As of 2023, Italy leads European business expenditure on R&D in furniture manufacturing, at 79.64 million Euros, followed by Poland with 31.12 million. Noteworthy year-on-year growth in 2023 includes Poland at 8.23% and Portugal at 15.18%. Meanwhile, other countries like Italy showed marginal growth of 0.35%, with no change in Croatia. Over the last five years, countries like Portugal have demonstrated significant CAGR, indicating an increasing focus on innovation in their furniture sector.
Future trends to watch for include potential increases in R&D spending driven by sustainability and digital transformation initiatives across the European furniture industry. Countries like Poland and Portugal may continue expanding their R&D activities, striving for competitive advantages.
Top countries in Business Expenditure on R&D in Furniture Manufacturing by Country
| # | 10 Countries | Million Euros | Last Year | YoY | 5-years CAGR | |
|---|---|---|---|---|---|---|
| 1 | 1 Italy | 79.64 | 2023 | +9.82% | +0.35% | View data |
| 2 | 2 Poland | 31.12 | 2023 | +15.38% | +8.23% | View data |
| 3 | 3 Belgium | 17.64 | 2023 | +12.19% | +6.36% | View data |
| 4 | 4 Spain | 16.52 | 2021 | View data | ||
| 5 | 5 Sweden | 13.85 | 2021 | View data | ||
| 6 | 6 Finland | 12.78 | 2023 | +8.93% | +5.25% | View data |
| 7 | 7 Portugal | 10.75 | 2023 | +12.2% | +15.18% | View data |
| 8 | 8 Czech Republic | 3.29 | 2023 | +0.81% | +0.64% | View data |
| 9 | 9 Hungary | 2.05 | 2021 | View data | ||
| 10 | 10 Croatia | 1.78 | 2023 | +43.75% | View data |
