Recycled Office Furniture Market: Introduction
- Recycled office furniture refers to furniture used by offices which have been removed from the solid waste stream for recycle and reuse after repairing and replacement of some parts. Several large companies or enterprises spend a significant amount of money on office interiors, including lighting to the furniture to create an employee-friendly work environment.
- The global recycled office furniture market is anticipated to grow at a significant pace in the coming years. Several factors such as increasing office leasing activities across the globe and surge in global GDP are expected to be the driving factors for the global recycled office furniture market in future.
Key Drivers of the Global Recycled Office Furniture Market
- Increasing number of offices across the globe, boost in demand for customization of offices and growing preference for eco-friendly furniture are the major driving factors of the global recycled office furniture market.
- Recycled office furniture is becoming the furniture of choice for more and more companies due to its several benefits such as excellent cost-cutting opportunity, solid waste stream reduction, and energy conservation.
- Recycled office furniture conserves labor and manufacturing energy and also cost. The cost and energy required for remanufacturing the existing furniture is around 85% to 95% less compared to production of new furniture.
Recycled Office Furniture Anticipated to Create Attractive Opportunities in Future
- Remarkable economic development in several emerging economies across Asia Pacific, and Middle East & Africa are attracting several multinational companies which is expected to boost the demand for office furniture in these regions. This is anticipated to create lucrative opportunities for vendors involved in the recycled office furniture market in the coming years. Favorable government policies and boost in foreign investment are building a favorable environment for multinational corporations which also support market growth.
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Myths and Misconceptions Related to Recycled Office Furniture Expected to Obstruct the Market
- Several myths and misconceptions regarding recycled office furniture such as furniture quality and lower cost effectiveness is expected to hinder the overall market growth in the coming years.
North America and Europe anticipated to Dominate the Global Recycled Office Furniture Market
- North America and Europe hold major share in the global recycled office furniture market. Increasing number of businesses is increasing the requirement of office spaces and also the number of employees, which are major factors impacting the growth of the recycled office furniture market in North America and Europe.
- The market in Asia Pacific is expected to show significant growth during the forecast period. Economic development in several emerging economies is creating a suitable environment for large enterprises and companies which is expected to boost the demand for recycled office furniture. Cost effectiveness is also a major driving factor in the Asia Pacific region which is expected to encourage the demand in the coming years. Middle East & Africa is expected to show moderate growth in the market owing to high demand for new furniture products in this region.
Key Players Operating in the Global Market
The global recycled office furniture market is anticipated to be concentrated across some major manufacturers accounting for around 20%–25% market of the overall recycled office furniture market. A few of the key manufacturers operating in the global recycled office furniture market are:
- B CInteriors
- D3, Inc.
- Atlanta Office Liquidators
- BERCO DESIGNS
- PVI Office Furniture
- Recycled Office Furniture
- Columbia Office Furniture
- Creative Wood
- Office Furniture World
- Office Furniture Warehouse, Inc.
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Global Recycled Office Furniture Market: Research Scope
Global Recycled Office Furniture Market, by Product Type
- Desks & Tables
- Modular Furniture
- Storage Unit
- Others (Overhead Bins, File Cabinets, etc.)
Global Recycled Office Furniture Market, by Material Type
- Others (Glass, Fiber etc.)
Global Recycled Office Furniture Market, by Region
- North America
- Rest of North America
- Rest of Europe
- Asia Pacific
- Rest of Asia Pacific
- South America
- Rest of South America
- Middle East & Africa
- South Africa
- Rest of Middle East & Africa
This study by TMR is all-encompassing framework of the dynamics of the market. It mainly comprises critical assessment of consumers' or customers' journeys, current and emerging avenues, and strategic framework to enable CXOs take effective decisions.
Our key underpinning is the 4-Quadrant Framework EIRS that offers detailed visualization of four elements:
- Customer Experience Maps
- Insights and Tools based on data-driven research
- Actionable Results to meet all the business priorities
- Strategic Frameworks to boost the growth journey
The study strives to evaluate the current and future growth prospects, untapped avenues, factors shaping their revenue potential, and demand and consumption patterns in the global market by breaking it into region-wise assessment.
The following regional segments are covered comprehensively:
- North America
- Asia Pacific
- Latin America
- The Middle East and Africa
The EIRS quadrant framework in the report sums up our wide spectrum of data-driven research and advisory for CXOs to help them make better decisions for their businesses and stay as leaders.
Below is a snapshot of these quadrants.
1. Customer Experience Map
The study offers an in-depth assessment of various customers’ journeys pertinent to the market and its segments. It offers various customer impressions about the products and service use. The analysis takes a closer look at their pain points and fears across various customer touchpoints. The consultation and business intelligence solutions will help interested stakeholders, including CXOs, define customer experience maps tailored to their needs. This will help them aim at boosting customer engagement with their brands.
2. Insights and Tools
The various insights in the study are based on elaborate cycles of primary and secondary research the analysts engage with during the course of research. The analysts and expert advisors at TMR adopt industry-wide, quantitative customer insights tools and market projection methodologies to arrive at results, which makes them reliable. The study not just offers estimations and projections, but also an uncluttered evaluation of these figures on the market dynamics. These insights merge data-driven research framework with qualitative consultations for business owners, CXOs, policy makers, and investors. The insights will also help their customers overcome their fears.
3. Actionable Results
The findings presented in this study by TMR are an indispensable guide for meeting all business priorities, including mission-critical ones. The results when implemented have shown tangible benefits to business stakeholders and industry entities to boost their performance. The results are tailored to fit the individual strategic framework. The study also illustrates some of the recent case studies on solving various problems by companies they faced in their consolidation journey.
4. Strategic Frameworks
The study equips businesses and anyone interested in the market to frame broad strategic frameworks. This has become more important than ever, given the current uncertainty due to COVID-19. The study deliberates on consultations to overcome various such past disruptions and foresees new ones to boost the preparedness. The frameworks help businesses plan their strategic alignments for recovery from such disruptive trends. Further, analysts at TMR helps you break down the complex scenario and bring resiliency in uncertain times.
The report sheds light on various aspects and answers pertinent questions on the market. Some of the important ones are:
1. What can be the best investment choices for venturing into new product and service lines?
2. What value propositions should businesses aim at while making new research and development funding?
3. Which regulations will be most helpful for stakeholders to boost their supply chain network?
4. Which regions might see the demand maturing in certain segments in near future?
5. What are the some of the best cost optimization strategies with vendors that some well-entrenched players have gained success with?
6. Which are the key perspectives that the C-suite are leveraging to move businesses to new growth trajectory?
7. Which government regulations might challenge the status of key regional markets?
8. How will the emerging political and economic scenario affect opportunities in key growth areas?
9. What are some of the value-grab opportunities in various segments?
10. What will be the barrier to entry for new players in the market?
Note: Although care has been taken to maintain the highest levels of accuracy in TMR’s reports, recent market/vendor-specific changes may take time to reflect in the analysis.