
Others
By End-user:
Government
Corporate Offices
Institutional
Healthcare/Medical Facilities
Hospitality
Others
By Distribution Channel:
Online
Offline

By Region:
North America
U.S.
Canada
Europe
UK
Germany
France
Spain
Italy
ROE
Asia Pacific
China
India
Japan
Australia
South Korea
RoAPAC
Latin America
Brazil
Mexico
Rest of the World

Companies Mentioned
Haworth Inc.
Herman Miller Inc.
Kinnarps Ab
Steelcase Inc.
HNI Corp.
Knoll Inc.
OFS Brands Inc.
Global Furniture Group
Kimball International Inc.
Teknion Corp.

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