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    Furniture Manufacturing Industry Profile

    Report Page Length: 10-12
    Last Quarterly Update: 3/29/2021
    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).

    The global furniture market is projected to reach over $650 billion by 2027, according to Statista. 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 14,500 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: the largest 50 companies generate about 40% of revenue.

    Imports, ...

     
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