The school furniture market size was valued at USD 4.25 billion in 2023 and is expected to be worth USD 4.49 billion in 2024. The market is projected to reach USD 7.35 billion by 2032, recording a CAGR of 6.36% during the forecast period.
School furniture play a crucial role in improving the comfort and convenience of students and professors and are an integral part of the educational infrastructure. The furniture comes in both single and double-seater desks, which have attached storage systems to help users keep books and other accessories.
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LIST OF KEY COMPANIES PROFILED IN THE REPORT:
- Virco Inc. (U.S.)
- VS America, Inc. (U.S.)
- Paragon Furniture (U.S.)
- Smith System (U.S.)
- Artcobell (U.S.)
- Fleetwood Furniture (U.S.)
- Global Furniture Group (U.S.)
- Aumke (Onmuse (suzhou) Office Furniture Co., Ltd) (China)
- Picano (India)
- Scholar Craft (U.S.)
- Inspaceschoolfurniture (India)
- Hertz Furniture (U.S.)
- Bonton Technomake (P) Ltd. (India)
- EDU Furnitures (India)
- Haskell Education (U.S.)
Segmentation:
Enhanced Comfort and Provision of Functional Space to Boost Demand for Seating Furniture
Based on product, the market has been divided into seating furniture, storage furniture, and others. The seating furniture segment is anticipated to hold the biggest market share as this type of furniture plays a crucial role in improving the overall comfort and convenience of students and professors. This will offer a functional space to conduct educational activities.
Longer Lifespan and Resistance Against Wear & Tear to Augment Sales of Wood-based Furniture
Based on material, the market has been segregated into wood, metal, plastic, and others. The wood segment is predicted to capture the largest school furniture market share as wooden furniture have a longer lifespan than other types of furniture and can offer high resistance against wear & tear.
Ability to Physically Inspect Products to Boost Customer Preference for Offline Distribution Channels
Based on distribution channel, the market has been segregated into offline and online channels. The offline segment might dominate the market during the forecast period as these distribution channels give customers the freedom to physically inspect the furniture before purchasing them, thereby helping them ensure its quality and comfort.
With respect to region, the market covers North America, Europe, Asia Pacific, South America, and the Middle East & Africa.
Report Coverage:
The report has conducted a detailed study of the market and highlighted several critical areas, such as leading distribution channels, products, and top market players. It has also focused on the latest market trends and the key industry developments. Apart from the aforementioned factors, the report has given information on many other factors that have helped the market grow.
Drivers and Restraints:
Rise in Government Spending On Education to Accelerate Product Adoption
Governments across the world are increasing investments in their educational sectors to enhance their functioning. These funds are being used to construct new schools that are equipped with advanced technologies and amenities. This factor will augment the need for additional school furniture, such as tables, desks, chairs, and storage products, thereby positively impacting the school furniture market growth.
However, limited access to distribution channels and transportation networks in rural areas can make the establishment of educational institutes quite challenging, which can ultimately hinder the market’s expansion.
Regional Insights:
Asia Pacific Led Global Market Growth Due to Heavy Investments in Education Industry
Asia Pacific captured the largest school furniture market share in 2023 as countries across the region are increasing their investments in the education sector to improve children’s access to educational institutes. This will help them enhance the overall literacy rate.
Europe will also display notable growth in the global market due to the implementation of various initiatives and programs to improve the region’s educational infrastructure.
Competitive Landscape:
Key Companies and Educational Institutes to Collaborate to Test New Product Designs
Several market players across the world are partnering with educational institutions to test their new product designs and gather data. This data can help them improve their product range accordingly. They are also integrating advanced technologies into their products to enhance their functioning and make them more versatile.
Notable Industry Development:
May 2022 – Steelcase Inc. entered an agreement to acquire HALCON, a Minnesota-based company which specializes in the design and production of precision-tailored wood furniture for workplaces. This move is expected to improve Steelcase’s existing range of wood products, thereby offering exceptional craftsmanship and design to designers, architects, and customers.
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