Global Contract Furniture Market is valued approximately USD 133.40 billion in 2021 and is anticipated to grow with a healthy growth rate of more than 5.10% over the forecast period 2022-2029. Any furniture that is created and made for business installation in waiting areas, lobbies, offices, and other high-traffic areas is referred to as contract furniture. The market is primarily driven by the rising demand for business furniture in various parts of the world. The industry's development is being accelerated by the steadily growing use of contract furniture in commercial settings like corporate parks, healthcare/medical facilities, five-star hotels & restaurants, and institutions. Additionally, the development of the office space market is being aided by the rising number of startups around the world. Moreover, the rising initiative by the key market players is creating lucrative growth opportunity for the market over the forecast period.
According to Startup Ranking, as of August 24, 2022, about 73,254 companies were doing business in the United States. Additionally, Google and Meta have been investing billions of dollars in enlarging their workplace facilities. As an illustration, the parent company of Facebook, Meta, has expanded its space in Silicon Valley, Texas, Boston, Chicago, Austin and Bellevue, Washington, in addition to leasing 730,000 square feet in Midtown Manhattan in August 2020. Over the forecast term, such initiatives are anticipated to enhance industry growth. However, the high cost of Contract Furniture stifles market growth throughout the forecast period of 2022-2029.
The key regions considered for the Global Contract Furniture Market study includes Asia Pacific, North America, Europe, Latin America, and Rest of the World. Asia-Pacific dominates the market space over the forecast period 2022-2029 due to the rising demand for operational spaces and the expansion of office and corporate building development throughout the region. Additionally, as the working populace has grown, so have the number of offices, which has increased the demand for office furniture. Furthermore, China is one of the world's top producers and exporters of commercial furniture. From 2022 to 2029, the Middle East and Africa area is anticipated to experience the second-fastest growth rate. This expansion can be ascribed to the growing demand for office space as well as the expanding hospitality sector. The increased demand for furniture in places such as coffee shops, bars, and restaurants, among other end-users, is also speeding up market growth.
Major market player included in this report are:
- Haworth Inc.
- Herman Miller Inc.
- Kinnarps Ab
- Steelcase Inc.
- HNI Corp.
- Knoll Inc.
- OFS Brands Inc.
- Global Furniture Group
- Kimball International Inc.
- Teknion Corp.
Recent Developments in the Market:
- In July 2022, HNI Corp. announced that it had completed the sale of its Lamex office furniture company, which it had operated in China and Hong Kong, to Kokuyo Co., Ltd. for USD 75 million.
- The merger of Herman Miller and Knoll in 2021 created the dominant leader in contemporary design, which sparked a transformation of the home and workplace.
Global Contract Furniture Market Report Scope:
- Historical Data 2019-2020-2021
- Base Year for Estimation 2021
- Forecast period 2022-2029
- Report Coverage Revenue forecast, Company Ranking, Competitive Landscape, Growth factors, and Trends
- Segments Covered Product, End-user, Distribution Channel, Region
- Regional Scope North America; Europe; Asia Pacific; Latin America; Rest of the World
- Customization Scope Free report customization (equivalent up to 8 analyst's working hours) with purchase. Addition or alteration to country, regional & segment scope*
The objective of the study is to define market sizes of different segments & countries in recent years and to forecast the values to the coming years. The report is designed to incorporate both qualitative and quantitative aspects of the industry within countries involved in the study.
The report also caters detailed information about the crucial aspects such as driving factors & challenges which will define the future growth of the market. Additionally, it also incorporates potential opportunities in micro markets for stakeholders to invest along with the detailed analysis of competitive landscape and product offerings of key players. The detailed segments and sub-segment of the market are explained below.
By Product:
- Chairs & Stools
- Tables & Desks
- Storage Furniture
- Sofa & Couch
- Others
By End-user:
- Government
- Corporate Offices
- Institutional
- Healthcare/Medical Facilities
- Hospitality
- Others
By Distribution Channel:
By Region:
- North America
- U.S.
