Furniture and Related Product Manufacturing - 2023 U.S. Market Research Report with Updated COVID-19 & Recession Forecasts
The 2023 Furniture and Related Product Manufacturing Market Research Report is one of the most comprehensive and in-depth assessments of the industry in the United States with over 100 data sets covering 2014-2027. This report includes updated forecasts due to the economic impact of COVID-19 and a potential recession.
This 39-page report is based on extensive business surveys filled out by companies in the industry. Analysts create the forecasts utilizing historical data, macroeconomic trends, industry dynamics, and econometrics. Professionals utilize this report for market sizing, benchmarking, strategic planning, due diligence, valuations, cost-cutting, planning, understanding industry dynamics, evaluating opportunities, forecasting, streamlining, gap analysis, and other analyses.
This Kentley Insights report includes historical and forecasted industry size, growth, product line breakdown, profitability, financial ratios, balance sheet benchmarks, plant utilization, BCG matrix, statistics by state, operating expense details, inventory costs, production material cost detail, organizational breakdown, consolidation analysis, employee productivity, inflation, pay bands for the top 20 industry jobs, trend analysis and forecasts on companies, facilities, employees, payroll, and much more.
Review the table of contents to see the data-rich insights, which leaders have come to depend on for their research, strategic, and benchmarking needs.Industries in the Furniture and Related Product Manufacturing subsector make furniture and related articles, such as mattresses, window blinds, cabinets, and fixtures. The processes used in the manufacture of furniture include the cutting, bending, molding, laminating, and assembly of such materials as wood, metal, glass, plastics, and rattan. However, the production process for furniture is not solely bending metal, cutting and shaping wood, or extruding and molding plastics. Design and fashion trends play an important part in the production of furniture. The integrated design of the article for both esthetic and functional qualities is also a major part of the process of manufacturing furniture. Design services may be performed by the furniture establishment's work force or may be purchased from industrial designers.
Below are a few of the hundreds of stats from the 2023 Furniture and Related Product Manufacturing Market Research Report:
In 2022, industry sales were $77.3 billion
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Over the past 3 years, the industry has grown at an annual rate of 0.7%
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There are 13,960 companies in the industry
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SALES PER FACILITY
In 2022, the average sales per facility was $5.3 million
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PPI & PRICING
2022 PPI growth was 11.8%
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FINANCIAL RATIO BENCHMARKS
Companies average a Fixed Asset Turnover ratio of 3.1
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In 2022, employee productivity was $201,328
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2.8% of expenses are spent on health insurance
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In 2022, industry operating expenses grew 7%
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In 2022, payroll per employee was $46,999
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PAYROLL BY STATE
California averages $39,298 in payroll per employee
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JOB CATEGORIZATION BENCHMARKS
4.4% of employees in the industry are in management positions
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JOB CATEGORIZATION PAY RANGES
The average industry hourly pay for office and administrative jobs is $20.11
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The above highlights represent a small fraction of what you will find in this report.
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