Office Chair Market Growth Estimated to Record Highest 5.6% CAGR by 2028

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.

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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.

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: 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.

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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.