Market Size of Russia Office Furniture Industry
Study Period | 2020 - 2029 |
Base Year For Estimation | 2023 |
Forecast Data Period | 2024 - 2029 |
Historical Data Period | 2020 - 2022 |
CAGR | 9.00 % |
Market Concentration | Low |
Major Players*Disclaimer: Major Players sorted in no particular order |
Need a report that reflects how COVID-19 has impacted this market and its growth?
Russia Office Furniture Market Analysis
The COVID -19 pandemic has disrupted the office furniture market by making a change in the work pattern, where in employees were supposed to work from home. Consequently, there were minimal operations in the workplace and even new companies who have planned to start their offices from 2020 were unable to execute things as per their plans. However the market is expected to grow within 2 years.
There has been an increase in the number of industries in the recent years and a subsequent demand for Office Furniture owing to the needs of a better working area including cubicles, tables etc. For boosting colleague communications, collaborative environment and social interactions, organizations are creating informal office spaces. This shift has prompted the manufacturers in the office furniture industry to introduce advanced furniture products. However, increasing prices for office spaces are forcing enterprises and companies to adopt modular office furniture.
Also the present day offices are expected to maintain an aesthetic appearance in order to have a good working atmosphere for the employees. Also there has been a rise in the demand for smart workplace furniture that provides internet connectivity as well as promotes better posture and movement support. Thus, manufacturers are designing office furniture that minimizes stress and offers enhanced comfort. These factors account for the increase in the supply and demand of Office Furniture Market in Russia.
Russia Office Furniture Industry Segmentation
The Office Furniture Market includes all the equipment essential for a workspace in an office. The Russian Office Furniture Market is segmented by Material, Product and by Distribution Channel . By Material, the market is segmented into Wood, Metal, Plastics and Others. By Product, the market is segmented into Seating, Storage Units, Workstation, Tables and Other Accessories. By Distribution Channel, the market is segmented into Offline and Online.
Material | |
Wood | |
Metal | |
Plastic | |
Other Materials |
Product | |
Seating (Office Chairs, Guest Chairs, Stools, Sofa, Others) | |
Storage Units (Bins & Shelves, Cabinets, Others) | |
Tables (Conference Tables, Occasional Tables, Others) | |
Others |
Distribution Channel | |
Offline | |
Online |
Russia Office Furniture Market Size Summary
The Russia office furniture market is experiencing a transformation driven by changes in work patterns and the evolving needs of modern workplaces. The COVID-19 pandemic initially disrupted the market, leading to a shift towards remote work and delaying new office setups. However, as businesses adapt, there is a growing demand for office furniture that supports collaborative and informal work environments. This demand is fueled by the need for enhanced communication, social interaction, and aesthetic appeal in office spaces. Manufacturers are responding by introducing advanced and modular furniture solutions that offer comfort, internet connectivity, and ergonomic support, catering to the preferences of contemporary employees. The market is further bolstered by the expanding corporate sector, the real estate industry's growth, and the increasing preference for premium and designer furniture.
Moscow remains a central hub for business development in Russia, with upcoming redevelopments in business centers expected to drive demand for office furniture. The market is characterized by a rise in online sales, driven by the growing number of start-ups, increased internet penetration, and consumer preference for the convenience of online shopping. Major international players dominate the market, but mid-size and smaller companies are gaining traction through technological advancements and product innovations. Companies like Metta, IKEA, FELIX, Narbutas, and ARTU are key players, with initiatives such as IKEA's collaboration with Marimekko and Narbutas's expansion into Germany highlighting the industry's focus on sophisticated and modern office solutions.
Russia Office Furniture Market Size - Table of Contents
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1. MARKET DYNAMICS
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1.1 Market Overview
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1.2 Market Drivers
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1.3 Market Restraints
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1.4 Value Chain / Supply Chain Analysis
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1.5 Porters 5 Force Analysis
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1.5.1 Threat of New Entrants
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1.5.2 Bargaining Power of Buyers/Consumers
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1.5.3 Bargaining Power of Suppliers
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1.5.4 Threat of Substitute Products
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1.5.5 Intensity of Competitive Rivalry
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1.6 Insights on impact of technology and innovation in the Market
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1.7 Impact of COVID-19 on the Market
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2. MARKET SEGMENTATION
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2.1 Material
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2.1.1 Wood
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2.1.2 Metal
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2.1.3 Plastic
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2.1.4 Other Materials
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2.2 Product
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2.2.1 Seating (Office Chairs, Guest Chairs, Stools, Sofa, Others)
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2.2.2 Storage Units (Bins & Shelves, Cabinets, Others)
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2.2.3 Tables (Conference Tables, Occasional Tables, Others)
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2.2.4 Others
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2.3 Distribution Channel
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2.3.1 Offline
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2.3.2 Online
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Russia Office Furniture Market Size FAQs
What is the current Russia Office Furniture Market size?
The Russia Office Furniture Market is projected to register a CAGR of greater than 9% during the forecast period (2024-2029)
Who are the key players in Russia Office Furniture Market?
Metta company, IKEA, FELIX Company, Narbutas and ARTU factory are the major companies operating in the Russia Office Furniture Market.