U.S. Office Furniture Market Size, Share & Trends Analysis Report By Product Type (Seating, Modular Systems, Desks and Tables, Others), Competitive Landscape, And Segment Forecasts, 2018 - 2025

Industry Insights

The U.S. Office Furniture market size was estimated at 10.74 USD billion in 2016. Development of multi-functional furniture coupled with adoption of online retailing methods in order to reduce the operating expenses involved in sales and distribution are 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, as 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.

Product Insights

Demand for modularsystems - 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.

U.S. Office Furniture Market Share Insights

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 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 Scope

Segments covered in the report

This report forecasts revenue growth at global, regional & country levels and provides an analysis on 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