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Executive Summary

Table of Contents

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EXECUTIVE SUMMARY

The UK office furniture market was estimated to be worth £830m at manufacturers' selling prices (msp) in 1997. The industry has enjoyed significant growth in recent years, having been hard hit by the recession in the early 1990s. Nonetheless, with customers continuing to be frugal in their occupation of office space, and shifts in working practice allowing for more productive use of existing furniture, the outlook for the industry is mixed, particularly as surplus capacity continues to restrain profitability.

The market falls into three main sectors: desks and tables, seating, and storage. Desks and tables is the largest sector, accounting for around 45 percent of the market's value, with seating representing a further 30 percent. However, it is the seating sector which has shown the strongest growth, mainly as a result of new legislation which demands adjustable seating for visual display unit (VDU) operators. The storage sector has declined in value, as electronic storage media has become increasingly common.

One of the most important trends affecting the market in recent years has been the move towards home working. The advent of low-cost computer equipment and the advance in telecommunications technology have enabled many more people in professional service-based industries to work from home. At the same time, companies are increasingly outsourcing non-core business activities to temporary or contract personnel. The emphasis in the office furniture industry is, therefore, shifting away from large organisations towards smaller business units. Other changes in working practice are also having a significant effect on the industry. Concepts such as `hot desking' will result in more efficient use of existing office furniture, while also offering increased opportunities for new furniture designs.

Paradoxically, the lifespan of office furniture is providing an additional threat to the industry. The increasing number of small business customers has expanded the market for second-hand and reconditioned furniture (which generally becomes available through office refurbishment and bankruptcies). This has inevitably introduced further pricing pressures into the industry.

Key Note estimates that the market will grow by around 9 percent in 1998, as the economy continues to expand and industrial confidence returns. However, once latent demand has been satisfied, 1998 could represent the high water mark for the industry. Although market size will continue to grow, pressure on margins will increase and the intensity of competition will be manifested in higher levels of industry consolidation.

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TABLE OF CONTENTS

Executive Summary

Market Definition

INTRODUCTION

MARKET SECTORS

MARKET POSITION

MARKET TRENDS

Table 1: The Total UK Office Equipment Market at Current Prices ( percent), 1993-1997

Market Size

THE TOTAL MARKET

MARKET SECTORS

FOREIGN TRADE

Table 2: Apparent UK Market for Office Furniture (£m at msp and percent), 1994-1997

Table 3: Apparent UK Market for Office Furniture by Sector (£m at msp and percent), 1994-1997

Table 4: Apparent UK Market for Desks and Tables (£m at msp and percent), 1994-1997

Table 5: Apparent UK Market for Office Seating (£m at msp and percent), 1994-1997

Table 6: Apparent UK Market for Office Storage Furniture (£m at msp and percent), 1994-1997

Table 7: Apparent UK Market for Miscellaneous Office Furniture (£m at msp and percent), 1994-1997

Table 8: Exports and Imports of Office Furniture (£m and percent), 1994-1997

Table 9: Destination of UK Exports of Wooden Office Furniture (£m), 1995-1997

Table 10: Sources of UK Imports of Wooden Office Furniture (£m), 1995-1997

Table 11: Destination of UK Exports of Metal Office Furniture (£m), 1995-1997

Table 12: Sources of UK Imports of Metal Office Furniture (£m), 1995-1997

Table 13: Destination of UK Exports of Swivel Seating (£m), 1995-1997

Table 14: Sources of UK Imports of Swivel Seating (£m), 1995-1997

Table 15: Destination of UK Exports of Metal Office Storage Furniture (£m), 1995-1997

Table 16: Sources of UK Imports of Metal Office Storage Furniture (£m), 1995-1997

Industry Background

RECENT HISTORY

INDUSTRY CONCENTRATION

DISTRIBUTION

EMPLOYMENT

TRADE ASSOCIATIONS

TRADE EXHIBITIONS

Table 17: Size Analysis of Manufacturers of Office and Shop Furniture by Turnover (number of companies and percent), 1995 and 1996

Table 18: Size Analysis of Manufacturers of Chairs and Seats by Turnover (number of companies and percent), 1995 and 1996

Table 19: Estimated Employment in Office Furniture Manufacture (number of employees), 1993-1997

Competitor Analysis

THE MARKETPLACE

MARKET LEADERS

IMPORTERS

MAIL ORDER AND DISCOUNTERS

ADVERTISING AND PROMOTION

Table 20: Financial Results of Leading Manufacturers of Office Furniture (£m), 1996/1997

Strengths, Weaknesses, Opportunities and Threats (SWOT)

STRENGTHS

WEAKNESSES

OPPORTUNITIES

THREATS

Buying Behaviour

MARKET STRUCTURE

TYPES OF CUSTOMERS

CUSTOMER PENETRATION BY REGION

Table 21: Estimated Number of VAT-Registered Office Furniture Businesses in the UK (000 companies),1990-1996

Table 22: Geographical Location of Installation of Office Furniture in the UK ( percent), 1996

Outside Suppliers to the Industry

INTRODUCTION

RAW MATERIAL AND SEMI-FINISHED PRODUCTS

SERVICES

SELECTED SUPPLIERS

STOCKISTS

Current Issues

LEGISLATION

ENVIRONMENTAL ISSUES

NEW DESIGNS IN OFFICE FURNITURE

RAW MATERIAL PRICES

CORPORATE ACTIVITY

Forecasts

FUTURE PROSPECTS

FORECASTS 1998 TO 2001

Table 23: Forecast Apparent UK Market for Office Furniture (£m at msp), 1998-2001

Company Profiles

INTRODUCTION

DEFINITIONS

FURTHER INFORMATION

Further Sources

ASSOCIATIONS

PERIODICALS

DIRECTORIES

GENERAL SOURCES

HBI UK INFORMATION SOURCES

GOVERNMENT PUBLICATIONS

OTHER SOURCES

Text © 1998 Key Note

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