ENGLEWOOD, CO - U.S. Office furniture production is projected to reach $10.6 billion in 2015, according to the latest Global Insight industry forecast model used by the Business & Institutional Furniture Manufacturers Association (BIFMA).
IHS estimates that U.S. office furniture production will hit $9.6 billion this year, up 2.8% from 2013.
Consumption of office furniture also is expected to increase significantly in 2014 and 2015 to $12.0 billion and $13.5 billion respectively.
As reported in Wood Products December 2013 Almanac, after a basically flat 2012, both the production and consumption of U.S. office furniture grew in 2013, with early forecasts of $9.6 billion for production, an increase of 4.1%, and $11.9 billion for consumption, a gain of 5.4%.
|
CURRENT
U.S. OFFICE FURNITURE MARKET FORECAST |
||||
|
Year
|
Production
|
% Change
|
Consumption
|
%Change
|
|
2014
2015 |
$ 9.6 billion
$10.6 billion |
+ 2.8 %
+10.4 % |
$ 12.0 billion
$ 13.5 billion |
+ 4.2%
+12.1% |
Source: BIFMA
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