The global school furniture market is experiencing significant growth and is expected to grow substantially in the coming years. Due to industrialization,schools are inclined toward modern furniture in order to create a constructive learning surrounding.The government is also planning to spend on these suite of materials.School furniture mainly consists of benches,desks,podiums,library furniture,auditorium chairs,school lockers,computer lab chairs made of plywood,plastic,wood and others.The key players are indulged in generating a smart classroom with comfort.The upheaval in the sector are related to provide a congenial and efficacious environment to the students.
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Covid19 Scenario Analysis:
- Being a labor intended sector,it has been adversely affected and thedependency on countries likeChina, has resulted into prolonged delay of supply of raw materials.Thus, affecting GDP.
- Due to sudden shutdown of schools,manufacturers are not able to utilize the current stock.
- Post COVID19 scenario will be in favor of school furniture market as the AsiaPacific countries are expected to grow substantially.
Top Impacting Factors: Market Scenario Analysis, Trends, Drivers and Impact Analysis
For bringing advancement in the infrastructures and to incline parents,the schools are spending ceaselessly to provide the young minds with an integrated,comfortable, ecofriendly and productive learning aura.The upgraded technology has introduced furniture, which has enabled the children to fit in the classrooms and facilitates their movement and hence, encourage a good posture.As a good ambience is crucial for effective learning,hence the government and private players are investing in the development of the school furniture market.
The cozy fixtures are able to grasp the attention of parents. The key market players are involved in adding salient features to the existing products.However,the fluctuating price of wood is a restraint in its growth.
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New market trends in the school furniture market are as follows:
Introduction of modifiable chair
The launch of new school furniture with improved capabilities has led the people easily accustomed to the products.The key market players have taken adequate steps in order to standardize the product.There are chairs that can be easily molded and adjusted as per the demand.These types of variations help to identify the target market.
Fleetwood group of companies have launched such modifiable chair for students in order to provide them comfort according to their postures.
Diversification of business
The companies are indulged in expanding their business through mergers& acquisitions.The social media marketing is also a powerful tool for the market.
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Key Benefits of the Report:
- This study presents the analytical depiction of the school furniture market along with the current trends and future estimations to determine the imminent investment pockets
- The report presents information related to key drivers, restraints, and opportunities along with detailed analysis of the global schoolfurniture market share
- The current market is quantitatively analyzed to highlight the global school furniture market
- Porter’s five forces analysis illustrates the potency of buyers & suppliers in the market
- The report provides a detailed global schoolfurniture market analysis based on competitive intensity and how the competition will take shape in coming years
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