The office furniture sector is of great importance in the Brazilian economy. With the increasing employment, new office space is being developed which is pushing the demand for office furniture. There is tough competition among the market players over the furniture quality, installations, extended warranties, portability and multi-functionality and the price of the furniture. Thus, office furniture manufacturers and the vendors are coming up with various innovations leading this market to grow substantially. The major driving factor for the growth of office furniture market are the increase in construction activities and rise in office spaces in Brazil. Thus, the growth in the economy of Brazil drives the demand for the requirement of office furniture.
Key Market Trends
Rising Start-Ups is Driving the Market
With the rising number of start-ups, the demand for office furniture is expected to increase significantly during the forecast period. The adoption of customized office furniture is on the rise as some organizations prefer interiors that match their theme and work culture. The increase in the number of start-ups lead to an obvious increase in the demand for office furniture. Increasing number of the company’s focus towards employee’s comfort in the workspace in the highly competitive world is the primary factor driving the office furniture market growth. Further, surge in number of start-ups is creating an expanding opportunity for the growth of the Brazil office furniture market.
Growing Urbanization is Driving the Market
Urbanization across the country fuelling demand for office furniture. Brazil office furniture market trends such as rapid growth in urbanisation, growing office-based sectors and others will play a significant part in the growth of the office furniture market. Rising number of start-ups and booming real estate industry in emerging economies such as Brazil have extensively raised the demand for office furniture. Factors such as, rapid urbanization and rising construction buildings are key reasons behind the increasing number of office buildings across the country. Establishment of new office buildings in urban areas is expected to be the key factor behind the growth of office furniture market during the forecast period.
The report covers major international players operating in the Brazil Office Furniture Market. In terms of market share, some of the major players currently dominate the market. However, with technological advancement and product innovation, mid-size to smaller companies are increasing their market presence by securing new contracts and by tapping new markets.
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