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Contract Furniture Market By Product Type (Desks & Tables, Chairs & Tools, Storage Cabinets, Sofas, Cafeteria Tables & Chairs,Others (Presentation Stands & Lightings etc.) By End-User (Corporate Offices, Hospitals, Hospitality & Food Services, Institutions, Others (Schools, Airports etc.) - Growth, Future Prospects & Competitive Analysis, 2016 – 2028

About this report

The global contract furniture market report explores the critical study of the contract furniture market employing the major factors. The report includes investment ideas, information on the need for investments in the contract furniture sector, and details on the many advantages for investors. These significant report details are modifications to international technical standards for the contract furniture business and how economic and non-economic obstacles are promoting the expansion of the contract furniture market. Additionally, the report examines historical and projected market sizes at the global, regional, and national levels. The report also offers a thorough analysis of the most important investment propositions, the demand and supply gap, the positioning of the competition, and the STAR, SRC, and Tornado analyses. Important technology advancements and other evaluations, like Porter's Five Forces, PESTEL, and Value Chain Analysis.

Key Highlights of the report

REPORT ATTRIBUTE DETAILS

Contract Furniture Market by Volume

Yes

Contract Furniture Market by Value

Yes

Contract Furniture Market, Tornado Analysis

Yes

Contract Furniture Market, STAR Analysis

Yes

Contract Furniture Market, SRC Analysis

Yes

Contract Furniture Market, Import-Export Data

Yes (On Demand)

Contract Furniture Market Pricing Analysis

Yes (On Demand)

Contract Furniture Market Segment Analysis

·         By Product Type (Desks & Tables, Chairs & Stools, Storage Cabinets, Sofas, Cafeteria Tables & Chairs, and Others (Presentation Stands & Lightings etc.))

·         By End-User (Corporate Offices, Hospitals, Hospitality & Food Services, Institutions, and Others (Schools, Airports etc.))

·         By Distribution Channel (Online, E-Commerce Websites, Company-Owned Websites, Offline, Speciality Stores, Furniture Marts, and Other Retail Based Stores)

Contract Furniture Market, Regional Analysis

·         North America (US and Canada)

·         Europe (Germany, UK, France, Italy, Spain, and Rest of Europe)

·         Asia Pacific (China, India, Japan, South Korea, South East Asia, and Rest of Asia Pacific)

·         Latin America (Brazil, Mexico, and Rest of Latin America)

·         Middle East and Africa (GCC Countries, South Africa, and Rest of Middle East and Africa)

Contract Furniture Market Key Companies

Carlick Contract Furniture Company, Forest Contract, Haworth Inc., Herman Miller Inc., Humanscale International Holdings Ltd., Kinnarps AB, Knoll Inc., Pioneer Contract Furniture Ltd., Sitraben Contract Furniture Ltd., and Steelcase Inc.

Contract Furniture Market Competitive Landscape

·         Market Share Analysis

·         Competitive Benchmarking

·         Key Players Market Positioning

·         Geographical Presence Analysis

·         Major Strategies Adopted

How are the major segments performing in the contract furniture market?

  • In 2021, the chairs and stools held highest revenue share in global contract furniture market due to growing demand of office chairs among the enterprises. Office chairs must be created using scientific principles as employees spend more than 8 to 10 hours at work each day, and good posture while working substantially influences health.
  • In 2021, the hospital segment had significant market share, as contract furnishing are widely used for healthcare applications including chairs & stools for seating, medical recliners, medical gliders, lounge seating, benches, and many others.
  • In 2021, the offline segment captured the highest revenue share in the contract furniture market due to the wide range of product availability at offline stores.

Which region dominated the contract furniture market?

In 2021, Asia-Pacific holds the largest share in global contract furniture market due to rapid commercialization in emerging economies such as China, India, and Japan over the decade, which in turn, fuelling the demand for contract furnishing in this region. In addition, the entry of large furniture makers into the Asia Pacific region has boosted overall market demand in recent years.

contract-furniture-market

What is the competitive environment of the contract furniture market?

