Household Furniture Manufacturing in the US - Industry Market Research Report

Household Furniture Manufacturing in the US - Industry Market Research Report

Household Furniture Manufacturing in the US

Domestic demand for the Household Furniture Manufacturing industry has risen strongly over the five years to 2019, driven by the housing market. Consumer furniture purchases often relate to the furnishing of a new residence. Additionally, growth in disposable income has enabled more consumers to purchase new household furniture rather than readily available secondhand items. The increase in demand for furniture has been much stronger, but it has increasingly been captured by foreign manufacturers. Imports began the five-year period accounting for more than half of domestic demand and have since gained market share consistently. The leading sources of import competition are China and Vietnam, both of which have substantial cost advantages over US manufacturers. Increased import penetration has raised price competition in the industry and hurt profitability. Over the five years to 2024, the US housing market is expected to cool from the cyclical recovery it experienced during the previous period. In addition, the industry will contend with shifts in demand among younger demographics.

This industry manufactures a range of furniture for personal, household and public use. Public furniture is used for hospitals, theaters, cafeterias, schools and other facilities. Furniture may be made on a stock or custom basis and may be sold assembled or unassembled.

This report covers the scope, size, disposition and growth of the industry including the key sensitivities and success factors. Also included are five year industry forecasts, growth rates and an analysis of the industry key players and their market shares.