Recycled office furniture in the US: Key market research findings
- Availability of office furniture for rent drives market growth
- Seating segment dominates the market currently
- Key vendors – Atlanta Office Liquidators, Envirotech Office, Office Liquidators, PVI Office Furniture, and Recycled Office Environments
Technavio’s market research analysts predict the recycled office furniture market in the US to grow at a CAGR of over 5% between 2016 and 2020. The growth of the market can be accredited to the growing availability of office furniture on a rental basis. The rental industry is driven by macroeconomic factors such as a rise in the number of businesses operating domestically and the decreasing unemployment rate. Business locations in this industry closely follow the overall distribution of all business establishments across the US. CORT is one of the prominent competitors in the office rental furniture market space in this region.
The new market research report from Technavio presents a breakdown and analysis of the recycled furniture segments based on the product.
“Currently, there is an upsurge in the demand for fireproof office furniture. A growing number of vendors are manufacturing flame repellent furniture from recycled material. The Center for Applied Innovation in Competitive Technologies (CIATEC) in Mexico recently developed materials from recycled polyolefins that have flame retardant properties and can be used in everyday items such as office furniture and beams. Wood plastic composite is another innovation in the office furniture sector,” says Brijesh Kumar Choubey, Lead Analyst, Consumer & Retail, Technavio Research
By 2020, the systems segment will account for almost 28% of the overall market revenue to replace the seating segment as the key revenue generating vertical of this market. Office furniture systems comprise panel and modular systems, commonly called office systems or cubicles. They are portable workstations or systems with integrated work surfaces, space dividers, and lighting. Product features such as flexibility of configuration, superior ergonomics, and the ability to conceal cables will contribute to the growth of this segment over the next four years.
The key vendors in the market include Atlanta Office Liquidators, Envirotech Office, Office Liquidators, PVI Office Furniture, and Recycled Office Environments. Companies with innovative product offerings and high financial resources are expected to have an edge over their competition. With the competitor landscape of the market becoming more intense over the years, many vendors are using the online media to enhance their reach and overall value for customers, which includes corporate businesses, small business owners, and home office furniture buyers. Manufacturers are also opting for direct marketing through catalogs. Retailers use the vast reach of social media to influence customer buys and make the entire purchase process more interactive.
A more detailed analysis is available in the Technavio report, Recycled Office Furniture Market 2016-2020.
We can customize reports by other regions and specific segments upon request.
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