Commercial Furniture Market Size, Share, Growth, And Industry Analysis, By Type (Seating Tables Case Good), By Application (Office Hospitality Education Healthcare), Regional Forecast To 2031

Updated On: 15 April 2024

Commercial Furniture Market Report Overview

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The global commercial furniture size was USD 66320 million in 2021 and is projected to touch USD 88267 million by 2031, exhibiting a CAGR of 2.9% during the forecast period.

The global COVID-19 pandemic has been unprecedented and staggering, with the commercial furniture market experiencing higher-than-anticipated demand across all regions compared to pre-pandemic levels. The sudden rise in CAGR is attributable to the market's growth and demand returning to pre-pandemic levels once the pandemic is over.

The market for furniture and accessories used in commercial settings like workplaces, hotels, restaurants, and other public locations is referred to as the commercial furniture market. This market offers a wide range of items, including furniture for seating, desks, tables, storage, and decorations. The rise of the hotel industry, the creation of office space, and a greater emphasis on creating visually pleasant and ergonomic work environments are some of the factors that are driving interest in the market.

Aesthetics refers to the design and style of furniture items utilized in public areas. Businesses are realizing how crucial it is to design a beautiful workplace that not only boosts employee satisfaction but also leaves an excellent first impression on customers and visitors. As a result, businesses are looking for furniture goods that serve a useful function while also enriching the look and feel of the workstation, and the architecture and aesthetics of industrial furniture have become increasingly significant. This pattern has resulted in the creation of furniture items with distinctive and contemporary designs that frequently combine form and function. Products manufactured from high-quality materials like wood, glass, and metal are becoming increasingly popular, as are furniture items with simple lines, intriguing shapes, and vibrant colors. Businesses are also seeking furniture items that can be modified to suit their unique requirements, including storage cabinets with built-in charging outlets and desks with changeable heights. In general, businesses are creating workspaces that are both practical and aesthetically pleasing, which makes them more desirable to both clients and staff thanks to the trend towards infusing aesthetics.

COVID-19 Impact: Pandemic lowered demand and created new prospects in the commercial furniture market

The COVID-19 outbreak has significantly impacted market growth. Major economic setbacks brought on by the pandemic include the closing of numerous firms and a decrease in construction activities. As a result, there is less demand for business furniture, which lowers sales for suppliers and makers of furniture. Although the pandemic has forced businesses to adjust to remote work and community distance constraints, it has also generated growth avenues for the corporate furniture market. Due to this, there is now more interest in home office furniture, such as desks, seats, and storage units, as well as items for teleconferencing and remote learning. Additionally, the epidemic has altered how businesses approach their workplaces, with many choosing more flexible and adaptive offices to support remote work and social isolation. As a result, there is now a higher demand for furniture that can be readily changed and used in a variety of ways in addition to furniture that incorporates technology by way of charging connections and programmable lighting.

Overall, COVID-19 has had a mixed effect on the commercial furniture market growth, with dropping sales in certain regions being partially compensated by rising demand in others. Demand is projected to rise as the world economy strengthens and firms start to operate again, especially as organizations emphasize providing secure and adaptable workspaces for their staff. However, the pandemic's long-term consequences on the industry are yet unknown, and it is expected that the market will be impacted by the current state of the economy and changing work patterns.

Latest Trends

"Growing environmental awareness drives demand for eco-friendly commercial furniture"

In the commercial furniture sector, sustainability and eco-friendliness relate to the growing emphasis on employing ecologically friendly materials and procedures in the production and usage of furniture goods. Growing environmental consciousness and a determination to lessen the carbon emissions of commercial premises are the trends driving this movement. Because of this, businesses are increasingly opting for furniture created from eco-friendly components like recycled or sustainable wood and built using ecologically acceptable production techniques. Furniture made of biodegradable materials, like bamboo and cork, is also gaining popularity, as are items that are simple to recycle or repurpose after their useful life. Businesses are seeking furniture items that are constructed from materials that are low in carbon emissions and have good energy efficiency. Products with features like programmable lighting integrated charging connections, and other innovations that eliminate the need for additional devices and consume less energy fall under this category. In general, the market is benefiting from the movement towards eco-friendliness and sustainability by assisting companies in designing workplaces that are both ecologically conscious and aesthetically pleasant, increasing their appeal to both clients and staff.

Commercial Furniture Market Segmentation

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• By Type Analysis

According to type, the market can be segmented into Seating, Tables, Case good.

• By Application Analysis

Based on application, the market can be divided into Office Hospitality Education Healthcare.

