DUBLIN--(BUSINESS WIRE)--The "U.S. Office Furniture Market Size, Share & Trends Analysis Report by Product (Seating, Modular Systems, Desks and Tables), by Distribution Channel (Online, Offline), and Segment Forecasts, 2022-2030" report has been added to ResearchAndMarkets.com's offering.
The U.S. office furniture market size is expected to reach USD 22.2 billion by 2030 and is expected to expand at a CAGR of 5.3% from 2022 to 2030
Various factors such as rising disposable incomes, the growth of the real estate industry, the growth of businesses, and consumer desire for luxury and premium furnishings are driving the market. Furthermore, the growing popularity of hybrid working cultures and the expansion of ed-tech platforms are driving the U.S. office furniture industry forward.
Due to social distancing norms, the COVID-19 pandemic has pushed millions of Americans to work from home. Work-from-home (WFH) has become the norm and is expected to continue for the foreseeable future, making it stressful for working professionals who are not equipped with comfortable office furniture.
During the COVID-19 pandemic, the demand to work and study at home has resulted in a surge in office furniture purchases. For example, HOM Furniture, based in Minneapolis, sells home office in all 17 of its locations and has 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.
Moreover, sustainable manufacturing practices are being implemented by office furniture manufacturers. This is mostly due to the rising consumer awareness regarding the importance of sustainable living, which is driving up the 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 demand for office furniture.
Secure transactions, cash-on-delivery alternatives, quick return policies, and integrated and centralized customer service are just a few of the policies that attract consumers to shop online.
U.S. Office Furniture Market Report Highlights
- The U.S. market for office furniture is expected to witness significant growth from 2022 to 2030. In recent years, continued expansion in building construction in the commercial segment and rising disposable income levels have fueled office furniture demand in the U.S.
- The seating product segment accounted for the largest revenue share of over 25.0% in 2021. The recent rise in home offices as a result of an increase in remote work has boosted the demand for office furniture. With individuals spending more than 8-10 hours a day at work, adequate seating has become increasingly important, hence the rise in ergonomic chairs was recorded in the U.S.
- The online distribution channel segment is expected to register the highest CAGR of 9.9% over the forecast period. Furniture e-commerce has accelerated as a result of the pandemic. Due to the 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 just a few of the new direct-to-consumer furniture brands aimed at millennials
Company Profiles
- Haworth
- Herman Miller Inc.
- HNI Corporation
- Knoll
- Steelcase
- Ashley Furniture Industries Inc.
- Global Furniture Group
- Kimball International Inc.
- Okamura Corp.
- Interior Systems, Inc.
For more information about this report visit https://www.researchandmarkets.com/r/35i1a6
