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School Furniture Market Size Worth $6.2 Billion By 2025 | CAGR: 6.0% : Grand View Research, Inc

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School Furniture Market Size Worth $6.2 Billion By 2025 | CAGR: 6.0% : Grand View Research, Inc

February 18
13:00 2020
School Furniture Market Size Worth $6.2 Billion By 2025 | CAGR: 6.0% : Grand View Research, Inc

Grand View Research, Inc. – Market Research And Consulting.
According to a new report by Grand View Research, Inc., The global school furniture market size was valued at USD 4.2 billion in 2018.Increasing focus on the educational sector across rural and urban areas and compulsory basic education schemes provided by governments around the world are affecting the growth of the market.

The global school furniture market size is anticipated to reach USD 6.2 billion by 2025, according to a new report by Grand View Research, Inc., expanding at a CAGR of 6.0% over the forecast period. Increasing focus on the educational sector across rural and urban areas and compulsory basic education schemes provided by governments around the world are affecting the growth of the market. Furthermore, increasing construction of schools in developing regions has contributed to market growth. According to ISC Research, a prominent supplier of international school data, there were just under 10,300 English-medium international schools across the globe in January 2019, with 5.6 million students enrolled.

Growing trend of ergonomic chairs for comfortable seating has promoted the demand for flexible classroom furniture. Demand for multi-functional tables and chairs that can be used in classrooms, labs, and libraries, among others is also on the rise. Introduction of various raw materials for production of furniture that is more stable, durable, and sustainable has played a key role in market growth. For instance, manufacturers have been making tables, chairs, and benches with materials such as molded plastic, processed or engineered wood, and high-pressure laminate. Demand for space-saving furniture with storage options in classrooms has witnessed considerable rise. For instance, CBT Supply Dba Smartdesks creates smart chairs and tables with stackable options and multi-functional applications for classrooms and offices.

Top players operating in the school furniture market include Fleetwood Group; Scholar Craft; VS America, Inc.; Smith System Mfg. Co; Knoll, Inc.; Haworth Inc.; VITRA INTERNATIONAL AG.; Virco; Office Line; and MOBeduc.

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In terms of product, the seating category dominated the market with a share of 51.3% in 2018. This can be attributed to features such as wider application than other pieces of furniture, high durability, and the ability to add mobility and functionality. In addition, growing demand for chairs and tables on castors, which helps to easily rearrange furniture, has fueled segment growth. By application, classrooms accounted for the largest revenue share of 79.9% in 2018. Increasing student enrolment in schools across the globe has upped the need for chairs and tables in classrooms. Introduction of swivel chair designs with ergonomic features has been a recent addition in many schools, looking to replace traditional chairs.

Further key findings from the report suggest:

  • By product, the seating segment dominated the market with a share of 51.3% in 2018. This can be attributed to features such as wide application, high durability, and the ability to add mobility and functionality
  • By application, classrooms accounted for the largest revenue share of 79.9% in 2018. Increasing student enrolment in schools across the globe has upped product demand
  • Asia Pacific is expected to register the fastest growth in the market, exhibiting a CAGR of 7.1% from 2019 to 2025. Rising culture of private school education in developing countries is a key factor driving the regional market

 

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Asia Pacific is expected to register the fastest growth in the market, exhibiting a CAGR of 7.1% from 2019 to 2025. Rising culture of private education in developing countries, owing to better quality of education and facilities as well as focus on numerous extracurricular activities, is fueled by growing disposable income and improving lifestyle. This is projected to have a positive impact on the demand for classroom furniture. For instance, private schools in China accounted for more than 35.0% of total schools in the country, reaching a total of 183,500 schools in 2018.

Growing construction of schools, especially in developing countries, has significantly contributed to market growth. According to ISC Research, a prominent supplier of international school data, there were roughly 10,300 English-medium international schools across the globe in January 2019, with 5.6 million students enrolled. A paper by RMIT University in Melbourne finds that the total number of students in higher education will increase from 216 million in 2016 to approximately 380 million by 2030. Student enrollment in emerging economies such as China, Saudi Arabia and India will continue to increase, making Asia Pacific and Middle East immensely lucrative markets for school furniture.

Access complete  School Furniture Report Portfolio By Grand View research, Inc.

By application, classrooms accounted for the largest revenue share of 79.9% in the school furniture market in 2018. Increasing innovation in raw materials for production of classroom furniture has resulted in greater attention toward collaborations, reconfigurations, and ergonomically derived furniture for classrooms. Increasing student enrolment in schools across the globe has upped the need for chairs and tables in classrooms.

Introduction of swivel chair designs with ergonomic features has been a recent addition in many schools, looking to replace traditional chairs. For instance, Steelcase Inc.’s Node chairs offer smart solutions in the classroom furniture arena. The Node school chairs are immensely mobile, allowing students to rearrange their seating depending upon lesson plans, thereby ensuring classes are more interactive and collaborative. The base of these chairs has space for storing personal belongings and the adjustable worksurface is ideal for students of all sizes and ages.

Grand View Research has segmented the global school furniture market by product, application,:

School Furniture Product Outlook (Revenue, USD Million, 2015 – 2025)

  • Seating Furniture
  • Storage Units
  • Lab Furniture
  • Others

School Furniture Application Outlook (Revenue, USD Million, 2015 – 2025)

  • Classroom
  • Library & Labs
  • Others

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The global market is highly competitive in nature. Top players operating in the market include Fleetwood Group; Scholar Craft; VS America, Inc.; Smith System Mfg. Co; Knoll, Inc.; Haworth Inc.; VITRA INTERNATIONAL AG.; Virco; Office Line; and MOBeduc. Companies are drawing resources through crowdfunding sites in order to explore the new aspects of this business, with increasing focus on flexible furniture. Crowdfunding site for school resources, DonorsChoose, noted an increase in funding for flexible furniture from 110 in 2015 to 21,163 in 2018. Social media has played a key role in spreading awareness about the benefits of flexible school furniture. According to an article on NBC News in June 2019, there are approximately 81,100 posts on Instagram with the hashtag #flexibleseating, with teachers and students posting tips and photos to spread the word.

About Grand View Research

Grand View Research, Inc. is a U.S. based market research and consulting company, registered in the State of California and headquartered in San Francisco. The company provides syndicated research reports, customized research reports, and consulting services. To help clients make informed business decisions, we offer market intelligence studies ensuring relevant and fact-based research across a range of industries, from technology to chemicals, materials and healthcare.

 

 

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