The World Market Office Chairs size is anticipated to expand in a steady manner owing to the development of urban spaces in several major economies, shares Fortune Business Insights in its report, titled “Office Chair Market, 2023-2030”.
Urbanization has gathered rapid traction over the past few years and is set to accelerate in the coming years as well. According to the UN, in 2018, around 55% of the global population resided in urban areas; by 2050, the UN predicts that nearly two-thirds of the world population will be housed in urban spaces. Urban areas are typically characterized by widespread residential and commercial establishments. Office chairs form a quintessential component of commercial undertakings and as these entities grow over the next few decades, the demand for professional furniture is bound to skyrocket. Moreover, the increasing availability of furniture on e-commerce platforms, such as Amazon, will further bolster the prospects of this market in the future.
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List of Key Players Profiled in the Office Chair Market Report
Haworth Inc.,
Herman Miller Inc.,
HNI Corp.
Flokk
Alera Elusion
Steelcase Inc.
GM Seating
Eurotech
Balt Butterfly
Report Highlights
The market report offers a comprehensive analysis of the existing companies whose strategies will influence the forthcoming years' market outlook. It also provides an accurate assessment of the market by highlighting data on multiple aspects that contain growth, trends, drivers, opportunities, and hindrances. In addition, the report also offers holistic insights into the regional developments shaping the market, along with tangible research into the various segments of the market.
Driving Factor
Internationalization of Office Culture to Foster Market Growth
Due to the rapid development of IT parks and commercial areas, the increasing number of corporate offices is generating a huge demand for modernized office furniture worldwide. This trend is being primarily driven by the internationalization of office culture and the adoption of modern working environments, especially in IT hubs such as India and China. Moreover, the work style and productivity of an organization's team members can be linked to the office furniture style. Thus, factors such as an expanding corporate sector, the growing real estate sector, and the rising demand for luxury and designer furniture, such as reclining office chairs, will drive the global market.
Regional Insights
Asia Pacific to Dominate the Market Backed by the Speedy Growth of Commercial Housing Facilities
The report examines the global market for office chairs by analysing the breakdown and value of the market volume for all geographical regions. Asia Pacific has registered the highest growth rate among other regions and it is expected to lead the office chairs market share over the forecast period. The principal reason for this will be the rapid expansion of commercial housing facilities across India and China. Therefore, it is expected to garner significant business opportunities for vendors during the forecast period.
The South America market is also envisaged to showcase sterling growth owing to the developing corporate culture in the region’s emerging economies, primarily Brazil and Argentina. Rising incomes in the region will also play a key role in accelerating the regional market growth.
Segmentation
Based on product type, the market is segregated into ergonomic chairs, executive office chairs, conference chairs, computer chairs, and others. By material, this market has been segmented into mesh, leather, fabric, and plastic. On the basis of distribution channel, the market has been bifurcated into offline and online. In terms of geography, the market has been divided into North America, Europe, Asia Pacific, South America, and the Middle East & Africa.
Competitive Landscape
Key Players Aim to Develop Innovative Solutions to Improve Market Standing
In a bid to strengthen their position in the market, leading companies are developing inventive office chair offerings for customers. With their new products, these companies are able to widen their portfolios and expand their businesses sustainably. In addition, key players are also engaged in acquisition activities to further bolster their market presence.
Industry Development
February 2020: Wayfair Professionals launched Upper Square, the company’s first office furniture lineup for commercial use. The new range boasts of mid-century modern and contemporary styles designed for all kinds of office spaces.
Detailed Research Report Summary:
https://www.fortunebusinessinsights.com/office-chairs-market-103870