K-12 furniture market 2023-2027: A descriptive analysis of five forces model, market dynamics, and segmentation

NEW YORK, Jan. 13, 2023 /PRNewswire/ — According to Technavio, the global k-12 furniture market size is estimated to grow by USD 2,571.79 million from 2022 to 2027. The market is estimated to grow at a CAGR of  5.45{30865861d187b3c2e200beb8a3ec9b8456840e314f1db0709bac7c430cb25d05} during the forecast period. APAC will account for 55{30865861d187b3c2e200beb8a3ec9b8456840e314f1db0709bac7c430cb25d05} of the market’s growth during the forecast period – For more Insights on market size Request a sample report

Global K-12 Furniture Market – Five Forces
The global K-12 furniture market is fragmented, and the five forces analysis covers–

• Bargaining Power of Buyers

• The threat of New Entrants

• Threat of Rivalry

• Bargaining Power of Suppliers

• Threat of Substitutes

• Interpretation of porter’s five models helps to strategize the business, for entire details – buy the report!

Global K-12 furniture market – Customer landscape 

The report includes the market’s adoption lifecycle, from the innovator’s stage to the laggard’s stage. It focuses on adoption rates in different regions based on penetration. Furthermore, the report also includes key purchase criteria and drivers of price sensitivity to help companies evaluate and develop their growth strategies.

Global K-12 furniture market – Segmentation assessment

Segment Overview
Technavio has segmented the market based on the product (seating, storage, lab equipment, and others), application (classroom, library and labs, and others), and geography (APAC, Europe, North America, South America, and Middle East and Africa).

• The market share growth of the seating segment will be higher than the other segments during the forecast period. The need for K–12 furniture will rise due to industry experts repeatedly emphasizing the necessity for chairs with backrests and seats that can adjust to a student’s physical needs. In addition to minimizing slouching and discomfort from prolonged time spent in the lab or classroom, chairs assist children in maintaining appropriate posture. To meet the needs of students of all ages and heights, educational institutions are focused on using chairs with height and back adjustments. Therefore, during the projected period, all of these factors are anticipated to fuel market expansion for K–12 furniture.

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Geography Overview
By geography, the global k-12 furniture market is segmented into APAC, Europe, North America, South America, and Middle East and Africa. The report provides actionable insights and estimates the contribution of all regions to the growth of the global k-12 furniture market.

• APAC will account for 55{30865861d187b3c2e200beb8a3ec9b8456840e314f1db0709bac7c430cb25d05} of the market’s growth during the forecast period. The APAC global K-12 furniture market is being driven by factors including rising urbanization, bettering people’s lifestyles, and expansion in the educational sector. Due to the high manufacturing of wood items compared to other materials, wood furniture is most prevalent in schools in the APAC region – Download a Sample Report

Global K-12 furniture market– Market dynamics

Key factor driving market growth

• The growing importance of K-12 education is notably driving market growth.

• With more elementary schools opening up around the world and people becoming more aware of the value of education, there are now more kids, which raises the need for tables and chairs.

• The market is expanding due to the creation of innovative products such as portable furniture and classrooms as technology develops, as well as the rising desire for eco-friendly furniture.

• Furthermore, the rising demand for ergonomically designed furniture in educational institutions is propelling the growth of the international K–12 furniture market during the forecast period.

Leading trends influencing the market 

• Technological advancement boosting market growth is the key trend in the market.

• The educational sector is experiencing technological advancements, and outdated school furniture is being replaced with more modern and appealing pieces.

• Modern dynamic teaching methods like blended learning and flipped classrooms call for adaptable, movable furniture that can be easily changed.  As a result, there is a great need for school furniture that is not stacked and has an ergonomic design.

• Additionally, when choosing classroom furniture, educational institutions all around the world acknowledge the value of ergonomics. They put a lot of effort into introducing furniture that can adjust to the height and age of the students. All these factors are expected to drive the growth of the focus market during the forecast period.

Major challenges hindering the market growth

• Fluctuating prices of raw materials are the major challenge impeding market growth. 

• Large businesses are being forced by the rise in raw material costs to either adjust or risk losing consumers to rivals who offer the same things for less and sell their goods for more.

• The rise in the price of raw materials used to make exquisite furniture could also be the result of changes in labor laws.

• Plywood, chipboard, fiberboard, metal, laminate, and plastic are the primary raw materials utilized in the production of fine furniture. Climate and supply chain disruptions affect the price of raw materials needed to make K-12 furniture. Such factors will hamper the market growth during the forecast period.

Driver, Trend & Challenges are the factor of market dynamics that states about consequences & sustainability of the businesses, find some insights from a sample report!

What are the key data covered in this K-12 furniture market report?

• CAGR of the market during the forecast period

• Detailed information on factors that will drive the growth of the K-12 furniture market between 2023 and 2027

• Precise estimation of the size of the K-12 furniture market and its contribution to the parent market

• Accurate predictions about upcoming trends and changes in consumer behavior

• Growth of the K-12 furniture market across APAC, Europe, North America, South America, and Middle East and Africa

• A thorough analysis of the market’s competitive landscape and detailed information about vendors

• Comprehensive analysis of factors that will challenge the growth of K-12 furniture market vendors

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Table of Contents

1 Executive Summary

2 Market Landscape

3 Market Sizing

4 Historic Market Size

5 Five Forces Analysis

6 Market Segmentation by Product

7 Market Segmentation by Application

8 Customer Landscape

9 Geographic Landscape

10 Drivers, Challenges, and Trends

11 Vendor Landscape

12 Vendor Analysis

13 Appendix

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