ITALY - According to CSIL’s new report, “The contract furniture and furnishings market in Europe” published in march of this year, the production of contract furniture and furnishings in Europe is worth about € 10 billion and it is continuously improving its performance driven by all the main segments, contract furniture among them.

With different dynamic across different destination segments and different countries, the UK and German markets playing a key role for contract furniture. By segments the main drivers of growth in the contract furniture business are the Retail, Hospitality and the Office segments, representing over 60% of contract furniture sales made by the European companies.

Another finding of the report is how public spending is experiencing some improvement, however the effects of the austerity measures adopted in Europe are still evident and weigh on public facility construction and refurbishments.

On the competitive system side, the market has become increasingly concentrated over the last five years and the top 20 firms’ share on the European production is rising.

One of the main opportunities for the European companies involved in the contract furniture business are the extra-European projects indicated by the positive international trade balance. CSIL estimates that over 20% of local production is destined for projects in the Middle East, Asia, America, Central-Eastern Europe, Russia and North Africa.

“The contract furniture and furnishings market in Europe”, March 2018, is available for online purchase and download at https://www.worldfurnitureonline.com/research-market/the-contract-furniture-furnishings-market-europe-0058532.html