In 2023, Italy led Europe in the number of high-growth enterprises in furniture manufacturing with 236 entities, followed by Portugal and Hungary with 202 and 119 enterprises respectively. Over the previous year, Hungary saw the most significant growth rate at 12.17%, while Italy and the Czech Republic experienced declines of -11.71% and -11.21%. Smaller countries like Norway, despite having only 3 enterprises, showed the highest growth rate at 24.57%.
Future trends to watch include sustained growth potential in emerging markets like Hungary and Romania, which may continue to gain traction. At the same time, established markets such as Italy may see more fluctuations depending on economic conditions and innovation adoption in the furniture manufacturing sector.
Top countries in Number of High Growth Enterprises in Furniture Manufacturing by Country
| # | 10 Countries | Units (Enterprises) | Last Year | YoY | 5-years CAGR | |
|---|---|---|---|---|---|---|
| 1 | 1 Italy | 236 | 2023 | -2.07% | -11.71% | View data |
| 2 | 2 Portugal | 202 | 2023 | +11.6% | +2.91% | View data |
| 3 | 3 Hungary | 119 | 2023 | +8.18% | +12.17% | View data |
| 4 | 4 Lithuania | 118 | 2023 | +5.36% | +1.41% | View data |
| 5 | 5 Romania | 73 | 2023 | +5.8% | +4.71% | View data |
| 6 | 6 Czech Republic | 48 | 2023 | -5.88% | -11.21% | View data |
| 7 | 7 Slovakia | 33 | 2023 | +3.13% | +2.62% | View data |
| 8 | 8 Latvia | 18 | 2023 | 0% | +2.38% | View data |
| 9 | 9 Norway | 3 | 2023 | +50% | +24.57% | View data |
| 10 | 10 Iceland | 3 | 2023 | 0% | -5.59% | View data |
