ITALY - In its recent study ‘Top 200 Furniture Manufacturers Worldwide’, CSIL listed the largest companies in terms of furniture turnover.

This group of companies produces a total turnover of around USD 180 billion, of which nearly USD 120 billion, according to CSIL estimates, is related specifically to the furniture sector.

The concentration ratio of the Top 200 furniture manufacturers in the world furniture industry has continued to increase in the last years, reaching more than 20% of world furniture production. The average company’s size in terms of total turnover has also increased, with differences across different geographical areas.

The total turnover of the Top 200 furniture manufacturers increased by over 30% from 2017 to 2022 (more than compensated for the pre-pandemic level). The trend indicates that the growth of the Top 200 companies was higher than that of the sector in terms of sales.

The Top 200 are spread all over the world. They have headquarters in 30 countries. Regarding furniture turnover, top companies from Asia and the Pacific account for nearly 40% of the total furniture turnover generated by the top 200 companies. European and Americas companies account for 30% each.

Preliminary results show that in 2022, the Top 200 companies maintained the same level as in 2021, whereas world furniture production decreased by 3%. Their performances differ accordingly to the geographical areas and the furniture segments. Asian manufacturers have grown impressively over the last five years. European players have shown promising results, particularly in 2021 (surpassing the pre-pandemic level). North American manufacturers experienced significant development in 2019 and stabilized in 2021.

Regarding furniture segments, the most dynamic manufacturers belong to the kitchen and upholstered furniture segments, which have continued to grow in the period considered. Office furniture manufacturers showed a significant drop in 2020 and a slight increase in 2021 without reaching the pre-pandemic level.