Household Furniture Manufacturing in the US
Over the five years to 2018, US demand for household furniture has risen relatively strongly, underpinned by growth in the US housing market. Consumers often purchase furniture when moving into a new home, so an increase in housing starts has raised overall furniture demand over the past five years. Existing home sales and home improvement spending have also grown strongly during the five-year period, spurring furniture purchases for redecoration. However, despite rising demand for furniture, the industry has experienced intensifying competition from imports. Foreign manufacturers, particularly in Asia, can manufacture furniture at lower costs and undercut the prices of domestic operators. Although rising wage costs in China are expected to narrow the country's manufacturing advantage and slow the industry's offshore movement, competition from low-cost imports in recent years has forced the closure of many domestic furniture factories. Over the next five years, the US housing market is expected to cool from the cyclical recovery it experienced during the previous period. Both housing starts and existing home sales will likely decelerate, slowing demand for household furniture. I
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.