U.S. Office Furniture (Except Wood) Market. Analysis And Forecast to 2025
Hardly Recovered to Pre-Crisis Levels, Imports Climb in 2015
The U.S. dominates in imports of office furniture (except wood), accounting for 18% of global share (based on USD). It was followed by Canada (7%), Germany (6%), and the UK (6%). In 2015, U.S. office furniture (except wood) imports totaled 526 million USD, which was 69 million USD (+15%) higher than the year before.
From 2007 to 2015, the U.S. office furniture (except wood) imports showed mixed dynamics. A significant drop in 2009 was followed by modest recovery growth over the next five years, until imports soared in 2015. Generally, there was an annual increase of +2.2% throughout the analysed period. In 2014, U.S. office furniture (except wood) imports surpassed the pre-recession level of 2008.
Despite fierce competition, the U.S. continues to be one of the most attractive destinations for overseas suppliers.
Canada and China were the main suppliers of office furniture (except wood) into the U.S., with a combined share of 73% of total U.S. imports in 2015. China was the fastest growing supplier, with a +10.6% annual increase from 2007 to 2015. As a result, China significantly strengthened its position in the U.S. import structure, from 17% in 2007 to 31% in 2015. By contrast, Canada saw its share reduced to 42%.
From 2007 to 2015, the U.S. was a net importer of office furniture (except wood). On average, imports grew faster than exports over the period under review.
The U.S. trade deficit in this sector worsened over the period under review, growing from 216 million USD in 2007 to 324 million USD in 2014. This negative trend accelerated sharply after 2012, with the trade deficit showing an annual increase of +5.2%.
Source: IndexBox AI Platform
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