Educational Furniture Market Analysis, Trends, and Scope 2023 to 2030
Educational Furniture Market Report Scope
Report Attribute | Details |
---|---|
Market size in 2022 | US$ 7.78 Billion |
Market Size by 2030 | US$ 11.61 Billion |
Global CAGR (2022 - 2030) | 5.1% |
Historical Data | 2020-2021 |
Forecast period | 2023-2030 |
Segments Covered |
By Material
|
Regions and Countries Covered | North America
|
Market leaders and key company profiles |
COVID-19 Impact:
During the initial phase of the COVID-19 pandemic, the implementation of lockdown restrictions and shutdown of manufacturing units led to production shortfall, creating a demand and supply gap. The profitability of various small-scale and large-scale educational furniture manufacturers were hevily hampered. However, educational institutes and schools were working remotely through online classes, which surged the demand for furniture such as desks and chairs at home. Due to the remote working of schools and colleges and the increase in online coaching, there was an increase in the demand for educational furniture products owing to the increasing need for comfortable seating at home.
In 2021, various economies resumed operations as governments of various countries announced relaxation in the previously imposed restrictions, which boosted the global marketplace. Manufacturers were permitted to operate at full capacity, which helped them overcome the demand and supply gap and other repercussions. As numerous citizens of many countries were fully vaccinated by 2021, the educational furniture manufacturers focused on increasing their production to revive their businesses. This positively impacted the growth of the educational furniture market.
Competitive Landscape and Key Companies:
The top 10 companies operating in the global educational furniture market are AFC Furniture Solutions Pvt Ltd, Fleetwood Group Inc, Scholar Craft Products Inc, Smith Systems Manufacturing Co, Knoll Inc, Haworth Inc, Vitra International AG, Virco Manufacturing Corp, Office Line Srl, and Creaciones Falcon SLU. These players focus on developing innovative furniture with ergonomic designs to cater to the consumer demand.