U.S. Office Furniture Market - Focused Insights 2023-2028

The US office furniture market stood at a commendable $14.30 billion in 2022 and is forecasted to reach a robust $19.38 billion by 2028, achieving a CAGR of 5.20% during this trajectory. A notable trend is the growing emphasis on ergonomic and modern designs. The surge in awareness about back pain, compounded by the existence of nearly 20,000 wellness and health spa centers in the US, has elevated the demand for ergonomic chairs that promise to reduce fatigue and support good posture. Another prominent shift is towards height-adjustable workstations and standing desks, a testament to the rising health awareness among individuals and the priority companies place on employee well-being.

The advent of co-working spaces has also left its mark, leading to an augmented demand for innovative chairs and personal lockers, especially when considering the 6,000 co-working areas scattered across the US as of 2022. As for purchasing platforms, startups, and smaller ventures seem to favor online avenues for furniture acquisitions, courtesy of the comparative ease and appealing price points they often present. Office pods are carving a niche for themselves, too, increasingly preferred for the privacy and noise reduction they provide in open-plan offices. Their adaptability, space efficiency, and aptness for focused tasks further solidify their place in the market.

However, it's not all smooth sailing. The rise of the remote work culture, catalyzed by the pandemic, poses a potential hurdle. While remote work has been lauded for the fiscal advantages and balance it extends to employees, it might dampen the momentum of the office furniture market.

In terms of the competitive landscape, the sector is a hotbed of rivalry with both domestic and international players in the fray. Factors like pricing strategies, design originality, product performance, and well-established relationships with critical stakeholders dictate the market dynamics. Yet, innovation remains at the heart of it all, with companies ceaselessly introducing designs that champion employee health and welfare. Market stalwarts in this arena comprise of names like Steelcase, Herman Miller, Inc., Haworth International, Ltd., HNI Corporation, Global Furniture Group, and Teknion Corporation.

In summation, as offices transform, the furniture market is quick to adapt, harmonizing health-centric concerns with modern aesthetics. While the market's prospects seem promising, challenges, especially from the increasing adoption of remote work, loom on the horizon.

The incorporation of AI-based products and services across industries has changed the technology landscape, significantly enhancing operational efficiency. Companies are now recognizing the value of mixed exhibitions due to their ability to engage customers and drive revenue.

The growing popularity of US exhibitions is leading to higher revenues from trade and visitors, presenting a lucrative opportunity for organizers. The rise in venue numbers, coupled with the expansion of exhibition stand sizes, further fuels the demand for mixed exhibitions. The trend of redesigning stands and exhibition models with 3D patterns to garner more attention is leading to the increased organization of diverse collections, thereby propelling market growth in the sector.

Key Highlights

• The US office furniture market is growing significantly due to the growing popularity of modular and ergonomic design of office furniture, the rising popularity of standing desks and height adjustment workstations, the growing trend of co-working spaces, increasing demand for office pods, increasing office infrastructure requirement for SMEs, establishments of new companies, and continuously changing designs and rising innovations.
• The rising consumer preference for ergonomic design-based chairs is rising in the US office furniture market due to growing awareness about the importance of ergonomic chairs for reducing back pain issues.
• The popularity of standing desks is rising across the office in the US, as it resolves various risks related to health due to sitting for long hours.
• The demand for office furniture from online store distribution channels is rising significantly from small businesses or startups.
• Steelcase, Herman Miller, Inc., Haworth International, Ltd., HNI Corporation, Global Furniture Group, and Teknion Corporation are the leading players and have intense market penetration. Vendors such as Ashley Furniture Industries Inc., Interogo Foundation, Okamura Corporation, Sauder Woodworking Company, Flexsteel Industries, Inc., La-X-Boy Incorporated, Urban Wood Goods, Krueger International, Inc., Humanscale, Interior Systems, Inc., 9to5 Seating, Autonomous, Kokuyo, Boss Office Products, Maverick Desk, SitOnIt Seating, and many others are the prominent players in the market with a noteworthy presence.
• The awareness about sustainable and eco-friendly products in the US has been rising for the last few years, which drives the demand for furniture which is made up of recycled plastic materials.
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