The institutional and office furniture manufacturing market comprise firms 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.
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.
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.
Companies Covered: IKEA AB, Herman Miller Inc., HNI Corporation, Okamura Corporation, Knoll Inc.
Market Segments Included: Institutional Furniture; Office Furniture
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