Global Desk Chairs Market is Expected to Foresee Significant Growth During the Forecast Period. Asia-Pacific to Witness the Highest Growth
- Vikas Kumar
- December 24, 2021
- CONSUMER GOODS, NEWS
- Desk Chairs Market Growth, Desk Chairs Market news, Desk Chairs Market Share, Desk Chairs Market Size, Desk Chairs Market Trend
- 0 Comments
The global Desk Chairs market is expected to grow significantly by 2027 expanding at a reasonable CAGR of around 5% during the forecast period (2021-2027).
A rise in disposable income, rising commercial spaces coupled with the launch of new technology-enabled Desk Chairs by the player across the region is leading to the growth of the market. As per a study, the co-working space is expected to reach USD 13.03 billion by 2025 with a CAGR of 12% during 2021-2025. However, the COVID pandemic impacted the market of co-working space, and the co-working space witnessed a rise of 2.1% during 2020-2021. Moreover, the number of co-working spaces is projected to double during 2021-2024which is from 23,548 in 2021 to 41,975 in 2024.
For a detailed analysis of Desk Chairs browse through https://univdatos.com/get-a-free-sample-form-php/?product_id=12820
Moreover, a rising furniture production owing to the emerging demand from institutional and industrial sectors as well is pushing the market growth. The seven major industrial economies (which are, in order of furniture production, the United States, Italy, Germany, Japan, Canada, the United Kingdom, and France) together produce 47% in value of the world total. The furniture production of all developed countries combined covers 61% of the world’s total. Furniture production in emerging countries currently amounts to 39% of the world’s total value. There are three countries (China, Poland, and Vietnam) where production has increased rapidly thanks to recent investments in new plants especially designed and built for exports. World furniture trade involves 60 countries, which are the subject of this report and the World Furniture Indicators. The leading importers are the United States, Germany, France, the United Kingdom, and Canada. The major exporters are China, Italy, Germany, Poland, and the United States.
For a detailed analysis of the market drivers in Desk Chairs browse through https://univdatos.com/get-a-free-sample-form-php/?product_id=12820
The rising number of spine and back-related injuries among end0-users coupled with the offering of the latest technology-enabled Desk Chairs is adding pace to the growth of the market. As Per Centers for Disease Control and Prevention found that roughly 25% of adults sit for more than 8 hours a day. Back pain is one of the most common Trusted Source medical problems in the United States. About 1 in 4 adults in the country have at least 1 day of back pain in any 3 months.
During the COVID-19 pandemic, America’s biggest office furniture manufacturers Herman Miller and Steelcase got the rug pulled out from under them. Steelcase shares fell 69% from their 52-week high after the pandemic hit – and are still off 51%. Shares of Herman Miller fell over 71% and are still down over 50%. The demand for desk chairs witnessed a sharp rise owing to the rising work from home culture. However, the supply chain disruptions led to the shortage of products.
Based on the Type, the market is fragmented into Movable and Non-Movable. The movable segment grabbed the major market share and dominated the market. Moreover, the market of this segment would proliferate in the forthcoming years owing to the expanding commercial spaces coupled with the preference for movable furniture by the millennium due to work from home culture. Also, furthermore, the offering of foldable and moving furniture by players is leading to the growth of the market.
Based on the End-User, the market is fragmented into residential, commercial, and institutional. The commercial segment grabbed the leading market share and dominated the market. As per Statista, the estimated value of the global commercial real estate market was approximately 32.6 trillion U.S. dollars in 2020, up from 30.3 trillion U.S. dollars in 2019. Europe, Middle East, and Africa (EMEA) region had the largest market size and was valued at close to 10.3 trillion U.S. dollars, just slightly higher than the Asia Pacific and the North America region
For a detailed analysis of the Region in Desk Chairs browse through https://univdatos.com/report/desk-chairs-market/
Additionally, the report provides detailed initiatives that are being taken in the field of desk chairs. The market is classified into distinct regions including North America (the U.S, Canada, Rest of North America), Europe (Germany, France, Spain, Italy, United Kingdom and Rest of Europe), Asia-Pacific (China, Japan, Australia, India, South Korea, and the Rest of APAC), and Rest of World has been conducted. North America region dominated the market and grabbed major market share in 2020. However, the Asia Pacific region is expected to witness the highest CAGR during the forecast period on account of the rising office spaces, co-working spaces, and the rising disposable income of consumers.
Global Desk Chairs Market Segmentation
Market Insight, by Type
Market Insight, by End-User
Market Insight, by Distribution Channel
- Supermarkets & Hypermarkets
- Convenience Stores
Market Insight, by Region
- North America
- United States
- Rest of North America
- United Kingdom
- Rest of Europe
- South Korea
- Rest of Asia-Pacific
- Rest of World
Top Company Profiles
- Herman Miller Inc.
- Steelcase Inc.
- Haworth Inc.
- Okamura Corporation
- HNI Corporation
- La-Z-Boy Inc.
- Kimball International