The Australia office furniture market comprises products including office tables, office chairs, desks, filing cabinets, and safety lockers primarily used in commercial offices, government organizations and educational institutions. Office furniture provides essential equipment for conducting office work efficiently and offers advantages such as ergonomic designs for preventing musculoskeletal disorders, durable construction, and flexible workspace configurations. The growing number of startups and small enterprises in Australia has increased the demand for versatile, cost-effective and high-quality office furniture solutions.
The Australia Office Furniture Market is estimated to be valued at USD 1.14 Bn in 2024 and is expected to reach USD 1.44 Bn by 2031, growing at a compound annual growth rate (CAGR) of 2.4% from 2024 to 2031.
Key Takeaways
Key players operating in the Australia office furniture are Herman Miller, Steelcase Inc., Kimball International, HNI Corporation
Key opportunities in the market include growing popularity of activity-based working, rise of co-working spaces and shared offices, and increasing focus on sustainable furniture made from recycled materials.
The Australia Office Furniture Market has strong potential for global expansion into regions with significant presence of Australian companies such as Asia Pacific, North America, Europe and the Middle East. Australian furniture manufacturers can leverage advanced design, affordability and high quality to capture share in foreign markets.
Market drivers
The key driver for the growth of Australia office furniture market is the increasing establishment of startups and small enterprises. Australia is emerging as a prominent startup hub in the Asia Pacific region with cities like Sydney, Melbourne and Perth attracting significant venture capital funding and housing over 33,000 startups. This has increased the demand for flexible, adaptable and affordable office furniture designed for collaborative work environments. Furthermore, trends such as activity-based working that allows employees to select appropriate workspaces matching their work styles is creating new opportunities for multifunctional and movable furniture in Australia.
PEST Analysis
Political: The government policies regarding imports and exports of office furniture for Australia market.
Economic: Economic conditions like GDP, income levels, inflation rates affecting spending power of organizations on office infrastructure.
Social: Changing workspace culture and trends regarding open workplace concepts and need for collaborative spaces influencing furniture needs.
Technological: Advances in materials for chairs, desks enabling adjustable, ergonomic designs and integration of technology like power outlets, wireless connectivity in furniture enhancing productivity and collaboration.
Office Furniture Market by Geographical Regions
Australia's two largest cities, Sydney and Melbourne account for over 60% of the total office furniture market in value terms. This is due to the high concentration of corporate offices of all sizes in these cities which see steady refurbishment and replacement cycles keeping demand robust. The cities also have a large installed base of furniture after years of growth that requires regular maintenance and replacement of worn components.
Fastest Growing Region
The state of Queensland is emerging as the fastest growing region for the Australia office furniture market driven by expansions of local businesses as well as new offshore companies establishing facilities. Its capital Brisbane has seen strong economic growth outpacing the national average in recent years based on sectors like education, tourism, financial services attracting new commercial office space completions and tenants. This is translating to higher spend on fitted out interiors and furniture to outfit growing floor area requirements.
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Ravina Pandya, Content Writer, has a strong foothold in the market research industry. She specializes in writing well-researched articles from different industries, including food and beverages, information and technology, healthcare, chemical and materials, etc.
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