In a recent market study published by Fact.MR, the current and future prospects of the Office Chair Market are thoroughly analyzed. Further, the report includes an in-depth analysis of the various factors that are likely to control the growth trajectory of the Office Chair Market in the upcoming years. In addition, a qualitative and quantitative assessment of the various market segments is enclosed in the report and accurately represented in the form of tables, graphs, and figures.
The report indicates that the Office Chair Market is expected to register a CAGR growth of ~XX% over the forecast period and reach a value of ~US$XX by the end of 2018 to 2028. The report elaborates on the micro and macro-economic factors that are projected to influence the growth of the Office Chair Market in the upcoming years.
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Essential Findings of the Report
- Factors that are likely to impede the growth of the Office Chair Market over the forecast period 2018 to 2028
- Competition analysis that provides intricate details related to the business prospects of leading market players
- Major trends influencing the dynamics of the Office Chair Market
- Y-o-Y growth of each market segment
- Pricing strategies of various market players in the Office Chair Market
Important questions pertaining to the Office Chair Market catered to in the report:
- What is the projected revenue generated by some prominent market players in the Office Chair Market?
- What are the prospects of the Office Chair Market in region 1?
- What is the scope for innovation in the Office Chair Market?
- How have government policies impacted the dynamics of the Office Chair Market in various regions?
- Which region has the highest concentration of tier 1 companies?
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Key players in the office chair market have introduced a wide range of product variants to fulfil needs of different workplaces that vary according to an organization’s capacity. Manufacturers focus on the development and design of requirement-specific office chairs, such as those for conference rooms, private cabins, and desks. Availability of office chairs in a wide variety of designs has favored their adoption in recent years, thereby fuelling growth of the office chair market.
Office Chair Market: High Shipping & Transportation Costs and Low Import Penetration Constraining Growth Prospects
Shipping and transportation costs have prevailed as a major concern among players in the office chair market, in terms of both forward and reverse logistics. Additional associated costs that include packaging, warehousing, collection, and reshipping, which adds to final cost of the product, has further been significantly impeding growth of the office chair market. Moreover, with growing preference for online purchases, which offers a buy-back approach to customers without charging them the transportation costs, has limited the revenue generation scope for office chair manufacturers. This has confined growth prospect of the office chair market.
With the office chair market being highly fragmented, few established manufacturers hold leading market shares. Import activities related to office chair have remained relatively low, as requirements of customers in emerging markets vary from those in developed regions. This has further inclined purchase preference of customers toward domestic manufacturers over international vendors, which has impacted the global supply chain of the office chair market.
Office Chair Market: Ecommerce Paving New Frontiers
The office chair market will continue to witness significant opportunities in the online sales platform, as the office furniture industry becomes more organized. In the light of growing consumer appetite for online purchase, smart office furniture manufacturers are selling their furniture through their own website or through popular retail websites such as eBay, Amazon, and more. This is likely to pave new frontiers for the office chair market.
In 2017, Amazon’s furniture sales reached US$ 4 billion, representing the popularity of an e-commerce platform for buying furniture through an online platform, and office chair sales were influenced significantly. As the office chair market is fragmented, domestic manufacturers are approaching online portals, which include Trendsutra Platform Service Private Limited (pepperfry.com) and Urban Ladder, to showcase their products, and bolster their sales.
Note: The insights mentioned here are of the respective analysts, and do not reflect the position of Fact.MR
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