Contract Furniture and Furnishing Market in Europe: About this market Contract furniture is purchased under a written agreement, involving furniture manufacturers and end-users.
New York, Nov. 06, 2019 (GLOBE NEWSWIRE) -- Reportlinker.com announces the release of the report "Contract Furniture and Furnishing Market in Europe 2019-2023" - https://www.reportlinker.com/p03041365/?utm_source=GNW
This contract furniture and furnishing market analysis considers sales from hospitality and food services, offices and home offices, retail stores, institutions and others. Our analysis also considers the sales of contract furniture and furnishing in Germany, France, the UK, and rest of Europe. In 2018, the hospitality and food services segment had a significant market share, and this trend is expected to continue over the forecast period. Factors such as growth of different sectors under the hospitality and food services industries will play a significant role in the hospitality and food services segment to maintain its market position. Also, our global contract furniture and furnishing market report also looks at factors such as declining preference for buying new furniture, growing number of office spaces, growing demand for modern furniture in educational institutions. However, fluctuating labor cost and raw material prices and high transportation cost and freight loss, may hamper the growth of the contract furniture and furnishing industry over the forecast period.
Contract Furniture and Furnishing Market in Europe: Overview
Growing demand for modern furniture in educational institutions
Educational institutions such as schools, colleges, and universities are some of the major end-user of furniture and furnishing products. Educational institutions have limited financial budgets, which makes it a tough task for them to evolve frequently with modern furniture and furnishing products. Therefore, they prefer contract furniture and furnishing solutions over buying brand new furniture. In addition, the growing economy and increased focus on aesthetics have fueled the demand for modern furniture in schools across Europe. This demand for modern furniture is expected to grow rapidly due to the growing number of international schools with aesthetically-appealing learning centers. This will lead to the expansion of the global contract furniture and furnishing market at a CAGR of almost 6% during the forecast period.
Increased introduction of smart furniture
The concept of monitoring and controlling the furniture and furnishing products with smart devices is gaining popularity among end-users. Smart furniture offers the convenience of remote location operability through wireless technology operated by the use of the appropriate application on their smart devices. This development is expected to have a positive impact on the overall market growth.
With the presence of several major players, the global contract furniture and furnishing market in Europe market is fragmented. This robust vendor analysis is designed to help clients improve their market position, and in line with this, this report provides a detailed analysis of several leading contract furniture and furnishing manufacturers, that include Haworth Inc., Herman Miller Inc., Kinnarps AB, Knoll Inc., and Steelcase Inc.
Also, the contract furniture and furnishing market analysis report includes information on upcoming trends and challenges that will influence market growth. This is to help companies strategize and leverage on all forthcoming growth opportunities.
Read the full report: https://www.reportlinker.com/p03041365/?utm_source=GNW
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