The turnover in the repair of furniture and home furnishings sector in Germany showed significant volatility from 2013 to 2023. After starting at 169.9 million euros in 2013, it experienced significant year-on-year growth, peaking notably in 2015 and 2017 with increases of 45.77% and 8.93% respectively. The market faced declines in 2018 and 2020 with decreases of -13.25% and -11.6%. However, it rebounded with substantial growth by 2023, reaching 360.9 million euros, reflecting a 7.89% year-on-year increase. The compound annual growth rate (CAGR) from 2018 to 2023 stands at 5.73%.
Looking forward to 2028, the forecasted data anticipates continued steady growth at a 5-year CAGR of 3.56%, translating to an overall growth rate of 19.11% over the next five years. This suggests a consistent and gradual improvement in market conditions.
Future trends to watch: - Technological advancements in repair techniques and materials - Growing sustainability and circular economy trends, leading to increased demand for repair services - Potential shifts in consumer behavior post-pandemic, emphasizing home improvement and maintenance.
