The school furniture market share in North America is expected to increase by USD 288.14 million from 2021 to 2026, and the market’s growth momentum will accelerate at a CAGR of 2.88%, according to a report from Technavio.
Key School Furniture Market Driver in North America
One of the key factors driving growth in the school furniture market in North America is the growing demand for modern, luxury furniture. A growing economy and increased focus on aesthetics have fueled the demand for luxury furniture in schools. The focus on aesthetics boosts the school furniture market, especially the luxury school furniture segment. Accessories in the furniture industry, including wall plates and other modern additions, are customized in terms of color, theme, texture, and design. Contemporary luxury furniture is characterized by innovative designs and technologically-advanced production practices and is sold at higher costs than traditional furniture. Thus, it aids the growth of the school furniture market in North America in terms of value.
Key School Furniture Market Trend in North America
The demand for international education is another factor supporting the school furniture market share growth in North America. The demand for international schools in North America is growing rapidly due to the increasing income levels and expanding the population of ex-pats that do not speak English as their native language. Moreover, the excellence of education, infrastructure, and amenities these schools offer inspires parents. These factors have led to an increase in international schools in North America. With the growing count of international students in North America, the number of international schools in North America is expected to increase. This, in turn, will drive the demand for school furniture in North America during the forecast period.
Key School Furniture Market Challenge in North America
The high transportation cost coupled with freight loss will be a major challenge for the school furniture market in North America during the forecast period. The supply chain of the school furniture market in North America includes processes like obtaining raw materials from suppliers, manufacturing furniture, stocking furniture in warehouses, and stock management. Changing transportation costs across the region impact manufacturers as the transportation of furniture and its associated products forms a significant part of the supply chain. An increase in transportation costs also raises the price of end products.
Moreover, the spread of COVID-19 has affected the transportation industry due to the shortage of labor and high health risks associated with long transportation routes. Manufacturers of school furniture are concerned about the safety of their products during transportation. They also focus on preventing freight losses as school furniture faces a risk of freight loss while being shipped to other countries or continents. These concerns are expected to affect the growth of the market negatively.
COVID Impact and Recovery Analysis
During the lockdown period in 2020 and early 2021, schools and universities were shuttered to combat the spread of the disease. However, the market is expected to witness a rise in furniture sales via e-commerce channels during the forecast period. Hence, the market has started to recover with the reopening of schools and the resumption of education activities since Q3 2021, followed by lifting restrictions and economic recovery. Such factors are expected to drive the market during the forecast period.
The school furniture market share growth in North America by the seating segment will be significant during the forecast period. To cope with the upgrading education system, students and faculty members need advanced multipurpose furniture to execute their learning process efficiently. To fulfill this growing requirement, vendors are offering advanced, adjustable chairs and desks that are efficient for use at lectures, group studies, and individual learning. The demand for desktop tables with attached chairs is expected to grow during the forecast period.
Apart from classroom furniture, schools in North America are replacing seating furniture used by teachers, administrative staff, and those used in cafeterias with contemporary chairs and tables. This shift toward modern seating systems in schools will further fuel the demand for seating furniture.