Germany Office Furniture - Market Share Analysis, Industry Trends & Statistics, Growth Forecasts 2020 - 2029

Germany Office Furniture - Market Share Analysis, Industry Trends & Statistics, Growth Forecasts 2020 - 2029

The Germany Office Furniture Market size is estimated at USD 2.9 billion in 2024, and is expected to reach USD 3.29 billion by 2029, growing at a CAGR of 2.52% during the forecast period (2024-2029).

In total, the current account surplus will shrink to only USD 151 in current year. Compared with USD 286 bn in pervious year, this is almost half the figure and by far the largest difference over the entire time series. The decline of around USD 135 bn is historically at best comparable with the change in the current account balance after reunification. Germany withstood the devastating economic effects of the COVID-19 pandemic better than any of its EU neighbors.

Germany is a key player in the furniture sector at a world level. The industry is recording a stable upward trend for many years. The main growth drivers here were office swivel chairs for health-promoting seating. The most important reason for this is the support of new work forms through suitable work environments. At the same time, demand for ergonomic equipment for home offices and other workplaces outside of the company locations is increasing. The exports of German office furniture are also on the rise significantly. Sales on the overseas market increased by almost 5.9%, with office swivel chairs for healthy seating among the top product-selling categories.

Demand from Italy, the Benelux nations, and Eastern Europe developed strongly in addition to the primary export markets of France, the Netherlands, Austria, and Switzerland. Home offices and other workplaces outside of corporate buildings increasingly need ergonomic furniture. Industry insiders attribute a significant portion of the sustained high demand for newly built office workspaces to digitization. These factors are projected to stimulate the office furniture market in the following years.

Germany Office Furniture Market Trends

Increase in Office Spaces and Commercial Construction is Driving the Market

The growth of the Germany office furniture market is well complemented by the rising demand for office spaces coupled with the growth of the commercial sector. Sectors such as IT and ITeS, consulting, retail, and e-commerce are witnessing high demand for office spaces, and these growing office spaces will boost the office furniture demand. Apart from this, the expansion of multinational companies is increasing the demand for new office products. Increased start-ups are creating an expanding opportunity for the growth of the office furniture market.

Raising Number of Employees is Driving the Market for Office Furniture

Germany office furniture market is expected to flourish and account for a leading share of the office furniture market during the forecast period. The demand for office furniture is increasing due to the number of office spaces and employees. It is, thus, supplementing the growth of the Germany office furniture market during the forecast period. The growing number of various industries and the rising number of employees are key factors anticipated to fuel the growth of the office furniture market. A rapidly growing multinational company with a rising working population base is resulting in rising penetration of office furniture. The swivel chair segment is expected to occupy the top position in the office furniture market. The growing preference for customized furniture to support employees' comfort and boost efficiency is expected to impact the overall market growth positively.

Germany Office Furniture Industry Overview

The report covers major international players operating in the Germany Office Furniture Market. Regarding 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 tapping new markets. Its major players include Vitra, VS, Sedus, Dauphin Group, Wilkhahn Group, etc.

Additional Benefits:

• The market estimate (ME) sheet in Excel format
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