Dublin, June 04, 2024 (GLOBE NEWSWIRE) -- The "North America School Furniture Market Report by Product, Material, Distribution Channel, and Country 2024-2032" report has been added to ResearchAndMarkets.com's offering.
The North America school furniture market size reached US$ 2.3 Billion in 2023. Looking forward, the market is projected to reach US$ 3.3 Billion by 2032, exhibiting a growth rate (CAGR) of 4.09% during 2023-2032
The increasing number of students enrolling in schools, continual advancements in traditional classroom teaching, and the rising demand for modular and flexible furniture represent some of the key factors driving the market.
The Increasing Construction of Schools is Augmenting the Market Growth
In the past decade, North America has experienced a significant increase in the construction of schools, primarily due to rapid population growth. Most government bodies across North America are emphasizing the proliferation of education rates in both rural and urban areas through compulsory basic education schemes, thus propelling the market. The education system in the region comprises a primary school, middle school, high school, and post-secondary school, with a focus on enhancing literacy rates.
In addition, outdated school facilities, changes in building safety codes, overcrowded classrooms, and advances in technology have been leading schools to upgrade their classroom infrastructure to meet present needs. Therefore, educational bodies are now seeking unique designs and buildings that complement students' overall progress, leading to the growth of the school furniture market.
Competitive analysis such as market structure, market share by key players, player positioning, top winning strategies, competitive dashboard, and company evaluation quadrant has been covered in the report. Also, detailed profiles of all major companies have been provided. The market structure is competitive with leading domestic and international manufacturers operating in the industry who are undertaking various strategic initiatives like portfolio expansion and increasing efforts toward building a robust supply chain. The volume of new entrants is medium in the North America school furniture industry due to the presence of a large number of players and low product differentiation.
North America School Furniture Market Trends
The augmenting number of students enrolling in schools majorly drives the market in North America. This demographic trend directly impacts the demand for school furniture, as more classrooms and educational institutions are needed to accommodate the increasing number of students. This, in turn, drives demand for desks, chairs, tables, and other furniture items used in classrooms, libraries, and other educational spaces. Along with this, traditional classroom teaching is evolving, with more emphasis on collaborative learning and project-based teaching methods, which is rising demand for modular and flexible furniture that can be easily rearranged to suit different learning situations.
In addition, the growing emphasis on ergonomics is leading to the development of furniture that supports good posture, reduces strain on the back and neck, and promotes better concentration, positively influencing the market. Apart from this, multiple government bodies across the region are investing in education infrastructure, focusing on providing better learning environments for students and contributing to the market.
Therefore, the growing funding for constructing new schools, renovating existing schools, and purchasing new equipment, including furniture, are driving the market. Furthermore, the introduction of furniture compatible with digital devices such as tablets, laptops, and interactive whiteboards, is creating a positive market outlook.
COVID-19 Impact:
In comparison with Canada and Mexico, the US had the highest number of confirmed cases of COVID-19, which adversely affected the consumer goods industry in the region. The COVID-19 outbreak negatively impacted the supply and distribution chain, leading to restrictions imposed on almost all stages of the supply chain, ranging from the supply of raw materials to the overall delivery of products in the market.
Due to the lockdown imposed across North America and in compliance with government directives, several production units halted their services, resulting in a drop in the overall production of school furniture for a short term. The enforcement of social distancing and lockdown measures led players to downscale their capacity or temporarily pause output to review and implement new procedures to limit the risk of infection. The shortage of labor and staff was further impacted as people were reluctant to join work due to the fear of contracting the virus.
Key Questions Answered in This Report
- What was the size of the North America school furniture market in 2023?
- What is the expected growth rate of the North America school furniture market during 2024-2032?
- What are the key factors driving the North America school furniture market?
- What has been the impact of COVID-19 on the North America school furniture market?
- What is the breakup of the North America school furniture market based on the product?
- What is the breakup of the North America school furniture market based on the material?
- What is the breakup of the North America school furniture market based on the distribution channel?
- What are the key regions in the North America school furniture market?
- Who are the key players/companies in the North America school furniture market?
Key Attributes:
| Report Attribute | Details |
| No. of Pages | 125 |
| Forecast Period | 2023 - 2032 |
| Estimated Market Value (USD) in 2023 | $2.3 Billion |
| Forecasted Market Value (USD) by 2032 | $3.3 Billion |
| Compound Annual Growth Rate | 4.0% |
| Regions Covered | North America |
Companies Featured
- Herman Miller
- HNI
- KI
- Steelcase
- Fleetwood Group
- Hertz Furniture
- Knoll
- Virco
Key Market Segmentation
Product Insights:
- Desks and Chairs
- Storage
- Lab Equipment
- Others
Material Insights:
- Wood
- Metal
- Plastic
- Others
Distribution Channel Insights:
- Offline
- Online
Country Insights:
- United States
- Canada
For more information about this report visit https://www.researchandmarkets.com/r/ce0mx9
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