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Market Research Report

United States Office Furniture Market Analysis by Product Type, By Material Used, by Consumer Segment, by Category and By Distribution Channel & COVID-19 impact with Forecast to 2030

Published Date :

2020-09-01

Report Pages :

780

Format :

PdF/PPT/XLS/Hard Copy

Region Covered :

United States

US Office Furniture Market Overview

The United States Office Furniture market valued USD 14.48 billion in 2018 and is expected to grow at a CAGR of 3.25% from 2017 to 2030. The United States is home to the largest office furniture market in the world generating over USD 15.4 billion revenue in 2018. Some of the leading office furniture companies in the world are from United States, for example, Steelcase, Herman Miller and Haworth. Steelcase generates the majority of its revenue from systems and storage products such as file cabinets and desks while Herman Miller‘s sales are driven by seating products. Modular systems emerged as the largest solution segment in 2016. Office furniture represents 15.02% of the total global furniture market. There is a steady competition among the players over furniture quality, installations and price of the furniture. Thereby vendors and office furniture manufacturers in the United States are coming up with various innovations to lead this market and grow substantially.

Standing desks are a relatively new fixture in offices awnd are perfect for those who prefer not to sit for extended periods of time for health or comfort reasons. Ergonomic chairs and desks are perfect for combating back and wrist pains which plague so many office workers.

Traditional timber is replaced by imported timber. Nonetheless, barring high trade barriers imports will likely continue to rise posing a major long term challenge for the industry. The value of imports to the United States amounted to over USD 54 billion in 2017, making the United States the leading importer of furniture in the world. In terms of office furniture, the majority of the import value comes from wooden furniture rather than metal furniture. The United States exported about USD 168.60 million of wooden furniture and USD 215.01 million of metal furniture in 2018. In 2018 , the ready to assemble furniture market in the United States was valued at USD 2.42 billion.

United States Office Furniture Market Segmentation

By Product Type

  • Seating’s (Office Chairs, Stools, Lounge Seating, Benches and Others)

  • Desks and Workspaces

  • Storage

  • Accessories

  • Tables

By Material Used

  • Wood

  • Metal

  • Plastic

  • Others (Glass, Leather, Steel and more)

By Consumer Segment

  • Commercial Office

  • Home Office

By Category

  • Mass

  • Premium/Luxury

By Distribution Channel

  • Online

  • Offline (Retail, Hypermarkets, Supermarkets and Others)

United States Office Furniture Market Dynamics

Growth Drivers

Increasing cascade of startups & home office are major factors driving the US office furniture market. In US, demand of home offices is taking a dig due to the concept of work-from-home and therefore increasing the sales of desktop workspace and chairs. The demand is driven by increasing rise in office spaces such as which in turn derives the development of an economy which helps derive the demand for requirement of office furniture.

Challenges to Market Growth

The office furniture market is facing competition from local players whose furniture is cost effective for the customers and provides better facilities during the customization of office furniture as well as after sales service which is difficult on the online platforms. In addition, rising import penetration and volatile input costs have further hampered industry revenue and hurt profitability. Volatile input costs, rising pressures from cheap Chinese imports and lower sales volume of goods have caused the industry's profitability to fall. In particular, lower sales volumes of goods have led to under-absorption of fixed costs such as labor and utility expenses, further squeezing margins that high input costs already hampered

Trending in US Furniture Industry

  • Emergence of online furniture stores is the basic trend which is seen these days in the United States

  • Increasing adoption of convertible workstations

  • Evolution of multi-functional furniture

  • Rising customization of office furniture

  • Rising trend is the manufacturer of ergonomic chairs which maintain the correct postures while working for longer hours. Such innovations are changing the furniture market by making the furniture more adaptable to person to person because of customization available to the consumers.

Market Opportunities

An expanding US economy and increased focus on work space aesthetics have fueled the demand for luxury furniture across the United States. A new trend in the office furniture market is the convertible workstations being offered by the manufacturers. Many companies prefer a standing desk solution that can be used as a table top and can also be converted to regular sitting workstations as per requirement. Many companies are owing to standing meetings instead of seated ones owing to risks posed to one’s health due to prolonged sitting. This new trend of standing meetings and conferences will have a positive impact on the growth during the forecasted period.

