Office furniture shrinks to 30% of 2008 peak year
From among furniture market segments, the office one has caused companies the biggest headaches in recent years, with the industry gradually declining and reaching just 30% of the level of peak year 2008, reads BUSINESS CONSTRUCT magazine in its May edition.
From among furniture market segments, the office one has caused companies the biggest headaches in recent years, with the industry gradually declining and reaching just 30% of the level of peak year 2008, reads BUSINESS CONSTRUCT magazine in its May edition.
As the few companies that decided to relocate took their old furniture with them, firms specialising in office furniture production or import have had few resources available to preserve their business.Since the crisis onset in 2008, the market continued operating from inertia for some time on existing projects, but once it started the decline has not halted.
One of the most dynamic segments of the furniture market once, the office niche started declining in 2009, hitting 50m euros that year and 40m euros or less in 2010, in line with companies’ estimates. 2008 was the best year for players in this industry, with the market reaching 100m euros.
Today, companies are rather waiting for year 2012, expecting the market to hit the bottom in 2011.
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