The Australia Office Furniture Market has witnessed stable growth over the past few years owing to increasing number of startups and small enterprises. Office furniture includes items such as office desks and tables, seating, filing cabinets, partitions etc. These types of furniture are primarily used for commercial applications across corporate workspaces, government buildings and other offices. Rapid growth of small and medium scale businesses especially in technology and professional services has augmented the demand for desks, chairs, storage systems and other multipurpose 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. These companies offer a wide range of furniture including ergonomic chairs, computer desks, storage cabinets and more.
Key opportunities in the market include rising number of co-working and shared office spaces. As more startups and freelancers opt for flexible working solutions, the demand for multi-purpose furniture is on the rise. Another opportunity lies in the growing preference of companies to adopt activity based working which promotes mobility and collaboration across teams. This has increased sales of movable partition panels, writable tables and adjustable sit-stand desks.
The Australia Office Furniture Market is also witnessing expansion in overseas markets such as New Zealand, South East Asia and Middle East. Leading manufacturers are diversifying their product portfolios and focusing on these high growth regions to benefit from increased export opportunities.
Market Drivers
The increasing number of startups and small enterprises in Australia is a key driver propelling market growth. Nearly 70,000 new businesses are registered annually which spurs demand for office essentials. As these companies look to setup fully functional workspaces on tighter budgets, affordable furniture is in high demand.
Market Restrain
Preference of work-from-home models adopted during the pandemic is a major restrain challenging market growth. With flexible working gaining popularity, some employees have opted to use household furniture for office tasks which has lowered sales of customized office furniture. Similarly, economic uncertainties may deter companies from undertaking office refurbishments which could impact furniture replacement cycles.
Segment Analysis
The Australia Office Furniture Market is dominated by commercial office furniture segment. Commercial office furniture include desks, chairs, storage units, tables that are used in corporate and government offices. This segment accounted for nearly 65% of the total Australia Office Furniture Market in 2024 owing to increasing number of corporate offices and expansion of existing offices. Within commercial office furniture, desks and chairs are the largest sub-segments as they are basic requirement in every commercial office setup. Growing demand from multinational companies expanding their operations in Australia has been driving sales of commercial office furniture products over the past few years.
The other prominent segment is home office furniture which includes furniture used in home offices, study rooms. This segment has been witnessing significant growth in recent times on account of rise of remote working culture andneed for home office setup during Covid-19 pandemic. Young professionals and students prefer to set up a separate home office space which is boosting demand for home office furniture products such as desks, storage units, chairs etc. Innovation in design and multi-functional furniture are the key trends observed in this segment.
Global Analysis
The Australia Office Furniture Market is divided into five major regions including Southeast region, Northeast region, Central region, Southwest region and Northwest region. Southeast region, comprising states of New South Wales and Victoria, is the largest as well as the fastest growing region in the Australia office furniture industry. The region accounted for over 35% share of the Australia Office Furniture Market in 2024 owing to high concentration of corporate offices in cities of Sydney and Melbourne. Growing capital investments and presence of leading domestic and international players has been driving the office furniture sales in this region. The Northeast region, comprising states of Queensland and Australian Capital Territory, followed Southeast region in terms of market size and is emerging as another high growth region on back of expanding commercial real estate sector.
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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