Global Office Chair Market Research Report, 2023-28

Office chairs typically provide a higher level of comfort and flexibility for employees working in offices and industries. The design of a diverse range of multifunctional chairs by manufacturers is a critical factor in generating revenue in the office chair segment. Companies nowadays place a strong emphasis on the latest technological trends that can be incorporated into the design of office chairs for business professionals. Furthermore, rising business demand for furniture and commercial space is expected to drive demand for the global office chairs market. However, high shipping and transportation costs are expected to limit the office chairs market during the forecast period. The enormous infrastructural transformation that is taking place against the backdrop of economic improvement and industrialization in developing economies will continue to have an impact on the growth of the office chair market. The office chair market is likely to see opportunities in industrial buildings, which are critical assets in the real-estate industry because they offer investors a diverse range of growth and revenue generation opportunities. The increased momentum of the private sector has effectively rubbed off on the construction of office infrastructure and the renovation of MSMEs, which has prompted the implementation of office chairs. While new office buildings are being built in underdeveloped markets, renovation and alteration in commercial buildings has opened up new avenues for stakeholders in the office chair market in terms of modernization and sales. According to the research report, “Global Office Chair Market Research Report, 2023-28”, published by Actual Market Research the market is anticipated to reach USD 21.77 Billion by the end of 2028 with a significant CAGR of 5.59% from USD 15.81 Billion in 2022. The growing demand for ergonomic chairs for homes and offices is propelling the office chair industry forward. The chairs' design, which allows users to sit comfortably for longer periods of time, can be attributed to the sudden increase in demand. This boosts productivity. Because most workers spend their days sitting, health issues and backaches are more common. As a result of their awareness of the problem and desire to reduce the occurrence of such issues, organisations are gradually embracing and providing better seating options for their employees. Chair manufacturers are increasingly collaborating with MNCs in order to reach a larger market. Furthermore, sales of office chairs and ergonomic chairs are expected to boost as people purchase them for personal study areas and as adoption in institutions grow as a result of the rapidly expanding e-commerce industry and global internet penetration. The global office chair market is divided into several product categories, including executive office chairs, conference chairs, ergonomic chairs, and other types of chairs. The ergonomic chair market category will be dominant in 2022, with a market share of approximately 78%. The rising number of occupational injuries and employee concerns about their well-being are driving the growth of this market. Material categories used to segment the office chair market include mesh, leather, fabric, plastic, and others. Mesh office chairs are expected to dominate the market in 2022, with a market share of 36%, because they provide working professionals with more sitting comfort throughout their extended workdays at the workplace than other office chair options. Mesh chairs are also less skin-friendly than other fabrics, lowering the risk of skin irritation. Furthermore, the leather category is expected to grow significantly with a CAGR of 6.42% over the projection period as demand for leather office chairs rises due to the high-end appearance and feel that leather office chairs provide. Leather is stain-resistant and easier to clean than other textiles. Because of the high quality, comfort, usability, and durability provided by leather office chairs, the industry is expanding. Based on the distribution channels used, the global office chair market is divided into online and physical stores. The offline sector controlled 69.91% of the market in 2022 because it was convenient, affordable, and so on. The online segment is expected to grow at a significant rate of 7.48% during the forecast period. E-commerce, which also offers door-to-door delivery, facilitates cashless and no-contact purchases. The business firms are open on a regular basis and have a variety of tasks to complete. E-commerce platforms make it easier to buy office chairs by providing shopping websites and applications with a variety of offers and brands. The market is divided into five regions: North America, Europe, Asia Pacific, South America, and the Middle East and Africa. Due to the increased number of business offices as a result of organisations' rapid expansion, Asia Pacific, which had a sizable market share of around 35% in 2022, is expected to dominate the industry during the Forecast period. The Asia Pacific region is experiencing rapid economic growth, which is leading to increased demand for office furniture, including office chairs. Furthermore, the region is also experiencing rapid urbanization, with more people moving into cities and working in offices, which is driving demand for office chairs. North