The home office furniture is turning out to be an opportunity for furniture manufacturers in the European market. The leading manufacturers of home office furniture are currently implementing technologically advanced production processes to increase production efficacy and optimize product offerings. The wider application of information technology and home/distance working calls for larger entertainment storage units and concealed home office furniture as well as desks and shelving systems. It is estimated that around that close to 40% of those currently working in the EU began to telework full-time as a result of the pandemic. As this trend continued the demand for home office furniture is ticking up in the market. Height adjustable desks and chairs for home office are gaining traction among many European workers and countries as while working many people prefer to change their working positions from sitting to standing and vice-versa time to time. Low budget products are sold in the market by importing them (mostly chairs but also arms and other tools), or furniture pieces produced by ready to assembled furniture manufacturers in Europe. Europe's home office furniture was a net importer in the market with imports accounted for over 35% in the market. For United Kingdom home office market China as well as EU countries including Germany, Italy, France and Sweden are the min suppliers. As furniture companies and retailers are also worried about health and safety of their employees, they are promoting skeleton workers at stores, and are opting more digital option to increase sales and implementing remote working solutions thus positively influencing the market and the demand.
Key Market Trends
Increase in Demand From Work From Home People
Around 6 % of people in Europe work usually from home and the demand is further increased by the number of people working at home regularly or sometimes, a figure that is estimated around 83 million individuals in the country. With the outburst of Covid-19, the number of people working from home and telecommuting is forecasted to grow and will undoubtedly lead to a rising demand for furniture for home office spaces.
Companies are finding that workplace flexibility enables employees to work more efficiently and effectively, according to their individualized needs. This shift in more home-based employees also means consumers are needing to create at-home office spaces in spare areas or rooms in their homes.
Germany is the Largest Market Followed by United Kingdom
In Germany, demand furniture the home office with the ergonomic equipment is growing and workplaces outside the company are increasing giving more access to people work with comfort from anywhere. On the other hand, the United kingdom office and home office market had shown growth in the past few years, however, the market is competitive with manufacturers unable to raise the price, buyers are increasingly getting cost-effective options from the e-auction market making the market tough competition.
Competitive Landscape
Due to the shift in workers and expanding teleworking to remain the same for the forecast periods will lead to tough competition in the market. The number of actors willing to opt this business is expected to rise in the future and multiply like radiational manufacturers of office furniture, manufacturers of home furniture and upholstery (sometimes operating with their own/franchised retail networks), office chairs manufacturers and importers, and RTA furniture manufacturers (operating in the low budget segment).
Additional Benefits:
- The market estimate (ME) sheet in Excel format
- 3 months of analyst support
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