South Korea Office Furniture Market Introduction and Overview
According to SPER Market Research, the South Korea Office Furniture Market is estimated to reach USD 951.24 billion by 2033 with a CAGR of 3.35%.
The report includes an in-depth analysis of the South Korea Office Furniture Market , including market size and trends, product mix, applications, and supplier analysis. Office furniture anticipates a crucial part in spreading out a supportive and pleasant workplace. Focal pieces combine work areas, seats, record organizers, and conference tables, intended to help different assignments and exercises. Ergonomically arranged furniture reduces the bet of strain and injury, driving better position and as a rule. Present day office furniture routinely integrates progression satisfying highlights, like connection point the organization designs and portable parts, to redesign worth and adaptability. Incredibly, especially picked furniture adds to the workplace's energy, mirroring the affiliation's image and culture. Whether in norm or open-plan designs, the right office furniture can lift delegate vibe of sureness, capacity, and joint effort, making it a crucial undertaking for any business.
- November 2023; Nitori Co., frequently alluded to as Japan's IKEA, sent off its debut store in South Korea, advancing its extension endeavors across Asia. This moves lines up with Nitori Co's. aspiration to extend its absolute store count from 902 to 3,000 by 2032, fundamentally through new store openings in worldwide business sectors.
- March 2022; Worldwide e-sports association Gen.G Esports (Gen.G) and FURSYS' seat brand Sidiz declared the restoration of a long-term organization and development of joint showcasing exercises from Korea to worldwide business sectors.
Market Opportunities and Challenges
Opportunities- Developing number of infrastructural improvement exercises for business exercises, is a positive sign for the worldwide office furniture market. Considered as land potential open doors, the quantity of places of business are on the ascent as they turn out revenue and learning experiences for various stakeholders. The focus of all small and enormous scope associations towards further developing the worker efficiency by offering a helpful, agreeable and outfitted climate is a significant development driving factor. Increasing costs of office furniture has risen the interest for secluded furniture settings, such, that can fill large number of needs. Furthermore, developing interest for home-like office furniture, supported by the pattern of remote working and work from home is decidedly impacting the market development.
Challenges- Fluctuations in unrefined substance costs have altogether controlled the development of the office furniture market as of late. Office furniture fabricating depends vigorously on different unrefined components like wood, metal, plastic, and leather. Notwithstanding, the costs of these unrefined components have seen high instability over the most recent few years due to different worldwide and neighborhood factors. This unpredictability in natural substance costs has obliged the office furniture makers from undertaking forceful limit developments and new item dispatches. It has additionally affected their net revenues extensively as high info expenses couldn't be completely given to the clients. This unpredictability in natural substance costs poses planning difficulties for makers and puts long haul ventures down.
Market Competitive Landscape
The South Korea Office Furniture Market is a highly competitive arena due to the presence of multiple global and regional companies in the competitive environment. Leading companies in the industry are Dawon Chair Co. Ltd., Fomers Furniture, Fursys, Hyundai Livart Corporation, Kaos Co., Ltd., Livart Furniture Co., Ltd., Merryfair, Patra Co., Ltd., Sangdo Furniture Co., Ltd. and others.
Scope of the Report:
| Report Metric | Details |
Market size available for
years | 2020-2033 |
| Base year considered | 2023 |
| Forecast period | 2024-2033 |
| Segments covered | By Type, By Materials, By Distribution Channel, By Price Range
|
| Regions covered | Seoul Capital Area, Yeongnam (Southeastern Region), Honam (Southwestern Region), Hoseo (Central Region) and Others.
|
| Companies Covered | Dawon Chair Co. Ltd., Fomers Furniture, Fursys, Hyundai Livart Corporation, Kaos Co., Ltd., Livart Furniture Co., Ltd., Merryfair, Patra Co., Ltd., Sangdo Furniture Co., Ltd. and others. |
COVID-19 Impact on South Korea Office Furniture Market
The COVID-19 pandemic essentially influenced South Korea's office furniture market. The shift to remote work prompted a flood popular for work space furniture, while conventional office furniture deals declined as organizations deferred developments and redesigns. Organizations focused on ergonomic and multifunctional furniture to improve work space efficiency. Be that as it may, production network disturbances and expanded natural substance costs presented difficulties, prompting greater costs and longer conveyance times. Regardless of these obstacles, the market adjusted, focusing on development and maintainability to meet advancing client needs.
