Australia Office Furniture - Market Share Analysis, Industry Trends & Statistics, Growth Forecasts 2020 - 2029

Australia Office Furniture - Market Share Analysis, Industry Trends & Statistics, Growth Forecasts 2020 - 2029

The Australia Office Furniture Market size is estimated at USD 2.46 billion in 2024, and is expected to reach USD 2.94 billion by 2029, growing at a CAGR of 3.54% during the forecast period (2024-2029).

Office Furniture includes desks, office chairs, storage cabinets and other items typically found in a workplace environment. The demand for office furniture is increasing due to the rising number of office spaces and employees. Inflow of multinational companies in Australia has resulted in increasing demand for fully furnished offices in the country thus increasing the demand of office furniture. Furthermore, the rise in urbanization generated increased demand for furniture from office sector. Manufacturers are offering advanced and innovative designed furniture which are healthier, comfortable, and technologically enhanced. The shrinking workspace coupled with the evolving consumer demands and the increasing number of start-ups has boosted the demand for multifunctional and customized office furniture. Moreover, smart furniture is expected to gain significant growth in the forecast period.

Australia Office Furniture Market Trends

Rise in Commercial Space Construction

Office furniture can be found in various commercial places. Office desks, office chairs, and office storage are some of the majorly used office furniture. Rising commercial construction activities are paving the way for the growth of the Australia office furniture market. Growth in commercial and office building construction and remodeling activity is anticipated to raise demand as companies furnish new office spaces. An increase in the number of corporate offices owing to the rapid construction of commercial zones is creating a demand for modernized office furniture across the region. Further, the establishment of new office spaces is expected to be the key factor behind the growth of the office furniture market during the forecast period.

Raising Number of Employees is Driving the Market for Office Furniture

The demand for office furniture is increasing due to increasing employment and emergence of new office spaces across the region. Increasing focus towards employee's comfort in the workspace in the highly competitive world is the primary factor driving the Australia office furniture market growth. The preference for customized furniture is also growing among end-users as it provides added functionality and comfort and has a positive impact on the employee's efficiency and creativity. With the increasing number of employed people across the region, the demand for new offices is also increasing. Further, new employment opportunities are believed to escalate the growth of the office furniture market.

Australia Office Furniture Industry Overview

The report covers major international players operating in the Russia Office Furniture Market. In terms of market share, some of the major players currently dominate the market. However, with technological advancement and product innovation, mid-size to smaller companies are increasing their market presence by securing new contracts and by tapping new markets.

Additional Benefits:

• The market estimate (ME) sheet in Excel format
• 3 months of analyst support