In Germany, the sold production of office and shop furniture has experienced fluctuations over the past decade. The value, expressed in billion Euros, has generally increased from 2013 to 2019, peaking at 3.0071 billion Euros in 2019. However, the market saw significant drops in 2020 and 2021 due to various market disruptions, including the COVID-19 pandemic, with values declining by -11.67% and -50.78% year-on-year, respectively. A strong recovery occurred in 2022, with a year-on-year increase of 127.24%, and in 2023, the market stood at 3.0767 billion Euros, up by 3.56% from the previous year.
Looking at the five-year CAGR, the market has seen a modest average variation of 0.9% per year from 2019 to 2023. Forecasts from 2024 to 2028 show a continuous, albeit slow, growth trend, with a projected five-year CAGR of 0.85% and an overall growth rate of 4.31%.
Future trends to watch for include:
- Technological advancements driving innovation in office and shop furniture design.
- Increasing demand for sustainable and eco-friendly furniture options.
- Potential market disruptions or boosts from global economic changes and consumer behavior shifts.
- The continued impact of remote working practices on office furniture demand.
