U.S. Office Furniture Industry Overview
The U.S. office furniture market size was valued at USD 14.0 billion in 2021 and is expected to expand at a compound annual growth rate (CAGR) of 5.3% from 2022 to 2030.
One of the major factors impacting the market growth over the forecast period is the increasing building of households, offices, and commercial complexes. The growing number of people working from home or from remote locations is increasing the demand for home office equipment among retailers and manufacturers. Customers are attracted to smart, comfy, and flexible furniture design because of the easy and quick delivery alternatives.
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In addition, the rapid creation of IT parks and commercial zones has resulted in an increase in the number of corporate offices, resulting in a need for contemporary office furniture all over the world. Organizations are also creating informal office areas to improve colleague communications, collaborative environments, and social connections. As a result of this trend, office furniture makers have begun to produce intelligently designed furniture. Aside from that, due to technological advancements and an increase in the number of cases of health issues caused by employees' sedentary lifestyles, there has been an increase in the demand for smart workplace furniture that provides internet connectivity while also promoting better posture and movement support. During the projection period, this factor is projected to have a substantial impact on the demand for office furniture.
Moreover, one of the primary factors propelling the market growth is the widespread adoption of the work-from-home (WFH) paradigm as a result of the coronavirus (Covid-19) pandemic. Because of the unexpected spread of the infection and the statewide lockdown, many people are continuing to work from home, which is boosting the demand for comfortable and sturdy office furniture for home offices.
Furthermore, to strengthen their distribution network, many key players in the office furniture sector are forming agreements with e-commerce retail stores. The demand for office furniture grew in tandem with the exponential growth of commercial buildings and service sector jobs. Another factor projected to boost the market growth is an increase in the number of start-ups and corporate expansions. The market growth is expected to be fueled by the increased demand for office space and employment.
COVID-19 has expedited a number of preexisting trends in the commercial property market surrounding health and wellbeing, activity-based working, flexibility, and the need for greater space use, in the American market, according to an ARUP report published in June 2020 titled Future of offices: in a post-pandemic world. The commercial offer is also being reshaped by sustainability, smart buildings, and the digital workplace. Taken together, these trends and changes will have a significant impact on the kind of workplaces that will be required in the aftermath of a pandemic.
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U.S. Office Furniture Market Segmentation
Grand View Research has segmented the U.S. office furniture market on the basis of product and distribution channel:
- U.S. Office Furniture Product Outlook (Revenue, USD Million, 2017 - 2030)
- Seating
- Modular Systems
- Desks Tables
- Others
- U.S. Office Furniture Distribution Channel Outlook (Revenue, USD Million, 2017 - 2030)
- Online
- Offline
Key Companies profiled:
Some prominent players in the global U.S. Office Furniture market include
- Haworth
- Herman Miller Inc.
- HNI Corporation
- Knoll
- Steelcase
- Ashley Furniture Industries Inc.
- Global Furniture Group
- Kimball International Inc.
- Okamura Corp.
- Interior Systems, Inc.
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About Grand View Research
Grand View Research, U.S.-based market research and consulting company, provides syndicated as well as customized research reports and consulting services. Registered in California and headquartered in San Francisco, the company comprises over 425 analysts and consultants, adding more than 1200 market research reports to its vast database each year. These reports offer in-depth analysis on 46 industries across 25 major countries worldwide. With the help of an interactive market intelligence platform, Grand View Research Helps Fortune 500 companies and renowned academic institutes understand the global and regional business environment and gauge the opportunities that lie ahead.
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