Dublin, Aug. 17, 2023 (GLOBE NEWSWIRE) -- The "U.S. Office Furniture Market Size, Share & Trends Analysis Report By Product (Modular System, Seating, Desks & Table), By Distribution Channel (Offline, Online), And Segment Forecasts, 2023 - 2030" report has been added to ResearchAndMarkets.com's offering.
The U.S. office furniture market size is anticipated to reach USD 22.24 billion by 2030, registering a CAGR of 5.1%
Various factors, such as rising disposable incomes, the real estate industry's growth, the growth of businesses, and consumer demand for luxury & premium furnishings, are driving the market growth. Furthermore, the growing hybrid working culture and the expansion of ed-tech platforms are driving industry growth.
During the COVID-19 pandemic, the demand to work and study at home resulted in a surge in office furniture purchases. For example, HOM Furniture, based in Minneapolis, noticed a boost in the category since the stay-at-home orders were implemented. Smaller-scale workstations that can accommodate both laptops and tablets are one of the most popular varieties.
Many manufacturers are implementing sustainable manufacturing practices due to rising consumer awareness about the importance of sustainable living, which is driving up demand for eco-friendly furniture. This involves reducing fuel usage and repurposing wood waste. Herman Miller, for example, has pledged to zero waste, 50 percent more local renewables (50,000 MWh), 100% Design for the Environment-approved items, and 125,000 tons of product returned each year.
Furthermore, internet furniture businesses are on the rise to reduce the requirement for rental space and inventory. Some of the most popular e-commerce websites in the U.S. for office furniture include Amazon.com and Wayfair.
The increased possibilities for office furniture sales through online channels forced online retailers to strengthen their purchase processes in terms of security and reliability, boosting product demand. Secure transactions, cash-on-delivery alternatives, quick return policies, and integrated & centralized customer service are just a few of the policies that attract consumers to shop online.
U.S. Office Furniture Market Report Highlights
- The market is expected to grow at a CAGR of 5.1% from 2023 to 2030. In recent years, continued expansion in building construction in the commercial segment and rising disposable income levels have fueled product demand in the U.S.
- The seating product segment accounted for the largest share in 2022 and is expected to grow further at a CAGR of 5.3% over the forecast period
- The recent rise in home offices as a result of an increase in remote work has boosted product demand in the region
- With individuals spending more than 8-10 hours a day at work, adequate seating has become increasingly important, hence the rise in ergonomic chair demand recorded in the U.S.
- The online distribution channel segment is expected to have the highest CAGR of 9.6% from 2023 to 2030. Furniture e-commerce has accelerated as a result of the pandemic
- Due to convenience, younger consumers, such as millennials, are more willing to buy products online, even if they can't see and feel the products beforehand. Yardbird, BenchMade Modern, Burrow, Article, and Joybird are a few of the new direct-to-consumer furniture brands
Key Attributes:
| Report Attribute | Details |
| No. of Pages | 80 |
| Forecast Period | 2022 - 2030 |
| Estimated Market Value (USD) in 2022 | $14.9 billion |
| Forecasted Market Value (USD) by 2030 | $22.24 billion |
| Compound Annual Growth Rate | 5.1% |
| Regions Covered | United States |
Competitive Analysis
Recent Developments & Impact Analysis, By Key Market Participants
- Company Categorization
- Participant's Overview
- Financial Performance
- Product Benchmarking
- Company Market Share Analysis, 2022 (Value % Share)
- Company Heat Map Analysis
- Strategy Mapping
Company Profiles
- Herman Miller
- HNI Corporation
- Steelcase
- Haworth
- Knoll
- Ashley Furniture Industries Inc.
- Global Furniture Group
- Kimball International Inc.
- Okamura Corp.
- Interior Systems, Inc.
Key Topics Covered:
Chapter 1. Methodology and Scope
Chapter 2. Executive Summary
2.1. Market Outlook
2.2. Segmental Outlook
2.3. Regional Outlook
Chapter 3. U.S. Office Furniture Market Variables, Trends & Scope
3.1. Market Lineage Outlook
3.2. Industry Value Chain Analysis
3.2.1. Suppliers Outlook
3.2.2. Technology Trends
3.3. Market Dynamics
3.3.1. Market Driver Analysis
3.3.2. Market Restraint Analysis
3.3.3. Industry Challenges
3.3.4. Industry Opportunities
3.4. Industry Analysis Tools
3.4.1. Industry Analysis - Porter's
3.5. Market Entry Strategies
Chapter 4. Consumer Behavior Analysis
4.1. Demographic analysis
4.2. Consumer Trends and Preferences
4.3. Factors Affecting Buying Decision
4.4. Consumer Product Adoption
4.5. Observations & Recommendations
Chapter 5. U.S. Office Furniture Market: Product Estimates & Trend Analysis
5.1. Product Movement Analysis & Market Share, 2022 & 2030
5.2. U.S. Office Furniture Market Estimates & Forecast, By Product (USD Billion)
5.2.1. Seating
5.2.2. Modular System
5.2.3. Desks & Table
5.2.4. Others
Chapter 6. U.S. Office Furniture Market: Distribution Channel Estimates & Trend Analysis
6.1. Distribution Channel Movement Analysis & Market Share, 2022 & 2030
6.2. U.S. Office Furniture Market Estimates & Forecast, By Distribution Channel (USD Billion)
6.2.1. Online
6.2.2. Offline
For more information about this report visit https://www.researchandmarkets.com/r/6ikrnl
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