LONDON--(BUSINESS WIRE)--Technavio has been monitoring the contract furniture and furnishing market in Europe and it is poised to grow by USD 2.64 billion during 2020-2024, progressing at a CAGR of almost 3% during the forecast period. The report offers an up-to-date analysis regarding the current market scenario, latest trends and drivers, and the overall market environment.
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Impact of COVID-19
The COVID-19 pandemic continues to transform the growth of various industries, however, the immediate impact of the outbreak is varied. While a few industries will register a drop in demand, numerous others will continue to remain unscathed and show promising growth opportunities. COVID-19 will have a low impact on the contract furniture and furnishing market. The market growth in 2020 is likely to Decrease compared to the market growth in 2019.
Frequently Asked Questions:
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Based on segmentation by End-user, which is the leading segment in the market?
Based on the end-user, the hospitality and food services led the market in 2019.
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What are the major trends in the market?
The increasing number of office spaces is the major trend in the market.
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At what rate is the market projected to grow?
The market is projected to grow at a CAGR of almost 3% during the forecast period.
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Who are the top players in the market?
Brunner GmbH, Humanscale International Holdings Ltd., Haworth Inc., Herman Miller Inc., ITAB Group, KI, Kinnarps AB, Knoll Inc., Steelcase Inc., and Teknion Group are the major players in the market.
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What are the key market drivers and challenges?
The market is driven by the declining preference for new furniture. However, fluctuating labor costs and raw material prices might challenge growth.
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The market is fragmented, and the degree of fragmentation will accelerate during the forecast period. Brunner GmbH, Humanscale International Holdings Ltd., Haworth Inc., Herman Miller Inc., ITAB Group, KI, Kinnarps AB, Knoll Inc., Steelcase Inc., and Teknion Group are some of the major market participants. Although the declining preference for buying new furniture will offer immense growth opportunities, fluctuating labor costs and raw material prices are likely to pose a challenge for the market vendors. In a bid to help players strengthen their market foothold, this contract furniture and furnishing market forecast report provides a detailed analysis of the leading market vendors. The report also empowers industry honchos with information on the competitive landscape and insights into the different product offerings offered by various companies.
Technavio's custom research reports offer detailed insights on the impact of COVID-19 at an industry level, a regional level, and subsequent supply chain operations. This customized report will also help clients keep up with new product launches in direct & indirect COVID-19 related markets, upcoming vaccines and pipeline analysis, and significant developments in vendor operations and government regulations.
Contract Furniture and Furnishing Market in Europe 2020-2024: Segmentation
Contract Furniture and Furnishing Market is segmented as below:
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End-user
- Hospitality And Food Services
- Offices And Home Offices
- Retail Stores
- Institutions
- Others
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Region
- Germany
- France
- UK
- Rest Of Europe
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Contract Furniture and Furnishing Market in Europe 2020-2024: Scope
Technavio presents a detailed picture of the market by the way of study, synthesis, and summation of data from multiple sources. The contract furniture and furnishing market report covers the following areas:
- Contract Furniture and Furnishing Market Size in Europe
- Contract Furniture and Furnishing Market Trends in Europe
- Contract Furniture and Furnishing Market Industry Analysis in Europe
This study identifies the growing number of office spaces as one of the prime reasons driving the Contract Furniture and Furnishing Market growth in Europe during the next few years.
Technavio suggests three forecast scenarios (optimistic, probable, and pessimistic) considering the impact of COVID-19. Technavio’s in-depth research has direct and indirect COVID-19 impacted market research reports.
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Contract Furniture and Furnishing Market in Europe 2020-2024: Key Highlights
- CAGR of the market during the forecast period 2020-2024
- Detailed information on factors that will assist contract furniture and furnishing market growth in Europe during the next five years
- Estimation of the contract furniture and furnishing market size in Europe and its contribution to the parent market
- Predictions on upcoming trends and changes in consumer behavior
- The growth of the contract furniture and furnishing market
- Analysis of the market’s competitive landscape and detailed information on vendors
- Comprehensive details of factors that will challenge the growth of contract furniture and furnishing market vendors in Europe
Table of Contents:
Executive Summary
- Market Overview
Market Landscape
- Market ecosystem
- Value chain analysis
Market Sizing
- Market definition
- Market segment analysis
- Market size 2019
- Market outlook: Forecast for 2019 - 2024
Five Forces Analysis
- Five forces summary
- Bargaining power of buyers
- Bargaining power of suppliers
- Threat of new entrants
- Threat of substitutes
- Threat of rivalry
- Market condition
Market Segmentation by End-user
- Market segments
- Comparison by End-user
- Hospitality and food services - Market size and forecast 2019-2024
- Offices and home offices - Market size and forecast 2019-2024
- Retail stores - Market size and forecast 2019-2024
- Institutions - Market size and forecast 2019-2024
- Others - Market size and forecast 2019-2024
- Market opportunity by End user
Customer landscape
- Overview
Geographic Landscape
- Geographic segmentation
- Geographic comparison
- Germany - Market size and forecast 2019-2024
- France - Market size and forecast 2019-2024
- UK - Market size and forecast 2019-2024
- Rest of Europe - Market size and forecast 2019-2024
- Market opportunity by geography
- Market drivers
- Market challenges
- Market trends
Vendor Landscape
- Overview
- Landscape disruption
- Competitive Scenario
Vendor Analysis
- Vendors covered
- Market positioning of vendors
- Brunner GmbH
- Humanscale International Holdings Ltd.
- Haworth Inc.
- Herman Miller Inc.
- ITAB Group
- KI
- Kinnarps AB
- Knoll Inc.
- Steelcase Inc.
- Teknion Group
Appendix
- Scope of the report
- Currency conversion rates for US$
- Research methodology
- List of abbreviations
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