New report highlights key market trends.

 

Australia’s office furniture market is estimated to grow by 2.4 per cent over the next six years with environmentally-friendly materials a key feature of product development.

 

Research firm CoherentMI said the Australian office furniture market is driven by rising demand for ergonomic furniture from organisations focusing on employee well-being. 

 

Productivity levels have increased manifold due to the use of ergonomic office furniture. 

 

Additionally, growing adoption of activity-based working is augmenting the demand for versatile and collaborative furniture. 

 

However, availability of low-cost alternatives from Asian countries is seen as a major challenge for industry players.

 

According to CoherentMI, the Australian office furniture market is estimated to value at $ 1.6 billion in 2024 and is anticipated to reach a value of $ 2.1 billion by 2031 at a CAGR of 2.4 per cent during the forecast period 2024-2031.

 

The research firm said manufacturers are increasingly using materials that have lesser environmental impact such as recycled wood, metal, and plastic. 

 

A focus on innovation and development of multi-functional and smart furniture integrated with technologies is a key trend in the market. 

 

Smart furniture embedded with sensors allows remote monitoring of occupancy and adjusts accordingly. 

 

Furthermore, growing popularity of standing desks and other active work stations to promote employee wellness is gaining traction in the market.