School Furniture Market - Growth, Trends, COVID-19 Impact, and Forecasts (2022 - 2027)

School Furniture Market - Growth, Trends, COVID-19 Impact, and Forecasts (2022 - 2027)

Key Highlights

• Students spend many hours in the classroom and the selection of school furniture plays an important role in the wellness of children and teachers in the school. Inappropriate and uncomfortable chairs can harm the wellness of teachers and children's performance.
• Focus on the educational sector in rural and urban areas, along with basic access to education to children all over the world, is impacting the growth of the school furniture market.
• Growth in government budgets in various countries, increasing education expenditures, the launch of new products according to innovations, the renovation of old technology and furniture in the school are expected to influence the market positively.
• Demand for flexible chairs and issues related to growing concerns over children's posture is expected to positively drive the market studied.
• The use of ergonomic chairs for comfortable seating is driving the growth of the market studied. There has been an increase in demand for multi-functional chairs and tables that are used in classrooms, laboratories, and labs, etc.
• The use of eco-friendly products in manufacturing school furniture is one of the key market trends, in regard with the rising concern of people toward global warming and deforestation.

Key Market TrendsBy Application, Classroom Furniture Dominating the School Furniture Market

The classroom segment accounted for the largest share in terms of revenue in 2018. An increase in the enrolment of the students all across the world has increased the demand for chairs and tables in the classrooms as they are necessary for the school to function. An increase in the innovation of raw material used for classroom furniture is leading to collaborations, renovations, and ergonomically derived furniture for the classrooms. More and more schools, therefore, are looking to replace their traditional school furniture to remain aesthetically appealing to parents and children and make the classroom environment pleasant. The introduction of the swivel chair with ergonomic features has been a recent addition to many schools.

However, the library and labs section is also poised to show strong growth in the forecast period. Increased requirements for large storage space, along with flexible seating will drive the market.

North America is Dominating the School Furniture Market in Terms of Revenue Generation

The growth of the economy and rising focus on aesthetics is leading to the demand for luxury furniture from schools across North America. There is a production of technologically advanced and innovative school furniture in the region which is replacing traditional school furniture. The United States is dominating the market studied in the region, although Canda is expected to grow fast, owing to the opening of international schools in the country. Thus, this will lead to the demand for modern, luxury, and multi-functional school furniture in the region, further fueled by the demand for eco-friendly furniture.

However, the Asia-Pacific region is expected to grow the fastest. The growth of the region is mainly because of the rising focus on education in the developing economies, the opening of private schools, enrollment of children from rural and urban areas, and focus on extracurricular activities in the region.

Competitive Landscape

The market studied is fragmented and competitive in nature. Companies are innovating in the market in terms of products for seating, lab, and storage, to stay competitive. Major players in the market studied are Fleetwood, Ballen Panels Ltd, Scholar Craft, CBT Supply Dba Smartdesks, and VS America Inc.

Additional Benefits:

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

Companies Mentioned
 
GREAT EASTERN LIFE ASSURANCE (MALAYSIA) BERHAD
ETIQA GENERAL TAKAFUL BERHAD
ALLIANZ MALAYSIA BERHAD.
SYARIKAT TAKAFUL MALAYSIA BERHAD
AMGENERAL INSURANCE BERHAD
MSIG INSURANCE (MALAYSIA) BHD
MNRB HOLDINGS BERHAD
AIA BHD.
ZURICH LIFE INSURANCE MALAYSIA BERHAD
RHB INSURANCE BERHAD

Please note: This publisher does offer titles that are created upon receipt of order. If you are purchasing a PDF Email Delivery option above, the report will take approximately 2 business days to prepare and deliver.