Market Size of Asia-Pacific School Furniture Industry
|Base Year For Estimation
|Market Size (2024)
|USD 4.39 Billion
|Market Size (2029)
|USD 6.15 Billion
|CAGR (2024 - 2029)
*Disclaimer: Major Players sorted in no particular order
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Asia-Pacific School Furniture Market Analysis
The Asia-Pacific School Furniture Market size in terms of Equal-7 is expected to grow from USD 4.39 billion in 2024 to USD 6.15 billion by 2029, at a CAGR of 7% during the forecast period (2024-2029).
Asia-Pacific is the fastest-growing school furniture market, followed by North America and Europe. The focus of government policies and basic education access across all the countries in Asia-Pacific is expected to drive the growth of the school furniture market in the region.Asia-Pacific is the fastest-growing school furniture market, followed by North America and Europe. The focus of government policies and basic education access across all the countries in Asia-Pacific is expected to drive the growth of the school furniture market in the region.
The outbreak of the Covid-19 pandemic significantly impacted the Asia-Pacific school furniture market. With schools shutting down or moving to online learning platforms to comply with social distancing guidelines and lockdowns, the demand for school furniture has decreased. The pandemic has also disrupted the supply chain of the school furniture market, with delays in manufacturing and shipping due to lockdowns and travel restrictions. This has resulted in a shortage of raw materials and finished products, leading to increased prices and longer delivery times. The pandemic has had a negative impact on the Asia-Pacific school furniture market. Still, the market is expected to recover gradually in the coming years as schools resume in-person learning and implement measures to ensure the safety and health of students and staff.
An increase in the number of school construction and the number of students enrolled in higher education in the region may drive the market for school furniture in the developing economies of the region. According to a source, the number of students enrolled in higher education is expected to increase to 380 million in seven years, which will significantly increase the number of schools and the demand for furniture in these schools. In India and China, the number of enrolments is expected to grow continuously, as these regions have a high percentage of the young population, thus providing a lucrative opportunity for the growth of school furniture in the market. There is a surge in the demand for multifunctional and ergonomically designed seating furniture in the market to provide comfortable learning to students, which will further increase the demand for school furniture in the region. Storage furniture with multifunctional usage is gaining traction in the school furniture market. The schools in the region also prefer eco-friendly school furniture.