LONDON--(BUSINESS WIRE)--The furniture market in North America is expected to post a CAGR of almost 5% during the period 2018-2022, according to the latest market research report by Technavio. Request a free sample report
Factors such as the growing economy and rising focus on aesthetics have increased the demand for luxury furniture from schools in North America. Also, several schools are adopting luxury and modular furniture to create a dynamic and collaborative classroom and learning spaces. The growing demand is encouraging vendors to adopt technologically advanced production practices to offer modern and luxury furniture with innovative designs. These products are sold at higher costs compared to traditional furniture. Vendors are also offering customization options in terms of color, theme, texture, and design. Therefore, the rising demand for luxury furniture is expected to drive the growth of the school furniture market during the forecast period.
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As per Technavio, the growing demand for eco-friendly furniture will have a positive impact on the market and contribute to its growth significantly over the forecast period. This research report also analyzes other important trends and market drivers that will affect market growth over 2018-2022.
School Furniture Market in North America: Growth in Demand for Eco-Friendly Furniture
Growing concerns over global warming and deforestation have created a strong demand for eco-friendly furniture among consumers. This is driving market vendors to adopt sustainable practices to offer refurbished and recycled furniture. Some vendors are sourcing wood waste from construction sites, industrial waste, and old wood to offer high-quality school furniture. In addition, various non-profit organizations across North America are setting guidelines to help furniture suppliers and manufacturers adopt eco-friendly practices in their operations. This trend will have a positive impact on the growth of the school furniture market in North America during the forecast period.
“Rising sales of school furniture through e-commerce platforms and increasing demand for international education will further boost market growth during the forecast period,” says a senior analyst at Technavio.
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School Furniture Market in North America: Segmentation Analysis
This market report segments the school furniture market in North America by product (seating, storage, lab equipment, and other furniture) and geography (US, Canada, and Mexico).
The US region led the market in 2017, followed by Canada and Mexico respectively. During the forecast period, the US region is expected to maintain its dominance over the market. This is due to the increase in the revamping activities in educational institutions in the country.
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Some of the key topics covered in the report include:
- Market ecosystem
- Market characteristics
- Market segmentation analysis
- Market definition
- Market size and forecast
Five Forces Analysis
- Geographic comparison
- Key leading countries
- Landscape disruption
- Competitive scenario
- Vendors covered
- Vendor classification
- Market positioning of vendors
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