Yahoo Finance China Office Furniture Market - Growth, Trends, and Forecast (2020-2025)
China is one of the largest producers and exporter of office furniture in the world. The Chinese furniture industry is achieving continuous growth. The office furniture market in China is driven by updating production technologies and manufacturing different varieties, specialized production methods, and manufacturing.
New York, Dec. 04, 2020 (GLOBE NEWSWIRE) -- Reportlinker.com announces the release of the report "China Office Furniture Market - Growth, Trends, and Forecast (2020-2025)" - https://www.reportlinker.com/p05989474/?utm_source=GNW
The intelligent and customized office furniture is expected to drive the growth of the entire office furniture industry. For instance, Aurora China Co. Ltd and other companies have deployed the smart office furniture, in order to cater to the new generation’s pursuit of office intelligence and personalization.
The popularization of the concept of health among consumers in China is driving the market of ergonomics chair in the office furniture market of the country. Rising awareness towards the environment is driving consumers to look for eco-friendly solutions for the office furniture designs.
Key Market Trends
China Exports Share in the Office Furniture Market is Rising
China’s share of exports in the office chair market has risen and is likely to follow the same trend. China leads the export market due to the cost-effectiveness and operational benefits of its manufacturing policies. Chinese main export destinations for office furniture are the United States, Germany, France, the United Kingdom, and Japan, with the United States being the major importer. Moreover, China can meet its entire country’s demand through production, and there is less than 1% of imports in China.
Yangtze River and Pearl River Delta are the major Production region For Office Furniture in China
Yangtze River Delta Industrial Zone and the Pearl River Delta Industrial Zone are the main regions in China, accounting for the major market share in the production of Chinese office furniture. China’s office furniture is concentrated mainly in the five major industrial zones of Northeast, Yangtze River Delta, West, Bohai Rim, and Pearl River Delta. Out of these five areas, Pearl River Delta is the most concentrated and developed area of office furniture in China. Yangtze River Delta zone is centered on Jiangsu, Zhejiang, and Shanghai. The Yangtze River Delta region is known for swivel chairs and wood furniture in China.
Competitive Landscape
The Chinese office furniture market is fragmented and is moving toward a concentration, as major ten players have almost 15% share in the market. Small firms are getting closed due to high operational costs in the market. The companies are majorly involved in innovations and advancements in the office furniture market by developing smart furniture solutions for consumers in the market. China’s office furniture market is experiencing major competition from other Asian and North American manufacturers in the market.
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