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Global $6.4 Bn School Furniture Market Share, Size, Trends, Forecast and Analysis of Key players 2024
The global school furniture market has grown at a healthy rate over the recent years. Various factors such as the rising demand for better furniture in schools, adoption of portable furniture for flip classrooms and initiatives from several government organisations to support education are driving the market growth.
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School furniture plays an important role in forming a dynamic learning environment which is beneficial for the physical health of the students. It is generally manufactured from metal, wood or plastic which provide comfortability to the children and teachers. Modern methods incorporate varied styles of teaching which necessitates the use of adaptable furniture. For instance, the introduction of portable furniture in the recent years has helped in performing group activities and organizing classrooms to provide a functional educational environment. According to the latest report by IMARC Group, titled “School Furniture Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2019-2024”, estimates that the global school furniture market was worth US$ 4.3 Billion in 2018, registering a CAGR of 7.5% during the year 2011-2018. The report further anticipates the market value to reach around US$ 6.4 Billion by 2024, at a projected CAGR of 6.5% over the forecast period.
The key growth-inducing factor of the school furniture market is the constant demand for ergonomically designed furniture so as to prevent health problems in students and teachers, and to create a comfortable learning environment.
The introduction of interactive and dynamic teaching styles, such as flip classrooms and blended learning, has increased the demand for portable furniture with easy reconfiguration, in turn, stimulating the growth of the school furniture market across the globe.
The governments of various nations are taking initiatives to improve their literacy rate and encourage education. As a result of this, there has been a rise in the number of schools which has propelled the growth of the global school furniture market.
There are several factors that hamper the market growth. The transportation cost involved for transferring raw materials and finished goods to the required places is high. Apart from this, shortage of high-quality raw materials also deters the growth of the school furniture market.
Explore School Furniture Market Report with table of contents
Insights on Market Segmentation:
Breakup by Product
1. Desk and Chairs
3. Lab Equipment
On the basis of product type, desks and chairs represent the most popular type of school furniture, accounting for around a half of the total global market. Desks and chairs are followed by storage and lab equipment.
Breakup by Material
1. Wood Based
2. Metal Based
3. Plastic Based
Based on material, the market has been segregated into wood-based, metal-based and plastic-based school furniture. Currently, wood-based school furniture dominates the market, holding the majority of the market share. Wood has various beneficial properties such as durability, elegance, resilience and requires little maintenance. Apart from this, wood-based school furniture is environment friendly which makes it a sustainable alternative to plastic or metal.
Breakup by Region
1. North America
3. Asia Pacific
4. Middle East and Africa
5. Latin America
On the geographical front, North America enjoys the leading position in the global school furniture market owing to the increasing focus on the comfort and flexibility offered by furniture so as to boost the learning experience for the students. North America is followed by Europe, Asia Pacific, Middle East and Africa, and Latin America.
The global school furniture market is fragmented as the industry consists of a large number of large and small players, both at the global and regional levels. Some of the leading players operating in the market are:
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