The institutional and office furniture manufacturing market comprise firms that are involved in designing office furniture including office chairs and desks, office and store fixtures, such as showcases. It also includes firms involved in producing all types of furniture parts and frames. The institutional and office furniture manufacturing market in this report is segmented into institutional furniture and office furniture.
Institutional and Office Furniture Manufacturing Market Size
Asia Pacific was the largest region in the institutional and office furniture manufacturing market in 2017, accounting for 45% market share. This can be attributed to high demand for office furniture from commercial establishments owing to economic growth in the country and also due to rapid growth in the education industry in China and India. North America was the second largest region accounting for 24% market share. Eastern Europe was the smallest region accounting for 2% market share.
Institutional and Office Furniture Manufacturing Market Trend
Globally, furniture manufacturers are re–allocating their production plants. Rapid wage increases, rising transportation costs and the difficulty of effective quality control at offshore locations are leading them to re–assess the attractiveness of off–shoring production locations in the developing countries, therefore furniture manufacturers are opting for near shore production facilities. For instance, IKEA which has a facility in Virginia procures timber from nearby locations and sells its furniture products to its consumers in the US.
The companies covered are IKEA AB, Herman Miller Inc, HNI Corporation, Okamura Corporation, and Knoll Inc.
The countries covered are USA, China, Germany, Brazil, Japan, UK, Spain, Russia, France, Australia, Italy, India and rest of the world.
Institutional and Office Furniture Market Segmentation
The institutional and office furniture manufacturing market is segmented into Institutional Furniture; Office Furniture.
Institutional Furniture segment includes companies engaged in producing general purpose institutional furniture for schools, libraries, churches and theaters. These products may be assembled or unassembled and manufactured on a custom or stock basis.
Office Furniture segment comprises companies engaged in producing office furniture and/or office and store fixtures. The furniture may be assembled or unassembled.