Technavio Announces Top Three Emerging Trends Impacting the Furniture Manufacturing Market in Romania until 2020

LONDON--()--Technavio’s latest report on the furniture manufacturing market in Romania provides an analysis on the most important trends expected to impact the market outlook from 2016-2020. Technavio defines an emerging trend as a factor that has the potential to significantly impact the market and contribute to its growth or decline.

The top three emerging trends driving the furniture manufacturing market in Romania according to Technavio consumer and retail research analysts are:

  • Growing focus on bio-based production
  • Technological advancements
  • Increased consumer spending

Growing focus on bio-based production

Over the past few years, manufacturers in the furniture manufacturing sector have been making concerted efforts to employ sustainable processes that have a minimal impact on the environment. These include the development of products manufactured from renewable resources. These R&D activities add a new dimension to the market, and increase the competitiveness of manufacturers, as people prefer products that are eco-friendly. New entrants that offer such innovative and green solutions are growing in the market.

Technological advancements

Innovation is high in the market, with an increasing number of manufacturers offering products with aesthetic appeal and durability. Manufacturers work closely with furniture manufacturers to come up with innovative products that enhances their brand image and sales.

“Manufacturers in the furniture market in Romania are importing wood processing machinery from countries such as Germany to reduce cycle time and enhance profitability by improving process and yield efficiency,” says Brijesh Kumar Choubey, a lead analyst at Technavio, specializing in research on retail goods and services.

Increased consumer spending

The Romanian economy accounted for 0.32% of the global GDP in 2014. The annual GDP growth rate averaged at 2.44% during 2012-2014. GDP is forecast to grow at a steady rate of 2.8%-3.2% during 2015-2020. Promotion of exports, steady domestic demand, and stable labor economics are expected to fuel the growth of the market during this period. Moreover, a rise in the income levels of end-users is expected to result in increased spending on lifestyle-related products, such as modular kitchens, which will open up huge opportunities for furniture manufacturers. “Romania is also experiencing a rise in the construction of offices and residential buildings in the country, which will increase the demand for furniture in the coming years,” says Brijesh.

Competitive market scenario

The furniture manufacturing market in Romania is marked by the presence of diverse international and regional manufacturers. However, as international players have established their footprint in the market, regional manufacturers are finding it increasingly difficult to compete with them, especially on aspects such as quality, technology, and pricing. The competitive environment in this market will likely intensify further with an increase in product and service extensions and M&A. International players are expected to grow inorganically by acquiring regional and local players.

Some of the key manufacturers in the furniture manufacturing market in Romania are:

Company   Description
Adorianis Trans   Manufacturer and exporter of bedroom and kitchen furniture
Agache   Manufacturer of upholstered furniture
Alprom Pitesti   Producer of furniture
Antares International   Producer of furniture based in the Czech Republic
Aramis Group   Manufacturer of furniture
Ardudana   Producer of furniture
Bradul Maneciu   Manufacturer of furniture
Durieux International Societe   Producer of hand-crafted wooden furniture
Elvila   Manufacturer of furniture
Famos   Manufacturer of furniture
Gammet 2000   Manufacturer of furniture
Imar   Producer of furniture
Industry Transilvan   Producer of small furniture
Italsofa   Manufacturer of furniture
Laguna Serv   Manufacturer of furniture
Larix Mobila   Producer of veneered chipboard furniture
Lemet   Manufacturer of furniture

Source: Technavio

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Technavio is a leading global technology research and advisory company. The company develops over 2000 pieces of research every year, covering more than 500 technologies across 80 countries. Technavio has about 300 analysts globally who specialize in customized consulting and business research assignments across the latest leading edge technologies.

Technavio analysts employ primary as well as secondary research techniques to ascertain the size and vendor landscape in a range of markets. Analysts obtain information using a combination of bottom-up and top-down approaches, besides using in-house market modeling tools and proprietary databases. They corroborate this data with the data obtained from various market participants and stakeholders across the value chain, including vendors, service providers, distributors, re-sellers, and end-users.

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Contacts

Technavio Research
Jesse Maida
Media & Marketing Executive
US: +1 630 333 9501
UK: +44 208 123 1770
www.technavio.com

Release Summary

Technavio’s latest report on the furniture manufacturing market in Romania provides an analysis on the most important trends expected to impact the market outlook from 2016-2020.

Contacts

Technavio Research
Jesse Maida
Media & Marketing Executive
US: +1 630 333 9501
UK: +44 208 123 1770
www.technavio.com