America is expected to be the second largest market. Regional manufacturers offer innovative chairs, and brands invest in developing technology that allows chairs to be adjusted to different body types. The North American office space market is expanding, fueled by the region's growing number of startups and small businesses. Many consumers are becoming more environmentally conscious and are looking for office chairs made from eco-friendly materials such as recycled materials, sustainable wood, and organic fabrics. This trend is driving the development of eco-friendly office chairs and is expected to continue in the coming years. Furthermore, office chairs are becoming more technologically advanced, with features such as adjustable lumbar support, heating and cooling systems, and built-in massagers. These features are designed to enhance comfort and support for users and are becoming increasingly popular in the market. Moreover, many consumers are becoming more environmentally conscious and are looking for office chairs made from eco-friendly materials such as recycled materials, sustainable wood, and organic fabrics. This trend is driving the development of eco-friendly office chairs and is expected to continue in the coming years. Restraints: The production of office chairs can have a significant environmental impact, and manufacturers may need to comply with various environmental regulations and standards. Compliance with these regulations can increase the cost of production and limit the availability of certain materials, which can affect the supply and pricing of office chairs. Furthermore, economic downturns and recessions can have a significant impact on the demand for office chairs, as companies may reduce their spending on office furniture and equipment to cut costs. This can lead to a decrease in the sales and revenue of office chair manufacturers. Recent Developments: • In December 2021, Design Public Group, a digital company with technologies that would aid in accelerating firms' digital footprints, was acquired by HNI Corporation. This platform is anticipated to enable businesses' various digital and e-commerce operations to connect with a wide spectrum of market consumers. • In November 2021, Herman Miller, the leader of innovative design and furnishing solutions, announced a new seating collection with designer Michael Anastassiades—Comma. Covid-19 Impact: Covid-19 had a negative impact on the office chair industry since people were confined to their homes and governments imposed a total lockdown. The entire supply chain was also impacted by the outbreak. Due to a lack of competent workers and raw supplies, many industrial facilities have closed, which has a detrimental effect on the market. The in-store sales of office chairs were further impacted by the closure of furniture showrooms. Nonetheless, the demand for ergonomically built chairs is anticipated to increase as the economy improves and people return to the workplace. Businesses are likely to spend money on chairs with ergonomic designs to increase worker comfort and productivity. Companies Mentioned in this report: TOPSTAR GMBH, Kimball International Inc., Bristol Technologies Sdn Bhd. , Tecknion, Haworth Inc., HNI Corp., OKAMURA CORPORATION, UE Furniture Co., Ltd., PSI Seating Ltd, Steelcase Inc. Considered in this report • Geography: Global • Historic year: 2017 • Base year: 2022 • Estimated year: 2023 • Forecast year: 2028 Aspects covered in this report • Global Office Chair market with its value and forecast along with its segments • Region-wise Office Chair market analysis • Various drivers and challenges • On-going trends and developments • Top profiled companies • Strategic recommendation Regions • North America • Europe • Asia-Pacific • South America • Middle-East & Africa By Product Type: • Ergonomic Chairs • Executive Office Chairs • Conference Chairs • Others (Computer Chairs, Kneel Chairs, Petite Chairs, Reception Area Chairs, Tablet Arm Chairs, Armless Chairs ) By Material Type: • Mesh • Leather • Fabric • Plastic • Others (Vinyl, PU Leather/ Flux, Rexin) By Distribution Chanel: • Offline • Online The approach of the report: This report consists of a combined approach of primary as well as secondary research. Initially, secondary research was used to get an understanding of the market and listing out the companies that are present in the market. The secondary research consists of third party sources such as press releases, annual report of companies, analysing the government generated reports and databases. After gathering the data from secondary sources primary research was conducted by making telephonic interviews with the leading players about how the market is functioning and then conducted trade calls with dealers and distributors of the market. Post this we have started doing primary calls to consumers by equally segmenting consumers in regional aspects, tier aspects, age group, and gender. Once we have primary data with us we have started verifying the details obtained from secondary sources. Intended audience This report can be useful to industry consultants, manufacturers, suppliers, associations & organizations related to Office Chair industry, government bodies and other stakeholders to align their market-centric strategies. In addition to marketing & presentations, it will also increase competitive knowledge about the industry.