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          1. Furniture Manufacturing Industry Profile

            Report Page Length: 10-12
            Last Quarterly Update: 8/24/2020
            SIC Codes: 2511, 2512, 2514, 2515, 2521, 2522, 2531, 2599
            NAICS Codes: 337
            Chapters Include:
            Industry Overview Trends & Challenges Industry Forecast
            Quarterly Industry Update Call Prep Questions Website & Media Links
            Business Challenges Financial Information Glossary & Acronyms
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            Excerpt from Furniture Manufacturing Industry Profile

            Companies in this industry manufacture household, office, and institutional furniture and related products, including mattresses. Major companies include Herman Miller, HNI, La-Z-Boy, Leggett & Platt, Steelcase, and Tempur Sealy (all based in the US), along with Hunter Douglas and IKEA (both in the Netherlands), Kokuyo and Okamura Corporation (both in Japan), and Samson Holding (China).

            Globally, furniture sales total more than $450 billion annually and are expected to grow about 5% each year through 2025, according to Grand View Research. Italy, Germany, and France are countries with high concentrations of furniture exports, while the Asia-Pacific region accounts for nearly 40% of global furniture revenue share due to the region's booming real estate industry and rapid urbanization.

            The US furniture manufacturing industry includes about 15,000 establishments (single-location companies and units of multi-location companies) with annual revenue of about $75 billion.

            COMPETITIVE LANDSCAPE

            The volume of home furniture sold depends heavily on the level of home sales, while office furniture sales depend on the health of the US economy overall. The profitability of individual companies is closely linked to volume, since many costs are fixed. Large companies enjoy economies of scale in purchasing. Small companies can compete effectively if they produce specialty items or high-quality workmanship that can sell for a premium price. Some segments, such as mattress manufacturing and office furniture manufacturing, are highly concentrated, but the US industry as a whole is fragmented: ...

             
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