Office Furniture Market
Increasing employment rate and rise in demand of office spaces are some of the key factors impelling the growth of the market. Companies and corporates are making significant investments in office space interior designing in order to promote work-friendly and productive environment. Corresponding to the same, smart furniture is also being increasingly used in office spaces to improve the well-being of the employees.
Market Dynamics
The office furniture manufacturers are focusing on developing eco-friendly furniture products by procuring the wood from plantations that have a long-term conservation policy and who grow sustainable plants. Moreover, factors such as increased corporate enterprise and office spaces across the globe also supports the market growth. The rising use of recyclable materials in manufacturing office furniture is another prominent trend among the market players. In November 2021, according to a survey conducted by the Centre for Industrial Studies (CSIL) on office furniture manufacturers, totally recyclable products accounted for around 32% of office total furniture supply; partially recyclable products accounted for 45%; and non-recyclable products covered 23% of the total.
In order to keep up with demand for office furniture by employees (adopting work from home), vendors are adopting online retail strategies for reducing warehousing and transportation cost, thereby increasing their profit margins. The retailers are also adopting online furniture stores, which has helped them in reducing the cost of rental space and enhance the efficiency of inventory management. Amazon, Wayfair, and Ikea are some of the leading online retailers for office furniture.
Key features of the study:
Detailed Segmentation:
“*” marked represents similar segmentation in other categories in the respective section.
Detailed Segmentation:
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