Office Furniture Market Report

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Office Furniture Market Report 2008

Description:    The UK market for office furniture was worth an estimated £859.8m at manufacturers' selling prices
                (msp) in 2007, having risen by a marginal 0.3% since 2006.

                Five sectors are covered in this Market Report. Wooden desks include all types of desking with
                wood or fibreboard worktops. (Most desks fall into this category.) Other wooden furniture includes
                mobile pedestals, display units, shelves, racking, screens, panels, cupboards, bookcases and
                cabinets. Metal cupboards and filing cabinets are traditional 3-drawer and 4-drawer filing cabinets
                and cupboards. Other metal furniture includes high-level shelving and storage units, screens,
                panels, display stands, mobile pedestals, 2-drawer cabinets, desks with metal worktops, metal
                tables and trolleys. Upholstered swivel seating covers task or operator chairs and executive chairs,
                and orthopaedic chairs for the office.

                Business confidence improved in 2004 and business investment showed overall growth between
                2004 and 2007, which has benefited demand for new office space and for furniture. However, the
                aftermath of the credit crisis led to a slump in confidence in the first few months of 2008. The
                important banking and financial services sector, which makes a major contribution to the UK
                economy and to demand for office furniture, has been badly hit.

                The increased cost of raw materials and energy, plus general inflation, resulted in an increase in
                office-furniture producer prices in 2007, particularly in the wooden office-furniture sector.

                Despite the inflationary pressures, prices have been kept to a minimum by pressure from low-cost
                imports. Between 2003 and 2007, imports increased their penetration of the UK market by ten
                percentage points.
                Trends in working practices affect the choice of office furniture. Flat screens, smaller computers and
                the sharing of network printers allow smaller desks to be used. Centralised storage and reliance on
                electronic storage reduces the need for traditional desk drawers and workgroup filing. Staff are
                more likely to share desks, work outside the office for part of the week and move around the office
                to accomplish different tasks. Furniture needs to be flexible, so that configurations can be changed
                as needs alter.

                We expect 2008 to be a difficult year for the office-furniture market, which is forecast to remain
                static in current-price terms and fall in terms of constant prices. At current prices, growth is
                expected to resume in 2009, and continue at fairly modest rates for the remainder of the forecast
                period (2008 to 2012). Market trends will favour space-saving designs in desking and storage.



Contents:       Executive Summary

                1. Market Definition
                REPORT COVERAGE
                MARKET SECTORS
                Wooden Furniture
                Wooden Desks
                Other Wooden Furniture
                Metal Furniture
                Metal Cupboards and Filing Cabinets
                Other Metal Furniture
                Upholstered Swivel Seating
                MARKET TRENDS
                Changing Office Technology
                Office Design and Use
                Modern Styling
                Prices
                Table 1: Producer Price Index Values for Metal and Wooden Office Furniture Manufactured in the UK
(index 2000=100), 2003-2007
Table 2: Average Price Per Item for UK Manufacturers' Sales of Upholstered Swivel Seating (£),
2003-2007
Demand for Office Property
Table 3: Construction Output in the Private Commercial and Public Non-Housing Sectors (£000 at
constant 2000 prices), 2003-2007
Growth in Employment
Table 4: Total Workforce Jobs in the UK (000), Years Ending June 2003-2007
ECONOMIC TRENDS
Population
Table 5: UK Resident Population Estimates by Sex (000), Mid-Years 2003-2007
Gross Domestic Product
Table 6: UK Gross Domestic Product at Current and Annual Chain-Linked Prices (£m), 2003-2007
Inflation
Table 7: UK Rate of Inflation (%), 2003-2007
Unemployment
Table 8: Actual Number of Unemployed Persons in the UK (million), 2003-2007
MARKET POSITION
UK
Table 9: The UK Office Furniture Market Compared With Other UK Office Markets by Value (%),
2007
Overseas

