The Business Research Company’s report on the Contract Furniture Market provides insights into the global market size, growth rate, regional distribution, competitive landscape, key segments, emerging trends, and strategic opportunities.
How are market drivers shaping the future growth trajectory of the contract furniture industry?
The rise in commercial spaces globally is expected to propel the growth of the contract furniture market going forward. Commercial space is a broad real estate term for any area utilized for business or professional activities. Contract furniture is designed and manufactured for public and high-use commercial locations such as lobbies, waiting rooms, and offices in the business sector that can accommodate hundreds of highly durable individuals. For instance, in June 2023, according to the report published by Commercial Edge, a Canada-based commercial real estate software company, the average office listing rate in the United States is $38.36 per square foot in 2023, an increase of 2.1% yearly. The national vacancy rate increased by 30 basis points annually to 17% in 2023. Further, the under-construction office space in the United States is 116.2 million square feet in 2023, accounting for 1.8% of total stock. Therefore, the rise in commercial spaces globally is driving the growth of the contract furniture market.
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What is the estimated market size of the contract furniture sector by 2029, based on current forecasts?
The contract furniture market size has grown strongly in recent years. It will grow from $63.21 billion in 2024 to $67.1 billion in 2025 at a compound annual growth rate (CAGR) of 6.2%. The growth in the historic period can be attributed to corporate office expansion, trends in office design, hospitality and tourism growth, sustainable and eco-friendly practices, and globalization of business
The contract furniture market size is expected to see strong growth in the next few years. It will grow to $85.56 billion in 2029 at a compound annual growth rate (CAGR) of 6.3%. The growth in the forecast period can be attributed to the rise of remote work culture, wellness and ergonomic design, flexible and modular furniture solutions, customization and personalization, and rapid growth of co-living spaces. Major trends in the forecast period include technology integration, biophilic design elements, smart furniture and IoT integration, virtual and augmented reality in design, and innovations in sustainable materials.
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Who are the top players in the contract furniture market?
Major companies operating in the contract furniture market include Inter IKEA Systems BV, Herman Miller Inc., Steelcase Inc., Haworth Inc., HNI Corporation, Okamura Corporation, Global Furniture Group, Arhaus Inc., Knoll Inc., Kimball International, Kinnarps AB, OFS Brands Holdings Inc., Cabot Wrenn, Teknion Corporation, Pioneer Contract Furniture Ltd., Keilhauer Industries Ltd., Allseating Corporation, Allermuir Inc., Hauser Industries Inc., Jack Cartwright Inc., Carlick Contract Furniture Limited, Casala Limited, Modern Line Furniture, Aceray LLC
What are the major trends in the contract furniture market?
Product innovation has emerged as a key trend gaining popularity in the contract furniture market. Major companies operating in the contract furniture market are concentrating on developing innovative furniture to strengthen their position in the market. For instance, in February 2022, Godrej Interior, an India-based furniture company, introduced Move Up, an ergonomic desk innovation that encourages alternating postures. Move Up features an inclusive design with easy adjustment. Through the use of its software, it identifies the individuality of each individual and promotes smooth transitions between working postures. The program detects how much time the user spends sitting or standing and takes appropriate action while allowing the desk to move.
Which geography holds the highest contract furniture market share?
North America was the largest region in the contract furniture market in 2024. Asia-Pacific is expected to be the fastest-growing region in the forecast period. The regions covered in the contract furniture market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa
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How do different segments contribute to the overall expansion of the contract furniture market?
The contract furniture market covered in this report is segmented –
1) By Product Type: Chairs And Stools, Tables And Desks, Storage Furniture, Sofa And Couch, Other Product Types
2) By Materials: Upholstered, Non-Upholstered
3) By Distribution Channel: Offline, Online
4) By End-User: Government, Corporate Offices, Institutional, Healthcare Or Medical Facilities, Hospitality, Other End-Users
Subsegments:
1) By Chairs And Stools: Task Chairs, Lounge Chairs, Bar Stools, Stackable Chairs
2) By Tables And Desks: Conference Tables, Dining Tables, Workstations And Desks, Side Tables
3) By Storage Furniture: Filing Cabinets, Bookcases, Lockers, Shelving Units
4) By Sofa And Couch: Modular Sofas, Sectional Sofas, Sleeper Sofas, Loveseats
5) By Other Product Types: Partitions And Dividers, Outdoor Furniture, Accessories
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How is the contract furniture market defined?
Contract furniture refers to furniture that is designed and produced expressly for use in commercial or institutional environments. This furniture is used to survive severe use and fulfill the durability, resistance, safety, and quality standards necessary in business settings for promoting practices for the protection of the environment.
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