ITALY – Europe, the world’s second-largest furniture market with a consumption value of EUR 106 billion, remains a key player in global production and trade. However, according to a recent CSIL report, the sector faced significant challenges in 2024, with most countries showing negative performance trends.

Germany and France are particularly impacted, grappling with weak consumer spending and a downturn in construction.

Spain stands out with continued growth in residential construction, while Eastern European countries, including Poland, are also feeling the effects, although Poland shows modest growth in its furniture sector.

Despite these challenges, the CSIL report highlights the sector’s resilience, remaining above pre-pandemic levels, supported by strong internal cohesion and a concentrated trade network. Europe’s ongoing openness to global markets strengthens its position as a key hub in international trade.

The region’s GDP growth remains subdued, with projections of 1.7% growth in both 2024 and 2025. While goods prices have stabilized, inflation in services remains high due to rising wages.

Looking ahead, CSIL forecasts that furniture demand will remain almost stagnant in 2025, with slight improvements expected in the medium term, driven by easing inflation, lower interest rates, and potential wage growth. However, the report notes that forecasts are subject to high uncertainty due to the volatile economic and geopolitical environment.

CSIL’s report The Furniture Industry in Europe provides key statistics and insights to analyze the European furniture market, including historical trends, market potential, forecasts, segment data, competitiveness factors, and profiles of the largest companies.

For a detailed description, please visit the page https://www.worldfurnitureonline.com/report/thefurniture-industry-in-europe .