Dublin, Sept. 30, 2021 (GLOBE NEWSWIRE) -- The "Home Office Furniture Market by Product Type, Material Type, Price Range and Distribution Channel: Global Opportunity Analysis and Industry Forecast 2021-2030" report has been added to ResearchAndMarkets.com's offering.
The global home office furniture market size was valued at $3,032.6 million in 2020, and is estimated to reach $7,615.2 million by 2030, registering a CAGR of 8.8% from 2021 to 2030.
Home office furniture includes all the furniture products essential to set up an office or office like environment at home. This furniture is used for seating, installing computer systems, and storing files & documents. It is commonly used by the employees, students, professionals, and entrepreneurs for the purpose of reading, writing, operating desktops/laptops, attending online meetings and lectures, and storing files.
Home office furniture products are manufactured using a variety of materials and are available in different designs. The designs can be modified through machine-based processes and handcrafting. Furniture manufacturing involves highly skilled and creative professionals. The home office furniture caters to the corporate and government employees, students, and professionals. The home office furniture market has witnessed rapid growth in recent years, in line with the growth in the global economy and subsequent demand for work from home. The demand for versatile and multi-functional products that offer portability and can easily be accommodated in small spaces drive the home office furniture market growth. Furthermore, rise in number of nuclear families is increasing the demand for portable and space-saving products. This factor is anticipated to drive the demand for the market growth in the forthcoming years.
The market is driven by various factors such as rise in disposable incomes, growth of real estate industry, growth of small and medium sized enterprises (SMEs), and demand for luxury and premium furniture from certain consumer sections. Moreover, the growing popularity of hybrid working culture and growth of ed-tech platforms further boost the growth of the global home office furniture market in the past few years.
The outbreak of COVID-19 disease, in December 2019, resulted in rapid growth in demand for the home office furniture. The government announced complete shut down across the globe to contain the spread of the virus. The government norms on social distancing and ban on travelling forced the corporate sector, government sector, and educational institutes to adopt "stay at home" and "work from home" policy to continue their business operations. Under such circumstances, the global home office furniture market witnessed a rapid growth in demand from all over the globe.
In Asia-Pacific, many key players in home office furniture market are launching their own online platform and are entering into partnerships with the e-commerce retail stores to strengthen their distribution network, which is anticipated to drive the growth of the Asia-Pacific home office furniture market. In North America, leading home office furniture brands are focusing on personalization in product offering, which is gaining popularity among the various consumer groups.
The growing penetration of furniture rental businesses such as Fabrento, CORT, and Brook Furniture Rental is likely to hamper the revenue of the home office furniture manufacturers. Especially in Asia-Pacific market, where the maximum population falls under low- and medium-income group. The consumers many a times opt for furniture rental services to save the huge costs associated with the acquisition of brand-new furniture.
The global home office furniture market is segmented on the basis of product type, material type, price range, distribution channel, and region. Based on product type, it is classified into seating, tables, storage units & file cabinets, and others. Depending on material type, the home office furniture market is segmented into wood, metal, and plastic. On the basis of price range, it is classified into low, medium, and high. The distribution channel comprises supermarkets & hypermarkets, specialty stores, e-commerce, and others. By region, it is analyzed across North America, Europe, Asia-Pacific, and LAMEA.
The players operating in the global home office furniture market have adopted various developmental strategies to expand their market share, exploit the home office furniture market opportunities, and increase profitability in the market. The key players profiled in this report include Haworth, Inc., Inter IKEA Systems BV, Steelcase, Inc., Masco Corporation, HNI Corporation, L & J.G. STICKLEY, Inc., Kimball International, Inc., Okamura Corporation, Basset Furniture Industries, and Durham Furniture, Inc.
Key Benefits
- The report provides a quantitative analysis of the current market trends, estimations, and dynamics of the market size from 2020 to 2030 to identify the prevailing opportunities.
- Porter's five forces analysis highlights the potency of buyers and suppliers to enable stakeholders to make profit-oriented business decisions and strengthen their supplier-buyer network.
- In-depth analysis and the market size and segmentation assist to determine the prevailing market opportunities.
- The major countries in each region are mapped according to their revenue contribution to the market.
