More People in the Office Boosts Office Furniture Industry
Research and Markets has offered their latest industry report: the Office Furniture Market Report. This was started in 2006.
This was made to specifically cater to the growing industry of office furniture. This was spurred by their first report stating that the market for office furniture in the UK, including imports and exports, was estimated to be worth PS908.3m in 2005, at manufacturers’ selling prices (msp). This is a 1.3 percentage increase from the previous year.
This meant that there is a rise in office occupancy in the UK, particularly in central London. This revelation is believed to boost the office furniture market. There will be an increasing demand for office furniture because of the rising occupancy.
The office furniture sectors that will probably benefit from this rise in office occupancy include: upholstered swivel seating; wooden desks, which includes all types of desking with wood or fibreboard worktops; other wooden furniture, including mobile pedestals, display units, shelves, racking, screens, panels, cupboards, bookcases and cabinets; metal cupboards and filing cabinets; and other metal furniture, which includes high-level shelving and storage units, screens, panels, display stands, mobile pedestals, two-drawer cabinets, desks with metal worktops, metal tables and trolleys.
It has been included in the report that jobs in the service industries market comprise the 69 percent of the total business workforce. This has caused the greater demand for office furniture.
Research and Markets’ report also stated that trends in the use of technology and in working practices have affected the choice of office furniture. This is the reason why firms opt for smaller desks and other space-saving furniture as they adopt flat screen computers, and less bulky office equipment. Therefore, office furniture needs to be adaptable to allow for changes in the size of the workforce, and in the choice of office equipment.
For the concern of office furniture manufacturers, it has been noted that there is a competitive pressure from Europe and the entry of low-cost furniture, particularly office chairs, from China has restricted the ability of manufacturers to raise their prices. However, some price increases have been inevitable due to the large rises in costs of raw materials.
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