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The chair market is estimated to grow at a CAGR of 6.25% between 2022 and 2027. The size of the market is forecast to increase by USD 14,196.62 million. The growth of the market depends on several factors, including the health-related benefits of using gaming chairs, growing work-related stress and the need for stress-relieving solutions, and the proliferation of technologically advanced massage chairs.
This report extensively covers market segmentation by distribution channel (offline and online), type (regular use chairs, office chairs, massage chairs, gaming chairs, and others), and geography (APAC, North America, Europe, South America, and Middle East and Africa). It also includes an in-depth analysis of drivers, trends, and challenges. Furthermore, the report includes historic market data from 2017 to 2021.
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The reports categorize the global chair market as a part of the global leisure products industry within the global household durables market. The parent market, the global leisure products market, covers a variety of categories, including sports equipment, musical instruments, camping equipment, recreational vehicles, bicycles, toys, and other consumer-oriented games. Our research report has extensively covered external factors influencing the parent market growth during the forecast period.
The growing work-related stress and the need for stress-relieving solutions are notably driving the market growth, although factors such as uncertainty in the prices of raw materials may impede the market growth. Our researchers analyzed the data with 2022 as the base year, along with the key drivers, trends, and challenges. A holistic analysis of drivers will help companies refine their marketing strategies to gain a competitive advantage.
Key Chair Market Driver
The growing work-related stress and the need for stress-relieving solutions are notably driving the market growth. Many studies have demonstrated that work stress is the primary cause of health issues like obesity, high blood pressure, depression, poor circulation, and anxiety. People are becoming more health conscious, actively seeking solutions, and taking action to relieve pain and stress due to the alarming rise in such health disorders. As a result of the health advantages connected with utilizing them, the demand for health and fitness products like massage chairs is rising.
Massage chairs stimulate blood circulation, relieve pain, allow muscles to relax, and release feel-good hormones such as endorphins and serotonin, which promote relaxation and calm the mind. Massage chairs also help to relax tired muscles, relieve nerve and muscle pain, and relieve tense muscles. The demand for such health and fitness products is likely to drive the revenue of the market during the forecast period.
Significant Chair Market Trend
The emergence of ergonomic gaming chairs is the primary trend in the market. In order to lessen discomfort and muscular tension that the user may encounter when gaming, the ergonomic gaming chair is made to fit a more natural hand and sitting position. It enables the user to play for extended periods of time in comfort and prevents risks like herniated lumbar discs brought on by poor posture and prolonged sitting. Traditional seats might make your arms and back muscles hurt.
Ergonomic gaming chairs allow gamers to lean back and rest their postural muscles as they recover from long periods of gaming. Some ergonomic gaming chairs have swivel and recline features, seat side control and a neck pillow to help gamers sit in a relaxed position. As such features increase the demand for gaming chairs among individual gamers, vendors are encouraged to develop such chairs. Therefore, the emergence of ergonomic gaming chairs is expected to positively impact the market during the forecast period.
Major Chair Market Challenge
One of the major operational challenges of the market is the uncertainty of raw materials and production costs. Steel, wood or similar items, and aluminum are the three main raw materials used in the creation of furniture. Manufacturers' and retailers' profit margins are significantly impacted by changes in the price of raw materials and components. Steel, plastic, textiles, chipboard, and cardboard are now more expensive as raw materials.
The price of chipboard has also increased due to the instability of input and transportation costs and the continuous decline in the production capacity of furniture manufacturers. In the past, the profit margins of market competitors were negatively affected when the gap between the increase in production costs and the ability of sellers to increase their output in the market narrowed. All these factors adversely affect the profitability of the market, leading to a slowdown in growth. Such factors are expected to hinder the growth of the market during the forecast period.
Key Chair Market Customer Landscape
The report includes the adoption lifecycle of the market, covering from the innovator’s stage to the laggard’s stage. It focuses on adoption rates in different regions based on penetration. Furthermore, the report also includes key purchase criteria and drivers of price sensitivity to help companies evaluate and develop their growth strategies.
Global Chair Market Customer Landscape
Vendors are implementing various strategies, such as strategic alliances, partnerships, mergers and acquisitions, geographical expansion, and product/service launches, to enhance their presence in the market.
Corsair Gaming Inc. - The company offers chairs such as TC70 gaming chairs, TC200 gaming chairs, and T3 rush gaming chairs under the gaming and creator peripherals segment. This segment includes high-performance gaming keyboards, mouse, headsets, controllers, and gaming gear including capture cards, Stream Decks, USB microphones, studio accessories, and EpocCam software, as well as coaching and training services, among others.
