PUBLISHER: Mordor Intelligence | PRODUCT CODE: 1630386
PUBLISHER: Mordor Intelligence | PRODUCT CODE: 1630386
The Indonesia Office Furniture Market is expected to register a CAGR of 4.76% during the forecast period.
Indonesia is known as one of the world's leading furniture manufacturers. Its teak and rattan products are sought after in both the local and international markets. Despite its extensive timber resources, Indonesia is currently ranked fourth in ASEAN in terms of furniture export. Various bureaucratic hurdles are hampering Indonesia's furniture industry.
The office furniture market in Indonesia is expected to gain high revenue in the future due to its expanding customer base across all regions of the country. In addition, the concept of sharing workspaces has also gained wide popularity around the country. Over the past few years, the rising concern for environmental protection heightened the demand for eco-friendly office furniture. Manufacturers are incorporating eco-friendly materials into their furniture. These factors are anticipated to drive the growth of the Indonesian office furniture market over the next few years.
The rapid pace of urbanization in Indonesia stands as a pivotal driver fueling the growth of its office furniture market. The growing urbanization in the country and the construction of new offices are escalating the demand for office furniture products. Limited land space in urban areas resulted in vertical construction expansion. Thus, increasing construction and the establishment of new office buildings are expected to drive the demand for office furniture. Factors such as rapid urbanization, inflating income levels, and increasing allowances provided by companies to set up offices at employees' homes as part of the work-from-the-home policy are anticipated to fuel the sales of smart home office furniture for better work convenience and comfort.
Wooden furniture dominates the market share and is poised for further growth in the coming years. Numerous local companies in Indonesia utilize reclaimed wood to create various types of office furniture, ranging from tables to chairs, often complementing their efforts with local reforestation programs. Using sustainable and eco-friendly materials is a factor driving the demand for wooden furniture in the country. Moreover, wooden furniture manufacturers are increasingly focusing on providing eco-friendly and adaptable products to gain a competitive edge. The rising demand for luxury wooden furniture to enhance office aesthetics is poised to fuel the industry's growth.
The Indonesian office furniture market boasts a diverse landscape characterized by a multitude of players. This report delves into the operations of key entities within this dynamic market. Leveraging technological strides and a penchant for innovation, smaller and mid-sized firms are expanding their footprint. This expansion is evident through their acquisition of new contracts and ventures into previously untapped markets. Notable entities in this arena include Chitose Internasional Tbk, Furnindo International, Indachi Office Furniture, Vinoti Office, and Stramm.