The latest market report published by Credence Research, Inc. “Global North America Contract Furniture Market: Growth, Future Prospects, and Competitive Analysis, 2016 – 2028. The North American contract furniture market has witnessed steady growth in recent years and is expected to continue growing at a CAGR of 5.13% between 2023 and 2030. The market was valued at USD 31,886.22 million in 2022 and is expected to reach USD 48,224.07 million in 2030.
North America Contract Furniture Market Major Challenges are not to be taken lightly. One of the main challenges is the increasing demand for sustainable and eco-friendly furniture, as consumers become more aware of their environmental impact. This requires manufacturers to invest in new materials and production methods, which can be costly. Another challenge is the competition from overseas markets that offer cheaper products due to lower labor costs. To remain competitive, North American manufacturers need to focus on quality and innovation while keeping prices reasonable.
Market Segmentation:
The North American contract furniture market is segmented by type, end-user, distribution channel, and country.
Chair & tools type contract furniture is the most popular segment.
Corporate offices and hospitality & food services are the primary end-user segments.
Furniture marts and e-commerce websites are the commonly used distribution channels.
The United States is the leading country in market growth.
Market Drivers:
The adoption of ergonomic furniture in professional and personal office settings to ensure worker efficiency and comfort is driving the demand for contract furniture.
Increasing awareness of the advantages of maintaining good body posture and the use of contract furniture in offices contribute to market growth.
Market Challenges:
The high cost of contract furniture can impact consumer spending and pose a challenge for the market.
Growth Opportunities:
The United States presents significant growth potential in the contract furniture market, driven by the increasing adoption of contract furniture in corporate offices.
New distribution channels, such as furniture marts and e-commerce websites, provide further growth prospects for the industry.
Why to Buy This Report-
- The report provides a qualitative as well as quantitative analysis of the global North America Contract Furniture Market by segments, current trends, drivers, restraints, opportunities, challenges, and market dynamics with the historical period from 2016-2020, the base year- 2021, and the projection period 2022-2028.
- The report includes information on the competitive landscape, such as how the market’s top competitors operate at the global, regional, and country levels.
- In-depth analysis of the global market segmentation on the End-User and Type
- Major nations in each region with their import/export statistics
- The global North America Contract Furniture Market report also includes the analysis of the market at a global, regional, and country-level along with key market trends, major players analysis, market growth strategies, and key application areas.
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