Egyptian furniture sector is the 3rd largest industrial sector in terms of establishments and employment in Egypt and accounts for 13% of the total industrial employment. The country is supposed to have an estimated population of nearly 100 million by 2020 making it one of the largest markets in the MENA region.
Damietta city is the main hub of furniture manufacturing in Egypt where 70% of its population is involved in the furniture industry directly or indirectly. The city is home to an estimated 35,000 furniture production facilities and workshops.
The local market size stood at USD 28.3 billion in 2015, growing by almost 5% as compared to 2014. Assuming the same CAGR, it is estimated that the market size will become USD 34.5 billion by 2020.
Egypt is working towards boosting its economy with some mega key projects that will keep the demand of wood products & woodworking machinery technologies at the top in the coming years and below are the few ongoing projects in the country:
New Administrative Capital, Cairo (CAPEX: USD 40 – 70 billion)
New Coast South Marina (CAPEX: USD 4 – 5 billion)
6th of October Oasis Mega Urban Development Project (CAPEX: USD 20 billion)
Egypt’s growing population and the increasing income supports the real estate and retail sectors. And the furniture sector compliments both the real estate and retail sectors with the increasing consumption of the wood and furniture items.
*Sources: Egyptian Furniture Export Council (EFEC), CAPMAS & Trade Map, New Urban Commodities Authority (NUCA)