Office Chair Market: North America Prevails at Vanguard; Europe to Record Moderate Rise
With notable growth of the private sector, there has been a proliferation of micro, small & medium-sized enterprises (MSMEs), underpinned by immense support from national governments and private investments.
[UKPRwire, Thu Sep 13 2018] Office chair market prospects are likely to be significantly influenced by surging number of startups. Influx of entrepreneurs in developed and emerging markets has created the requirement for tech parks as well as office spaces, which in turn has favored growth of the office chair market in recent years. In terms of value, the office chair market size was estimated at nearly US$ 7330 Mn in 2017 by a recently developed Fact.MR study.
North America continues to be the tip of the spear in the office chair market, with the report estimating over 50,000,000 units of office chair to be sold in the region by 2028-end. The office chair market in North America remains consolidated in the U.S., underpinned by increased focus on the work-space aesthetics and emergence of online furniture stores. Office chair manufacturers in the U.S. leverage the online sales platforms, in light of their inherent benefits such as reduced rental space and remarkable decline in inventory.
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Bucking a long-running depression in the revenue graph, growth of the office chair market in Canada is envisaged to rise at an impressive rate through 2028. Growth in Canada is primarily driven by production of business-oriented office chairs, as well as variants specific for use in retail and office spaces. Although declining oil prices have shaken the business confidence in natural resources-heavy economy of Canada, spending on nonresidential construction, and therefore new retail and office spaces has spurred demand for relevant furniture. On account of these factors, Canada’s office chair market will represent a splendid rise in the period of forecast.
Office Chair Market: Modest Growth Foretold for Europe
Led by the U.K. and Germany, the office chair market in Europe is likely to present an average growth rate through 2028, post-thriving through declined growth in the past. As office distribution in the region is witnessing a progressive transformation from supply of furniture to more worldwide offer of services, projects and consultancy.
Widespread majority of survey respondents have declared intention of extending their product and offer portfolios, which in turn will augur well for the office chair market in the region. Workspace transformation activities apropos of cafeteria/leisure areas and informal meeting spaces have further contributed to office furniture sales in the region, directly impacting the office chair market.
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Office Chair Market: Preference to Remain Inclined toward Fabric and Leather-based Chairs
Sensing the evolving requirements and preferences of end-users, office chair manufacturers have introduced a wide range of products using different materials. Fabric office chair and leather office chair will remain preferred over other variants in the office chair market. Albeit revenues from plastic office chair sales have traditionally been low, the report foresees a relative higher growth rate for these variants in the near future.
Organizations across the globe have been emphasizing on incorporating office chairs featuring more than just radical requirements, to provide a comfortable yet productive work atmosphere to employees. However, cost is a key aspect considered along with advanced features of the office chair, which has led the adoption of moderate price office chair, as low price office chair have no additional features. Revenues from moderate price office chairs exceeded US$ 6,900 Mn in 2017, and are envisaged to record an impressive increase in the foreseeable future, according to Fact.MR’s study.
With discomfort in the back, neck and shoulders, hands and wrists becoming common concerns among the desk-bound working population, awareness regarding the importance of office chair for maintaining good posture & health is spreading gradually.
Various safety and health measures suggested by OSHA and UEOHC for a proper workstation setup and work practices have influenced changes in design and development approaches of office chair manufacturers. This has further driven emphasis on ergonomic approach at workstations by major employers, creating lucrative avenues for players in the office chair market.
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