US Office Furniture Market Segmentation Analysis

Human scale abides by the philosophy that less is more. Its designs are simple, honest and functional. Furthermore, it puts human health first. Its articulating keyboard systems, which place the keyboard close to the worker’s body at a carefully sloped angle, are the best in the industry. The Freedom Chair offers weight-sensitive reclining and adjustable air and headrests, and has even been included on the sets of several Hollywood movies and TV shows. Demand for modular systems also known as office systems , representing 2.3 % annual growth from 2017-2030. Vigorous growth in commercial and office building construction and remodeling activities is bound to grow demand as companies furnish new office spaces. While replacement played a minor role in supporting demand largely resulting of product durability and lack of innovation- workspace design will drive an increase in replacements.

On the basis of products, there is the high demand for the office chairs having the market share of 14% in 2017 which includes swivel chairs, stacking chairs, ergonomic chairs and benches due to the necessity of the comfortable working conditions. In the distribution channel segment, the use of online platforms is increasing gradually and shifting form offline platforms for the distribution of the office furniture in order to cater the larger segment of the customers worldwide.

Players Specific Data (Product Launch, International and Domestic Players Dominance, sales Distribution)

Product Launch

Steelcase has launched Lite Scale Glazing is a ½” glass solution with a minimalist recessive design meant to integrate with the modular wall systems along with traditional construction. With Lite Scale, glass meets at the corners whether T-shaped, L-shaped or custom angle without the need for vertical posts. This glazing solution also allows creates long runs of virtually seamless glass. Lite Scale achieves a minimalist look with minimal impact on the budget. It is economically available in all stores and outlets. Lite Scale can be used to create an entire enclosure or applied as a glass front to spaces made with conventional architecture. This system works with a range of glass types including tempered and laminated glass. It uses Cloaking technology to obscure digital screens while maintaining clear open views.

International and Domestic Players Dominance in Office Furniture Market

Steelcase has been in the business for more than a century. It’s a leader in both furniture production and research on workplace design. Steelcase also offers an array of workplace surveys to help facility managers pinpoint areas of improvement in their own companies. Steelcase can help there too with old furniture. Its consultants can advise whether it should be repurposed, recycled, donated or placed at one of your other office locations. Steelcase was the top office furniture company in the world with revenues approximately USD 3.44 Billion. Herman Miller net sales in the United States amounted to approximately USD 1.86 Billion. In 2018 the value of wooden office furniture imported to the United States was approximately USD1.05 Billion. In 2018, the value of metal office furniture imported to the United States was approximately 622 USD Million. The value of office equipment imported to the United States was approximately 72.5 million USD dollars. China was the leading exporter of furniture to the rest of the world with an export value of around 58.34 billion USD dollars. Germany ranked second exported approximately 12.35 billion USD dollar worth of office furniture. The imports are predominant for the made to stock variety of office furniture sold by retailers as price is among the most important drivers of purchase decisions.

 

Exports

2017(Million USD Dollars)

China

58335.9

Germany

12348.7

Poland

11356.2

Italy

11095.1

Mexico

8013.7

Vietnam

6382.5

Canada

4595.3

Czech Republic

4405.4

United Kingdom

3054

 

Imports 

2017(Million USD Dollars)

Germany

15026.7

United Kingdom

9101.1

France

8563.4

Canada

7085.9

Japan

6655.7

Netherlands

4828.3

Australia

3448.7

Spain

3336

Switzerland

3307.2

Mergers and Acquisitions: Office Furniture Market

US based independent dealer Office Environment company has announced the Merger with a fellow dealer Kerr Office Group. Kerr Office Group has purchased the assets and goodwill of Office Environment Company to strengthen its position in Kentucky where it is based. The financial transaction are yet to be disclosed .In addition to gaining entry to Louisville Kentucky, Office Environment Company is a Haworth dealer which will provide an excellent platform upon which to grow the contract furniture business. Kerr will provide Office Environment Company will a broad range of services including copier, equipment and supplies .The leadership team will join the Office Group management team. The deal is expected to be covered in approximately three months.

 

Office Furniture Market: Sales Distribution Data

Ikea was the second highest ranked specialty furniture stores in the United States with a sales amounted to about USD3.3 Billion. Ikea ranked second with sales of approximately 5.91 billion US Dollars in 2018. In 2018 retail e-commerce revenue from furniture sales amounted to 65.1 Billion US Dollars and is projected to increase to almost 100 Billion USD in 2022. Furniture accounted for 12.9 percent of total retail e-commerce sales in the United States.Wayfair‘s online revenue reached more than 3.38 Billion US Dollar in 2017. Way fair generates a majority of its revenue via direct retail sales. Annual Revenue of Way fair from 2012 to 2018 is USD$ 6779.17 Million. In 2018 Bed Bath and beyond had retail sales of approximately 10.72 billion USD in the United States.

