The Business Research Company’s Institutional And Office Furniture Global Market Report 2021: COVID-19 Impact and Recovery to 2030
LONDON, GREATER LONDON, UK, May 11, 2021 /EINPresswire.com/ — Increasing demand for online shopping is expected to help the institutional furniture market and office furniture manufacturing market grow. Manufacturers can now sell their products on a far larger platform than before, which will increase their customer base geographically, driving the growth of the furniture manufacturing market. In countries such as India for instance, e-commerce portals have boosted the sales of furniture manufacturers by giving larger exposure to producers who were confined to one geography.
The institutional and office furniture market consists of sales of institutional and office furniture by entities (organizations, sole traders and partnerships) that produce institutional and office furniture by designing office furniture including office chairs and desks, office and store fixtures, such as showcases.The institutional and office furniture market is segmented into institutional furniture and office furniture.
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The global institutional and office furniture market size is expected to grow from $164.2 billion in 2020 to $200 billion in 2021 at a compound annual growth rate (CAGR) of 22%. The growth is mainly due to the companies rearranging their operations and recovering from the COVID-19 impact, which had earlier led to restrictive containment measures involving social distancing, remote working, and the closure of commercial activities that resulted in operational challenges. The market is expected to reach $257.6 billion in 2025 at a CAGR of 6%.
Asia Pacific is the largest region in the global institutional and office furniture market, accounting for 36% of the market in 2020. North America is the second largest region, accounting for 27% of the market. South America is the smallest region in the global institutional & office furniture market.
Major companies in the office furniture industry include IKEA AB, Herman Miller Inc, HNI Corporation, Okamura Corporation, and Knoll Inc.
The global institutional and office furniture market analysis report is segmented by type into institutional furniture, office furniture, by distribution channel into exclusive showrooms, online, supermarkets/hypermarkets, others, and by raw material into wood, plastic, metal.
Subsegments covered are school furniture, general purpose institutional furniture, public bar, bowling center, cafeteria, and restaurant furniture, wooden furniture, metal furniture, plastic furniture.
Institutional And Office Furniture Global Market Report 2021: COVID-19 Impact and Recovery to 2030 is one of a series of new reports from The Business Research Company that provides institutional and office furniture market overview, forecast institutional and office furniture market size and growth for the whole market, institutional and office furniture market segments, and geographies, institutional and office furniture market trends, institutional and office furniture market drivers, restraints, leading competitors’ revenues, profiles, and market shares.
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