Between 2013 and 2023, the turnover for office furniture and shop furniture in Spain showed a mixed trajectory. After starting from a value of €1.02 billion in 2013 and experiencing minor dips in 2013 and 2014, the market gained momentum with a significant surge in turnover peaking at €1.63 billion by 2023. Noteworthy fluctuations include an 11.31% rise in 2015, an 11.35% increase in 2017, and a sharp decline of 23.71% in 2020, likely influenced by external economic factors such as the COVID-19 pandemic. However, from 2021 onwards, the market resumed an upward trend, showing a year-on-year increase of 8.27% in 2023.
Future trends to watch for:
- The forecasted CAGR from 2024 to 2028 is 1.97%, signaling cautious yet consistent growth in the market.
- By 2028, the turnover is anticipated to reach €1.85 billion, reflecting a total growth rate of 10.25% over the next five years.
- Potential drivers of growth could include technological advancements in office spaces, a shift towards eco-friendly furniture, and post-COVID economic recovery.
