The ‘Global School Furniture MarketSize, Share, Price, Outlook, Report and Forecast 2023-2028’ by Expert Market Research gives an extensive outlook of the global school furniture market, assessing the market on the basis of its segments like product, material, and major regions.
School Furniture Market Size, Share, Trends, Industry Report, Key Player, Major Segments, and Forecast
The key highlights of the report include:
Market Overview (2018-2028)
Forecast CAGR (2023-2028): 7%
Report Attribute
Details
Historical Period
2018-2022
Forecast Period
2023-2028
Base Year
2022
Market Size in 2020
USD 4.5 billion
Revenue Forecast in 2026
USD 6.8 billion
Growth Rate CAGR
7%
Major Players
Herman Miller Inc., Steelcase Inc., Knoll Inc., Smith System Mfg. Co, Scholar Craft Products and many others.
The global school furniture market is expected to register growth during the forecast period on account of the growing education industry. The surging focus on educational infrastructure in urban and rural areas worldwide along with mandatory basic education schemes initiated by various governments are likely to enhance the market growth of school furniture over the coming years. The increasing demand for flexible furniture for open space configurations and furniture that can accommodate increasing posture problems among children is expected to support the market demand for school furniture globally.
With an increase in urbanisation, the school furniture market is expected to witness growth across the globe as there is a rising preference for modern furniture to generate a constructive learning environment among children. The surging construction of schools and expanding infrastructure, especially in emerging economies, is anticipated to fuel market growth over the upcoming years. The surging popularity of ergonomic furniture for relaxed seating has encouraged the flexible school furniture demand and is likely to propel the market growth.
School Furniture Industry Definition and Major Segments
School furniture refers to furniture pieces that are designed for use in schools and educational environments. Based on the ages of the children using the furniture, the sizes of furniture may vary. High-quality and child-friendly school furniture has been found to help children learn, improve their comfort, and support good posture, preventing long-term back pain and other health issues.
Geographically, the North America region is projected to witness significant growth in the school furniture market share over the forecast period on account of the strong presence of key market players in the region such as Herman Miller Inc., Steelcase Inc., and Knoll Inc., among others. The growing economy along with the increasing focus on aesthetics is driving the demand for luxury furniture from schools in the region. The increasing in production of technologically advanced as well as innovative school furniture across North America is replacing traditional school furniture which is likely to aid the market growth of school furniture in coming years.
Meanwhile, the Asia Pacific region is anticipated to gain momentum over the coming years in the school furniture market growth on account of the growing focus on education in the region. The increase in number of children going to schools is further fuelling the education rate in the region and is likely to drive market growth across the Asia Pacific.
The rapid urbanisation in the Asia Pacific along with the growing culture of private education in various countries such as India due to the improved education quality and facilities are further expected to boost the market growth of school furniture in the region. The growing number of private schools in countries like China and the high demand for school furniture and expanding school infrastructure are expected to drive market growth in the Asia Pacific region.
Key Market Players
The major players in the global school furniture market report are Herman Miller Inc., Steelcase Inc., Knoll Inc., Smith System Mfg. Co, and Scholar Craft Products, among others. The report covers the market shares, capacities, plant turnarounds, expansions, investments, and mergers and acquisitions, among other latest developments of these market players.
The report studies the latest updates in the market, along with their impact across the market. It also analysis the market demand, together with its price and demand indicators. The report also tracks the market on the bases of SWOT and Porter’s Five Forces Models.
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