Key Target Audience:
- Small and medium- sized enterprises
- Large corporations
- Startups
- Co-working spaces
- Government Offices
- Educational Institutions
- Healthcare facilities
Our in-depth analysis of the South Korea Office Furniture Market includes the following segments:
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By Type:
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Chairs
Tables
Storage Cabinets
Desks
Others
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By Material:
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Wood
Metal
Plastic
Others
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By Distribution Channels:
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Offline
Online
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By Price Range:
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Low
Medium
High
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Key Topics Covered in the Report:
- South Korea Office Furniture Market Size (FY’2024-FY’2033)
- Overview of South Korea Office Furniture Market
- Segmentation of South Korea Office Furniture Market by Type (Tables, Chairs, Storage Cabinets, Desks and Others.)
- Segmentation of South Korea Office Furniture Market by Material (Wood, Metal, Plastics and Others)
- Segmentation of South Korea Office Furniture Market by Distribution Channels (Offline and Online)
- Segmentation of South Korea Office Furniture Market by Price Range (Low, Medium and High)
- Statistical Snap of South Korea Office Furniture Market
- Expansion Analysis of South Korea Office Furniture Market
- Problems and Obstacles in South Korea Office Furniture Market
- Competitive Landscape in the South Korea Office Furniture Market
- Impact of COVID-19 and Demonetization on South Korea Office Furniture Market
- Details on Current Investment in South Korea Office Furniture Market
- Competitive Analysis of South Korea Office Furniture Market
- Prominent Players in the South Korea Office Furniture Market
- SWOT Analysis of South Korea Office Furniture Market
- South Korea Office Furniture Market Future Outlook and Projections (FY’2024-FY’2033)
