Furniture - Austria

Austria

In Austria, the revenue generated in the Furniture market in 2024 amounts to US$5.95bn.
It is projected that the market will experience an annual growth rate of 1.18% (CAGR 2024-2029).
The largest segment within the market is the Living Room Furniture segment, which is expected to have a market volume of US$1.90bn in 2024.
When compared globally, in the United States generates the highest revenue in the Furniture market, amounting to US$264bn in 2024.
In terms of per capita revenue, in Austria generates US$663.00 per person in 2024.
Austria's furniture market has seen a rise in demand for eco-friendly and sustainable products, reflecting the country's commitment to environmental consciousness.

Key regions: Worldwide, United States, China, India, Germany

Definition:

The Furniture market covers different movable objects designed to support various human activities such as sitting, sleeping, and storing items. These objects can include chairs, tables, beds, couches, and cabinets, among others. The design and layout of furniture can have a significant impact on the comfort and functionality of a space, making it an important aspect of interior design and home decor.

Structure:

The Furniture market is divided into seven segments:

The Living Room Furniture segment focuses on furnishings such as sofas, side tables, and media cabinets typically found in the living room. This segment is divided into the following subsegments: Seats & Sofas and Cabinets, TV Stands & Side Tables.
The Bedroom Furniture segment covers furnishings and other accessories used for sleeping and the storage of clothing and other personal items. This segment is divided into the following subsegments: Beds, Mattresses, Closets, Nightstands, & Dressers, and Bedding.
The Kitchen & Dining Furniture segment covers a diverse range of products that are used to meet people’s eating, food storage and preparation needs. This segment is divided into the following subsegments: Kitchenware and Dining Tables, Kitchen Islands & Pantries.
The Outdoor Furniture segment covers products specifically designed to withstand exposure to the elements, such as rain, sun, and wind, and is often made from materials that are weather-resistant.
The Home Office Furniture segment focuses on products that ensure a good working environment at home compared to that of a traditional office. This segment is divided into the following subsegments: Desks & Chairs and Bookcases & Filing Cabinets.
The Lamps & Lighting segment covers various devices and fixtures that provide illumination in a space. This segment is divided into the following subsegments: Table & Floor Lamps, Ceiling Lights & Chandeliers, and Light Bulbs & Fittings.
The Home Décor segment covers a variety of accessories and furnishings designed to make a space more aesthetically appealing. This segment is divided into the following subsegments: Decorations, Carpets & Rugs, Candles, and Curtains & Blinds.

Additional Information:

The Furniture market consists of revenue and average revenue per capita data. Per capita figures consider the whole population. This market includes only business to consumer (B2C) sales. Business to business (B2B) sales (e. g., furniture for coffee shops, offices, etc.) are excluded in the figures shown. For more information on the displayed data, click the info button on the right-hand side of each box. In terms of key players in the furniture market, IKEA is the leading furniture company; however, with the rise of eCommerce, players such as Wayfair are gaining ground.

Market

Region

Region comparison

Currency

Analyst Opinion

The Furniture market in Austria has been experiencing steady growth in recent years, driven by changing customer preferences and underlying macroeconomic factors.

Customer preferences: Austrian customers have shown a growing preference for modern and functional furniture designs. They are increasingly seeking furniture that is not only aesthetically pleasing but also practical and space-saving. This trend is reflected in the increasing demand for multi-purpose furniture pieces such as sofa beds, storage beds, and modular furniture systems. Customers are also placing a greater emphasis on sustainability and eco-friendly materials, driving the demand for furniture made from renewable resources and recycled materials.

Trends in the market: One of the key trends in the Austrian furniture market is the rise of online shopping. With the increasing availability of high-speed internet and the convenience it offers, more customers are opting to purchase furniture online. This trend has been further accelerated by the COVID-19 pandemic, which has led to an increase in online shopping across various industries. Online furniture retailers are capitalizing on this trend by offering a wide range of products, competitive prices, and convenient delivery options. Another trend in the Austrian furniture market is the growing demand for customized furniture. Customers are increasingly looking for unique and personalized furniture pieces that reflect their individual style and preferences. This trend has led to the emergence of furniture companies that offer customizable options, allowing customers to choose the design, dimensions, and materials of their furniture.

Local special circumstances: Austria has a strong tradition of craftsmanship and quality in the furniture industry. Austrian furniture manufacturers are known for their attention to detail, precision, and use of high-quality materials. This reputation for craftsmanship has contributed to the country's export success, with Austrian furniture being highly sought after in international markets. Austria also has a strong culture of sustainability and environmental consciousness. The country has implemented strict environmental regulations and certifications, which has led to the production of eco-friendly furniture. Customers in Austria are increasingly conscious of the environmental impact of their purchases and are willing to pay a premium for sustainable furniture options.

Underlying macroeconomic factors: The Austrian economy has been performing well in recent years, with stable economic growth and low unemployment rates. This has resulted in increased consumer confidence and disposable income, which has in turn boosted the demand for furniture. Additionally, low interest rates and favorable financing options have made it easier for customers to make large purchases such as furniture. Furthermore, Austria's strong tourism industry has also contributed to the growth of the furniture market. The country attracts a large number of tourists each year, many of whom are interested in purchasing Austrian furniture as souvenirs or for their own homes. This has created a lucrative market for furniture manufacturers and retailers. In conclusion, the Furniture market in Austria is experiencing growth due to changing customer preferences towards modern and functional designs, the rise of online shopping, and the demand for customized furniture. The country's strong tradition of craftsmanship, focus on sustainability, and favorable macroeconomic factors have further contributed to the market's development.

Methodology

Data coverage:

Data encompasses B2C enterprises. Figures are based on home furnishings and furniture found in every room of the home. This market is segmented by the room where the furniture is likely to be used and consists of the following: Living Room, Bedroom, Kitchen and Dining room, Bathroom, Outdoor, and Home Office. The Furniture market also includes Lamps and Lighting and Home Decor because the furnishings and accessories within these segments are not specific to any room.

Modeling approach / Market size:

Market sizes are determined by a top-down approach, based on a specific rationale for each market segment. As a basis for evaluating markets, we use national statistical offices, international institutions, in-house market research, and resources from the Statista platform. Next we use relevant key market indicators and data from country-specific associations such as consumer spending and GDP. This data helps us to estimate the market size for each country individually.

Forecasts:

In our forecasts, we apply diverse forecasting techniques. The selection of forecasting techniques is based on the behavior of the particular market. For example, exponential trend smoothing is well suited for forecasting the Furniture market with a projected steady growth. The main drivers are furniture and furnishings, carpets and other floor coverings, and consumer spending per capita.

Additional Notes:

The market is updated twice per year in case market dynamics change. The impact of the COVID-19 pandemic is considered at a country-specific level.