Office furniture market

The eco-friendly furniture market is anticipated to rise at a healthy 6% CAGR through the end of the projection period in 2030. The coronavirus pandemic is having a substantial impact on the global economy and has resulted in the temporary closure of businesses around the world, impacting international trade and furniture supply chains. These factors are projected to adversely affect the eco-friendly furniture market in the near term, until restrictions on trade and logistics are removed.

The Fact.MR report states that, a shift in consumer behavior towards using disposable income on essential commodities will also reduce eco-friendly furniture sales. Poor prospects of the housing sector in the short term will also hinder the market. The pandemic, coupled with the lingering effects of the U.S. - China trade war will hold back the eco-friendly furniture industry in the months to come. On the other hand, the growing popularity of green building and construction activities will help in market recovery once the restrictions are relaxed.

"Growing varieties of furniture designs and specifications for myriad applications including outdoors, drawing room, bedroom, and dining, is propelling sales of eco-friendly furniture through online distribution channels. Further, investments in online delivery services, discounts, doorstep delivery, and flexible payment options will propel market growth once the outbreak is bought under control," says the Fact.MR analyst.

Fact.MR has adopted multi-disciplinary approach to shed light on the evolution of the global Eco-Friendly Furniture market during the historical period of 2014 – 2018. The study presents a deep-dive assessment of the current growth dynamics, major avenues in the estimation year of 2020, and key prospects over the forecast period 2020 – 2030. The Eco-Friendly Furniture market study includes a thorough analysis of the overall competitive landscape and the company profiles of leading market players involved in the global Eco-Friendly Furniture market. Further, the presented study offers accurate insights pertaining to the different segments of the global Eco-Friendly Furniture market such as the market share, value, revenue, and how each segment is expected to fair post the COVID-19 pandemic.

The global eco-friendly furniture market will keep generating revenues at a steady 6% CAGR during the forecast period (2020 - 2030). Extensive rounds of primary and a comprehensive secondary research have been leveraged by the analysts at Fact.MR to arrive at various estimations and projections of the Eco-Friendly Furniture market, both at global and regional levels. The analysts have used numerous industry-wide prominent business intelligence tools to consolidate facts, figures, and market data into revenue estimations and projections in the Eco-Friendly Furniture market.

After reading the Eco-Friendly Furniture market report, readers get insight into: 

The global office furniture market is expected to create ~ US$ 22 Billion worth of incremental opportunity over the forecast period. Since the last two decades, the number of small, micro, and medium-sized enterprises has increased drastically in developed and developing countries. However, the office furniture market is highly fragmented and manufacturers’ efforts for organizing the industry have supported the global supply chain rigorously. With this, consumers are exposed to a wide range of office furniture to choose either from a retail store or through an online platform. Fact.MR found that the office furniture market is expected to grow with ~ 7% CAGR in the forecast period.

The global Office Furniture Market study presents an all in all compilation of the historical, current and future outlook of the Market as well as the factors responsible for such a growth. With SWOT analysis, the business study highlights the strengths, weaknesses, opportunities and threats of each Office Furniture Market player in a comprehensive way. Further, the Office Furniture Market report emphasizes the adoption pattern of the Office Furniture across various industries.

The Office Furniture Market report highlights the following players:

Fact.MR’s report on Global Office Furniture Market

The global office furniture market is expected to create ~ US$ 22 Billion worth of incremental opportunity over the forecast period. Since the last two decades, the number of small, micro, and medium-sized enterprises has increased drastically in developed and developing countries. However, the office furniture market is highly fragmented and manufacturers’ efforts for organizing the industry have supported the global supply chain rigorously. With this, consumers are exposed to a wide range of office furniture to choose either from a retail store or through an online platform. Fact.MR found that the office furniture market is expected to grow with ~ 7% CAGR in the forecast period.

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In a recent business intelligence study, Fact.MR presents the nitty-gritty of the global Office Furniture market considering 2014-2018 as the historic year and 2019–2029 as the stipulated timeframe. The business report highlights the drivers, restraints, opportunities and trends affecting market growth. Further, all the market shares associated with the market as well as the segments are expressed in terms of value and volume.

Office chair market prospects are likely to be significantly influenced by surging number of startups. Influx of entrepreneurs in developed and emerging markets has created the requirement for tech parks as well as office spaces, which in turn has favored growth of the office chair market in recent years. In terms of value, the office chair market size was estimated at nearly US$ 7330 Mn in 2017 by a recently developed Fact.MR study.

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North America continues to be the tip of the spear in the office chair market, with the report estimating over 50,000,000 units of office chair to be sold in the region by 2028-end. The office chair market in North America remains consolidated in the U.S., underpinned by increased focus on the work-space aesthetics and emergence of online furniture stores. Office chair manufacturers in the U.S. leverage the online sales platforms, in light of their inherent benefits such as reduced rental space and remarkable decline in inventory.