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According to #TechSci Research report on Saudi Arabia Office Furniture Market is bound to experience impressive growth with anticipated CAGR in the forecast period, 2022-2026, on the account of rapidly expanding business environment and office culture.<br>Gain More Insight: https://bit.ly/305nflz<br>Get Sample Report: https://bit.ly/3bUUxWH<br>Website: https://www.techsciresearch.com/<br>Market Research News: https://techsciblog.com/
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2016 – 2026 SAUDI ARABIA OFFICE FURNITURE MARKET FORECAST & OPPORTUNITIES www.techsciresearch.com MARKET INTELLIGENCE . CONSULTING
Scope of Report Product of Interest (POI): Office Furniture Office furniture is an important part of office management; it is mostly used for indoor activity. Employees working in the office should be provided with comfortable and convenient furniture so that they can work efficiently. The major and most popular office furniture are chair, table, cabinets, cupboards, sofas, racks etc. office furniture are common in all offices. Market Segmentation DISTRIBUTION CHANNEL Review Period 2016 – 2019 Base Year 2020 Estimated Year 2021 Forecast Period 2022 – 2026 RAW MATERIAL TYPE Year Range • Exclusive Showrooms • Supermarkets/Hypermarkets • Online • Others • Furniture Retail Outlets • Traditional stores • Others • Wood • Metal • Plastic • Others • Bamboo • Cane • Others • Chairs • Desks • Filing Cabinets & Lockers • Others • Workstations • Conference Tables • Others REGION • Northern & Central • Southern • Eastern • Western PRICE RANGE • Mass • Premium/ Luxury
RESEARCH METHODOLOGY
Research Methodology Market Profiling Data Analysis Data Collection Data Validation Developing List of Respondents Formulating Questionnaire In-depth secondary research was conducted to determine top players in Saudi Arabia office furniture market, overall market size and segmental market size. The data was scrutinized using MS-Excel, statistical tools and internal proprietary database to obtain qualitative and quantitative insights about Saudi Arabia office furniture market. Data obtained as a result of primary and secondary research was validated through rigorous triangulation. TechSci conducted interviews with industry experts and industry players for data collection and verification. In order to conduct industry experts’ interviews, TechSci formulated a detailed discussion guide. List of industry players and industry specialists was developed. Actionable Insights Data Filter & Analysis Business Solution Research & Intelligence Data Collection Primary Research Desk Research Company Analysis • Recent Developments • Market Changing Aspects/Dynamics • Government Policies • Conclusion • Market Participants • Key Strengths • Identifying Key Opinion Leaders • Questionnaire Design • In-depth Interviews Primary Research Secondary Research Paid Sources • LinkedIn • TechSci Internal Database • Company Websites • Company Annual Reports • White Paper Study • Financial Reports • Investor Presentations • Regulatory Body • Associations, etc. • Factiva • Hoovers
Research Methodology Baseline Methodology Our dedicated team of industry experts has monitored and analyzed various aspects of Saudi Arabia office furnituremarket. The team has analyzed the outlook of various segments of this market, while considering the major influencing factors such as growing demand for office furniture sets. The study includes market forecasting, which would enable our clients to take better decisions while planning their strategy to achieve sustainability in Saudi Arabia office furniture market. Methodology Followed for Calculation of Market Size: • Market Size by Value: Market size, in terms of value, for the year 2020 was calculated based on information collected through exhaustive secondary research and primary surveys, with various key opinion leaders/stakeholders, such as office furniture companies, channel partners, end-user industry experts, and other industry participants. • The team interviewed more than 15-20 office furniture market companies, 100 – 120 end use industries, and 15 – 20 industry experts and other value chain stakeholders in Saudi Arabia office furniture market to obtain the overall market size for 2016-2020, which was validated by the Delphi technique. Taking standard deviation into consideration, the market size was averaged out, to arrive at the market size data for 2016-2020.
