The North America K-12 furniture market is registering a CAGR of 4.44%, over the forecast period of 2019
NEW YORK, Sept. 11, 2019 /PRNewswire/ --
Market Overview
The North America K-12 furniture market is registering a CAGR of 4.44%, over the forecast period of 2019-2024. An increase in the number of K-12 schools across the world and growing awareness about the importance of education have led to a rise in the enrollment of students, which, in turn, is driving the demand for desks and chairs. The development of innovative products, such as portable furniture and flip classrooms, owing to technological developments, along with the increasing demand for eco-friendly furniture, is also providing a boost to the market growth. The rising demand for ergonomically-designed furniture from educational institutes is one of the major factors driving the market growth.
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- K-12 setting is a learning space and requires a unique set of solutions to deliver comfort, focus, and support students and teachers.
- K-12 furniture is used in classrooms, cafeterias, library, offices, and other areas.
- School furniture plays an active and crucial role in transforming a classroom from a static physical space into a dynamic learning environment. As technology evolves, it is not shocking to note how massively classrooms have been transformed in the past few years.
- Usually made from wood, metal, and plastic, the latest classrooms are designed in a way that is not only considered effective for use but also beneficial for physical health.
- The rising demand for ergonomically-designed furniture from educational institutes is one of the major factors driving the market growth.
- Today's students are getting more real-world experience creating solutions, exploring new ideas, and deconstructing things in maker spaces. Supporting these kinetic hands-on activities requires a different set of tools, such as adaptable storage, tables, and mobile whiteboards that bring students closer to their work.
Scope of the Report
A complete background analysis of the North America K-12 Furniture Market, which includes an assessment of the parental market, emerging trends by segments and regional markets, Significant changes in market dynamics and market overview is covered in the report. The report also features the qualitative and quantitative assessment by analyzing data gathered from industry analysts and market participants across key points in the industry's value chain.
Key Market Trends
Wood Furniture is Dominating the Market
- Wooden furniture is the most common in North America schools, due to the high manufacturing output of wooden products as compared to other materials. Furthermore, wood is conventionally looked at as the most preferred material for furniture production.
- America is one of the countries with high forest covers, and thus, the availability of wood for furniture making is high in the country. Thus, wood holds the highest market share for school furniture, by the material.
- With developing technology, manufacturers are able to cut wood in newer ways to create different furniture styles, suiting to each school setting. This has allowed the wood to remain as the major segment for the North American K-12 furniture market.
United States is Taking Largest Market Share
- In the fall of 2018, about 56.6 million students were expected to attend elementary and secondary schools, including 50.7 million students in public schools and 5.9 million in private schools in the US. Of the public school students, 35.6 million were expected to be in prekindergarten, through grade 8, and 15.1 million was expected to be in grades 9, through 12. The fall 2018 public school enrollment was slightly higher than the 50.6 million, enrolled in fall 2017, and was higher than the 49.5 million students, enrolled in fall 2010. Total public elementary and secondary enrollment is projected to increase between fall 2018 and fall 2027, to 52.1 million.
- With the number of students expected to increase slightly year-on-year, the requirement for furniture to accommodate the increase may also proportionally increase.
- According to the National Center for Education Statistics, 89,183 of the nation's public schools were considered to be regular schools. This represented nearly 91 percent of all operating public schools in the nation. California was home to 10,276 operating public schools in the 2013-2014 academic year, more than any other state. Delaware, meanwhile, was home to 219 operating public schools, fewer than any other state.
Competitive Landscape
The report covers major international players operating in the North America K-12 Furniture Market. The India mattresses market is domestically dominated by players such as Steelcase, Knoll Inc, Haworth Inc, Krueger International, and others. However, with technological advancement and product innovation, mid-size to smaller companies are increasing their market presence by securing new contracts and by tapping new markets.
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