Global Ergonomic Office Chairs Sales Revenue Increased To 10 Billion USD In 2017 From 7.6 Billion USD In 2013
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Currently, many companies in the world can produce ergonomic office chairs, mainly concentrating in North America and Asia. The main market players are Steelcase, Herman Miller, Haworth, HNI Group, Okamura Corporation, Kimball Office, etc. The sales revenue of ergonomic office chairs increased to 10 Billion USD in 2017 from 7.6 Billion USD in 2013, with an average growth rate of 5.6%.
In consumption market, the growth rate of global consumption is smooth relatively. North America, Asia and Europe are still the mainly consumption regions due to Rapidly developing economy and a high degree of urbanization.
The major raw material for office chairs is wood, leather, plastic, cloth, hardware, paint, adhesives and sealants, etc. On the global market, supply of raw materials is full. Fluctuations in the price of the upstream product will impact on the production cost of office chairs industry.
Favorable government policies and rising foreign direct investments have increased the number of MNCs in the Asia country and also boosted the entry of foreign players. This has led to a rise in the number of offices as well as the demand for office chairs worldwide. Also, the growing number of companies in the technology, media, telecom, retail, financial, and transport sectors in 2017 has increased the demand of office chairs. Therefore, the growing demand for office space will be favorable for the growth of the office chairs market.
We tend to believe this industry is a promising industry, and the consumption increasing degree will show a smooth growth curve. As global purchasing power continues to increase and global labor costs continue to rise, prices will rise steadily. Also, there will be fluctuation in gross margin.