Williamstown, MA -- (SBWIRE) -- 02/27/2012 -- The Russian interior products industry is one of the fastest growing in Europe, registering a CAGR of 9.15% during the review period. Despite recording reduced growth during the global economic crisis, the industry recovered rapidly in 2010. The Russian interior products industry is expected to continue growing rapidly during the forecast period, fueled by the country's stable financial condition, strong demographic growth, growing disposable income and rising middle-class population. In addition, the industry is expected to benefit from the impact of major upcoming sporting events which will be hosted in the country such as the 2014 Winter Olympics and the 2018 FIFA World Cup. The country's strong economic condition is expected to lead to robust growth for the country's construction and real estate industries, which typically increases the demand of interior products.
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The increasing retail sales for contemporary interior products, especially for furniture, flooring and bathroom products, are a direct consequence of Russia's changing lifestyle and the increasing disposable income of the Russian middle class. Furthermore, the country's economic growth and increasing penetration of international retailers in the region are expected to generate opportunities for exporters.
During the review period, the number of single family households grew rapidly in Russia. This growth will drive the demand for new housing interior products to equip the newly created households. Furthermore, with the impact of upcoming sporting events, the hospitality industry is also expected to expand and demand a larger amount of interior design products.
- The interior products industry in Russia valued US$36,480.6 million in 2010. Over the medium term, sporting events such as the 2014 Winter Olympics and the 2018 FIFA World Cup will be a key driving force for the market.
- The country's growing consumer disposable income led to consumer confidence returning swiftly and Russia's employment rate increasing. Furthermore, the robust growth in Russia's construction and real estate industries also led to an increased demand for interior products during the review period.
- Russia's interior products industry is dependent on imports from other international markets.
- Russia is one of the fastest-growing interior products industries in Europe, with the largest consumer base in the region.
This report provides an extensive analysis of the interior products market in Russia:
- It details historical values for the Russian interior products industry for 2006-2010, along with forecast figures for 2011-2015
- It provides supporting country-specific analysis on the overall market as well as individual values for the industry's key categories
Companies Mentioned in this Report: Kemira HIM, AkzoNobel, Shatura Furniture Company, Tikkurila, Cersanit, Felix, IKEA Russia, Maxidom LLC, Castorama, OBI Franchise
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