nirbhayprakashan25 Nov 2022
Rising disposable income, product innovation, and technological advancement are expected to fuel the Saudi Arabia office furniture market through 2026.
According to TechSci Research report “Saudi Arabia Office Furniture Market By Product Type (Chairs, Desks, Filing Cabinets & Lockers, Others (Workstations, Conference Tables, Sofas, etc.)), By Raw Material (Wooden, Metallic, Plastic, Others (Bamboo, Cane, etc.)), By Price Range (Mass, Premium/Luxury), By Distribution Channel (Contract/Direct Sales, Furniture Retail Outlets, Online), By Region (Western, Northern & Central, Eastern, Southern), Competition, Forecast & Opportunities, 2016-2026”, Saudi Arabia office furniture market was valued USD683.44 million in 2020 and is anticipated to grow at a CAGR of 7.42% in value terms in the next five years to reach USD1066.95 million by 2026.
Anticipated growth in the market can be attributed to rapidly expanding business environment and office culture around the world, further propelling the industry's growth. The infrastructure dedicated to the office complexes and commercial sectors is multiplying rapidly and supporting the growth of the market in the upcoming five years. Moreover, urban infrastructure development, industrialization and increased demand for aesthetic furniture promoting modern office furniture is further driving the growth of the Saudi Arabia office furniture market in the next five years.
During the previous two decades, Saudi Arabia has seen a massive surge in construction. The increasing number of corporate offices and rising construction of information technology parks in the region are contributing immensely to the growth of this market in Saudi Arabia and are expected to further continue to grow during the forecast period.
Browse more than 21 market data Figures and spread through 77 Pages and an in-depth TOC on “Saudi Arabia Office Furniture Market."
Saudi Arabia office furniture market can be segmented based on product type, raw material, price range, distribution channel, company and region. In terms of raw material, the market can be segregated into wooden, metallic, plastic and others. Plastic is the fastest-growing segment among all the types of raw material segments in the Saudi Arabia office furniture market with a CAGR of 8.16% in 2020.
This segment is expected to continue to grow at a higher pace during the forecast period on account of dynamic work environment in offices, changing preferences of working population in offices, combined with convenient and ease that they provide in the office premises. The factors such as increased price consciousness and value-seeking consumer behavior, etc. have led to the rise in demand for plastic-based office furniture.
The growing consumer inclination towards plastic-based furniture is due to certain advantages such as it is sturdy, easy to clean, durable, and less expensive, etc.
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Some of the major players operating in the Saudi Arabia office furniture market include:
·The Saudi Modern Factory Co.
·Jeraisy Group Company
·Al Sharq Al Masiya Trading Company
·Riyadh Furniture Industries Co., (RFI)
·International Furniture Company
·National Furniture Mfg. Co. Ltd. (Athath)
·Aljohozyah Altamah Factory Co. (PRONTO)
·Al-Makateb Co. Ltd.
·Herman Miller, Inc.
·Wefal International Est
“The online sales channel is the fastest-growing distribution channel in the Saudi Arabia office furniture market. The segment is projected to grow at a higher pace with a CAGR of 9.99% in the forecast period. The growth of online sales has risen particularly due to the COVID-19 pandemic situation. Consumer preferences are shifting towards online platforms, which provide customers with contactless delivery. It is a secure platform for customers to purchase office furniture, especially chairs and desks. On account of the increasing entry of e-tailers in the Saudi Arabia office furniture business coupled with improving logistics services, the online availability of a wide range of office chairs in the country has increased over the years.”, said Mr. Karan Chechi, Research Director with TechSci Research, a research based global management consulting firm.
“Saudi Arabia Office Furniture Market By Product Type (Chairs, Desks, Filing Cabinets & Lockers, Others (Workstations, Conference Tables, Sofas, etc.)), By Raw Material (Wooden, Metallic, Plastic, Others (Bamboo, Cane, etc.)), By Price Range (Mass, Premium/Luxury), By Distribution Channel (Contract/Direct Sales. Furniture Retail Outlets, Online), By Region (Western, Northern & Central, Eastern, Southern), Competition, Forecast & Opportunities, 2016-2026”, has evaluated the future growth potential of Saudi Arabia office furniture market and provides statistics & information on market size, structure, and future market growth. The report intends to provide cutting-edge market intelligence and help decision makers take sound investment decisions. Besides, the report also identifies and analyzes the emerging trends along with essential drivers, challenges, and opportunities in the Saudi Arabia office furniture market.
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