Global Home Office Furniture Market Forecast 2022-2030

Global Home Office Furniture Market Forecast 2022-2030

KEY FINDINGS

The global home office furniture market growth is anticipated to progress at a CAGR of 6.08% during the forecast period, 2022-2030. The market growth is accredited to government incentives and exemptions, the rising number of freelance professionals, and business models incorporating technological advancements.

MARKET INSIGHTS

Home office furniture encompasses products like couches, drawers, chairs, tables, sofas, and non-decorated kitchenware. Also, these have low budgets, and hence, are affordable and aesthetically appealing. There is a growing need for equipment that raises productivity and offers comfort with regard to the home office environment, given the work-from-home trend. Accordingly, government measures globally are supplementing the furniture industry. There have been incentives and exemptions to enable local production and increase product quality.

Furthermore, the home office furniture market has also benefited from cheap interest rates in most developed nations. For instance, in 2019, to promote loaning money, the European Central Bank minimized interest rates to -035% on bank deposits. Similarly, the Bank of Japan decreased the interest rate on current accounts. Such developments have facilitated an accessible flow of capital investments in emerging and developed economies. As a result, government initiatives propel the global home office furniture market growth. However, the market growth is restrained by fluctuating raw material prices.

REGIONAL INSIGHTS

The geographical evaluation of the global home office furniture market growth includes the assessment of Europe, Asia-Pacific, North America, and Rest of World. Asia-Pacific is projected to record the fastest growth during the forecast period.

COMPETITIVE INSIGHTS

The market rivalry is high, attributed to several large companies selling the same products. Some of the prominent firms operating in the market include Humanscale, Herman Miller Inc, Ashley Furniture Industries, HNI Corporation, etc.

Our report offerings include:
• Explore key findings of the overall market
• Strategic breakdown of market dynamics (Drivers, Restraints, Opportunities, Challenges)
• Market forecasts for a minimum of 9 years, along with 3 years of historical data for all segments, sub-segments, and regions
• Market Segmentation cater to a thorough assessment of key segments with their market estimations
• Geographical Analysis: Assessments of the mentioned regions and country-level segments with their market share
• Key analytics: Porter’s Five Forces Analysis, Vendor Landscape, Opportunity Matrix, Key Buying Criteria, etc.
• Competitive landscape is the theoretical explanation of the key companies based on factors, market share, etc.
• Company profiling: A detailed company overview, product/services offered, SCOT analysis, and recent strategic developments