Key Topics Covered:
CHAPTER 1: INTRODUCTION
CHAPTER 2: EXECUTIVE SUMMARY
CHAPTER 3: MARKET OVERVIEW
3.1. Market definition and scope
3.2. Key forces shaping global home office furniture industry/market
3.2.1. Bargaining power of suppliers
3.2.2. Bargaining power of buyers
3.2.3. Thereat of new entrants
3.2.4. Threat of substitutes
3.2.5. Intensity of competitive rivalry
3.3. Market dynamics
3.3.1. Drivers
3.3.1.1. Growth in urbanization
3.3.1.2. Rise in entrepreneurship and work from home
3.3.1.3. Increase in inclination of customers toward multi-function furniture
3.3.2. Restraint
3.3.2.1. Rise in raw material price
3.3.2.2. Environmental restriction associated with deforestation
3.3.3. Opportunity
3.3.3.1. Development of eco-friendly raw materials
3.3.3.2. Growth in e-commerce sales
3.4. Market share analysis/top player positioning, 2020
3.5. COVID-19 impact analysis
3.6. Impact of key regulations
CHAPTER 4: GLOBAL HOME OFFICE FURNITURE MARKET, BY PRODUCT TYPE
4.1. Overview
4.1.1. Market size and forecast
4.2. Seating
4.2.1. Key market trends, growth factors, and opportunities
4.2.2. Market size and forecast
4.2.3. Market analysis, by country
4.3. Tables
4.3.1. Key market trends, growth factors, and opportunities
4.3.2. Market size and forecast
4.3.3. Market analysis, by country
4.4. Storage units and file cabinets
4.4.1. Key market trends, growth factors, and opportunities
4.4.2. Market size and forecast
4.4.3. Market analysis, by country
4.5. Others
4.5.1. Key market trends, growth factors, and opportunities
4.5.2. Market size and forecast
4.5.3. Market analysis, by country
CHAPTER 5: GLOBAL HOME OFFICE FURNITURE MARKET, BY MATERIAL TYPE
5.1. Overview
5.1.1. Market size and forecast
5.2. Wood
5.2.1. Key market trends, growth factors, and opportunities
5.2.2. Market size and forecast
5.2.3. Market analysis, by country
5.3. Metal
5.3.1. Key market trends, growth factors, and opportunities
5.3.2. Market size and forecast
5.3.3. Market analysis, by country
5.4. Plastic
5.4.1. Key market trends, growth factors, and opportunities
5.4.2. Market size and forecast
5.4.3. Market analysis, by country
CHAPTER 6: GLOBAL HOME OFFICE FURNITURE MARKET, BY PRICE RANGE
6.1. Overview
6.1.1. Market size and forecast
6.2. Low
6.2.1. Key market trends, growth factors, and opportunities
6.2.2. Market size and forecast
6.2.3. Market analysis, by country
6.3. Medium
6.3.1. Key market trends, growth factors, and opportunities
6.3.2. Market size and forecast
6.3.3. Market analysis, by country
6.4. High
6.4.1. Key market trends, growth factors, and opportunities
6.4.2. Market size and forecast
6.4.3. Market analysis, by country
CHAPTER 7: GLOBAL HOME OFFICE FURNITURE MARKET, BY DISTRIBUTION CHANNEL
7.1. Overview
7.1.1. Market size and forecast
7.2. Supermarkets & hypermarkets
7.2.1. Key market trends, growth factors, and opportunities
7.2.2. Market size and forecast
7.2.3. Market analysis, by country
7.3. Specialty stores
7.3.1. Key market trends, growth factors, and opportunities
7.3.2. Market size and forecast
7.3.3. Market analysis, by country
7.4. E-commerce
7.4.1. Key market trends, growth factors, and opportunities
7.4.2. Market size and forecast
7.4.3. Market analysis, by country
7.5. Others
7.5.1. Key market trends, growth factors, and opportunities
7.5.2. Market size and forecast
7.5.3. Market analysis, by country
CHAPTER 8: HOME OFFICE FURNITURE MARKET, BY REGION
CHAPTER 9: COMPETITION LANDSCAPE
9.1. Top winning strategies
9.2. Product mapping
9.3. Competitive dashboard
9.4. Competitive heat map
9.5. Key developments
9.5.1. Acquisition
9.5.2. Business Expansion
9.5.3. Product Launch
9.5.4. Partnership
9.5.5. Collaboration
9.5.6. Agreement
CHAPTER 10: COMPANY PROFILES
10.1. BASSETT FURNITURE INDUSTRIES (BASSETT)
10.1.1. Company overview
10.1.2. Key Executives
10.1.3. Company snapshot
10.1.4. Operating business segments
10.1.5. Product portfolio
10.1.6. Business performance
10.2. DURHAM FURNITURE
10.2.1. Company overview
10.2.2. Key Executives
10.2.3. Company snapshot
10.2.4. Product portfolio
10.3. HAWORTH, INC.
10.3.1. Company overview
10.3.2. Key Executives
10.3.3. Company snapshot
10.3.4. Product portfolio
10.3.5. Key strategic moves and developments
10.4. HNI CORPORATION
10.4.1. Company overview
10.4.2. Key Executives
10.4.3. Company snapshot
10.4.4. Operating business segments
10.4.5. Product portfolio
10.4.6. R&D Expenditure
10.4.7. Business performance
10.4.8. Key strategic moves and developments
10.5. INTER IKEA SYSTEMS BV
10.5.1. Company overview
10.5.2. Key Executives
10.5.3. Company snapshot
10.5.4. Operating business segments
10.5.5. Product portfolio
10.5.6. Business performance
10.5.7. Key strategic moves and developments
10.6. KIMBALL INTERNATIONAL INC
10.6.1. Company overview
10.6.2. Key Executives
10.6.3. Company snapshot
10.6.4. Marketing channel
10.6.5. Product portfolio
10.6.6. R&D Expenditure
10.6.7. Business performance
10.6.8. Key strategic moves and developments
10.7. L. & J. G. STICKLEY, INC
10.7.1. Company overview
10.7.2. Key Executives
10.7.3. Company snapshot
10.7.4. Product portfolio
10.8. MASCO CORPORATION
10.8.1. Company overview
10.8.2. Key Executives
10.8.3. Company snapshot
10.8.4. Operating business segments
10.8.5. Product portfolio
10.8.6. Business performance
10.9. OKAMURA CORPORATION (OKAMURA)
10.9.1. Company overview
10.9.2. Key Executives
10.9.3. Company snapshot
10.9.4. Operating business segments
10.9.5. Product portfolio
10.9.6. Business performance
10.10. STEELCASE INC
10.10.1. Company overview
10.10.2. Key Executives
10.10.3. Company snapshot
10.10.4. Operating business segments
10.10.5. Product portfolio
10.10.6. R&D Expenditure
10.10.7. Business performance
10.10.8. Key strategic moves and developments
For more information about this report visit https://www.researchandmarkets.com/r/nc1kri
