Development of multifunctional office chair is a key trend that has gained significant traction in the office chair market recently. Quick & easy to transport, multifunctional, and foldable attributes have been key focus areas of prominent stakeholders in the office chair market. This has further led the development of innovative yet affordable chair for commercial applications among manufacturers.
Current and future prospects of the office chair market are directly influenced by growth of the office furniture industry. 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. Increase in the number of commercial infrastructures has further created high demand for office furniture, thereby driving growth of the office chair market.
The office chair market is forecast to register an above-average 5.6% value CAGR between the period 2018 and 2028. Albeit nature of the office chair market continues to remain fragmented, collaborative efforts of office furniture manufacturers toward organizing the industry have gradually been reinforcing the overall supply chain. This has further offered customers in the office chair market with an enhanced exposure to a wide range of product variants.
With manufacturer adopting advanced technologies for production of innovative yet affordable office furniture, growth of the office chair market will remain steady in the forthcoming years. However, prospects of the office chair market will continue to observe the confines of pervasive market fragmentation and preeminence of domestic office chair manufacturers, along with the impact of shipping and transportation costs.
Office Chair Market: New Builds, Alterations and Refurbishments Apropos of Offices & Industrial Buildings Guiding Growth Trajectory
Growth of the office chair market will continue to be impacted by the massive infrastructural transformation that is underway against the backdrop of economic development and industrialization in emerging economies. Office chair market is likely to witness opportunities in industrial buildings, which are imperative assets in the real-estate industry as they offer investors with a wide range of growth and revenue generation opportunities.
Increased momentum of the private sector has significantly rubbed off on the office infrastructure construction & revamp of MSMEs, which has spurred adoption of office chair. While emerging markets demonstrate new office builds, renovation and alternation in commercial buildings has paved new avenues for stakeholders in the office chair market, in terms of innovation and sales. Adoption of internationalization in office infrastructure has driven the demand for advanced office chair, which caters the requirements of comfort and modern aesthetics.
Key players in the office chair market have introduced a wide range of product variants to fulfil needs of different workplaces that vary according to an organization’s capacity. Manufacturers focus on the development and design of requirement-specific office chairs, such as those for conference rooms, private cabins, and desks. Availability of office chairs in a wide variety of designs has favored their adoption in recent years, thereby fuelling growth of the office chair market.
Office Chair Market: High Shipping & Transportation Costs and Low Import Penetration Constraining Growth Prospects
Shipping and transportation costs have prevailed as a major concern among players in the office chair market, in terms of both forward and reverse logistics. Additional associated costs that include packaging, warehousing, collection, and reshipping, which adds to final cost of the product, has further been significantly impeding growth of the office chair market. Moreover, with growing preference for online purchases, which offers a buy-back approach to customers without charging them the transportation costs, has limited the revenue generation scope for office chair manufacturers. This has confined growth prospect of the office chair market.
With the office chair market being highly fragmented, few established manufacturers hold leading market shares. Import activities related to office chair have remained relatively low, as requirements of customers in emerging markets vary from those in developed regions. This has further inclined purchase preference of customers toward domestic manufacturers over international vendors, which has impacted the global supply chain of the office chair market.
Office Chair Market: Ecommerce Paving New Frontiers
The office chair market will continue to witness significant opportunities in the online sales platform, as the office furniture industry becomes more organized. In the light of growing consumer appetite for online purchase, smart office furniture manufacturers are selling their furniture through their own website or through popular retail websites such as eBay, Amazon, and more. This is likely to pave new frontiers for the office chair market.
In 2017, Amazon’s furniture sales reached US$ 4 billion, representing the popularity of an e-commerce platform for buying furniture through an online platform, and office chair sales were influenced significantly. As the office chair market is fragmented, domestic manufacturers are approaching online portals, which include Trendsutra Platform Service Private Limited (pepperfry.com) and Urban Ladder, to showcase their products, and bolster their sales.
Note: The insights mentioned here are of the respective analysts, and do not reflect the position of Fact.MR
A new report published by Fact.MR exerts an exhaustive study on the office chair market, which can be leveraged by the readers to sustain their competitiveness in the office chair market. Clients can benefit from the information provided in the report for enhancing their profit margins by attracting potential customer, on whom intelligence has been offered in detail.
