Library Furnitures Market Size, Share, Growth, And Industry Analysis By Type (Library Shelves, Library Tables, Library Seating, Other Furniture) By Application (Higher Education, K-12 Schools, Public Libraries) and Regional Forecast to 2032

Updated On: 15 April 2024

Library Furnitures Market Report Overview

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global Library Furnitures market size was USD 3116 million in 2020 and market is projected to touch USD 10295.3 million by 2032, exhibiting a CAGR of 10.4% during the forecast period.

 The COVID-19 pandemic has been unprecedented and staggering, with the library furnitures market experiencing lower-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.

Library furniture is furniture that is made expressly for use in libraries. Items such as desks, chairs, bookcases, and tables are included. Library furniture is significant because it contributes to the creation of an environment favorable to studying and reading. It also aids with the organisation and storage of books and other things.

The significant increase in CAGR is due to the library furniture market expanding and demand reverting to pre-pandemic levels once the pandemic has passed. The COVID-19 epidemic has had a negative impact on numerous markets around the world. During the COVID-19 epidemic, this market is projected to suffer. Library furniture includes items such as chairs, tables, and bookshelves. Its stiffness and durability are likely to significantly boost its demand. The increasing usage of furniture in educational institutions is projected to boost sales. Because of the growing demand for visually pleasing and durable furniture, it is widely utilised in educational institutions. Manufacturers use innovative paint coatings in their furniture to prevent decay and extend the life of the product. These factors will almost certainly boost market expansion. The rising demand for high-quality educational amenities and facilities from libraries, schools, and colleges, among others, is predicted to significantly boost growth. The establishment of new libraries and educational institutions is predicted to increase product demand. These elements are to blame for the growth of the library furniture market.

COVID-19 Impact: Stop Manufacturing and Implement Stringent Lockdown Regulations to Impact Industry Growth

The COVID-19 epidemic has had a negative impact on numerous markets around the world. The unexpected increase in COVID-19 cases has prompted governments to impose limitations on industry and transportation. Several institutions have implemented online lectures to prevent and control viral spread. As a result, goods supply and demand have been negatively impacted. Product sales may be hampered by a paucity of raw materials and travel restrictions. Furthermore, the closure of schools, libraries, and universities may significantly reduce demand. Lockdown relaxations, on the other hand, may hinder the industry's advancement. The use of social distancing, sanitization techniques, and safety equipment such as masks, gloves, and face shields may increase demand for furniture. As a result, these things may help the market.

Latest Trends

"Increased Adoption of Home Furnishing Solutions to Drive Market Growth"

Because of changing consumer preferences, library furniture is becoming increasingly popular in home furnishings. It improves the studying experience by raising comfort and product demand. The increased desire for aesthetically pleasing furniture is likely to drive up demand for the product. The construction sector is predicted to increase demand for library furniture due to the introduction of various residential and commercial buildings. Product demand is predicted to rise due to rising demand for high-quality amenities and services. Manufacturers strive to create small and comfy solutions out of a variety of materials in order to improve the user experience. The growing population and increased demand for aesthetically pleasing library furnishings are likely to drive market expansion. The rising demand for opulent structures is projected to drive up demand. These elements are likely to accelerate progress.

Library Furnitures Market Segmentation

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• By Type Analysis

According to type, the market can be segmented into library shelves, library tables, library seating, other furniture. Library shelves is anticipated to be the leading segment.

• By Application Analysis

Based on application, the market can be divided into higher education, K-12 Schools, public libraries. Higher education will be the dominating segment.

Driving Factors

"Increased Investment in School Library Development to Support Market Progress"

Because of its comfort and storage capacity, library furniture is widely used in many schools. Product demand is projected to be fueled by the increased emphasis on the development of educational services. Institutes make significant investments in the installation of long-lasting and pleasant furniture in order to improve the student experience. Increasing government investments in the development of modern educational facilities are predicted to increase demand in a variety of government institutions and schools. The need for comfy seats is steadily increasing. The growing demand for high-quality educational infrastructure is likely to drive its adoption by educational institutions. These variables are anticipated to propel the market forward.

"Rising Demand for High-Quality, Long-Lasting Furniture to Support Market Growth"

Strong demand for long-lasting, high-quality library furniture is projected to drive sales. The use of long-lasting materials and components in tables is predicted to increase consumer demand. Manufacturers use sophisticated metals and coatings to provide consumers with cheap furniture. The furnishing's prolonged shelf life and cost-effectiveness are projected to drive demand. In addition, the introduction of visually appealing furnishings and bookshelves is likely to drive market growth. These reasons are likely to fuel the expansion of the library furniture industry.

Restraining Factors

"Adoption of Online Lectures and IoT Services Will Slow Market Growth"

The emergence of the pandemic has resulted in the use of online courses, which is predicted to impede market progress. The closure of colleges, institutes, and schools is predicted to significantly reduce product sales. Furthermore, it is projected that the reliance on internet of things (IoT) services will decrease the need for library furniture. These obstacles are expected to stymie market growth.

Library Furnitures Market Regional Insights

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"Asia-Pacific region will dominate the market during forecast period"

Because of increased per-capita income and changing consumer preferences, Asia-Pacific is likely to dominate the library furniture industry. The establishment of a number of colleges in nations such as India, Japan, and others is expected to boost product demand. Furthermore, rising demand from the construction sector for home library furnishings would boost growth. Furthermore, the advent of new furnishing firms is projected to drive market growth.

Key Industry Players

"Key Players Focus on Partnerships to Gain a Competitive Advantage "

Prominent market players are making collaborative efforts by partnering with other companies to stay ahead of the competition. Many companies are also investing in new product launches to expand their product portfolio. Mergers and acquisitions are also among the key strategies used by players to expand their product portfolios.

List of Market Players Profiled

• Steelcase (U.S.)
• Herman Miller (U.S.)
• Haworth (U.S.)
• Teknion (Canada)
• HNI Corporation (U.S.)
• Okamura (Japan)
• Global Furniture Group (U.S.)
• KOKUYO (Japan)
• Knoll (U.S.)
• Kimball International (U.S.)
• Kinnarps (Sweden)
• Minyi Furniture (China)
• British Thornton (U.K.)
• Ailin Technology (China)
• Smith System(U.S.)
• Metalliform (U.K.)
• Jirong Furniture (China)

Report Coverage

This research profiles a report with extensive studies that take into description the firms that exist in the market affecting the forecasting period. With detailed studies done, it also offers a comprehensive analysis by inspecting the factors like segmentation, opportunities, industrial developments, trends, growth, size, share, and restraints. This analysis is subject to alteration if the key players and probable analysis of market dynamics change.