- Recommendations from Analyst
1. Introduction
1.1. Scope of the report
1.2. Market segment analysis
2. Research Methodology
2.1. Research data source
2.1.1. Secondary Data
2.1.2. Primary Data
2.1.3. SPER’s internal database
2.1.4. Premium insight from KOL’s
2.2. Market size estimation
2.2.1. Top-down and Bottom-up approach
2.3. Data triangulation
3. Executive Summary
4. Market Dynamics
4.1. Driver, Restraint, Opportunity and Challenges analysis
4.1.1. Drivers
4.1.2. Restraints
4.1.3. Opportunities
4.1.4. Challenges
4.2. COVID-19 Impacts of the South Korea Office Furniture Market.
5. Market variable and outlook
5.1. SWOT Analysis
5.1.1. Strengths
5.1.2. Weaknesses
5.1.3. Opportunities
5.1.4. Threats
5.2. PESTEL Analysis
5.2.1. Political Landscape
5.2.2. Economic Landscape
5.2.3. Social Landscape
5.2.4. Technological Landscape
5.2.5. Environmental Landscape
5.2.6. Legal Landscape
5.3. PORTER’s Five Forces
5.3.1. Bargaining power of suppliers
5.3.2. Bargaining power of buyers
5.3.3. Threat of Substitute
5.3.4. Threat of new entrant
5.3.5. Competitive rivalry
5.4. Heat Map Analysis
6. Competitive Landscape
6.1. South Korea Office Furniture Market Manufacturing Base Distribution, Sales Area, Product Type
6.2. Mergers & Acquisitions, Partnerships, Product Launch, and Collaboration in South Korea Office Furniture Market
7. South Korea Office Furniture Market, By Type (USD Million) 2020-2033
7.1. South Korea Office Furniture Market Size, Share and Forecast, By Type, 2020-2026
7.2. South Korea Office Furniture Market Size, Share and Forecast, By Type, 2027-2033
7.3. Chairs
7.4. Tables
7.5. Storage Cabinets
7.6. Desks
7.7. Others.
8. South Korea Office Furniture Market, By Material (USD Million) 2020-2033
8.1. South Korea Office Furniture Market Size, Share and Forecast, By Material, 2020-2026
8.2. South Korea Office Furniture Market Size, Share and Forecast, By Material, 2027-2033
8.3. Wood
8.4. Metal
8.5. Plastic
8.6. Others.
9. South Korea Office Furniture Market, By Distribution Channels (USD Million) 2020-2033
9.1. South Korea Office Furniture Market Size, Share and Forecast, By Distribution Channels, 2020-2026
9.2. South Korea Office Furniture Market Size , Share and Forecast, By Distribution Channels, 2027-2033
9.3. Offline
9.4. Online
10. South Korea Office Furniture Market, By Price Range (USD Million) 2020-2033
10.1. South Korea Office Furniture Market Size, Share and Forecast, By Price Range, 2020-2026
10.2. South Korea Office Furniture Market Size, Share and Forecast, By Price Range, 2027-2033
10.3. Low
10.4. Medium
10.5. High
11. South Korea Office Furniture Market Forecast, 2020-2033 (USD Million)
11.1. South Korea Office Furniture Market Size and Market Share
12. South Korea Office Furniture Market, By Region, 2020-2033 (USD Million)
12.1. South Korea Office Furniture Market Size and Market Share By Region (2020-2026)
12.2. South Korea Office Furniture Market Size and Market Share By Region (2027-2033)
12.3. Seoul Capital Area
12.4. Yeongnam (Southeastern Region)
12.5. Honam (Southwestern Region)
12.6. Hoseo (Central Region)
12.7. Others.
13. Company Profile
13.1. DAWON CHAIR CO. LTD.
13.1.1. Company details
13.1.2. Financial outlook
13.1.3. Product summary
13.1.4. Recent developments
13.2. FOMERS FURNITURE
13.2.1. Company details
13.2.2. Financial outlook
13.2.3. Product summary
13.2.4. Recent developments
13.3. FURSYS
13.3.1. Company details
13.3.2. Financial outlook
13.3.3. Product summary
13.3.4. Recent developments
13.4. HYUNDAI LIVART CORPORATION
13.4.1. Company details
13.4.2. Financial outlook
13.4.3. Product summary
13.4.4. Recent developments
13.5. KAOS CO., LTD.
13.5.1. Company details
13.5.2. Financial outlook
13.5.3. Product summary
13.5.4. Recent developments
13.6. LIVART FURNITURE CO., LTD.
13.6.1. Company details
13.6.2. Financial outlook
13.6.3. Product summary
13.6.4. Recent developments
13.7. MERRYFAIR
13.7.1. Company details
13.7.2. Financial outlook
13.7.3. Product summary
13.7.4. Recent developments
13.8. PATRA CO., LTD.
13.8.1. Company details
13.8.2. Financial outlook
13.8.3. Product summary
13.8.4. Recent developments
13.9. SANGDO FURNITURE CO., LTD.
13.9.1. Company details
13.9.2. Financial outlook
13.9.3. Product summary
13.9.4. Recent developments
13.10. Others
14. Conclusion
15. List of Abbreviations
16. Reference Links
SPER Market Research’s methodology uses great emphasis on primary research to ensure that the market intelligence insights are up to date, reliable and accurate. Primary interviews are done with players involved in each phase of a supply chain to analyze the market forecasting. The secondary research method is used to help you fully understand how the future markets and the spending patterns look likes.
The report is based on in-depth qualitative and quantitative analysis of the Product Market. The quantitative analysis involves the application of various projection and sampling techniques. The qualitative analysis involves primary interviews, surveys, and vendor briefings. The data gathered as a result of these processes are validated through experts opinion. Our research methodology entails an ideal mixture of primary and secondary initiatives.
