The Australia Office Furniture Market Is Driven By Rising Adoption Of Ergonomic Furniture

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The Australia Office Furniture Market has witnessed significant growth in the past few years owing to rising adoption of ergonomic furniture by organisations to improve employee productivity and reduce health issues such as backache, headache and neck pain. Ergonomic office furniture offer adjustable features that allow customisation of chairs, desks and other furniture as per the body type and posture of an individual. For example, ergonomic chairs have adjustable seat height, arm rests, lumbar support and tilt control tailored for long working hours in offices. Further, electric height-adjustable desks are gaining traction as they enable standing and sitting positions while working. Growing popularity of activity-based working among corporates is another factor propelling the demand for movable partitions, modular tables, storage units and other multi-functional furniture.

Australia Office Furniture Market is estimated to be valued at US$ 1.14 Bn 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 the leading player with widest range of affordable and sustainable furniture solutions.

Rising number of startups, growing working professional population and evolving work structures are fueling the demand for innovative and versatile office furniture. Various types of co-working spaces with customized furniture setups are gaining traction among freelancers and small enterprises.

Expanding e-commerce channels and online retail platforms are enabling wider access to office furniture across Tier-II and Tier-III cities in Australia. Domestic manufacturers are also exploring international markets for export opportunities of Australia made office furniture.

Market Drivers

The key driver for the Australia Office Furniture Market is rapid urbanization and commercial real estate boom. Various state governments are undertaking smart city projects and business hub developments which requires establishment of large office complexes and corporate parks. This is positively impacting the procurement of office furniture, partitions, lighting, seating and other interior infrastructure. Moreover, growth in B2B spending on workstations, storage and other assets is supporting the market growth.

Current Geopolitical Situation And Its Impact On Australia Office Furniture Market Growth:

The ongoing geopolitical tensions and conflicts around the world is impacting trade relations and global supply chains. The COVID pandemic disrupted production and shipping, while the Russia-Ukraine conflict is further exacerbating inflationary pressures worldwide. All these factors are adversely impacting the growth of the Australia office furniture market. Rising input costs due to high fuel and raw material prices are reducing the profit margins of furniture manufacturers in the country. Delays in shipments and shortage of raw materials is also hampering production capacities. Furthermore, economic uncertainties arising from these geopolitical issues are weakening the demand outlook from key end-use sectors in Australia that promote the consumption of office furniture. However, the government's stimulus packages to boost domestic demand and promote 'Made in Australia' initiatives could help offset some of the negative impact in the coming years. Manufacturers will need to focus on diversifying supply chains, local sourcing, and increasing exports to other regions to navigate the challenges posed by the unstable geopolitical environment.

Geographical Concentration Of Australia Office Furniture Market:

The Australia Office Furniture Market is highly concentrated in the urban regions of New South Wales, Victoria, and Queensland in terms of value sales. New South Wales accounts for the largest share of over 30% of the total market value due to the presence of metropolitan cities like Sydney and regional centers. Victoria, with Melbourne as the second largest city, is the second largest market with a share of over 25%. Queensland has a market share of around 20% led by the cities of Brisbane, Gold Coast and Sunshine Coast. The growing demand from expanding corporate hubs, public sector organizations and coworking spaces in the major cities and state capitals drive the sales in these regions.

Fastest Growing Region In The Australia Office Furniture Market:

Western Australia is projected to witness the fastest growth in the Australia Office Furniture Market over the forecast period. The state economy of Western Australia is rapidly diversifying with increasing investments flowing into industries like mining, tourism, education and technology. This is supporting strong growth of the professional services and corporate sectors. The rising number of new businesses, business expansions, and setting up of large co-working spaces in cities like Perth will drive strong demand for office furniture. Growing interstate migration is also adding to new resident incomes and spending potential in Western Australia. These favorable economic and demographic factors make Western Australia the fastest emerging region in the Australia office furniture industry.

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Author Bio:

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: www.linkedin.com/in/alice-mutum-3b247b137 )

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