by The Australia Office Furniture Market comprises office chairs, tables, filing cabinets, bookshelves and storage units, dry erase boards, desk lamps, wastepaper baskets, and other accessories. Furniture improves the aesthetics and organization of a workspace while also enhancing comfort and ergonomics. Investments in office furniture maximize employee productivity by alleviating neck, back, and posture issues over extended periods of work. Growing startup culture and growth in corporate offices are generating demand for modern and practical office furniture solutions in Australia.
Australia office furniture industry is estimated to involve manufacturing sales of over US$ 1.14 billion in 2024 and exhibit a moderate CAGR of 2.4% during the forecast period of 2024-2031.
Key Takeaways
Key players operating in the Australia Office Furniture Market include IKEA Pty Limited, Harvey Norman Holdings Limited, Living Edge (Aust) Pty Ltd, Fantastic Furniture, Amart Furniture Pty Limited and Among Others. IKEA is a prominent player focussed on affordable home and office furnishing solutions.
The market provides opportunities for manufacturers targeting smaller startups and co-working spaces with flexible, modular, and space-saving furniture. Growth in remote working culture has also increased demand for home office setups.
Major global furniture brands are expanding their presence in Australia to cater to rising demand. Ikea plans to open its largest store in Macquarie Park, New South Wales by 2025. Global players see potential to leverage Australia’s position as a hub for trade with other Asia-Pacific nations.
Market Drivers
The increasing number of startups and corporate offices in Australia’s major cities is a key driver for the office furniture market. According to StartupAus, Australia saw a 30% increase in the number of startups between 2018 to 2020. As more Australians embrace self-employment and flexible work arrangements, the need for proper home office setups is also growing. Comfortable and ergonomic furniture allows people to work productively from any location.
PEST Analysis
Political: The regulatory landscape concerning the import and export of office furniture is stable with no major changes expected over the forecast period. There are no trade restrictions or tariffs that significantly impact the market.
Economic: Australia’s economy has been performing well with low unemployment rate and inflation close to the target range. A growing economy positively influences the demand for office furniture from both commercial and residential sectors.
Social: Younger workforce prefers modern and ergonomic office furniture that enables flexibility. Demand is rising for adjustable desks and chairs that provide comfort during long working hours spent in offices.
Technological: Most established players are investing in Research & Development to develop innovative and sustainable furniture using new materials. Companies are incorporating technology like touchscreens and integrated connectivity in furniture to make offices smart.
Geographical Regions With High Market Concentration
The states of New South Wales and Victoria account for over 60% of the total market value due to high density of corporate offices located in cities like Sydney and Melbourne. The national capital Canberra also has significant share due to large government departments and agencies based in the city.
Fastest Growing Region
The state of Queensland is expected to witness strong double digit growth in demand for office furniture. This is attributed to steady economic and commercial expansion in cities like Brisbane, Gold Coast and Sunshine Coast leading to construction of new office space.
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