- Canada
- Europe
- UK
- Germany
- France
- Spain
- Italy
- ROE
- Asia Pacific
- China
- India
- Japan
- Australia
- South Korea
- RoAPAC
- Latin America
- Brazil
- Mexico
- Rest of the World
Table of Contents
Chapter 1. Executive Summary
- 1.1. Market Snapshot
- 1.2. Global & Segmental Market Estimates & Forecasts, 2019-2029 (USD Billion)
- 1.2.1. Contract Furniture Market, by Region, 2019-2029 (USD Billion)
- 1.2.2. Contract Furniture Market, by Product, 2019-2029 (USD Billion)
- 1.2.3. Contract Furniture Market, by End-user, 2019-2029 (USD Billion)
- 1.2.4. Contract Furniture Market, by Distribution Channel, 2019-2029 (USD Billion)
- 1.3. Key Trends
- 1.4. Estimation Methodology
- 1.5. Research Assumption
Chapter 2. Global Contract Furniture Market Definition and Scope
- 2.1. Objective of the Study
- 2.2. Market Definition & Scope
- 2.2.1. Scope of the Study
- 2.2.2. Industry Evolution
- 2.3. Years Considered for the Study
- 2.4. Currency Conversion Rates
Chapter 3. Global Contract Furniture Market Dynamics
- 3.1. Contract Furniture Market Impact Analysis (2019-2029)
- 3.1.1. Market Drivers
- 3.1.1.1. Increasing number of start-ups
- 3.1.1.2. Growing demand for business furniture
- 3.1.2. Market Challenges
- 3.1.2.1. High Cost of Contract Furniture
- 3.1.3. Market Opportunities
- 3.1.3.1. Rising initiatives by the key market players
- 3.1.3.2. Growing end-use industry
Chapter 4. Global Contract Furniture Market Industry Analysis
- 4.1. Porter's 5 Force Model
- 4.1.1. Bargaining Power of Suppliers
- 4.1.2. Bargaining Power of Buyers
- 4.1.3. Threat of New Entrants
- 4.1.4. Threat of Substitutes
- 4.1.5. Competitive Rivalry
- 4.2. Futuristic Approach to Porter's 5 Force Model (2019-2029)
- 4.3. PEST Analysis
- 4.3.1. Political
- 4.3.2. Economical
- 4.3.3. Social
- 4.3.4. Technological
- 4.4. Investment Adoption Model
- 4.5. Analyst Recommendation & Conclusion
- 4.6. Top investment opportunity
- 4.7. Top winning strategies
Chapter 5. Risk Assessment: COVID-19 Impact
- 5.1. Assessment of the overall impact of COVID-19 on the industry
- 5.2. Pre COVID-19 and post COVID-19 Market scenario
Chapter 6. Global Contract Furniture Market, by Product
- 6.1. Market Snapshot
- 6.2. Global Contract Furniture Market by Product, Performance - Potential Analysis
- 6.3. Global Contract Furniture Market Estimates & Forecasts by Product 2019-2029 (USD Billion)
- 6.4. Contract Furniture Market, Sub Segment Analysis
- 6.4.1. Chairs & Stools
- 6.4.2. Tables & Desks
- 6.4.3. Storage Furniture
- 6.4.4. Sofa & Couch
- 6.4.5. Others
Chapter 7. Global Contract Furniture Market, by End-user
- 7.1. Market Snapshot
- 7.2. Global Contract Furniture Market by End-user, Performance - Potential Analysis
- 7.3. Global Contract Furniture Market Estimates & Forecasts by End-user 2019-2029 (USD Billion)
- 7.4. Contract Furniture Market, Sub Segment Analysis
- 7.4.1. Government
- 7.4.2. Corporate Offices
- 7.4.3. Institutional
- 7.4.4. Healthcare/Medical Facilities
- 7.4.5. Hospitality
- 7.4.6. Others
Chapter 8. Global Contract Furniture Market, by Distribution Channel
- 8.1. Market Snapshot
- 8.2. Global Contract Furniture Market by Distribution Channel, Performance - Potential Analysis
- 8.3. Global Contract Furniture Market Estimates & Forecasts by Distribution Channel 2019-2029 (USD Billion)
- 8.4. Contract Furniture Market, Sub Segment Analysis
- 8.4.1. Online
- 8.4.2. Offline
Chapter 9. Global Contract Furniture Market, Regional Analysis
- 9.1. Contract Furniture Market, Regional Market Snapshot
- 9.2. North America Contract Furniture Market
- 9.2.1. U.S. Contract Furniture Market
- 9.2.1.1. Product breakdown estimates & forecasts, 2019-2029
- 9.2.1.2. End-user breakdown estimates & forecasts, 2019-2029
- 9.2.1.3. Distribution Channel breakdown estimates & forecasts, 2019-2029
- 9.2.2. Canada Contract Furniture Market
- 9.3. Europe Contract Furniture Market Snapshot
- 9.3.1. U.K. Contract Furniture Market
- 9.3.2. Germany Contract Furniture Market
- 9.3.3. France Contract Furniture Market
- 9.3.4. Spain Contract Furniture Market
- 9.3.5. Italy Contract Furniture Market
- 9.3.6. Rest of Europe Contract Furniture Market
- 9.4. Asia-Pacific Contract Furniture Market Snapshot
- 9.4.1. China Contract Furniture Market
- 9.4.2. India Contract Furniture Market
- 9.4.3. Japan Contract Furniture Market
- 9.4.4. Australia Contract Furniture Market
- 9.4.5. South Korea Contract Furniture Market
- 9.4.6. Rest of Asia Pacific Contract Furniture Market
- 9.5. Latin America Contract Furniture Market Snapshot
- 9.5.1. Brazil Contract Furniture Market
- 9.5.2. Mexico Contract Furniture Market
- 9.6. Rest of The World Contract Furniture Market
Chapter 10. Competitive Intelligence
- 10.1. Top Market Strategies
- 10.2. Company Profiles
- 10.2.1. Haworth Inc.
- 10.2.1.1. Key Information
- 10.2.1.2. Overview
- 10.2.1.3. Financial (Subject to Data Availability)
- 10.2.1.4. Product Summary
- 10.2.1.5. Recent Developments
- 10.2.2. Herman Miller Inc.
- 10.2.3. Kinnarps Ab
- 10.2.4. Steelcase Inc.
- 10.2.5. HNI Corp.
- 10.2.6. Knoll Inc.
- 10.2.7. OFS Brands Inc.
- 10.2.8. Global Furniture Group
- 10.2.9. Kimball International Inc.
- 10.2.10. Teknion Corp.
Chapter 11. Research Process
- 11.1. Research Process
- 11.1.1. Data Mining
- 11.1.2. Analysis
- 11.1.3. Market Estimation
- 11.1.4. Validation
- 11.1.5. Publishing
- 11.2. Research Attributes
- 11.3. Research Assumption