Overview and Scope
Institutional and office furniture refers to any piece of furniture with component parts that can stand alone and does not need to be installed, such as computer desks, chairs, file cabinets, tables, and lounge seating.
Sizing and Forecast
The institutional and office furniture market size has grown strongly in recent years. It will grow from $245.17 billion in 2023 to $265.5 billion in 2024 at a compound annual growth rate (CAGR) of 8.3%. The growth in the historic period can be attributed to corporate expansions and office openings, focus on employee comfort and productivity, globalization of businesses, sustainable and green office practices, corporate rebranding and image enhancement.
The institutional and office furniture market size is expected to see strong growth in the next few years. It will grow to $361.12 billion in 2028 at a compound annual growth rate (CAGR) of 8.0%. The growth in the forecast period can be attributed to hybrid work models, wellness-centric office designs, sustainable and circular furniture practices, remote work furniture solutions, innovations in acoustic furniture, focus on workplace diversity and inclusion. Major trends in the forecast period include technology integration in furniture, acoustic solutions for open offices, customization for brand identity, agile furniture for collaborative spaces, inclusive and diverse designs.
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Segmentation & Regional Insights
The institutional and office furniture market covered in this report is segmented –
1) By Type: Institutional Furniture, Office Furniture
2) By Raw Material: Wood, Plastic, Metal
3) By Distribution Channel: Exclusive Showrooms, Online, Supermarkets/Hypermarkets, Other Distribution Channels
Subsegments Covered: School Furniture , General Purpose Institutional Furniture, Public Bar, Bowling Center, Cafeteria, And Restaurant Furniture, Wooden Furniture, Metal Furniture, Plastic Furniture
Asia-Pacific was the largest region in the institutional and office furniture market in 2023. Western Europe was the second largest region in the institutional and office furniture market. The regions covered in the institutional and office furniture market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa.
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Major Driver Impacting Market Growth
The increasing demand for online shopping is expected to help the institutional and office furniture manufacturing market grow. Manufacturers can now sell their products on a larger platform than before, which will increase their customer base geographically, driving the growth of the furniture manufacturing market. In countries such as India, for instance, e-commerce portals have boosted the sales of furniture manufacturers by giving larger exposure to producers who were confined to one geography.
Key Industry Players
Major companies operating in the institutional and office furniture market report are HON Company, IKEA, Steelcase Inc., Kokuyo Co. Ltd., Okamura Corporation, Haworth Inc., Herman Miller Inc., HNI Corporation, Godrej & Boyce Mfg. Co. Ltd., Knoll Inc., Itoki Corporation, KI Furniture, Kimball International, National Office Furniture, OFS Brands, Sedus Stoll AG, Vitra, Allsteel Inc, Wilkhahn Wilkening+Hahne GmbH+Co., Teknion, Clarus Glassboards, Groupe Lacasse, Global Furniture Group, Boss Design, Nucraft Furniture, EFG European Furniture Group, Kinnarps Group, Bernhardt Design, Davis Furniture, Artelite, Falcon Products, Fantoni Spa, Friant, Girsberger, Gunlocke Company, Halcon, HBF, HOWE a/s, Humanscale, Jasper Group Brands
The institutional and office furniture market report table of contents includes:
1. Executive Summary
2. Institutional And Office Furniture Market Characteristics
3. Institutional And Office Furniture Product/Service Analysis -Product/Service Examples
4. Institutional And Office Furniture Market Trends And Strategies
5. Institutional And Office Furniture Market – Macro Economic Scenario
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68. Global Institutional And Office Furniture Market Competitive Benchmarking
69. Global Institutional And Office Furniture Market Competitive Dashboard
70. Key Mergers And Acquisitions In The Institutional And Office Furniture Market
71. Institutional And Office Furniture Market Future Outlook and Potential Analysis
72. Appendix
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