Office Furniture Manufacturing in the US - Industry Market Research Report

New office: Private nonresidential construction will support industry revenue growth

The Office Furniture Manufacturing industry has had mixed results, ultimately declining over the years leading up to 2023. The fundamental drivers of demand for office furniture, office rental vacancy and the value of private nonresidential construction have declined. This largely stems from the COVID-19 pandemic, which caused a spike in unemployment in 2020 and left a lasting trend of working from home. On top of that, basic, low-cost furniture items have endured competition from imports, while demand for export goods has declined. Industry revenue is set to decline at a CAGR of 3.4% to $28.8 billion, including a decline of 2.3% in 2023 alone. Operators in the Office Furniture Manufacturing industry manufacture a wide range of office furniture, including bookcases, cabinets, chairs, desks and filing cabinets. This industry also manufactures office and store fixtures, such as cafeteria countertops (except kitchen and bathroom), furniture parts and partitions. Furniture may be ordered predesigned or customized, and may be sold assembled or unassembled. This report covers the scope, size, disposition and growth of the industry including the key sensitivities and success factors. Also included are five year industry forecasts, growth rates and an analysis of the industry key players and their market shares.