Global Office Furniture Market Trends, Forecast Report 2025-2037
Office Furniture Market size is anticipated to rise from USD 58.36 billion to USD 139.36 billion, exhibiting a CAGR of around 7.1% during the forecast timeline, from 2025 through 2037. In the year 2025, the industry size of office furniture is evaluated at USD 61.72 billion.
The market growth is attributed to rising number of commercial properties. For instance, in 2018, nearly 6 billion commercial buildings emerged having around 95 billion square feet of floor space. Moreover, rapidly increasing development of information technology (IT) parks and commercial zones are some more factors boosting the market revenue.
Office furniture improves employee productivity by making the workplace more comfortable. It also helps to keep documents and devices safe from dust, theft, fire, and bugs. Manufacturers now offer multi-functional furniture in a variety of sizes, colors, and designs with increased storage capacity. Global market trends such as, skyrocketing number of SMEs and increasing disposable income and GDP are projected to influence the market growth.
Office Furniture Sector: Growth Drivers and Challenges
Growth Drivers
- Constant Growth in the Number of Companies Across the Globe - For Instance, the presence of more than 300 million companies was noticed in 2021. A significant rise has been observed in the number of companies worldwide. A company requires a particular space to keep all the necessary equipment and records to keep in order for undisrupted functionality. Every workspaces facility needs furniture of good quality for the employees, customers, products, and others.
- Increasing Number of Start-Ups - In the year 2018, more than 45000 startups were born solely in India while at least 2 start-ups are born per day in the same region.
- Growing Sales of Chairs & Tables - It is observed that the sales of occasional table reached approximately USD 6 billion in 2020.
- Spiking Establishments of Small and Medium Sized Enterprises - As of 2021, about 325 million small and medium sized enterprises (SMEs) were operating across the globe.
- Booming IT Sector – For instance, Global IT expenditure is expected to reach nearly 4.7 trillion in 2023, a 5% increase from 2022 expenditure.
Challenges
- Higher Costs Associated with the Furniture – A good quality feature and more durability is always adding more expenses on the pocket. Moreover, currently numerous ergonomic features along with premium grade finishing and customizations are also available which is hiking the price of office furniture. This major factor is hindering the growth of the market over the projected forecast period.
- Requirement for Higher Initial Investment
- Disrupted Supply-Chain Due to Covid-19
Office Furniture Market: Key Insights
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Base Year |
2024 |
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Forecast Year |
2025-2037 |
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CAGR |
7.1% |
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Base Year Market Size (2024) |
USD 58.36 billion |
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Forecast Year Market Size (2037) |
USD 139.36 billion |
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Regional Scope |
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Office Furniture Segmentation
Sales Channel (Retail, E-Commerce, Rental Stores)
The rental stores segment in the office furniture market is projected to witness noteworthy growth during the forecast period. The growth of the segment is accounted to the rising consumer pool in the rental stores as these rental stores provide a wide range of furniture in a pocket friendly amount which is payable on every month or on a quarter time frame basis. For instance, the U.S. furniture & homeware e-commerce generated nearly USD 100 billion in 2021.
Our in-depth analysis of the global market includes the following segments:
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By Product |
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By Sales Channel |
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Customize this ReportOffice Furniture Industry - Regional Synopsis
The North America office furniture market is projected to hold largest revenue share by the end of 2037, backed by spiking furniture retail sales in the region. As of 2021, the sales of furniture in the United States were estimated to be around USD 12 billion per month up from the previous year. Furthermore, people being more inclined to buy furniture from online methods will hike the market growth. The revenue generated by furniture e-retail was estimated to be around USD 100 billion in 2021 and is further expected to reach USD 200 billion by the year 2025.
Companies Dominating the Office Furniture Market
- OKAMURA CORPORATION
- Company Overview
- Business Strategy
- Key Product Offerings
- Financial Performance
- Key Performance Indicators
- Risk Analysis
- Recent Development
- Regional Presence
- SWOT Analysis
- Hooker Furniture Company
- Steelcase Inc.
- Berco Designs
- MillerKnoll, Inc.
- HNI Corporation
- 9to5 Seating LLC
- IKEA Systems B.V.
- Haworth Inc.
- Knoll, Inc.
In the News
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MillerKnoll, Inc.’s part, Herman Miller launches a new office chair that is inspired by new eames. These office chairs are colorful and customizable and a perfect fit for any sort of space.
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IKEA Systems B.V. to announce the repair service action for its customers who own SUNDVIK changing table/chest. This action is executed to provide safety from the folding part by installing locking fittings.
Author Credits: Parul Atri
- Report ID: 78
- Published Date: Jan 17, 2025
- Report Format: PDF, PPT