The report also includes detailed analyses of the competitive landscape of the market and information about 15 market vendors, including:
Qualitative and quantitative analysis of vendors has been conducted to help clients understand the wider business environment as well as the strengths and weaknesses of key market players. Data is qualitatively analyzed to categorize vendors as pure play, category-focused, industry-focused, and diversified; it is quantitatively analyzed to categorize vendors as dominant, leading, strong, tentative, and weak.
The market share growth of the offline segment will be significant during the forecast period. Chairs are largely sold through different offline channels such as specialty stores, dealers, hypermarkets, supermarkets, brand-owned retail stores, and department stores. These organized retail formats help in generating a significant part of the revenue for the market.
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The offline segment was valued at USD 23,934.12 million in 2017 and continued to grow until 2021. Vendors are directing their sales through local retail entities to drive sales through offline channels. They are also driving sales by implementing different marketing strategies. For instance, Johnson Health Tech and Family Inada Co. Ltd. have many retail stores to maintain their relations with major enterprises engaged in the regional distribution of chairs. These partnerships and alliances help in the proper showcasing of products and help vendors in studying the market, which aids in catering to region-specific demands.
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APAC is estimated to contribute 40% to the growth of the global market during the forecast period. Technavio’s analysts have elaborately explained the regional trends and drivers that shape the market during the forecast period.
Key countries contributing to the growth of the region include China, Japan, India, and Taiwan. The region is likely to witness the highest growth rate during the forecast period, which is attributable to high vendor support, availability of relatively cheap labor, and low-cost manufacturing locations. Increased promotional activities to generate awareness regarding the health and wellness products, such as massage chairs, are encouraging prospective customers to visit stores.
Furthermore, massage chairs are widely popular in countries such as Japan and China, which is also likely to contribute to the overall growth of the market in focus during the forecast period.
In 2020, the growth of the chair market slowed down due to the outbreak of COVID-19, and there was a decline in the sales of chairs in APAC. However, to recover from the slump, companies made investments in this region to seize growth opportunities in key markets. The increase in spending across industries will boost the market growth in the region during the forecast period.
The report forecasts market growth by revenue at global, regional & country levels and provides an analysis of the latest trends and growth opportunities from 2017 to 2027. The market has been segmented by Distribution Channel (Offline and Online), Type (Regular use chairs, Office chairs, Massage chairs, Gaming chairs, and Others), and Geography (APAC, North America, Europe, South America, and Middle East and Africa).
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Chair Market Scope |
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Report Coverage |
Details |
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Page number |
167 |
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Base year |
2022 |
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Historic period |
2017-2021 |
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Forecast period |
2023-2027 |
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Growth momentum & CAGR |
Accelerate at a CAGR of 6.25% |
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Market growth 2023-2027 |
USD 14,196.62 million |
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Market structure |
Fragmented |
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YoY growth 2022-2023(%) |
5.84 |
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Regional analysis |
APAC, North America, Europe, South America, and Middle East and Africa |
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Performing market contribution |
APAC at 40% |
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Key countries |
US, China, Germany, France, and UK |
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Competitive landscape |
Leading Vendors, Market Positioning of Vendors, Competitive Strategies, and Industry Risks |
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Key companies profiled |
Ace Casual Furniture, AKRacing America Inc., Arozzi North America, Bristol Technologies Sdn Bhd, Corsair Gaming Inc., DXRacer USA LLC., Haworth Inc., HNI Corp., Impakt S.A., Kimball International Inc., MillerKnoll Inc., Okamura Corp., Pro Gamersware GmbH, Secretlab SG Pte. Ltd., Steelcase Inc., Thermaltake Technology Co. Ltd., ThunderX3, TOPSTAR GmbH, True Innovations, and Vertagear Inc |
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Market dynamics |
Parent market analysis, Market growth inducers and obstacles, Fast-growing and slow-growing segment analysis, COVID-19 impact and recovery analysis and future consumer dynamics, and Market condition analysis for the forecast period. |
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Customization purview |
If our report has not included the data that you are looking for, you can reach out to our analysts and get segments customized. |
We can help! Our analysts can customize this report to meet your requirements. Get in touch
1 Executive Summary
2 Market Landscape
3 Market Sizing
4 Historic Market Size
5 Historic Market Size
6 Five Forces Analysis
7 Market Segmentation by Distribution Channel
8 Market Segmentation by Type
9 Customer Landscape
10 Geographic Landscape
11 Drivers, Challenges, and Trends
12 Vendor Landscape
13 Vendor Analysis
14 Appendix
Research Framework
Technavio presents a detailed picture of the market by way of study, synthesis, and summation of data from multiple sources. The analysts have presented the various facets of the market with a particular focus on identifying the key industry influencers. The data thus presented is comprehensive, reliable, and the result of extensive research, both primary and secondary.
INFORMATION SOURCES
Primary sources
Secondary sources
DATA ANALYSIS
Data Synthesis
Data Validation
REPORT WRITING
Qualitative
Quantitative
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