High Growth Forecasted for the Office Furniture Market

The mounting use of computers and related technology in the 1980s fueled a boom in sales of office furniture to meet the needs of a changing work landscape, including new types of workstations, printer tables, movable walls and partitions. Following the dotcom bust, office furniture makers struggled to adapt by introducing new products and distribution channels, experimenting with M&A strategies, and looking into sustainability measures and overseas markets for new buyers, raw materials and plant locations. These efforts paid off, and since 2003 the U.S. office furniture market has experienced a period of growth and relative stability, registering a compound annual growth rate of 7% through 2007, according to SBI's Office Furniture Market in the U.S.. Beyond the domestic market, U.S. manufacturers have seen their exports of office furniture grow at twice the rate of imports during that period.

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