2. Market Size
THE TOTAL MARKET
Table 10: The Apparent UK Market for Office Furniture by Value at Current Prices (£m at msp),
2003-2007
Figure 1: The Apparent UK Market for Office Furniture by Value at Current Prices (£m at msp),
2003-2007
BY MARKET SECTOR
Table 11: The Apparent UK Market for Office Furniture by Sector by Value (%), 2003-2007
Figure 2: The Apparent UK Market for Office Furniture by Sector by Value (%), 2007
Wooden Furniture
Wooden Desks
Table 12: The Apparent UK Market for Wooden Desks by Value (£m at msp and %), 2003-2007
Other Wooden Furniture
Table 13: The Apparent UK Market for Other Wooden Furniture by Value (£m at msp and %), 2003-
2007
Metal Furniture
Metal Cupboards and Filing Cabinets
Table 14: The Apparent UK Market for Metal Cupboards and Filing Cabinets by Value (£m at msp
and %), 2003-2007
Other Metal Furniture
Table 15: The Apparent UK Market for Other Metal Furniture by Value (£m at msp and %), 2003-
2007
Upholstered Swivel Seating
Table 16: The Apparent UK Market for Upholstered Swivel Seating by Value (£m at msp and %),
2003-2007
OVERSEAS TRADE
Table 17: Net Imports of Office Furniture to the UK (£m at msp), 2003-2007
Imports
Table 18: UK Imports of Office Furniture by Sector (£m at msp), 2003-2007
Table 19: Import Penetration of the UK Office Furniture Market by Value (£m at msp and %), 2003-
2007
Trading Partners
Table 20: UK Imports of Office Furniture by Country of Origin by Value (£m at msp and %), 2007
Exports
Table 21: UK Exports of Office Furniture by Sector (£m at msp), 2003-2007
Table 22: UK Office Furniture Exports as a Percentage of Manufacturers' Sales by Value (£m at msp
and %), 2003-2007
Trading Partners
Table 23: UK Exports of Office Furniture by Country of Destination by Value (£m at msp and %),
2007
3. Industry Background
RECENT HISTORY
NUMBER OF COMPANIES
Table 24: Analysis of UK VAT-Based Enterprises Engaged in the Manufacture of Office and Shop
Furniture by Turnover Sizeband (number), 2003-2007
EMPLOYMENT
Table 25: Analysis of UK VAT-Based Enterprises Engaged in the Manufacture of Office and Shop
Furniture by Employment Sizeband (number), 2003-2007
Table 26: Leading Employers Among Office Furniture Manufacturers and Suppliers (number of
employees), 2002-2006
Regional VARIATIONS IN THE MARKETPLACE
Table 27: Analysis of UK VAT-Based Enterprises Engaged in the Manufacture of Office and Shop
Furniture by Government Office Region (number), 2006 and 2007
DISTRIBUTION
HOW ROBUST IS THE MARKET?
LEGISLATION
KEY TRADE ASSOCIATIONS
British Contract Furnishing & Design Association (BCFA)
British Furniture Manufacturers
Fédération Européene du Mobilier de Bureau
FIRA International
Office Furniture Advisory Service

4. Competitor Analysis
THE MARKETPLACE
MARKET LEADERS
Table 28: Leading UK Suppliers of Office Furniture by Turnover (£m), 2006/2007
Bisley Office Equipment Ltd
Company Structure
Current and Future Developments
Financial Results
DAMS International Ltd
Company Structure
Financial Results
EFG Office Furniture Ltd
Company Structure
Current and Future Developments
Financial Results
Gresham Office Furniture Ltd
Company Structure
Current and Future Developments
Financial Results
Herman Miller Ltd
Company Structure
Current and Future Developments
Financial Results
Kinnarps (UK) Ltd
Company Structure
Current and Future Developments
Financial Results
H Morris & Co Ltd
Company Structure
Current and Future Developments
Financial Results
Senator International Ltd
Company Structure
Current and Future Developments
Financial Results
Steelcase PLC
Company Structure
Current and Future Developments
Financial Results
TBS (South Wales) Ltd
Company Structure
Current and Future Developments
Financial Results
Other Companies
Komfort Workspace PLC
Logic Office Group PLC
Verco Office Furniture Ltd
OUTSIDE SUPPLIERS
MARKETING ACTIVITY
Main Media Advertising Expenditure
Table 29: Main Media Advertising Expenditure on Office Furniture and Storage Systems (£000),
Years Ending March 2007 and 2008
Trade Fairs

5. Strengths, Weaknesses, Opportunities and Threats
THE TOTAL MARKET
Strengths
Weaknesses
Opportunities
Threats
WOODEN FURNITURE
Strengths
Weaknesses
Opportunities
Threat
METAL FURNITURE
Strengths
Weaknesses
Opportunities
Threat
UPHOLSTERED SWIVEL SEATING
Strengths
Weaknesses
Opportunities
Threat

6. Buying Behaviour
BUSINESS INVESTMENT
Table 30: UK Business Investment at Current Market Prices (£m), 2004-2007
Table 31: UK Business Investment in Chained Volume Measures — Reference Year 2003 (£m),
2004-2007
THE PUBLIC SECTOR
From 1st April 2008
THE PRIVATE SECTOR
Large and Medium-Sized Companies
Small Businesses
WORKING FROM HOME

7. Current Issues
CORPORATE CHANGES
AN UNUSUAL PRODUCT FROM STEELCASE

8. The Global Market
THE US
EUROPE
GROWTH MARKETS

9. Forecasts
INTRODUCTION
The Economy
Population
Table 32: Forecast UK Resident Population by Sex (000), Mid-Years 2008-2012
            Gross Domestic Product
            Table 33: Forecast UK Growth in Gross Domestic Product in Real Terms (%), 2008-2012
            Inflation
            Table 34: Forecast UK Rate of Inflation (%), 2008-2012
            Unemployment
            Table 35: Forecast Actual Number of Unemployed Persons in the UK (million), 2008-2012
            FORECASTS 2008 TO 2012
            Table 36: The Forecast Apparent UK Market for Office Furniture by Value at Current and Constant
            2007 Prices (£m at msp), 2008-2012
            Figure 3: The Forecast Apparent UK Market for Office Furniture by Value at Current Prices (£m at
            msp), 2008-2012
            MARKET GROWTH
            Figure 4: Growth in the UK Market for Office Furniture by Value at Current Prices (£m at msp),
            2003-2012
            FUTURE TRENDS

            10. Company Profiles
            Bisley Office Equipment Ltd
            Dams International Ltd
            EFG Office Furniture Ltd
            Gresham Office Furniture Ltd
            Herman Miller Ltd
            Kinnarps (uk) Ltd
            H Morris & Co Ltd
            Senator International Ltd
            Steelcase PLC
            TBS (South Wales) Ltd
            Further Sources
            Associations
            General Sources
            Government Sources
            Other Sources
            Bisnode Sources



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