The office chair market is foreseen by the report to record a steady 5.2% volume CAGR during the period of forecast (2018-2028). By delivering estimations on the competition intensity attractiveness related to office chair market, the report further enables the clients to better understand the competition and devise their business direction accordingly.
An office chair is a type of seating used in workplaces or office settings. It usually features a padded back, a padded seat, armrest, and casters, which enable the chair to roll and swivel. Apart from features such as height adjustment, an office chair can have additional features such as footrest, neck rest, adjustable arms, and back with a lumbar support. According to the intended purpose, office chair can be of multiple types such as conference chairs, ergonomic chairs, executive chairs, guest chairs and many more.
Office Chair Market: Intricate Assessment on Imperative Dynamics
The report on the office chair market propounds intricate assessment, along with accurate forecast, on the office chair market for the period between 2018 and 2028. An exhaustive coverage on lucrative regions for the office chair market has been engulfed by the report. This report is an authentic intelligence source regarding data on recent dynamics, ongoing industry trends, technological developments & advancements, and product innovations observed in the office chair market.
Growth of the office chair market is directly proportional to expansion of the office furniture industry. As private sectors are developing, the number of micro, small, and medium-sized enterprises (MSMEs) has increased dramatically. Support from the national governments as well as private investments is adding fuel to the growth of private sector.
Office chair is highly sought after in commercial infrastructures. Although the office furniture industry remains fragmented, its efforts towards organizing the industry have strengthened the global supply chain. With this, consumers are exposed to a wide range of office furniture to choose either from a retail store or through an online platform.
As manufacturers adopt technological developments to introduce innovative and affordable furniture in the market, the office chair market will continue to grow steadily in foreseeable future. However, transportation and shipping costs add complexities for manufacturers. In addition, as fragmentation prevails and domestic manufacturers dominate, low import opportunities hamper the growth of the office chair market
Office Chair Market: In-Depth Study on Market Segments
Weighted chapters on the segmentation analysis in the report offer in-depth study and insights on all the market segments incorporated. The office chair market has been categorized into 5 segments, namely, price range, feature type, product type, distribution channel, and region. Geographically, the office chair market has been branched into Latin America, Japan, Middle East & Africa (MEA), Europe, Asia-Pacific excluding Japan (APEJ), and North America.
Precise market forecasts and estimations have been offered on all the aforementioned segments, along with a detailed assessment on key dynamics affecting their momentum during the period of forecast. These chapters are imperative for the report readers as they can better understand latent opportunities and key remunerative regions for growth of their business in the office chair market. Key market segments elucidated in the report are systematically illustrated with the help of a taxonomy table.
Office Chair Market: Competitor Landscape Study
The report incorporates a weighted chapter on competition landscape of the office chair market, which quantifies revenue share of prominent stakeholders in the office chair market. This concluding chapter of the report provides assessment on the key companies underpinning growth of the office chair market, along with insights on these market players in detail. The report further offers an elaborated analysis on the market players elucidated in the report, which includes intelligence with regard to their company overview, recent & impending developments, key financials, and product overview.
A SWOT analysis is delivered on the market participants profiled, which illuminates the strengths, weaknesses, opportunities and threats to these players in the office chair market over the upcoming years. Additionally, the report renders intelligence on the expansion strategies employed by the office chair market participants, such as new product developments, mergers & acquisitions, collaborations, and partnerships between them. The scope of the report is to deliver its readers with authentic knowledge as well as accurate insights on the office chair market. This will further enable the report readers to make better impactful plans and fact-based decisions for the businesses.
A robust research approach has been adhered by the analysts at Fact.MR for contemplating key industry dynamics, which in turn has enabled offering a precise and an authentic market intelligence. Intrinsic amalgamation of primary as well as secondary research has been used by the analysts for reaching at the estimates and forecast on the office chair market.
All the market estimations and forecast delivered have been verified via an exhaustive primary research, which involves comprehensive interviews with prominent market participants and leading industry experts. These brief primary interviews aid validation of the information procured, which in turn facilitates evaluation of the industry estimations, and insights.
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