The U.S. Office Furniture market size was estimated at 10.74 USD billion in 2016. The development of multi-functional furniture coupled with adoption of online retailing methods in order to reduce the operating expenses involved in sales and distribution is anticipated to poise development in the industry through to 2025. However, a severe downturn in demand coinciding with the 2007-2009 US recession offset strong gains in other years, resulting in little overall change in demand over the 2006-2016 decade. Demand for office furniture is highly cyclical, fluctuating in response to macroeconomic trends such as office building construction, capital investment, and employment levels.
In commercial building and office construction, the furniture will be needed to outfit these new workspaces. A forecast increase in office improvement activity will further support gains as companies remodel work areas to include modern design features, such as open floor plans and collaborative work areas. However, the market for used furniture will continue to appeal to budget-conscious office purchasers.
Demand for modular systems - also known as office systems, workstations, or cubicles, or- is valued at USD 3.14 billion and is anticipated to reach USD 3.06 billion in 2025, representing 2.3% annual growth from 2017 to 2025. Vigorous growth in commercial and office building construction and remodeling activity is anticipated to buoy demand as companies furnish new office spaces. While replacement activity historically played a minor role in supporting demand - largely the result of product durability and lack of innovation - trends towards more open, collaboration-oriented workspace design will drive an increase in replacements.
Modular systems are movable workspaces with integrated work surfaces, space dividers, and lighting. Some units also feature integrated storage in the form of cabinets, drawers, or shelving. Cubicles can divide a larger office area into a number of individual workspaces, organizing the office into functional units and giving workers a modicum of privacy.
The U.S. office furniture market is served by both domestic and foreign manufacturers. This market is highly competitive, in that multiple firms often undergo competitive bidding for a furnishing contract. In contrast to the household furniture market, which is dominated by imports, domestically produced goods account for the majority share of office furniture demand. Although foreign producers may be more competitive on price, US producers offer critical advantages such as shorter lead times and product customization. However, imports have become predominant for the made-to-stock variety of office furniture sold by retailers, as the price is among the most important drivers of purchase decisions for those items.
Key market participants include Herman Miller, HNI Corporation, Steelcase, Haworth, Teknion Corporation, and others. The market players are using strategies such as collaboration, acquisition, and new product development and launches to strengthen their position in the market.
Report Attribute |
Details |
Market size value in 2020 |
USD 12.30 billion |
Revenue forecast in 2025 |
USD 14.31 billion |
Growth Rate |
CAGR of 3.2% from 2018 to 2025 |
Base year for estimation |
2016 |
Historical data |
2014 - 2016 |
Forecast period |
2018 - 2025 |
Quantitative units |
Revenue in USD million and CAGR from 2018 to 2025 |
Report coverage |
Revenue forecast, company share, competitive landscape, growth factors and trends |
Segments covered |
Product, region |
Country scope |
The U.S. |
Key companies profiled |
Herman Miller; HNI Corporation; Steelcase; Haworth; Teknion Corporation; others. |
Customization scope |
Free report customization (equivalent up to 8 analysts working days) with purchase. Addition or alteration to country, regional & segment scope. |
Pricing and purchase options |
Avail customized purchase options to meet your exact research needs. Explore purchase options |
This report forecasts revenue growth at global, regional & country levels and provides an analysis of the industry trends in each of the sub-segments from 2014 to 2025. For the purpose of this study, Grand View Research has segmented the U.S. office furniture market report on the basis of product:
Product Outlook (Revenue, USD Billion, 2014 - 2025)
Seating
Modular Systems
Desks & Tables
Others
b. The U.S. office furniture market size was estimated at USD 11.90 billion in 2019 and is expected to reach USD 12.30 billion in 2020.
b. The U.S. office furniture market is expected to grow at a compound annual growth rate of 3.2% from 2018 to 2025 to reach USD 14.31 billion by 2025.
b. Modular systems dominated the U.S. office furniture market with a share of 28.5% in 2019. This is attributable to the growth in commercial and office building construction and remodeling activities.
b. Some key players operating in the U.S. office furniture market include Herman Miller, HNI Corporation, Steelcase, Haworth, Teknion Corporation, and others.
b. Key factors that are driving the U.S. office furniture market growth include the growth of the commercial sector and an increase in office improvement activities.
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The home care & decor industry has been witnessing inconsistent growth, since the Covid 19 outbreak. As a result of the ongoing pandemic crisis, there has been a drop in the overall performance of discretionary products such as decorative fixtures, bedding products, to name a few. The virus outbreak has, however, led to substantial growth in categories such as cleaning and hygiene products. Prominent growth in the e-commerce business is also one of the positive influences of the outbreak, wherein companies are focusing on expanding their distribution networks to online channels in order to cater to the surging consumer demand. Our team is diligently working towards accounting these factors in our report with the aim of providing you with the up-to-date, actionable market information and projections.