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Industry revenue of »manufacture of kitchen furniture« in Norway 2011-2023

Up until a decade or two ago, the furniture industry in Norway was flourishing, owing to the abundance of raw materials and favorable working conditions. However, over the years, furniture manufacturing has been decling, as majority of the operations have been outsourced to low cost bases. As a result most of the domestic demand is being fullfiled through imports. In fact, in 2018, the value of furniture imports amounted to nearly seven times that of exports. Unsurprisingly, revenues in the kitchen furniture segment are also expected to witness only tepid growth between 2016-2023.

IKEA dominates the market

The furniture market in the country is monopolistic, with IKEA accounting for a 40 percent market share in 2017. Bohus, followed by the SkeidarLiving Group and JYSK are some of the other top retailers, with a combined market share of 32 percent. One of the key reasons for IKEA’s growth not only in Norway, but majority of the European nations has been its efficient omnichannel execution.

Industry revenue of »manufacture of kitchen furniture« in Norway from 2011 to 2023

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Sources

Supplementary notes

* Estimate - This also applies for past years as data provided by statistical institutions often is not available for more recent years.

Currency conversion factor: (EUR -> USD) = 1.186

The industry classification is based on the NACE Rev.2 - system in Norway. The industry “manufacture of kitchen furniture“ has the code “C3102“.

Details on the methodology can be found here.

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Statistics on "Economic Outlook Norway"

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