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Office chairs has a tendency of providing a higher level of comfort and flexibility to the working personals in offices and industries. Designing a variety of multifunctional chairs by the manufacturers is one of the important aspects of driving revenues from the office chair segment. Nowadays, companies are keenly focusing on the latest technology trends that can be incorporated in the design of the office chairs to corporate professionals. For instance, in July 2019, Herman Miller has launched ‘Cosm’ an innovative and highly durable office chair that has a high level of functionality and quality.
Organized and unorganized furniture businesses across the globe play an important role in the manufacturing of office chairs, which in turn is expected to drive the market growth. Various management practices such as supply chain management and inventory management are the essential practices for the companies associated with the furniture manufacturing industry. Furthermore, establishing a prominent relationship with the dealers and raw material suppliers is an essential factor for the sustainability of the office chair business. Increasing the provision of comfort solutions to the corporate offices through furniture products by the companies fuels the growth of the office chairs businesses.
Increasing requirements of the furniture products by the corporates along with growing commercial housing demand are expected to drive the requirement for the various types of office chairs. Rising demand for computer usage in various industries such as IT, telecom, internet, and many others fosters the consumption of computer chairs in the corporate areas. Additionally, increasing adoption of the drop shipping methodology by the companies for their online businesses along with rising internet penetration across the globe is propelling the growth of the market. Furthermore, the growing trend of interior designing and renovation in corporate offices creates future opportunities for the demand for furniture products.
Moreover, increasing infrastructural facilities related to the educational institutes and schools is propelling the demand for the conference chairs for the various meetings in the auditoriums and seminar halls. According to the U.S. Department of Commerce, total educational construction spending in the United States has increased by 2.3% in 2020 as compared to the previous year. Additionally, the growing demand for furniture manufacturing businesses and the companies associated with it helps to provide an efficient supply of the various types of office chairs for meeting the growing demand and thereby likely to drive the market growth.
However, higher shipping and transportation cost of the various furniture products is anticipated to hamper the market growth.
Key Market Driver -
Growing demand from commercial sector is projected to drive market growth
Key Market Restraint -
Higher shipping and maintenance cost is anticipated to restrain market growth.
The key companies involved in the global office chairs market are Steelcase, Herman Miller, HNI, Flokk, Haworth Zody, Serta Mid-Back, Alera Elusion, GM Seating, Eurotech, Balt Butterfly, etc. also, some key manufacturers associated with the office chairs market are, KI, Technion, OFS, Flexsteel Furniture, Virco, CF group and many others.
The global office chairs market is segmented by product type, by material, by distribution channel, and by geography. By product type, the market is segmented into ergonomic chairs, executive office chairs, conference chairs, computer chairs, and others such as mesh office chairs and folding chairs. The computer chairs segment is expected to hold the major share owing to the growing usage of computers among corporates and various industries for operational and administration purposes coupled with the rising number of computer operator professionals across the globe.
Based on material, the market is segmented into mesh, leather, fabric, and plastic. Mesh material segment is expected to dominate the market as mesh office chairs provide more sitting comfort to the working professionals during their long working hours in the offices as compared to other office chair options. Additionally, mesh chairs are lesser resistant to the skin that avoids skin irritation problems as compared to other types of materials.
Based on the distribution channel, the market is segmented into offline and online channels of distribution. Office channel including specialty distributors and direct selling channel is projected to hold a major share due to the large spread of the specialty distributors of the furniture businesses across the globe.
By region, the market is segmented into North America, Europe, Asia Pacific, South America, and Middle East & Africa.
Asia Pacific region is projected to dominate the global office chairs market owing to the large number of transactions related to the commercial housing facilities across the countries such as China, India, Hong Kong, and Singapore. According to the PwC, commercial real estate transaction volume in China has reached USD 25 billion within the first half of 2019 and witnesses 174% of the growth year on years. Additionally, a large base of prominent companies in the furniture business such as Herman Miller, Steelcase, and many others in the Asia Pacific region helps to meet corporate demand which is thereby likely to flourish the office chair market.
South America is expected to grow at a faster rate owing to the increasing demand for innovative office chairs among corporate professionals in the region. Moreover, increasing the income of the populations in countries such as Brazil, and Argentina is driving the consumption of the luxury office chairs among corporate areas.
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