LONDON--(BUSINESS WIRE)--According to the latest market study released by Technavio, the school furniture market in North America is expected to grow at a CAGR of more than 12% during the forecast period.
This research report titled ‘School Furniture Market in North America 2017-2021’ provides an in-depth analysis of the market in terms of revenue and emerging market trends. This report also includes an up to date analysis and forecasts for various market segments and all geographical regions.
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The market research analysis categorizes the school furniture market in North America into three major product segments. They are:
- Seating
- Storage
- Lab equipment
School furniture market in North America by seating
In terms of revenue contribution, the seating segment had the largest share of the school furniture market in North America in 2016. This segment consists of ergonomic chairs, tables, benches, and other seating facilities that are used in schools. Students require adjustable chairs and desks to attend lectures presented by teachers through projectors and on interactive whiteboards (IWBs). Vendors, including School Specialty, are introducing new types of seating furniture such as detachable tables and treadmill desks. The demand for desktop tables with attached chair is likely to increase during the forecast period.
According to Jhansi Mary, a lead K12 and higher education expert from Technavio, “The furniture facilities used in the canteen and cafeterias are also evolving. As a result, schools are using contemporary chairs and tables to modernize these areas. Such shift will have a positive impact on the demand for seating options.”
School furniture market in North America by storage
The storage segment accounted for the second largest share of the school furniture market in North America, with close to 29% market share in 2016.
There has been a rise in demand for mobile storage facilities, which can be used anywhere as per the requirement. This helps schools in managing their school space while providing furniture facilities. For instance, furniture manufacturer Intermetal offers book display units, magazine book racks, tray units, and art storage units. Classroom storage options help students in storing their belongings that are needed for classes. The storage facilities are taken care of by the schools not only for students but also for administrative staff. Many schools have shown interests in improving their faculty rooms and other departments.
School furniture market in North America by lab equipment
The demand in this segment is growing rapidly as schools are inculcating variety of labs in their infrastructure. The furniture in science labs includes lab carts, instructor desks, lab workstations, mobile furniture, and lab equipment storage. Schools are setting up computer labs to incorporate technical knowledge among students.
“One of the prominent reasons for schools adopting and refurbishing their lab furniture is due to a greater emphasis on STEM education,” says Jhansi.
The top vendors highlighted by Technavio’s education market research analysts in this report are:
- Herman Miller
- HNI
- KI
- Steelcase
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Technavio is a leading global technology research and advisory company. The company develops over 2000 pieces of research every year, covering more than 500 technologies across 80 countries. Technavio has about 300 analysts globally who specialize in customized consulting and business research assignments across the latest leading edge technologies.
Technavio analysts employ primary as well as secondary research techniques to ascertain the size and vendor landscape in a range of markets. Analysts obtain information using a combination of bottom-up and top-down approaches, besides using in-house market modeling tools and proprietary databases. They corroborate this data with the data obtained from various market participants and stakeholders across the value chain, including vendors, service providers, distributors, re-sellers, and end-users.
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