The office and shop furniture production value in Belgium was 315.6 Million Euros in 2023. The value has shown a steady decline since its peak in 2015. A significant drop occurred between 2015 and 2016, with a 28.03% decrease. From 2016 to 2019, the trend somewhat stabilized, but a further decline has been recorded since 2019. The production value has exhibited erratic year-on-year changes over the past decade.
Recent variations indicate:
- Over the last two years (2022-2023), there was a decline of 4.1% year-on-year.
- From 2019 to 2023, the value decreased with a CAGR of -1.86%.
The forecast for 2024 to 2028 shows a continuous decline with an anticipated 5-year CAGR of -3.78%, leading to a projected value of 249.3 Million Euros by 2028, marking a 17.5% decrease over five years.
Future trends to watch for:
- Increased remote working and digital transformation reducing demand for traditional office furniture.
- Sustained growth in the e-commerce sector potentially boosting demand for shop and retail display furniture.
