PUBLISHER: Bizwit Research & Consulting LLP | PRODUCT CODE: 1269645
PUBLISHER: Bizwit Research & Consulting LLP | PRODUCT CODE: 1269645
Global Contract Furniture Market is valued approximately USD 133.40 billion in 2021 and is anticipated to grow with a healthy growth rate of more than 5.10% over the forecast period 2022-2029. Any furniture that is created and made for business installation in waiting areas, lobbies, offices, and other high-traffic areas is referred to as contract furniture. The market is primarily driven by the rising demand for business furniture in various parts of the world. The industry's development is being accelerated by the steadily growing use of contract furniture in commercial settings like corporate parks, healthcare/medical facilities, five-star hotels & restaurants, and institutions. Additionally, the development of the office space market is being aided by the rising number of startups around the world. Moreover, the rising initiative by the key market players is creating lucrative growth opportunity for the market over the forecast period.
According to Startup Ranking, as of August 24, 2022, about 73,254 companies were doing business in the United States. Additionally, Google and Meta have been investing billions of dollars in enlarging their workplace facilities. As an illustration, the parent company of Facebook, Meta, has expanded its space in Silicon Valley, Texas, Boston, Chicago, Austin and Bellevue, Washington, in addition to leasing 730,000 square feet in Midtown Manhattan in August 2020. Over the forecast term, such initiatives are anticipated to enhance industry growth. However, the high cost of Contract Furniture stifles market growth throughout the forecast period of 2022-2029.
The key regions considered for the Global Contract Furniture Market study includes Asia Pacific, North America, Europe, Latin America, and Rest of the World. Asia-Pacific dominates the market space over the forecast period 2022-2029 due to the rising demand for operational spaces and the expansion of office and corporate building development throughout the region. Additionally, as the working populace has grown, so have the number of offices, which has increased the demand for office furniture. Furthermore, China is one of the world's top producers and exporters of commercial furniture. From 2022 to 2029, the Middle East and Africa area is anticipated to experience the second-fastest growth rate. This expansion can be ascribed to the growing demand for office space as well as the expanding hospitality sector. The increased demand for furniture in places such as coffee shops, bars, and restaurants, among other end-users, is also speeding up market growth.
The objective of the study is to define market sizes of different segments & countries in recent years and to forecast the values to the coming years. The report is designed to incorporate both qualitative and quantitative aspects of the industry within countries involved in the study.
The report also caters detailed information about the crucial aspects such as driving factors & challenges which will define the future growth of the market. Additionally, it also incorporates potential opportunities in micro markets for stakeholders to invest along with the detailed analysis of competitive landscape and product offerings of key players. The detailed segments and sub-segment of the market are explained below.
List of tables and figures and dummy in nature, final lists may vary in the final deliverable
List of figures
List of tables and figures and dummy in nature, final lists may vary in the final deliverable