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Office Furniture
Market, Supplier, Risk and
Competitive Intelligence

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Manage Office Furniture Category with Ai powered
Procurement Productivity Suite

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Abi will answer all Office Furniture related
procurement queries with relevant data points

Abi - AI powered digital procurement assistant

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Get up-to-date market and supplier info on Office Furniture to help you build

Intelligence covers market and price outlook, SWOT analysis, demand & supply drivers, engagement models and Procurement best practices

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Intelligence on category covers the following aspects market outlook, supply market, SWOT analysis, Cost components & Price outlook, Demand and supply drivers, Engagement Models and Procurement Best Practices

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Assess Supplier Risk based on key risk and compliance parameters

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Supplier assessment covers the following parameters Financial Risk, Ethical, Labor, Environmental Compliance, IT Security.

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Supplier assessment is powered by world’s leading data partners including D&B, CreditSafe, Dow Jones, Refinitiv, Orpheus

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Identify right fit suppliers based on your selection criteria including revenue, capabilities, certification, geography

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Select suppliers based on industry, country, classification from a database of 4.2 mn suppliers. Get detailed supplier profiles with supplier capabilities, revenue, certifications, risk ratings

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Benchmark your category performance against peers and the market

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Measure category performance on 15 key parameters across cost, risk and strategy KPIs

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Get information on key factors affecting your supply

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Source Macro Data and Market Indices information from leading data sources across these key areas - Labor Rates, Currency, Energy, Country Risk, Trade Flow/Transportation, Port Data, Tariff, Weather and Epidemics

meet-abi-1

Abi will answer all Office Furniture related
procurement queries with relevant data points

Abi - AI powered digital procurement assistant

discover-market-info

Get up-to-date market and supplier info on Office Furniture to help you build

Intelligence covers market and price outlook, SWOT analysis, demand & supply drivers, engagement models and Procurement best practices

1

Intelligence on category covers the following aspects market outlook, supply market, SWOT analysis, Cost components & Price outlook, Demand and supply drivers, Engagement Models and Procurement Best Practices

manage-risk

Assess Supplier Risk based on key risk and compliance parameters

1

Supplier assessment covers the following parameters Financial Risk, Ethical, Labor, Environmental Compliance, IT Security.

2

Supplier assessment is powered by world’s leading data partners including D&B, CreditSafe, Dow Jones, Refinitiv, Orpheus

discover-supplier

Identify right fit suppliers based on your selection criteria including revenue, capabilities, certification, geography

1

Select suppliers based on industry, country, classification from a database of 4.2 mn suppliers. Get detailed supplier profiles with supplier capabilities, revenue, certifications, risk ratings

assess-category-perforamnce

Benchmark your category performance against peers and the market

1

Measure category performance on 15 key parameters across cost, risk and strategy KPIs

source-market-indices

Get information on key factors affecting your supply

1

Source Macro Data and Market Indices information from leading data sources across these key areas - Labor Rates, Currency, Energy, Country Risk, Trade Flow/Transportation, Port Data, Tariff, Weather and Epidemics

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Report Coverage

  • Regional Market Outlook( North America, Europe, MEA ,APAC, LATAM)
  • Factors Affecting Office Furniture market
  • Supply Trends and Insights
  • Global Supplier List and Service Capabilities

Market Size

Market Size North America

$17 Bn

Market Size Europe

$16 Bn

Market Size Asia Pacific

$23 Bn

Market Size Middle East - Asia

$7 Bn

Table of contents

  1. Office Furniture Executive Summary
  2. Global Office Furniture Industry: Industry Outlook

 

  1. Office Furniture Market Analysis
  2. Global Office Furniture Industry Market Maturity
  3. Global Office Furniture Industry Trends
  4. Global Office Furniture Drivers and Constraints
  5. Global Office Furniture: Key Insights
  6. Regional Market Outlook
  7. Industry Outlook: Office Furniture Affecting Factors
  8. Porter's Five Forces Analysis
  1. Market Monitoring Insights
  2. Cost Analysis and Expected Savings
  3. Cost Break - up: Should Cost Model
  4. Cost of Ownership: New vs. Old Furniture
  5. Pricing Analysis
  1. Office Furniture Procurement Best Practices
  2. Sourcing Models for Office Furniture Services
  3. Sourcing Models: Comparative Analysis
  4. Sourcing Models: Pros and Cons
  5. Cross - industry Sourcing Model Adoption
  6. Key Success Factors for Effective Contract Implementation
  7. Pricing Models: Comparative Analysis
  8. Contract and Engagement Models
  9. Regional Pricing Best Practices
  10. Key Services - based KPI: Office Furniture Procurement
  11. Engaging with Third - party Interior Designers/Architects

 

  1. Service Level Agreements
  2. Minimum Order Quantity and Buyback of Office Furniture
  3. After Sales Support

 

  1. Sustainability Initiatives
  2. Sustainability Initiatives and Certifications
  3. Sustainability Initiatives undertaken by Office furniture suppliers

 

  1. Supplier Analysis
  2. Global Supplier List and Service Capabilities
  3. Key Regional Suppliers: Service Portfolio
  4. Supplier Profiles & SWOT Analysis

 

  1. Impact of COVID-19
  2. Category Summary
  3. Sourcing Location Watch
  4. Supplier Watch

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Global Furniture Industry Outlook

  • In 2019, the global office furniture market was valued at $67 billion. By 2025, the market is forecasted to reach $81.9 billion at a CAGR of 3.41 percent
  • North America, Western Europe, and some parts of APAC, such as Australia, Japan, Hong Kong, Singapore, have a high market maturity.
  • Companies have halted their expansion plans which has reduced the demand for Office Furniture Market globally.

