Germany Furniture Market Shipment Analysis
Germany Furniture Market registered a decline of -11.78% in value shipments in 2022 as compared to 2021 and an increase of 4.67% CAGR in 2022 over a period of 2017. In Furniture Market Germany is becoming more competitive as the HHI index in 2022 was 1915 while in 2017 it was 2075. Herfindahl Index measures the competitiveness of exporting countries. The range lies from 0 to 10000, where a lower index number represents a larger number of players or exporting countries in the market while a large index number means less numbers of players or countries exporting in the market.
Germany has reportedly relied more on imports to meet its growing demand in Furniture Market. India is unable to meet its increasing needs of this product with domestic production hence we see the trend is shifting towards import shipment to meet its demand The import factor of Furniture Market in 2022 was 2.25 while in 2017 it was 1.96. Poland, China, Italy, Romania and Lithuania were among the top players of the market in 2022, where Poland acquired the largest market share of 40.35% with a shipment value of 2170.89 million USD in 2022 Poland also offered the product above the average market price, but remained at the leadership position indicating the trust it holds in the Furniture Market. In 2017 Poland had the largest market share of 42.96% with the shipment value of 1992.44 million USD. The country was offering its product with an average price which is higher than the average market price offered in the country. Although Poland offers its product above the market average price, it remained at the leadership position indicating the brand value it holds in the Germany Furniture Market in 2017.
