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North America Contract Furniture Market on Rise, Expected to Reach USD 48,224.07 Million by 2030

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North America Contract Furniture Market on Rise, Expected to Reach USD 48,224.07 Million by 2030

June 06
19:45 2023
North America Contract Furniture Market on Rise, Expected to Reach USD 48,224.07 Million by 2030
Chairs & tools are the leading segment by type and held over 35% share in terms of value in 2022, while the sofas segment is likely to exhibit the fastest CAGR during the forecast period.

June 6, 2023 – Credence Research, a global market research and consulting firm, has recently released a detailed report on the North America Contract Furniture Market, offering comprehensive insights and forecast data. The report revealed that the market, which was valued at USD 31,886.22 Million in 2022, is expected to reach USD 48,224.07 Million by 2030, growing at a CAGR of 5.13% between 2023 and 2030.

The market’s significant growth drivers include the global expansion of e-commerce, corporate clients’ preference for modular furniture, the rising popularity of smart furniture, trends towards contemporary work environments, and changing lifestyles.

“The North American contract furniture market is undergoing a major shift, with companies innovating in designs and materials to cater to the changing consumer preference for modular and smart furniture,” says the team at Credence Research. “These trends, coupled with the rise of e-commerce and the changing work environment, are accelerating the growth of the market.”

The report further segments the market by type, end-user, distribution channel, and country. The corporate offices segment dominated the global demand for contract furniture, with over 40% share in 2022, with an expectation of continued growth. The United States led the market with over 80% share in 2022 and is predicted to be the fastest-growing segment between 2023 and 2030.

Despite the promising outlook, market restraints such as high cost and limited product availability in terms of color, style, and configuration may impact growth. However, major players in the market are focusing on product innovation, expanding their distribution channels, and mergers and acquisitions to stay ahead.

Recent industry highlights include the collaboration between Herman Miller Gaming and G2 Esports, the acquisition of the Lame Office Furniture division of HNI Corporation by Kokuyo, and the merger of Herman Miller and Knoll. These strategic moves indicate a competitive and innovative industry landscape.

“The key market players, such as Haworth Inc., Herman Miller Inc., Humanscale International Holdings Ltd., Knoll Inc., Steelcase Inc., and others, are setting new standards in the industry through their innovative products and strategic initiatives,” the report adds.

The future outlook for the market remains positive, with significant growth potential, especially in the United States, driven by high demand for interior decorating and consumers’ rising interest in modular furniture.

Table of Content –

CHAPTER NO. 1 : INTRODUCTION 12

1.1. Report Description 12

1.1.1. Purpose of the Report 12

1.1.2. USP & Key Offerings 12

1.2. Key Benefits for Stakeholders 12

1.3. Target Audience 13

1.4. Report Scope 13

CHAPTER NO. 2 : EXECUTIVE SUMMARY 15

2.1. Contract Furniture Market Snapshot 15

2.2. North America Contract Furniture Market, 2017 – 2030 (USD Million) 17

CHAPTER NO. 3 : COVID 19 IMPACT ANALYSIS 18

3.1. Impact Assessment of COVID-19 Pandemic, By Region 18

CHAPTER NO. 4 : CONTRACT FURNITURE MARKET – INDUSTRY ANALYSIS 23

4.1. Introduction 23

4.2. Market Drivers 24

4.2.1. Interior design and decoration are in high demand. 24

4.2.2. Modular furniture is becoming increasingly popular 24

4.2.3. Growth in the e-commerce industry 25

4.3. Market Restraints 26

4.3.1. Restraining Factor Analysis 26

4.3.2. Economic uncertainty 26

4.4. Market Opportunities 27

4.4.1. Creating hybrid workplace cultures 27

4.5. Porter’s Five Forces Analysis 28

4.6. Value Chain Analysis 29

CHAPTER NO. 5 : KEY INVESTMENT POCKETS ANALYSIS 30

5.1. Top Investment Pockets 30

5.1.1.1. Contract Furniture Market Attractiveness Analysis, By Type 30

5.1.1.2. Contract Furniture Market Attractiveness Analysis, By End-user 31

5.1.1.3. Contract Furniture Market Attractiveness Analysis, By Distribution Channel 32

5.2. Incremental Revenue Growth Opportunity, 2023 – 2030 33

5.2.1. Type 33

5.2.2. End-user 33

5.2.3. Distribution Channel 34

CHAPTER NO. 6 : MARKET POSITIONING OF KEY PLAYERS 35

6.1. Company Market Share Analysis –2020 and 2022 35

6.1.1. North America Contract Furniture Market: Company Market Share, 2022 35

6.1. North America Contract Furniture Market Company Volume Market Share, 2022 36

6.2. North America Contract Furniture Market Company Revenue Market Share, 2020 to 2022 37

6.3. Market Position of Key Players 2022 38

6.3.1. Market Position of Key Players, 2022 38

6.4. Strategic Developments 39

6.4.1. Acquisitions & Mergers 39

CHAPTER NO. 7 : CONTRACT FURNITURE MARKET – BY TYPE SEGMENT ANALYSIS 41

7.1. Contract Furniture Market Overview, by Type Segment 41

7.1.1. North America Contract Furniture Market Revenue Share, By Type, 2022 & 2030 41

7.2. Desks & Tables 42

7.3. Chairs & Tools 42

7.4. Storage Cabinets 43

7.5. Sofas 43

7.6. Cafeteria Tables & Chairs 44

7.7. Others (Presentation Stands & Lightings etc.) 44

CHAPTER NO. 8 : CONTRACT FURNITURE MARKET – BY END-USER SEGMENT ANALYSIS 45

8.1. Contract Furniture Market Overview, by End-user Segment 45

8.1.1. North America Contract Furniture Market Revenue Share, By End-user, 2022 & 2030 45

8.2. Corporate Offices 46

8.3. Hospitals 46

8.4. Hospitality & Food Services 47

8.5. Institutions 47

8.6. Others (Schools, Airports etc.) 48

CHAPTER NO. 9 : CONTRACT FURNITURE MARKET – BY DISTRIBUTION CHANNEL SEGMENT ANALYSIS 49

9.1. Contract Furniture Market Overview, by Distribution Channel Segment 49

9.1.1. North America Contract Furniture Market Revenue Share, By Distribution Channel, 2022 & 2030 49

9.2. E-commerce websites 50

9.3. Company-Owned Websites 50

9.4. Specialty Stores 51

9.5. Furniture Marts 51

9.6. Others 52

………………..

For more information on the North America Contract Furniture Market, download the full report at – https://www.credenceresearch.com/report/north-america-contract-furniture-market

 

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Media Contact
Company Name: Credence Research
Contact Person: Gunakesh Parmar
Email: Send Email
Phone: +91 8085895002
City: Gwalior
State: MP
Country: India
Website: https://www.credenceresearch.com/report/north-america-contract-furniture-market

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