Global Wooden Office Furniture Market 2024

Wooden Office Furniture Market Size

After two years of decline, the global wooden office furniture market increased by 10% to $X in 2021. The market value increased at an average annual rate of +1.1% over the period from 2012 to 2021; the trend pattern remained consistent, with somewhat noticeable fluctuations being recorded throughout the analyzed period. As a result, consumption reached the peak level of $X. From 2019 to 2021, the growth of the global market remained at a somewhat lower figure.

Wooden Office Furniture Production

In value terms, wooden office furniture production rose rapidly to $X in 2021 estimated in export price. The total output value increased at an average annual rate of +1.6% from 2012 to 2021; the trend pattern indicated some noticeable fluctuations being recorded in certain years. Over the period under review, global production hit record highs at $X in 2019; however, from 2020 to 2021, production remained at a lower figure.

Wooden Office Furniture Exports

Exports

In 2021, the amount of wooden furniture of a kind used in offices exported worldwide expanded slightly to X units, increasing by 3.8% compared with 2020. The total export volume increased at an average annual rate of +3.2% over the period from 2012 to 2021; however, the trend pattern indicated some noticeable fluctuations being recorded in certain years. The pace of growth appeared the most rapid in 2017 when exports increased by 26%. Over the period under review, the global exports hit record highs at X units in 2019; however, from 2020 to 2021, the exports failed to regain momentum.

In value terms, wooden office furniture exports rose markedly to $X in 2021. The total export value increased at an average annual rate of +2.1% from 2012 to 2021; however, the trend pattern remained consistent, with somewhat noticeable fluctuations throughout the analyzed period. As a result, the exports reached the peak and are likely to continue growth in the immediate term.

Exports by Country

China was the main exporting country with an export of around X units, which accounted for 42% of total exports. It was distantly followed by Canada (X units), Poland (X units) and Germany (X units), together mixing up a 21% share of total exports. Italy (X units), Vietnam (X units), Lithuania (X units), Sweden (X units), Malaysia (X units) and Portugal (X units) followed a long way behind the leaders.

From 2012 to 2021, average annual rates of growth with regard to wooden office furniture exports from China stood at +8.0%. At the same time, Vietnam (+18.5%), Portugal (+17.0%), Lithuania (+11.6%), Poland (+10.9%), Canada (+1.7%) and Germany (+1.2%) displayed positive paces of growth. Moreover, Vietnam emerged as the fastest-growing exporter exported in the world, with a CAGR of +18.5% from 2012-2021. By contrast, Sweden (-3.3%), Italy (-7.0%) and Malaysia (-9.2%) illustrated a downward trend over the same period. From 2012 to 2021, the share of China, Poland and Vietnam increased by +14, +3.2 and +2.2 percentage points, respectively. The shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, China ($X) remains the largest wooden office furniture supplier worldwide, comprising 32% of global exports. The second position in the ranking was held by Canada ($X), with an 8.5% share of global exports. It was followed by Poland, with a 7.2% share.

From 2012 to 2021, the average annual rate of growth in terms of value in China amounted to +5.4%. The remaining exporting countries recorded the following average annual rates of exports growth: Canada (-1.0% per year) and Poland (+10.8% per year).

Export Prices by Country

In 2021, the average wooden office furniture export price amounted to $X per unit, increasing by 9.1% against the previous year. Over the period under review, the export price, however, recorded a slight slump. The growth pace was the most rapid in 2014 when the average export price increased by 19%. As a result, the export price attained the peak level of $X per unit. From 2015 to 2021, the average export prices remained at a somewhat lower figure.

Prices varied noticeably by country of origin: amid the top suppliers, the country with the highest price was Italy ($X per unit), while Malaysia ($X per unit) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Italy (+2.8%), while the other global leaders experienced more modest paces of growth.

Wooden Office Furniture Imports

Imports

For the sixth year in a row, the global market recorded growth in purchases abroad of wooden furniture of a kind used in offices, which increased by 19% to X units in 2021. In general, imports continue to indicate a buoyant increase. The most prominent rate of growth was recorded in 2017 with an increase of 26% against the previous year. Global imports peaked in 2021 and are expected to retain growth in the immediate term.

In value terms, wooden office furniture imports skyrocketed to $X in 2021. Overall, imports saw a relatively flat trend pattern. Global imports peaked at $X in 2018; afterwards, it flattened through to 2021.

Imports by Country

The United States was the key importing country with an import of about X units, which amounted to 40% of total imports. Germany (X units) ranks second in terms of the total imports with a 5.3% share, followed by Canada (4.8%) and the UK (4.7%). South Korea (X units), France (X units), Switzerland (X units), Australia (X units), the Netherlands (X units) and the Philippines (X units) held a minor share of total imports.

Imports into the United States increased at an average annual rate of +16.5% from 2012 to 2021. At the same time, the Philippines (+17.3%), the UK (+16.3%), the Netherlands (+15.6%), Germany (+11.9%), South Korea (+11.4%), Canada (+11.3%), Switzerland (+9.2%), France (+7.3%) and Australia (+3.1%) displayed positive paces of growth. Moreover, the Philippines emerged as the fastest-growing importer imported in the world, with a CAGR of +17.3% from 2012-2021. From 2012 to 2021, the share of the United States and the UK increased by +19 and +2.2 percentage points, while the shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, the United States ($X) constitutes the largest market for imported wooden furniture of a kind used in offices worldwide, comprising 24% of global imports. The second position in the ranking was taken by Germany ($X), with a 7.3% share of global imports. It was followed by France, with a 6.9% share.

From 2012 to 2021, the average annual rate of growth in terms of value in the United States was relatively modest. The remaining importing countries recorded the following average annual rates of imports growth: Germany (+6.5% per year) and France (+4.8% per year).

Import Prices by Country

The average wooden office furniture import price stood at $X per unit in 2021, falling by -3% against the previous year. In general, the import price continues to indicate a abrupt shrinkage. The growth pace was the most rapid in 2014 when the average import price increased by 3.3%. Global import price peaked at $X per unit in 2012; however, from 2013 to 2021, import prices remained at a lower figure.

There were significant differences in the average prices amongst the major importing countries. In 2021, amid the top importers, the country with the highest price was France ($X per unit), while the Philippines ($X per unit) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Australia (-1.9%), while the other global leaders experienced a decline in the import price figures.

Source: IndexBox Platform

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