The online furniture and home ware sales will see an average yearly growth of 10% worldwide. This means that the growth driven by ecommerce outperforms the overall market growth nearly three times. While the digital buyer penetration is expected to hit 11.5% in 2020, it is projected to reach nearly 18% over the next couple of years. Changing buying habits are mostly at fault here as online and mobile shopping has become millennial’ second nature. Product content such as high quality imagery and social proof in the form of customer reviews now serve as enough touch points for the consumer to make their purchase decision. Indeed, the majority of consumers still say they prefer to shop for their furniture in stores, but the opposite trend is quickly turning the tide. It has been noticed by large retailers such as the Swedish giant IKEA or the American marketplace Way fair, who have been investing heavily into their online presence and are securing ever larger market share in household ecommerce.

Over the five years to 2019, the Online Office Furniture Sales industry's revenue is expected to grow at an annualized rate of 10.0% to $12.4 billion. Much of this growth has been due to the increasing prevalence of e-commerce in general, as well as business owners growing more accepting of buying large items, such as furniture, online. Ordering office furniture online makes it easier for businesses to view a wide selection of products, compare prices and arrange convenient delivery. Moreover, traditional brick-and-mortar retailers, such as industry operators Office Depot Inc. and Staples Inc., have increasingly expanded their online presence and relied on e-commerce to grow their businesses.

 

Domestic Office Furniture Companies in the USA

Sales Turnover 

Steelcase

2.754

Herman Miller

2.039

Haworth

1.638

HNI Corp

1.53

La-Z-Boy Inc.

1.185

Knoll Inc.

1.044

Global Group

900

Heritage Homes

675

K

585

Kimball International Inc.

572

Teknion Corp

450

Lozier Corp

450

Flex steel Business

450

OFS Brands

278

Virco

180

AIS

135

Kewaunee

116

Jasper Group

113

CF Group

90

Bush Furniture

90

Trend way

90

American Seating

90

Izzy +

90

Group Lacasse

86

Tennsco

77

 

Biggest Office Furniture Companies in the USA

Revenue in Million   

Steelcase

2614,80

Herman Miller

1964,55

Haworth

1673,06

HNI Corp

1414,34

La-Z-Boy Inc.

1113,36

Knoll Inc.

888,27

Global Furniture Group

862,40

KI

560,56

Knoll Inc

888,27

Kimball International Inc.

577,81

Teknion Corp

431,20

Lozier Corp

 

Flex steel Business

404,27

OFS Brands

284,59

Virco

189,73

AIS

146,61

Kewaunee

119,44

Jasper Group

131,08

CF Group

86,24

Group Lacasse

86,24

Trend Way

86,24

Tennsco

73,30

MTS Seating

67,27

Inscape

64,68

May line

64,68

Nucraft

44,84

Artopex

43,12

Bestar

43,12

Foliot Furniture

43,12

Nemschoff Chairs

43,12

Imperial Woodworking

34,50

Indiana Furniture

34,50

Nightingale Corp

34,50

T.J. Hale

34,50

Watson Furniture

30,18

Spectrum Industries

27,60

Tuohy Furniture

27,60

Darran Furniture

25,87

Wisconsin Bench

23,28

Davis Furniture Industries

21,56

Halcon Corp

21,56

David Edward

17,25

Mod form

12,94

Neutral Posture

12,94

Worden Co.

12,94

Latest News in Office Furniture Market

Herman Miller Joins International WELL Building Institute. Herman Miller announced few days back about its joining the International WELL Building institute as a participant in the WELL portfolio program which enables organizations to enhance their spaces and improve human well-being across a global footprint. Herman Miller is the first furniture industry to register as a WELL portfolio participant. Building a heritage of human centered design, the company is excited to explore the WELL portfolio program. It will allow the company and the people to see through a broad range of facilities through a dedicated lens focused on well-being and to make decision that will measurably improve lives of the people in the organizations. The WELL portfolio program allows organizations to strengthen the building performance while improving human being at scale by applying the WELL Building Standard across multiple spaces in a streamlined approach. The main importance of the program is to have a positive outcome related to human health. WELL Portfolio is a program for companies at the leading-edge of the movement to improve global health. WELL portfolio is based on the concepts of air, water, light, nourishment and movement, thermal comfort, mind and sound. Herman Miller will leverage the evidence based design operations across well-defined portfolio of properties to support and enhance the full spectrum of wellbeing for its team, visitors and customers. Herman Miller has been committed to sustainable buildings since it helped found in the USA. The company has also earned recognition for its benefits programs focused on employee’s well-being including a partnership with the source, a free on site counseling resources for employees and their families which also provides courses on mental health first aid.

