Industry Analysis & Industry Trends
While improvements in existing home sales and housing starts will drive up demand for household furniture, revenue will decline slightly over the next five years. Import penetration from countries with emerging economies will continue to place significant pricing pressures on domestic furniture manufacturers. However, fortunately for the industry, there is a market for high-quality household furniture, which domestic manufacturers are increasingly producing. As US household furniture manufacturers leverage their competitive advantage in producing high-quality goods, exports are expected to expand, bolstering industry revenue... purchase to read more
Industry Report - Industry SWOT Analysis Chapter
The Household Furniture Manufacturing industry in the United States is in the decline stage of its life cycle. Industry value added (IVA), which measures the industry's contribution to GDP, is projected to fall at an average annual rate of 1.2% over the 10 years to 2020. By contrast, GDP is projected to rise at an annualized rate of 2.5% over the same 10-year period. Additionally, the industry is experiencing decreasing demand for domestically manufactured furniture, a shrinking number of enterprises and slowing changes in technology, which are characteristics of a declining industry.
Domestic household furniture manufacturers face increasing competition from foreign producers (e.g. China), which enjoy more relaxed labor and environmental regulation... purchase to read more