Research Methodology • Respondents were asked about the current and future market growth rates, market shares by product type, by raw material, by price range, by distribution channel, by region and by company. Removing the outlier responses, the geometric mean of growth estimates and provider wise revenue shares generated across various segments were considered, to arrive at the final revenue shares. Revenue shares generated across various segments were further triangulated from other stakeholders. Methodology Followed for Calculation of Market Shares: • Market shares by product type, by raw material, by price range, by distribution channel, by region and by company were calculated based on the responses received through primary surveys with industry experts, in which the respondents were asked about the market shares or revenue generated from various segments of office furnitures market. The final shares were calculated by taking the geometric mean of the responses gathered from key opinion leaders after eliminating the outliers. Methodology Followed for Forecasting: • TechSci Research performed periodical checks on data collected through the surveys with logic checks and analyzed the survey results in SPSS/Tableau Software. • Data triangulation techniques were applied to fill the gaps and to present a more meaningful picture of the market. To forecast Saudi Arabia office furniture market, TechSci Research used various forecast techniques such as: Moving Average Time Series Analysis Regression Analysis Econometric and Judgmental Analysis
Research Methodology TechSci Research used its own forecast tool, which is based on the growth of various allied industries in respective regions. TechSci Research also used the impact analysis during short, medium and long- term period to estimate and analyse market demand scenario. It should be noted that the figures compiled are only for the organized market including market share data. © TechSci Research
Industry Brief Surging demand for the aesthetically pleasing office furniture is driving the growth of Saudi Arabia Office furniture Market, in the forecast period, 2022-2026. According to TechSci report on, “Saudi Arabia Office Furniture Market By Product Type (Chairs, Desks, Filing Cabinets & Lockers, Others (Workstations, Conference Tables, etc.) By Raw Material (Wood, Metal, Plastic, Others (Bamboo, Cane, etc.)) By Price Range (Mass, Premium/ Luxury) By Supply (Domestic, Imported) By Distribution Channel (Exclusive Showrooms, Supermarkets/Hypermarkets, Online, Others (Furniture Retail Outlets, Traditional stores, etc.) By Region, Competition Forecast & Opportunities, 2026”, Saudi Arabia office furniture market has shown promising growth in historical years until 2019 and is expected to continue its growth in upcoming forecast years 2021 to 2026. Saudi Arabia office furniture market owes its growth to the factors like rapidly increasing demands for the advanced furniture for the office complexes. The infrastructure dedicated to the office complexes and commercial sectors is multiplying rapidly and supporting the growth of the market in the upcoming five years. Moreover, urban infrastructure development, industrialization and increased demand for the aesthetic furniture promoting modern office furniture is further driving the growth of the Saudi Arabia office furniture market in the next five years. Additionally, growing demand from the non-residential sectors and government’s favorable policies are further expected to support the growth of the Saudi Arabia office furniture market in the future five years of forecast. Also, rising disposable income among the population and commercial sectors is influencing the growth of the Saudi Arabia office furniture market in the forecast period, until 2026. The Saudi Arabia office furniture market is segmented by product type, raw material, price range, supply, distribution channel, competitional landscape, and regional distribution. Based on raw material, the market is further segmented into wood, metal, plastic, others (bamboo, cane, etc.). Wood is anticipated to hold the largest revenue shares of the market and dominate the market segment on the account of age old traditions of having wooden furniture. Technological advancement like engineered wood usage for the manufacturing of prolonged life furniture and sophisticated pieces that are aesthetically pleasing for the population. Based on supply, the market is further bifurcated into domestic, and imported. Domestic supply for the office furniture is anticipated to register maximum revenue shares of the market and dominate the market on the account of rising number of market players in the country. Moreover, the demand for the office furniture has multiplied in the recent years owing to the increasing number of office complexes in the country thereby supporting the growth of the market in the upcoming five years. Based on product type, the market is further bifurcated into chairs, desks, filing cabinets & lockers, others (workstations, conference tables, etc.). Chairs and desks are anticipated to hold the larger revenue shares of the market and dominate the market segment on the account of rising demand for office furniture as well as rapidly increasing office infrastructure. A partial list of market player in the Saudi Arabia office furniture market includes Midas International General Trading Company, Saudi Modern Factory Co., Al Sharq Furniture Est, Habitat Furniture Co Limited, Riyadh Furniture Industries Company (RFI), Saudi Arabia, Gautier Furniture, AL Rugaib Furniture, Advanced Office systems Factory Ltd Co, Jedaie Office Furniture, WardehSalehiya Est., El-Ajou Group, Home Center (Retail World Limited), IKEA - Saudi Arabia, Al Abdulkader Furniture Co. Ltd., Arabian Furniture and Design Company (Hermann Miller), among others. These market players hold larger shares of the market than the new market players. With the evolving technology, it is appropriate to say that the effective research and development of the technologically advanced instruments and methods to satisfy consumer demands would support the market growth and benefit the market players as well as the consumers. New market players may focus on the research and development to provide such products and services that satisfies the consumer demand as well as benefits the market players in building their brand value. Other competitive strategies include mergers & acquisitions and new product developments. “Growing e-commerce is supporting the predicted growth of the Saudi Arabia office furniture market in the next five years. Due to the recent pandemic situation, the e-commerce sector has expanded more. Consumers are loving the idea of sitting at home and shopping all sorts of products in retail at their fingertips. New market players may focus on the research and development of the better raw material for the furniture manufacturing. Technological advancements are going to support their brand establishment and expand the market in future five years,” said Mr. Karan Chechi, Research Director with TechSci Research, a research based global management consulting firm.
Sample Data - Snapshot Saudi Arabia Office Furniture Market Size, By Value (USD Million), 2016-2026F Saudi Arabia Office Furniture Market Share, By Product Type, By Value, 2016–2026F Saudi Arabia Wooden Office Furniture Market Share, By Distribution Channel, By Value, 2016–2026F
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