COVID-19 impact on "US Office Furniture Market"

The report analyzes and includes complete detailed chapter of 50-70 pages about the short term & long terms impact of COVID-19 outbreak on each segment of "US Office Furniture Market" along with government measures to support the sector. It also showcases the current market landscape during COVID, impact of the virus on leading companies, expected demand schedule and supply chain in the industry and other various major factors. This will help you identify those companies that may benefit from this pandemic as well as those that will lose out.

Key Market Players

The key players profiled in the report are :

Steelcase

Herman Miller

Haworth

HNI

La-Z-Boy

Knoll Inc.

Global Furniture Group

Kimball

KI

Teknion

Flex steel Furniture

OFS

Human scale

Virco

AIS

Jasper Group

 Exemplis

 Bush Furniture

 CF Group

 Group Lacasse

Trendway

 Tennsco

 MTS Seating

 Inscape

 May line

 Nucraft

 Artopex

 Bestar

 Foliot Furniture

 Nemschoff Chairs

 Imperial Woodworking

 Indiana Furniture

 Nightingale Corp

 T.J.Hale

 Watson Furniture

 Spectrum Furniture

 Tuohy Furniture

 Darran Furniture

 Wisconsin Bench

 Davis Furniture Industries

 Halcon Corp

 David Edward

 Mod form

 Neutral Posture

 Worden Co

 Xybix Systems

 High Point

 Jasper Chair

 Merric Chair

Covered in this US Office Furniture Market Report

  • The report includes Office Furniture Manufacturers, OEMs , Distributors & Brands Outlook (Market Competition & Regional Presence), Business Strategy & Financial Analysis of Major Players. Further, the study also covers the Industry Insights (Future Trends & Forecast Data), Online Retailing and End User Analysis (Sales from Different End Use Sectors).

  • Market Size (USD Billion), Market Share (%), CAGR (%), Y-O-Y Growth Rate (%) of United States Office Furniture Industry and further it bifurcated into States.

  • Sales Data of Office Furniture : By Each Product Type & Size, By End Users (B2B & B2C), By Brands, By Models, By Distribution Models, By Countries (Volume & Value), 2017-2030

  • Sales Outlook by Various Channels : By Channel Type (Stand-alone Stores, Flagship Stores, Brand Outlets, Multi-Brand Outlets, Specialty Outlets, Hypermarkets, Online Channels, etc.)

  • Manufacturing/Production of Office Furniture : By Manufacturers Type (OEMs, OBMs & ODMs), Production Data (By Machinery Type, By Countries), Manufacturing Capacity, Operational Margins, Distribution Analysis, etc.

  • Market Dynamics : Growth Drivers, Challenges, Opportunities, Trends, SWOT Analysis, PESTLE Analysis, Pricing Patterns

  • Trade Data (Export & Import) : By Each Product Type & By Demand, 2017-2030

  • Supply & Demand Analysis, 2017-2030

  • Target & Potential Markets, By Major Countries

  • US Smart Office Furniture Industry Outlook : Current & Future Outlook, 2017-2030

  • US Office Furniture Industry Analysis (Manufacturers, Brands, New Products, Product Mapping, Investments, Pricing Pattern, Business Models, Annual Spending, Sales Channels Outlook, etc.)

  • The study provides an in-depth analysis with current and future trends to elucidate the imminent investment pockets in the market.

  • Current and future trends are outlined to determine the overall attractiveness of the market and single out profitable trends to gain a stronger foothold in the market.

  • Quantitative analysis of the current market and forecast from 2017-2030 is provided to showcase the financial competency of the market.

  • Drivers and opportunities are evaluated to highlight the top factors responsible for market growth. Various segments are carefully evaluated to gauge the potential of the market.

  • Porter’s Five Forces Model and SWOT analysis of the industry illustrate the potency of the buyers & suppliers participating in the market.

  • Competitive Outlook of major players of the US market as well as local market to understand the current business scenario and to understand the complexity and investment related factors.

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United States Office Furniture Market Analysis by Product Type, By Material Used, by Consumer Segment, by Category and By Distribution Channel & COVID-19 impact with Forecast to 2030

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