The contract furniture industry's competitive environment provides information on the entire economic profit made by suppliers and businesses, the sales and revenues created in this sector, the contract furniture market share globally, the business organization summary, the introduction of new products, and the opportunities for the contract furniture market. In addition, the primary expansion strategies for reaching out to consumers include a well-structured and efficient supply chain and an expanded retail network.

Executive Summary

How rising construction projects drives the growth of contract furniture market?

As the government invests more in infrastructure development, there is a greater need for furniture in residential and commercial developments. Several government-initiated development projects throughout the world, particularly in metropolitan areas, are also projected to emerge as major contributors driving the industry growth. The construction of new hotels, office buildings, hospitals, schools, colleges, education centres, and other public buildings is becoming more common as the world's population grows, necessitating the construction of new hotels, office buildings, hospitals, schools, colleges, education centres, and other public buildings. Existing infrastructure is also being upgraded to accommodate the rising population. The demand for furniture is expected to rise further during the predicted period due to increased investments in building new infrastructure and repairing current infrastructure.

Furthermore, the governments of the Middle East, particularly Saudi Arabia, are focusing on boosting their economies through developing numerous residential and commercial building projects. The government's increased investment in tourism, healthcare, and education is predicted to improve the Saudi building sector, consequently increasing demand for contract furnishing in this region. Moreover, organizations or workplaces are choosing new and current furniture designs with modern colours over traditional furniture since employees may find the work environment could be more interesting, affecting productivity. For instance, in March 2017, Microsoft Corporation announced a partnership with Steelcase. This partnership aimed to incorporate innovative and modern furniture into workplaces to increase productivity and creative thinking.

Which are the key investments by the contract furniture market players?

Leading players operating in the contract furniture market are focusing on expansion in production capacities for contract furnishing items. Apart from this, players are concentrating on strategic mergers and acquisitions, collaborations and creating awareness among the businesses via various advertisement campaigns to help the manufacturers to promote the usage of contract furniture in the industry, which further helps to expand their customer base in global contract furniture market to gain a competitive edge.

Some major players in the contract furniture market are Carlick Contract Furniture Company, Forest Contract, Haworth Inc., Herman Miller, Inc., Humanscale International Holdings Ltd., Kinnarps AB, Knoll Inc., Pioneer Contract Furniture Ltd., Sitraben Contract Furniture Ltd., and Steelcase Inc.

What are the major driving factors for the contract furniture market?

Contract furniture is increasingly being used in business settings such as corporate parks, luxury hotels and restaurants, and schools. Increased investment in interior decor has driven up average contract furnishing costs, since it makes the surroundings more appealing and orderly. The evolution of the e-commerce business, as well as product marketing or advertising on social media and other online platforms, all contribute to the growth of the contract furniture market. Moreover, the global contract furniture industry is expected to be driven by increased usage of ergonomic office furniture, which fuels the demand for ergonomic furniture in the market. Furthermore, consumer adoption of environmentally friendly contract furniture is likely to fuel market growth throughout the forecast period.

Additionally, rising technology advancements have boosted the contract furniture market over the next few years. Charging tables, smart couches, smart showerheads, food-tracking refrigerators, and smart wardrobes for corporate offices, luxury hotels, restaurants, and bars, among others, may be controlled remotely via smart devices such as smartphones and tablets. Such factors boosted the demand for contract furniture in the market.

What are the major risks for the contract furniture market?

High costs connected with product consumption, as well as restricted product availability in terms of color, design, and configuration possibilities, would likely function as market barriers for the growth of contract furniture market over the forecast period.

Which is the key application in the contract furniture market?

The chairs and stools held the highest revenue share in global contract furniture market due to growing demand for office chairs among the enterprises. Office chairs must be created using scientific principles as employees spend more than 8 to 10 hours at work each day, and good posture while working substantially influences health. In addition, increasing adoption of ergonomic furniture in office furniture has increased the demand for contract furniture in the market.

How is the contract furniture market performing in regions?

