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Report Overview
2023
Base Year
2018-2023
Historical Year
2024-2032
Forecast Year
Global Office Furniture Market Size
The global office furniture market reached a value of nearly USD 62.31 billion in 2023. The market is projected to grow at a CAGR of 4.1% between 2024 and 2032 to reach around USD 88.85 billion by 2032.
Key Takeaways
- The global office furniture market is driven by a shifting trend from the manufacturing economy to the digital economy in developing countries.
- Haworth Inc., MillerKnoll, Inc., and Steelcase Inc. are a few of the major companies in the market.
- The United States has the most startups worldwide at 77,195, followed by India at 16,103, as of November 2023.
The increasing demand for co-working spaces drives the office furniture market. Co-working spaces offer cost savings and convenience by sharing common infrastructure. Such spaces also provide opportunities for networking with other companies and start-ups. In 2022, the global average capacity of co-working spaces was approximately 98 workstations across regions like the Asia Pacific, Central America, Europe, North America, and Latin America.
One of the major factors driving the office furniture market growth is the growing demand for sustainable and environmentally sound furniture, which is encouraging manufacturers to adopt green products that help in reducing waste disposal, pollution levels, and deforestation. The enactment of several programmes by governments across the globe to boost start-ups through the introduction of favourable policies aimed at driving sustainability are further aiding the market.
Office Furniture Market Report Snapshots
Office Furniture Market Trends
Office Furniture Market Regional Analysis
*While we strive to always give you current and accurate information, the numbers depicted on the website are indicative and may differ from the actual numbers in the main report. At Expert Market Research, we aim to bring you the latest insights and trends in the market. Using our analyses and forecasts, stakeholders can understand the market dynamics, navigate challenges, and capitalize on opportunities to make data-driven strategic decisions.*
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Key Questions Answered in the Report
In 2023, the global market value was approximately USD 62.31 billion.
The market is projected to grow at a CAGR of 4.1% between 2024 and 2032.
The market is estimated to witness a healthy growth in the forecast period of 2024-2032 to reach USD 88.85 billion by 2032.
The major market drivers include growing popularity of co-working spaces and government initiatives aimed at boosting startup culture.
The key trends include growing concerns about employee health and productivity, increasing popularity of aesthetically pleasing modern offices, and growing demand for sustainable and environmentally sound furniture.
The different types of office furniture include seating, systems, tables, storage units and file cabinets, and overhead bins, among others.
Major price range of office furniture include low, medium, and high.
The major players in the market include Haworth Inc., MillerKnoll, Inc., Steelcase Inc., Bene GmbH, Stoll AG, Kimball International, Inc., and KOKUYO Co., Ltd.
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