The production value of office and shop furniture in Austria exhibited a fluctuating trend between 2013 and 2023. In 2023, the value stood at 503.3 million euros. The period saw occasional growth years, notably in 2017 and 2018, followed by a significant decline in 2020 due to external factors likely affecting demand. The year 2023 demonstrates a slight positive shift with a year-on-year increase of 2.63% from 2022. However, the overall compound annual growth rate (CAGR) for the last five years reflects a negative trend of -0.67%, indicating a slight but consistent decline.
Looking towards the future, forecasts predict a modest downturn with the CAGR expected to be -0.1% over the next five years, showing continual but slow decrease reaching 499.9 million euros by 2028.
Trends to watch for:
- The impact of increasing remote work trends on office furniture demand.
- Potential recovery or growth spurred by innovations in flexible and ergonomic furniture solutions.
- Sustainability trends influencing material choices and production processes.
- Changes in the retail environment and store layouts impacting shop furniture.