 Global Office Furniture Market Maturity

  • The global office furniture industry is a modestly fragmented industry led by a selective group of global suppliers, who contribute roughly 7–8 percent of the total market size for office furniture globally
  • Asia and Europe contribute to around 50–60 percent of the total market size for global office furniture

Global Office Furnitures Industry Trends 

  • Office furniture contributes up to 15 percent of the global furniture sales, wherein seating, panels, and storage contribute the majority of the overall office furniture sales.
  • Office furniture is a labor intensive industry and this industry is adopting increased automation and mechanization to increase efficiency and product standardization
  • The top players of office furniture make around 9-11 percent of the APAC market size and this market is highly unorganized in pockets across APAC
  • There is a high level of mergers occurring between global players of office furniture and the local level manufacturers and dealers, who act as the distribution channels for these global firms
  • There is a significant increase in demand for reuse/recycling of furniture and more focus on innovation to reduce environmental impact

Global Office Furnitures: Drivers and Constraints 

  • Manufacturing of office furniture is being outsourced to emerging markets like China and Indonesia owing to the rising costs of manufacturing
  • There is increased competition from regional/local players for office furniture and this has driven larger suppliers to provide value-added services like space planning, consulting and furniture solutions by providing architect and interior design services

Drivers

Rapid Urbanization

  • Increase in construction activities and rise of office spaces in major consumer markets like the US, Brazil, and India. The rapid expansion of Fortune 500 firms in APAC has also given rise to the creation of new office space

Recycled Products: 

  • In the developed markets, such as the US, there is an increased demand for customized and made-to-order furniture from recycled materials

Demand for Office Aesthetics: 

  • Large buyers require innovative or elegant design aesthetics for their office facilities. This leads to procurement of new office furniture that suits the aesthetic dynamics of the facility
  • Refurbishment of office space or purchase of new office space drives large buyers to adapt fresh design themes, which may be aimed at increasing the productivity of the employee workforce

 Constraints

Demand vs. Buyer Aspiration:

  • Although there might be an increase in demand for office furniture for large buyers, this demand may not be realized by the buyers, who may choose to cut costs owing to the pressure of cost optimization

Rise in Manufacturing Cost: 

  • The office furniture industry is labor intensive and is currently facing a labor shortage as well as fluctuations in costs of raw material like wood and energy

Dynamic User Preference

  • Buyers request variety and innovation in office furniture depending on the requirement and this makes it difficult for service providers to forecast and manufacture the product lines

Global Office Furniture: Key Insights 

Plant Closures and Workforce Reductions Due to Difficult Market Conditions

Difficult market conditions compelled top global and regional manufacturers like Steelcase, Ahrend, Haworth, König & Neurath to shut their production plants and reduce workforce as per their restructuring and modernizing plans.

Example: Steelcase shifted their manufacturing plant from Germany to Czech Republic, which is expected to generate cost savings of around $10 million a year from 2016.

Consulting and Advisory Services Getting Offered as Value-Added Services

Rising competition from local as well as new emerging players, downturn in economic scenarios, decrease in demand by the buyers for the furniture items have compelled manufacturers to offer value added services such as consulting, designing and furniture planning by hiring interior designers and architects

Mergers and Acquisitions to Expand and Gain Synergies

  • The office furniture companies are getting aligned with other players to gain from synergies and strengthen their supply chain by getting add-on capability in terms of geographical presence, technology and innovation. With the availability of bank credit, strategic acquisitions have become easier and a notable trend in the industry

Example:

  • Global OEM player Herman Miller acquired Maharam Fabric Corp., a family owned company, as part of its strategic planning

Production Capability Expansion by Suppliers

Office furniture, being a labor intensive industry, is increasingly moving towards mechanization and automation to bring efficiency, standardization, production of the required design and quantity of the product

Sustainability Requirements Followed and Advertised by Suppliers

  • There is new standard, BS ISO 24496:2017 office furniture, assessing office seating in Europe. Unlike Europe Standards (EN), this standard is, however, not implemented in all European countries
  • Most of the global brands and regional players follow minimum LEED and ANSIBIFMA standards
  • With buyers having environmental concerns and sustainability targets, manufacturers are using environment friendly materials modified bio-composite sheet made from renewable natural resources is used in the production of office furniture instead of using petrochemicals and advertising the environmental benefits through a number of certification programs

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