School Furniture Market Is Projected to Expand At A CAGR Of 6.5% Between 2024 And 2032

12 Apr 2023

The global market for school furniture market is expected to grow at a CAGR of 6.5% during the forecast period of 2024 to 2032. Increasing emphasis on improving access to education in rural areas, towns, and cities has been a major factor in market expansion. In 2020, the National Center for Education Statistics (NCES) estimated that there were 130,930 K-12 schools in the United States, with an average of 2,618 per state. The average number of students per school has doubled, citing the same research. The pandemic of COVID-19 significantly damaged the market. Initially, the online mode of education required students to complete their education from home, resulting in the closure of numerous schools. During the outbreak, the domestic and international supply of furniture-manufacturing components, services, raw materials, and other consumables suffered difficulty. Rapidly declining school furniture demand had a severe financial impact on industry participants and the great majority of manufacturers.

It is projected that the rising demand for flexible classroom seating would likewise increase product demand. This school furniture is built on evolving space layouts and can help prevent children's growing posture problems. These promote improved posture in children, provide comfortable ergonomic solutions, can sustain the weight of students, and provide sufficient space for movement. Multiple seating options, including chairs, yoga balls, couches, and spring-loaded stools, are growing in favor.

The U.S. government has made substantial contributions to programs that promote school development and student enrollment. In 2009, the Obama administration committed $1 billion to provide preschool education to all children, leading states to raise their early education investments. Under the current government led by Vice President Joe Biden, all three- and four-year-olds will get a high-quality, universal preschool education. Consequently, it is projected that these programs will increase market income.

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Innovations in this industry have also boosted the demand for school furniture. For instance, in November 2020, the DIY backless chair was released by MiEN Company, a manufacturer of innovative furniture goods for the education sector. The device is designed for learning environments that enable students to strengthen their core while in a position to learn. Without a back, the chair can be easily concealed under tables when students opt to stand.

As the education sector in the United States continues to improve, traditional school furnishings are being replaced with inventive, visually beautiful, multipurpose, and more comfortable modern furnishings. Modern dynamic teaching techniques, such as blended learning and flipped classrooms, require furniture that is adjustable, mobile, and easily customizable. As a result, school furniture features an increase in ergonomic designs, improved aesthetics, and multi-functionality.

With a 75% revenue share in 2023, the classroom sector dominated the application type. Increased innovation in the utilization of raw materials to create classroom furniture has led to a greater emphasis on collaboration, reconfiguration, and ergonomically derived classroom furniture. The increasing number of kids enrolled in schools across the country has boosted the need for classroom chairs and tables.

The library and laboratories category are projected to grow at a CAGR of 5% over the forecast period. This development is fostered by the extensive time students spend in libraries and labs working on homework, projects, and assignments, as well as engaging in discussions on these subjects. In recent years, furniture in libraries and laboratories that encourages and supports interactive and collaborative learning has gained favor.

In 2023, sitting furniture accounted for approximately 55% of the school furniture market's revenue. The need for this position exists in all educational institutions. Every learning environment requires ergonomic and comfortable furniture that promotes students' complete concentration and focus on the learning process. According to the Next Education Manager at Kinnarps, a manufacturer of office furniture highlighting the importance of quality school furniture, fifty percent of students believe that the physical environment has a big impact on how they feel during the school day. This is one reason why the demand for ergonomic seating equipment on school premises has increased.

The market for storage units is estimated to grow at a CAGR of 5.5% during the forecast period. The trend of offering personal cabinets to students in the United States is projected to have a favorable impact on the growth of the school furniture market throughout the forecast period. Increasing demand for storage cabinets in school administrative offices, classrooms, laboratories, libraries, and activity halls is expected to boost this segment's expansion.

The market for school furnishings is fragmented and fiercely competitive. Businesses are providing new seating, lab, and storage solutions to the market in order to remain competitive. Fleetwood, Ballen Panels Ltd, Scholar Craft, CBT Supply Dba Smartdesks, and VS America Inc. are the leading competitors in the industry under consideration. The market consists of a big number of well-established companies as well as a number of small and medium-sized rivals. Businesses place a higher emphasis on product innovation and technological integration in order to grow their market share in the country. Mergers and acquisitions are utilized by market participants to lessen competition and grow their consumer base. Steelcase, Inc. created Edvi, a vibrant and efficient personal storage solution. The product is a jointless structure supported by meticulously developed jigs and fixtures. The storage container's padded top allows it to double as a portable seating option.

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