Driving Factors

"Adaptable workspaces drive demand for versatile commercial furniture"

In the business furniture sector, flexibility and adaptability refer to the rising demand for furniture items that can be quickly reconfigured and put to various uses. This trend is being driven by the demand for adaptable and flexible workspaces, as companies try to design spaces that can support a wide range of requirements and activities. To support various duties and activities like teleconferencing, remote work, and social distancing, firms are looking for furniture goods that are simple to move and reconfigure. Included in this are furniture items with height adjustable, modular construction, and mobile parts, including wheeled chairs and desks. Businesses are also searching for furniture that can be quickly adjusted for different user types, including furniture for teleconferencing and remote learning. Furniture designs that can be altered for various ergonomic requirements, including adjustable desks and seats, are also gaining popularity. Overall, the market growth is seeing a trend towards flexibility and versatility that is assisting companies in designing work areas that are more adaptable and better suited to the changing needs of their employees, making them more appealing and practical for a wider range of users.

"Rising health awareness drives demand for ergonomic commercial furniture"

In the commercial furniture market, ergonomics refers to the rising significance of furniture items that are created to be supportive, cozy, and healthy for users. Growing knowledge about the harmful effects of bad posture and prolonged sitting on productivity and health is what is fueling this movement. Businesses are therefore seeking furniture items that are ergonomically constructed, such as adjustable-height and tilt-dedicated seats and desks, as well as items that promote good posture and lower the risk of developing musculoskeletal disorders, like ergonomic mouse pads, footrests, and wrist rests. Businesses are also seeking furniture products with adequate lumbar support and padding, which are examples of products that are made to be comfortable. It is also becoming increasingly common for furniture products to have features like adjustable lighting, built-in charging outlets, and other technologies that eliminate the need for extra devices and lessen eye strain. Overall, businesses can design workspaces that are healthier, more comfortable, and more suited to the needs of their employees due to the ergonomics trend in the commercial furniture market share, which boosts overall productivity and well-being.

Restraining Factors

"Commercial furniture becomes more expensive and less available because of supply chain disruptions"

Any incidents that affect the flow of the raw materials and parts needed in the manufacture of furniture items are referred to as disruptions of supply chains in the industrial furniture market. Pandemics, like the COVID-19 pandemic, environmental catastrophes, like earthquakes and hurricanes, and trade disputes, such as tariffs and penalties, are a few frequent cases of supply chain disruptions. The availability and price of components and materials can be significantly impacted by these interruptions, which can have a considerable effect on the business furniture market. For instance, lockdowns and other steps taken during the COVID-19 pandemic to stop the virus's spread affected the movement of goods and the supply chain. Many furniture producers thus experienced a lack of components and materials and were compelled to pay more for those that existed. Natural catastrophes can also interfere with the flow of supplies by destroying ports, highways, and other infrastructure and making it challenging to transfer commodities. In addition to impacting the movement of commodities between nations and causing market uncertainty, trade negotiations can also affect the supply chain.

Commercial Furniture Market Regional Insights

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"Asia-Pacific dominates the market for commercial furniture because of its expanding middle class and good business climate"

Asia-Pacific is the largest market and is predicted to expand at the highest rate thanks to rising furniture demand in nations like China, India, and Japan. A sizable and expanding middle class in Asia-Pacific is fueling demand for high-end furniture products. In addition, the region's expanding economies and rising investments in retail and office space are fostering the expansion of the Asia-Pacific commercial furniture industry. Because there are so many suppliers and manufacturers in the region, Asia-Pacific accounts for a sizeable portion of the global market. Additionally, the area has a sizable and well-established logistical network, making it simpler for producers to ship their products to consumers both inside and outside the region. The expansion of the business furniture Asia-Pacific market is also being aided by the region's supportive business environment, government regulations, and expanding middle class. Overall, the Asia-Pacific region is anticipated to continue to lead the corporate furniture market in the years to come because of its sizable market, expanding middle class, and hospitable business climate.

Key Industry Players

"Major companies in the market have well-established distribution channels, a broad product selection, and a strong brand"

These market participants have a sizable share of the global market due to their well-known brands, extensive product lines, and well-established distribution systems. To stay ahead of the curve and provide innovative products that match the shifting needs of businesses and customers, they also make significant investments in research and development. Along with these well-known firms, several newer, smaller enterprises and startups are entering the market and providing innovative solutions to satisfy the shifting needs of both businesses and consumers. To gain a piece of the market share, these businesses frequently concentrate on markets or geographical areas.

List of Market Players Profiled

• Steelcase (US)
• Herman Miller (US)
• Haworth (US)
• HNI Corporation (US)
• Okamura Corporation (APAC)
• Kokuyo (APAC)
• ITOKI (APAC)
• Global Furniture Group (US)

Report Coverage

This report presents an overview of the global market, sales, revenue, and price. Analyses of the global market trends, with historic market revenue/sales data for 2017 - 2021, estimates for 2022, and projections of CAGR through 2031. This report researches the key producers and provides the sales of main regions and countries. Highlights of the upcoming market potential, and key regions/countries of focus to forecasting this market into various segments and sub-segments. This report focuses on the sales, revenue, market share, and industry ranking of main manufacturers, data from 2017 to 2022. Identification of the major stakeholders in the global market, and analysis of their competitive landscape and market positioning based on recent developments and segmental revenues. This report will help stakeholders to understand the competitive landscape, gain more insights, and position their businesses and market strategies in a better way.