Asia-Pacific has the highest revenue share of the global contract furniture market due to growing commercialization in rising economies like as China, India, and Japan over the last decade. This resulting, to fuel the demand for contract furnishings in this region. Furthermore, the recent arrival of significant furniture manufacturers into Asia has increased the demand for contract furniture in the market.

Europe is expected to grow at a significant CAGR throughout the forecast period, owing to the growing tourist industry, which is boosting the hospitality sector and increasing demand for luxury furnishings. Europe is one of the key locations where furniture exports outnumber imports. Due to the concentrations of significant important companies, Italy, Germany, and France are the primary countries in the business.

What is the regulatory landscape for the contract furniture market?

The importation of some wood items (including wooden furniture) into the United States is regulated by the United States Department of Agriculture (USDA). It does so to prevent the spread of pests like wood-boring beetles and to limit trade in endangered tree species. When importing wooden furniture into the United States, ASTM requirements are typically not required. However, several firms continue using appropriate ASTM standards during product development to improve product safety. The GSA standards are accessible for download and usage by industry and customer agencies. The development organisation makes available standards produced by industry or other groups.

What is the market size of contract furniture regarding value?

The global contract furniture market is anticipated to grow at a significant CAGR of 4.8% during the forecast period. The global contract furniture industry was estimated to be worth USD 56.5 billion in 2021 and was expected to be worth USD 74.8 billion by 2028.

What are the major players planning for the future of the contract furniture market?

Growing regional existence and investment in downstream applications are anticipated to deliver a competitive edge in the market. For instance, in September 2021, Steelcase Inc., an American furniture maker, introduced the Steelcase Karman, a one-of-a-kind ergonomic chair for an ergonomic sitting design. Steelcase Karman is designed to adapt organically to body movement and deliver maximum comfort. Its unique design combines a new patented mesh cloth that does not droop or feel rigid with an ultra-light-flexible frame that removes stiff edges, decreasing strain on the seat and back when compared to typical mesh chairs.

Segmentation of Global Contract Furniture Market-

Global Contract Furniture Market – By Product Type

  • Desks & Tables
  • Chairs & Tools
  • Storage Cabinets
  • Sofas
  • Cafeteria Tables & Chairs
  • Others (Presentation Stands & Lightings etc.)

Global Contract Furniture Market – By End-User

  • Corporate Offices
  • Hospitals
  • Hospitality & Food Services
  • Institutions
  • Others (Schools, Airports etc.)

Global Contract Furniture Market – By Distribution Channel

  • Online
    • E-commerce websites
    • Company-Owned Websites
  • Offline
    • Specialty Stores
    • Furniture Marts
    • Other Retail Based Stores

Global Contract Furniture Market – By Region

  • North America
    • US
    • Canada
  • Europe
    • Germany
    • France
    • UK.
    • Italy
    • Spain
    • Rest of Europe
  • Asia Pacific
    • China
    • Japan
    • India
    • South Korea
    • South-east Asia
    • Rest of Asia Pacific
  • Latin America
    • Brazil
    • Mexico
    • Rest of Latin America
  • Middle East & Africa
    • GCC Countries
    • South Africa
    • Rest of Middle East and Africa

Frequently asked questions about the global contract furniture market

The COVID-19 pandemic had a negative impact on the global contract furniture market due to imposed nationwide lockdowns and other restrictions to curb the spread of the disease.

Asia-Pacific accounted for the major global contract furniture market revenue.

The major drivers responsible for the market's growth include the rising population, increasing urbanization, and increased furniture usage in various commercial sectors such as hospitals, corporate offices, retail stores, and hotels.

The chairs & stool segment had a major share in the global market in 2021.

The offline segment had a major share in the global market.

Contract Furniture Market Scope

Report Attribute Details
Market Value in 2021 USD 56.5 billion
Market Value in 2028 USD 74.8 billion
CAGR 4.8%
Benchmarking Year 2021
Past data 2016 – 2021
Forecast period 2022 – 2028
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Godaddy
Published Date:  Oct 2022
Category:  Building & Construction
Report ID:   60763
Report Format:   PDF
Pages:   120
Rating:    4.6 (50)
Delivery Time: 24 Hours to 48 Hours   
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