Asia-Pacific is expected to showcase lucrative growth over the forecast period. Office furniture market in the Asia Pacific is expected to register significant growth, owing to the increasing number of the working population. Growth in the economy and improving work conditions are the major factor which is fuelling the demand for office furniture in the Asia Pacific region. Moreover, expansion of corporate offices in the region is expected to positively impact the growth of office furniture market in the Asia-Pacific region. The growth in the region is anticipated to be fostered by rising demand for office leasing and rise in the number of employments. Besides, expansion of multinational companies in Asia Pacific region the market is also expected to impel the growth of office furniture market in the Asia Pacific. China and India are the prominent market in the region.
Key Market Trends
China is One of the Leading Producers for Office Furniture
China is the leading office furniture manufacturer and exporter at a world level. With the development of China’s economic construction, many new-type companies have been established, and the demand for office furniture has grown rapidly. The demand for office furniture industry in China is growing year by year. China’s office furniture enterprises have first-class production equipment, and the quality of products is stable and reliable, and cost-effective. China is the major exporter and the main supplier of office furniture for the United States, Germany, France, the United Kingdom and Japan. Both domestic and foreign office furniture companies play an important part in China’s office furniture market. The office furniture market in China gradually built into an industrial-scale business through several decades of evolution. Yet the market still contains many issues, the market is improving. In the long term, due to the booming need, the office furniture market in China still has potential.
Seating Segment Occupies the Largest Market Share of Office Furniture
Office furniture under the seating segment are Office Chairs, Guest Chairs, Stools, Sofa and Others. Office seating segment is expected to occupy the top position in office furniture market. The demand for seating office furniture is increasing due to the rising number of office spaces and employees across the region. Further, the development and enhancement such as increased comfort has influenced the market growth of office furniture. Moreover, modular, and modern furniture’s are gaining popularity all over the world. This factor is driving the growth of the office seating furniture market.
The report covers major international players operating in the Asia-Pacific office furniture market. In terms of market share, some of the major players currently dominate the market. However, with technological advancement and product innovation, mid-size to smaller companies are increasing their market presence by securing new contracts and by tapping new markets.
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