Global Office Furniture Market: Size & Forecasts with Impact Analysis of Covid-19 (2020-2024)
Key players of the office furniture market are Steelcase Inc., Herman Miller Inc., HNI Corporation and Okamura Corporation. These players have been profiled in the report with their financial information and business strategies.
By: Daedal Research
The report also assesses the key opportunities in the market and outlines the factors that are and will be driving the growth of the industry.
Growth of the overall global office furniture market has also been forecasted for the period 2020-2024, taking into consideration the previous growth patterns, the growth drivers and the current and future trends. Key players of the office furniture market are Steelcase Inc., Herman Miller Inc., HNI Corporation and Okamura Corporation. These players have been profiled in the report with their financial information and business strategies.
Herman Miller Inc.
The global office furniture market can be segmented on the basis of product type, material and end users. Table and desks, workstations, seatings, overhead bins and storage unit and files are the different office furniture product types. On the basis of material, the market is spilt into wood, fiberglass, plastic and metal. On the basis of end users, the market is divided into enterprise, schools and hospitals.
The global office furniture market is forecasted to grow at healthy rate over the years (2020-2024). Growth in number of start up companies, boom in e-commerce, rapid developing economy and spike in spending of furniture are the growth drivers of the market. Rising costs of raw material and increasing incidence of forest fire are the challenges faced by the market.
Adoption of sustainable production processes, near shore manufacturing, spike in demand for standing desks, growing prominence of ergonomic furniture, smart furniture and office pods are some of the latest trends existing in the market.
The essential catalyst of demand for office furniture, consisting of business sentiment and commercial construction have dried up. Furthermore, businesses are releasing workers off duty due to Covid-19. This sudden spike in unemployment has lowered demand for industry products, as many businesses have ceased expansion into new workspaces atleast for 2020.
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