Contract Furniture and Furnishing Market in Europe 2018-2022
About Contract Furniture and Furnishing
Contract furniture is purchased under a written agreement involving furniture manufacturers and end-users. The end-users agree to use the furniture only for commercial purposes, for a specific time duration. The primary end-users of contract furniture are commercial sectors such as hospitality, retail stores, corporate and government offices, healthcare, and others.Technavio’s analysts forecast the contract furniture and furnishing market in Europe to grow at a CAGR of 5.73% during the period 2018-2022.Covered in this report The report covers the present scenario and the growth prospects of the contract furniture and furnishing market in Europe for 2018-2022. To calculate the market size, the report presents a detailed picture of the market by way of study, synthesis, and summation of data from multiple sources.The market is divided into the following segments based on geography:
Technavio Announces the Publication of its Research Report – Contract Furniture and Furnishing Market in Europe 2018-2022
Technavio recognizes the following companies as the key players in the contract furniture and furnishing market in Europe: Haworth, Herman Miller, Kinnarps, Knoll, and Steelcase.
Commenting on the report, an analyst from Technavio’s team said: “One trend in the market is introduction of smart furniture in offices. With the growing demand for enhancing employee-friendly workplaces, vendors in the contract furniture market are focusing on introducing smart furniture in different end-user segments including corporate offices, hospitality, retail stores and other sectors.”
According to the report, one driver in the market is high preference for contract furniture over expensive new furniture. With the global furniture market witnessing major transition in terms of technological advancements, product feature enhancements, and the use of raw materials, the demand for contract furniture has increased significantly in the recent years.
Further, the report states that one challenge in the market is fluctuation in raw material prices. Fluctuating prices of raw materials and components negatively affect the growth of the contract furniture and furnishing market in Europe. Wood particleboards, plastics, textiles, cartons, steel, timber, color paints, polish chemical materials, aluminum, and hardware are the key raw materials for furniture products. Haworth Herman Miller Kinnarps Knoll Steelcase