by The Australia Office Furniture Market comprises a wide range of products including desks and desks, office chairs, storage cabinets, seating furniture, and other accessories. Office furniture provides functional and aesthetically-pleasing solutions for commercial workspaces. They enhance workplace ergonomics and ensure employee productivity and comfort. Rising number of startups and coworking spaces have boosted the demand for modern, modular, and tech-enabled office furniture in Australia.
Australia Office Furniture Market is estimated to be valued at US$ 1.14 Billion in 2024 and is expected to exhibit a CAGR of 2.4% over the forecast period 2024-2031.
Key Takeaways
Key players operating in the Australia office furniture are IKEA Pty Limited, Harvey Norman Holdings Limited, Living Edge (Aust) Pty Ltd, Fantastic Furniture, Amart Furniture Pty Limited and Among Others. IKEA is one of the leading retailers of affordable and trendy office furniture solutions in Australia. The growing number of startups, shared office spaces, and remote working culture have fueled the demand for ergonomic and high-quality office seating, storage units, and desks. Moreover, the increasing focus on workspace optimization and employee wellness has further augmented the sales of office furniture in recent years. More companies are expanding their presence across major cities like Sydney, Melbourne, Brisbane, and Perth to cater to the rising furniture needs of organizations of all sizes.
Growing demand in the market: The office furniture industry is witnessing significant growth owing to rising employment rate and growing number of small and medium enterprises in Australia. According to reports, startups raised over $3 billion in funding in 2021 showcasing immense growth opportunities. This has translated into increased spending on commercial interiors and office redesigning projects. Furthermore, rising health awareness has driven the implementation of flexible seating arrangements, tech-enabled desks, and other wellness-oriented furniture solutions at workplaces.
Global expansion of the market: Key Australian office furniture brands are expanding their global footprint by foraying into international markets like New Zealand, Southeast Asia, and parts of Europe. For instance, local player Humanscale recently launched its innovative sit-stand desks and ergonomic chairs in New Zealand and Singapore. Leading brands are also focusing on omni-channel distribution and online sales channels to further penetrate overseas markets. The industry is expected to see more strategic collaborations, mergers, and acquisitions going forward among Australian and global furniture players.
Market key trends: Sustainability is emerging as a key trend in the Australia office furniture industry. Companies are catering to growing demand for eco-friendly solutions by manufacturing desks, chairs, and storage units from recycled, FSC-certified, and recyclable materials. Moreover, automation is being integrated into production processes to enhance efficiencies. Major brands are also offering customized and personalized furniture options via 3D printing and 3D modeling tools to stand out in the competitive market.
Porter’s Analysis
Threat of new entrants: Limited risk as the market has grown to maturity which requires substantial investment and established distribution networks.
Bargaining power of buyers: Strong as buyers have multiple alternatives and bargaining power is high especially from large corporate customers.
Bargaining power of suppliers: Moderate as raw materials are available from a wide range of suppliers within Australia and globally.
Threat of new substitutes: Low threat as office furniture has no close substitutes and requirements are customized as per space and needs.
Competitive rivalry: High among existing players given the mature nature of the market.
Geographical Regions
The Australian office furniture market is currently concentrated in major cities like Sydney, Melbourne, Brisbane, Perth and Adelaide that constitute over 70% of the total market value. These cities have large corporate headquarters, businesses and public sector offices driving demand.
Victoria region of Australia housing Melbourne is projected to grow the fastest at over 3% annually during the forecast period on back of a thriving corporate sector, commercial real estate development activity and expansion plans of multinational companies based in Melbourne. The state government’s initiatives to promote entrepreneurship and startup culture will also aid growth of flexible workspace solutions.
What Are The Key Data Covered In This Australia Office Furniture Market Report?
:- Market CAGR throughout the predicted period
:- Comprehensive information on the aspects that will drive the Australia Office Furniture’s growth between 2024 and 2031.
:- Accurate calculation of the size of the Australia Office Furniture and its contribution to the market, with emphasis on the parent market
:- Realistic forecasts of future trends and changes in consumer behaviour
:- Australia Office Furniture Industry Growth in North America, APAC, Europe, South America, the Middle East, and Africa
:- A complete examination of the market’s competitive landscape, as well as extensive information on vendors
:- Detailed examination of the factors that will impede the expansion of Australia Office Furniture vendors
FAQ’s
Q.1 What are the main factors influencing the Australia Office Furniture?
Q.2 Which companies are the major sources in this industry?
Q.3 What are the market’s opportunities, risks, and general structure?
Q.4 Which of the top Australia Office Furniture companies compare in terms of sales, revenue, and prices?
Q.5 Which businesses serve as the Australia Office Furniture’s distributors, traders, and dealers?
Q.6 How are market types and applications and deals, revenue, and value explored?
Q.7 What does a business area’s assessment of agreements, income, and value implicate?
*Note:
1. Source: Coherent Market Insights, Public sources, Desk research
2. We have leveraged AI tools to mine information and compile it
About Author - Alice Mutum
Alice Mutum is a seasoned senior content editor at Coherent Market Insights, leveraging extensive expertise gained from her previous role as a content writer. With seven years in content development, Alice masterfully employs SEO best practices and cutting-edge digital marketing strategies to craft high-ranking, impactful content. As an editor, she meticulously ensures flawless grammar and punctuation, precise data accuracy, and perfect alignment with audience needs in every research report. Alice's dedication to excellence and her strategic approach to content make her an invaluable asset in the world of market insights. LinkedIn
