First Research US Industry Profile

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Furniture Manufacturing
SIC Codes: 2511, 2512, 2514, 2515, 2521, 2522, 2531, 2599
NAICS Codes: 337
Last Quarterly Update: 4/15/2019
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: the largest 50 companies generate about 40% of revenue.
Imports, primarily from China, account for about one-third of furniture sold in the US. Other leading sources of imports include Vietnam, Canada, and Mexico. Exports, which go mainly to Canada, represent less than 10% of US furniture production.
Products, Operations & Technology
Major product categories include household furniture (45% of US industry revenue); institutional furniture (less than 20%); office furniture (about 15%); ... plus:
Sales & Marketing
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Finance & Regulation
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Regional & International Issues
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Human Resources
Also includes the following chapters:
Quarterly Industry Update
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Industry Indicators
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Business Challenges
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Trends and Opportunities
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Call Preparation Questions
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Financial Information
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Industry Forecast
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Industry Websites
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Glossary of Acronyms

Historical Profiles (PDF format)

01/14/2019
10/08/2018
07/09/2018
04/16/2018
01/15/2018
10/09/2017
07/03/2017
04/03/2017
01/02/2017
09/26/2016
06/27/2016
03/28/2016
12/21/2015
09/21/2015
06/22/2015
03/23/2015
12/22/2014
09/29/2014
07/07/2014
04/14/2014
01/20/2014
10/14/2013
07/22/2013
04/29/2013
02/04/2013
10/29/2012
07/30/2012
05/07/2012
02/06/2012
10/24/2011
07/25/2011
04/04/2011
01/03/2011
10/04/2010
06/28/2010
03/29/2010