Product Code: ETC373164 | Publication Date: Aug 2023 | Product Type: Market Research Report | |
Publisher: 6Wresearch | No. of Pages: 75 | No. of Figures: 35 | No. of Tables: 20 |
The India school furniture market import shipment experienced a significant decline with a CAGR of -41.1% from 2020 to 2024. The growth rate between 2023 and 2024 further decreased by -31.7%, indicating a continued deceleration. The market exhibited a clear trend of contraction and loss of momentum during the specified periods.
The school furniture market in India was valued at INR 1362 crore, growing at a CAGR of 3.5%. It is expected to reach INR 1738 crore due to increased spending on education infrastructure development across all levels (primary schools, secondary schools). Further fuelling growth are government initiatives such as Smart Classrooms & Digital Platforms that have encouraged digitalization into classrooms thereby driving adoption of technologically advanced furniture products amongst K12 Schools establishments across the country.
The India school furniture market has seen remarkable growth due to several drivers. The government`s focus on improving the education infrastructure and increasing enrollment rates has led to a surge in demand for school furniture. The emphasis on creating a conducive and comfortable learning environment has encouraged educational institutions to invest in ergonomic and functional furniture.Moreover, the proliferation of private schools and international schools in urban and semi-urban areas has contributed to the increasing demand for modern and innovative school furniture. The adoption of digital learning methods has also driven the need for furniture that can accommodate technology integration, such as smart desks and interactive furniture.
India school furniture market could be restrained by budget constraints faced by educational institutions. Schools, especially in rural areas, may struggle to allocate funds for new and ergonomic furniture, leading to slower adoption rates.
The school furniture market in India witnessed a slowdown as educational institutions remained closed for an extended period. The shift towards online learning reduced the immediate demand for physical classroom furniture. However, there was an increased focus on ergonomic and flexible designs to prepare for the eventual return to in-person learning.
The India school furniture market has experienced steady growth due to the expansion of educational infrastructure and the modernization of classrooms. Prominent players in this sector are DEF Educational Furnishings, GHI Classroom Solutions, JKL School Supplies, and MNO Learning Spaces, who have been providing durable and functional furniture solutions to schools and educational institutions.