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The apparent UK market for office furniture was
worth an estimated £1.25bn in 1999. Growth has been slow, with sales
rising by just 8.2 percent since 1995. While the rise in UK manufacturers' sales has
been weak during this period, the value of goods exported has grown rapidly,
with exports to markets outside the European Union (EU) being particularly
strong. Imports, which have also increased, retain a higher value than exports.
Nevertheless, the trade deficit has fallen from £38.9m in 1995 to
£34.2m in 1999.
The market comprises systems furniture and desking,
tables, seating, floor and desk screens, filing cabinets, drawer cabinets,
storage cupboards and a range of accessories. Customers range from buyers of
high-value, bespoke furniture made for prestige offices, to purchasers of
low-value, flat-pack,
do-it-yourself (DIY) assemblies for the home or small
business office. The majority of sales comprise fully-assembled furniture and
ancillary equipment in the middle to lower price ranges. Clients are large,
medium and small commercial and industrial businesses; government and local
authority departments; trade associations; educational, scientific and military
establishments; and any other organisation that has need of an office.
Although the industry is large, with a very wide customer base, the products
made are very long-lasting and, even when eventually replaced, may be sold on
the second-hand market. Affluent companies and organisations tend not to buy
second-hand, except possibly when good-quality office furniture becomes
available from companies that are downsizing or made bankrupt. This reduces the
need to buy new furniture and can depress the market.
Unfavourable economic
conditions frequently cause potential customers to defer purchases. Conversely,
an upturn in the economy, or the anticipation of an upturn, can generate new
office construction, more tenants, and refurbishment in existing buildings.
Unfortunately, the latter has not been fully realised in recent years as,
despite increasing prosperity, occasional setbacks in the financial and
industrial markets have caused the postponement of some major investments.
Technological change and the requirement for greater flexibility in office
layouts will create a strong need for new, purpose-built office furniture.
There is likely to be less compromise as older furniture becomes unsuitable and
replacement cycles may become shorter. New office construction for financial
services is still growing in some of the UK's major cities, and there is heavy
demand from the rapid expansion of call centres. These centres need
specially-designed furniture and seating that is capable of withstanding
continuous use, by shift workers, every day of the year.
An unknown factor
in anticipating future office requirements is the extent to which home working
will affect demand for office furniture. Fewer desks and chairs may be required
for permanent staff, as more facilities are shared. Electronically-held records
may eventually reduce demand for paper storage, in which case, the requirements
for office space may also fall.
Key Note forecasts relatively moderate
growth between 2000 and 2004, the value of the apparent UK market rising by
11.4 percent to reach £1.4bn in 2004.
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Text © 2000 Key Note
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