Global School Furniture Market Research Report 2023-Competitive Analysis, Status and Outlook by Type, Downstream Industry, and Geography, Forecast to 2029

Global School Furniture Market Research Report 2023-Competitive Analysis, Status and Outlook by Type, Downstream Industry, and Geography, Forecast to 2029

Market Overview:

The latest research study on the global School Furniture market finds that the global School Furniture market reached a value of USD 5152.2 million in 2022. It’s expected that the market will achieve USD 8262.86 million by 2028, exhibiting a CAGR of 8.19% during the forecast period.

Restraints

The educational furniture market is characterized by price competition, as many sales occur on a bid basis and are based on demand related to educational funding available to schools. When funding for education declines, schools typically reduce spending on all budget line items prior to reducing teacher and administrator salaries and benefits. This in turn can result in reduced demand for school furniture, which in turn can intensify price competition in School Furniture industry. This price competition could impact manufactures' ability to implement price increases or, in some cases, such as during an industry downturn, maintain prices. In addition, when market conditions warrant, suppliers may need to reduce prices to build or maintain their market share. If suppliers are unable to increase or maintain prices for products, their profit margins could decline. Such decline will be compounded to the extent suppliers are unable to maintain or reduce the cost of products, which may be especially difficult in the current environment given the volatility of the commodities markets.

School Furniture product sales are significantly affected by education funding, which is a function of tax revenues and general economic conditions. If the economy weakens, funding for education may fail to improve or decrease, which would adversely affect major players' business and results of operations. Suppliers' sales are significantly impacted by the level of education funding primarily in North America, which, in turn is a function of the general economic environment. In a weak economy, like the one that started in 2009, local tax revenues declined, restricting funding for K-12 education spending which typically leads to a decrease in demand for school furniture. Sustained depressions in the per-student funding levels provided for in-state and local budgets in the future could have a materially adverse impact on business, financial condition and results of operations as they have in the past.

Region Overview:

From 2023-2028, United States is estimated to witness robust growth prospects.

Company Overview:

The top three companies are Steelcase, FLEETWOOD GROUP, HNI Corporation with the revenue market share of 6.29%, 5.66%, 4.12% in 2020.

Steelcase leads the way in creating great experiences by offering a range of architecture, furniture and technology products and services designed to help people reach their full potential.

Steelcase’s comprehensive portfolio is anchored by three core brands: Steelcase, Coalesse and Turnstone. Together with the partners, Steelcase designs spaces to help people work, learn and heal.
And because protecting the environment is in our DNA, Steelcase drives sustainable social, economic and environmental change through our decisions and actions.

Fleetwood is a furniture manufacturer that specializes in partnering with schools to create effective learning environments. Fleetwood’s design process starts with understanding the key needs of students, teachers and administrators. Fleetwood uses these insights to design products and to discover the best way to arrange furniture throughout the school.

Segmentation Overview:

Among different product types, Desks and Chairs segment is anticipated to contribute the largest market share in 2028.

Application Overview:

By application, the Public School segment occupied the biggest share from 2018 to 2022.

Key Companies in the global School Furniture market covered in Chapter 3:

FLEETWOOD GROUP
EDUMAX
KI
Ballen Panels
Knoll
Herman Miller
Steelcase
VS
HNI Corporation

In Chapter 4 and Chapter 14.2, on the basis of types, the School Furniture market from 2018 to 2029 is primarily split into:

Desks and Chairs
Storage
Lab Equipment

In Chapter 5 and Chapter 14.3, on the basis of Downstream Industry, the School Furniture market from 2018 to 2029 covers:

Public School
Private School

Geographically, the detailed analysis of consumption, revenue, market share and growth rate, historic and forecast (2018-2029) of the following regions are covered in Chapter 8 to Chapter 14:

North America (United States, Canada)
Europe (Germany, UK, France, Italy, Spain, Russia, Netherlands, Turkey, Switzerland, Sweden)
Asia Pacific (China, Japan, South Korea, Australia, India, Indonesia, Philippines, Malaysia)
Latin America (Brazil, Mexico, Argentina)
Middle East & Africa (Saudi Arabia, UAE, Egypt, South Africa)