The U.S. wood office furniture market rose to $3.9 billion in 2019, increasing by 2.4 percent over the previous year, according to a report from IndexBox. This figure reflects the total revenues of producers and importers, excluding logistics costs, retail marketing costs, and retailers' margins, included in the final consumer price.
IndexBox published a new report, U.S. Wood Office Furniture Market, Analysis and Forecast to 2025.
The market value increased at an average annual gain of 2.8 percent from 2013 to 2019. The trend pattern remained consistent, with only minor fluctuations being observed in certain years.
In value terms, wood office furniture production totaled $2.8 billion in 2019. The total output value increased at an average annual rate of 1.3 percent from 2013 to 2019. The pace of growth appeared the most rapid in 2015 with an increase of 7.6 percent year-over-year. As a result, production reached a peak level of $2.8 billion. Afterward, it flattened into 2019.
In 2019, the amount of wood office furniture imported into the U.S. expanded 6.3 percent over the previous year's figure. Over the period under review, total imports indicated a strong expansion from 2013 to 2019: its volume increased at an average annual rate of 5.5 percent over the last six-year period.
In value terms, Canada ($390M), China ($347M) and Mexico ($45M) appeared to be the largest wood office furniture suppliers to the U.S., with a combined 74 percent share of total imports, according to the report. Taiwan, Viet Nam, Malaysia, Germany, Lithuania, Italy and Portugal lagged somewhat behind, together comprising a further 19 percent.
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