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Report Overview
2023
Base Year
2018-2023
Historical Year
2024-2032
Forecast Year
Global Office Furniture Market Analysis by Region
The Asia Pacific region is anticipated to hold a dominant position in the office furniture market. This is due to the fact that the region is a thriving hub of innovation, boasting 159 startup ecosystems in the global top 1,000 in 2023. The Asia Pacific region leads the global market for coworking spaces, hosting approximately 300 such spaces in key cities like Singapore, Hong Kong, Shanghai, Tokyo, Sydney, and Melbourne.
The market in Europe is driven by the implementation of a circular economy through sustainable product availability, subscription-based models, and improved product quality among others, in the Europe furniture industry. The region recorded a total of 6,064 sq. ft. coworking space size and more than 2500 in numbers in 2022.
North America holds a significant office furniture market share, driven by the booming startup culture. The United States has the most startups worldwide, accounting for 77,195. The demand for office furniture in North America is driven by the growing startup industry and flexible work culture. The region has over 81,009 startups as of November 2023. It has also the largest average square footage of coworking space at over 9,548 Square Feet in 2022.
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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