The North America School Furniture Market would witness market growth of 4.7% CAGR during the forecast period (2023-2029).
Furniture that is ergonomically designed is increasing in demand in schools. In point of fact, due to the fact that individuals start developing poor posture habits at young ages, there is a significant demand for furniture that is created ergonomically in classrooms. There are certain key factors that are driving the growth of the market. These factors include the increasing population, reforms in education in various countries, the growing importance of ergonomic furniture for students, as well as technological advancements that cater to the use of digital devices.
As a result of the increasing population, more schools and learning spaces are being constructed to accommodate the growing demand for education. Based on the projected increase in population, there will be a need to construct additional schools and educational facilities. This will result in a surge in demand for school furniture to supply these new establishments. Therefore, the increasing number of schools being constructed is expected to boost the demand for school furniture in the market.
The overall expenditure on the education sector is also increasing in the region. For instance, the U.S. Department of Education got financing from Congress in the form of budgetary resources in FY23. Additionally, the administration of Joe Biden intends to provide all children in the nation with top-notch instruction. In the upcoming years, it is anticipated that these programs will lead to an increase in the number of students. As a result, there will be a rise in the need for modern, opulent, and multipurpose school furniture in this region, which will be further spurred by the desire for eco-friendly furniture. Therefore, the regional market will experience significant growth in the coming years.
The US market dominated the North America School Furniture Market by Country in 2022, and would continue to be a dominant market till 2029; thereby, achieving a market value of $1,669.4 Million by 2029. The Canada market is poised to grow at a CAGR of 7.1% during (2023 - 2029). Additionally, The Mexico market would witness a CAGR of 6.2% during (2023 - 2029).
Based on Product, the market is segmented into Storage Units, Seating Furniture, Lab Furniture and Others. Based on Application, the market is segmented into Classroom, Library & Labs, and Others. Based on countries, the market is segmented into U.S., Mexico, Canada, and Rest of North America.
Free Valuable Insights: The Worldwide School Furniture Market is Projected to reach USD 5.7 Billion by 2029, at a CAGR of 5.8%
The market research report covers the analysis of key stake holders of the market. Key companies profiled in the report include MillerKnoll, Inc., Virco Mfg. Corporation, The HON Company (HNI Corporation), Smith System, Hertz Furniture, VS America, Inc., Paragon Furniture, Inc., Haskell Education, Marco Group, Inc. and Fleetwood Group.
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