Library Furniture Market Size, Share, Growth, Industry Analysis By Type (Library Seating, Library Tables, Library Shelves, and Others) By Application (Public Libraries, K-12 Schools, and Higher Education) and Covid-19 Impact, Latest Trends, Segmentation, Driving Factors, Restraining Factors, Key Industry Players, Regional Insights, and Forecast From 2023 To 2031

Updated On: 20 November 2023

LIBRARY FURNITURE MARKET REPORT OVERVIEW

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The global library furniture market size was USD 3571.5 million in 2021 and is expected to touch USD 9235.68 million in 2031, exhibiting a CAGR of 10.0% during the forecast period.

Library furniture is used to create chairs, tables, bookshelves, and others. Its rigidity and toughness are expected to propel its demand drastically. The rising adoption of furniture from educational institutes is expected to bolster its sales. It is used extensively in educational institutes because of the rising demand for aesthetically appealing and strong furniture. Manufacturers incorporate advanced paint coatings in their furniture to prevent decay and increase their product's shelf life. These factors are likely to bolster market growth. 

Increasing demand for high-quality educational amenities and facilities from libraries, schools, colleges, and others is expected to facilitate growth drastically. The emergence of several libraries and educational institutes is expected to boost product demand. These factors are responsible for the progress of the library furniture market. 

COVID-19 Impact: Halt on Manufacturing and Stringent Lockdown Regulations to Hinder Industry Growth

The COVID-19 pandemic has adversely affected several markets globally. This market is expected to be negatively affected during the COVID-19 pandemic. The spike in CAGR is attributable to the library furniture market growth and demand returning to pre-pandemic levels once the pandemic is over.

The COVID-19 pandemic has negatively affected several markets worldwide. The sudden spike in COVID-19 cases has provoked governments to deploy restrictions on manufacturing and transport. Several institutions have adopted online lectures to avoid virus spread and contain virus spread. As a result, the product's supply and demand have been affected adversely. The lack of raw materials and restrictions imposed on travel may hinder product sales. Further, the shutdown of schools, libraries, and universities may lower demand radically. However, lockdown relaxations may slowly fuel the progress of the industry. The implementation of social distancing, sanitization methods, and safety gear such as masks, gloves, and face shields may spike the demand for furniture. Therefore, these factors may facilitate market growth. 

LATEST TRENDS

"Increasing Adoption in Home Furnishing Solutions to Propel Market Development"

Library furniture's adoption in home furnishing is increasing extensively because of the evolving consumer preferences. It enhances the studying experience by improving comfort and increasing demand for the product. The rising demand for aesthetically appealing furniture is expected to boost the product's demand. The emergence of several residential and commercial buildings is expected to foster demand for library furniture from the construction sector. The increasing demand for high-quality amenities and services is expected to boost the product's demand. Manufacturers focus on building compact and comfortable solutions using various materials to improve the consumer experience. 

Increasing population and rising demand for aesthetically appealing library furnishing solutions are expected to boost the market growth. Increasing demand for luxurious constructions is expected to boost its demand. These factors are likely to fuel the progress of the library furniture market. 

LIBRARY FURNITURE MARKET SEGMENTATION

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• By Type Analysis

"By type, the market is segmented into library seating, library tables, library shelves, and others."

Library tables are expected to be the leading segment because of the rising demand for advanced products. The rising demand for durable and aesthetically appealing furnishing is expected to bolster demand. Its adoption in several residential and commercial buildings is expected to boost its demand rapidly. These factors may propel industry growth. 

• By Application Analysis

"Based on application, it is categorized into public libraries, K-12 schools, and higher education. "

The higher education segment may lead the market growth because of the rising demand for higher education services. The increasing demand for excellent education facilities is expected to bolster market progress. The incorporation of comfortable tables and seating in institutes is expected to fuel product demand. These factors may fuel library furniture market development. 

DRIVING FACTORS

"Increasing Investments in the Development of School Libraries to Bolster Market Progress"

Library furniture is used extensively in several schools because of its comfort and storage capacity. The rising focus on the development of educational services is expected to fuel product demand. Institutes invest heavily in the implementation of durable and comfortable furniture to increase students' experience. Increasing government investments in the creation of advanced educational facilities are expected to boost its demand in several government institutions and schools. The demand for comfortable seats is increasing rapidly. The rising demand for excellent educational infrastructure is expected to boost its adoption from educational institutes. These factors are likely to drive the progress of the market. 

"Rising Demand for High Quality and Durable Furniture to Bolster Market Growth"

Strong demand for durable and superior-quality library furniture is expected to boost its sales. The incorporation of durable materials and components in tables is expected to attract consumer demand. Manufacturers incorporate advanced metals and coatings to provide affordable furniture to consumers. The longer shelf-life and cost-effectiveness of the furnishing are expected to boost demand. Furthermore, the incorporation of visually appealing furnishing and bookshelves is expected to boost market development. These factors are likely to drive the library furniture market growth. 

RESTRAINING FACTORS

"Adoption of Online Lectures and IoT Services to Impede Market Progress"

The emergence of the pandemic has led to the adoption of online lectures, which, in turn, is expected to hinder market progress. The closure of colleges, institutes, and schools is expected to impede the product's sales drastically. Further, the dependence upon the internet of things (IoT) services is expected to eliminate the need for library furniture. These factors are likely to impede market progress. 

LIBRARY FURNITURE MARKET REGIONAL INSIGHTS

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Asia-Pacific is expected to dominate the library furniture market share because of rising per-capita income and evolving consumer preferences. The emergence of several universities in countries such as India, Japan, and others is likely to fuel product demand. Further, increasing demand from the construction sector for building library furnishing in houses shall enhance growth. Additionally, the emergence of several furnishing companies is expected to fuel market progress. 

Europe is the second-largest shareholder because of the emergence of several industries. The ease of raw material availability and presence of developed industrial sectors is expected to propel industry development. 

In North America, the development in educational facilities, rising spending capacity, and evolving consumer preferences may fuel library furniture's demand. The presence of several industries and libraries is expected to fuel demand. These factors are likely to propel product growth. 

In Latin America, strong spending capacity and investment in education facilities are expected to fuel product demand. These factors may boost the growth of the industry. 

KEY INDUSTRY PLAYERS

"Implementation of Strategies for Increasing Product's Adoption to Help Major Players Grow"

The prominent companies operating in the market incorporate advanced production machinery to increase their operational efficiency. It helps them reduce labor costs, boost operational efficiency, improve production quantity, and help organizations achieve their goals. Further, investments in research and development enable manufacturers to utilize advanced materials and improve their product's shelf-life. This strategy may allow them to attract consumers and boost their brand presence. Additionally, the launch of innovative products helps manufacturers gather consumer demand and establish a remarkable market position. 

List of Market Players Profiled

• Steelcase

• Herman Miller

• Haworth

• Teknion

• HNI Corporation

• KI

• Okamura

• Global FurnitureGroup

• KOKUYO

• Knoll

• VS

• Kimball International

• Kinnarps

• Minyi Furniture

• British Thornton

• Ailin Technology

• Smith System

• Lanlin Teaching

• Metalliform

• Jirong Furniture

REPORT COVERAGE

This report offers an analysis regarding the leading segments and latest market trends. It comprehensively discusses the impact of COVID-19 and the driving and restraining factors. It observes the regional developments and the strategies devised by the market's prominent players. It informs readers about the trends and the strategies that are responsible for the industry's growth.