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Furniture ManufacturingPublished by: First Research, Inc. Published: Sep. 14, 2009 - 10 Pages Table of Contents
AbstractFurniture manufacture in the US generates about $85 billion in sales from around 21,000 companies. Large companies include Steelcase, Herman Miller, La-Z-Boy, Sealy, and Furniture Brands International. The average company produces around $4 million in annual revenue. Some sectors, such as mattress manufacturing and office furniture, are highly concentrated, but the industry as a whole is fragmented: the largest 50 companies hold less than 40 percent of the market.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. The profitability of individual companies is closely linked to volume, since many costs are fixed. Small companies can compete effectively if they produce specialty items or high-quality workmanship that can sell for a premium price. Imports are a major competitive factor, totaling more than $26 billion a year, and many US manufacturers have factories overseas, where labor and production costs are lower than in the US. Foreign competition and production overcapacity have combined to keep prices low. Additionally, despite automation, the made-to-order nature of much of the business means that the industry is fairly labor-intensive: average annual revenue per worker is around $250,000. PRODUCTS, OPERATIONS & TECHNOLOGY Manufacturers generally specialize in either household furniture (about $60 billion market) or office furniture ($20 billion). Within the household segment, bedroom furniture accounts for about 32 percent of sales; upholstered ... Get Full Details About This Report >> |
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