The American Demand for Office Furniture and Trends
The American office furniture industry performed very well throughout the 1990s as the domestic economy has shifted from being manufacturing driven to one where services play an increasingly important role.
However, the new millennium has been less fortunate for office furniture manufacturers. Between 2000 and 2003, office furniture shipments in the United States fell by more than one-third. This was the largest decrease in shipments for over 20 years. The market has since recovered a bit reaching a value of $10,070 million in 2005, but this is still more than $ 3,000 million below the 2000 peak level.
Office employment growth climbed only an estimate 1.8 percent this year. Next year may see another modest increase of 1.0 percent. In the years after 2007, we anticipate office employment to advance at rates in the 1.7 to 2.0 percent range.
Due to the relatively weak employment market in officer intensive industries, office furniture sales will only hover around the 5 percent growth mark in the next few years. In current dollar terms, growth will be 1.5 to 2.0 percent higher than this.
Wood office furniture accounted for $2,723 million of the total market for office furniture, or 27.0 percent in 2005. During the past ten years it fluctuated between 21.9 percent in1998 and 27.0 percent in 2005. Given the relatively more expensive nature, wooden office furniture is more likely to gain market share when corporate earnings are strong rather than during periods of fiscal constraint.
As of 2005 Systems represented the largest market segment at over $2,600 million, or 28.8 percent of the total. Over the period 1995 to 2005 this segment declined by 11.7 percent, compared to an average growth of 6.7 percent for the total office furniture industry. The fastest growing segment was storage furniture which increased 50.2 percent over the last 10 years. Tables (up 31.2 percent), seating (up 12.7 percent), and desks (up 11.8 percent) also outpaced the overall office furniture industry. In sharp contrast, the filing cabinet segment grew by only 3.2 percent between 1995 and 2005 as technology continues to transform office environments, reducing the relative demand for paper storage.
California is by far the largest furniture market in the USA. As of 2005, this state accounted for more than $1,200 million of the total market, followed by Texas ($755 million), New York ($635 million), and Florida ($592 million). These four states collectively account for $3,182 million -- or more than 30% -- of the entire US market in 2005.
Stefan Wille
\r AKTRIN Furniture Information Center
\r Web: American Office Furniture Market Statistics (http://www.furniture-info.com/105.htm)
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