Industry Analysis & Industry Trends
While improvements in existing home sales and housing starts will drive up demand for household furniture, revenue will not make substantial gains over the next five years. Import penetration from countries with emerging economies will continue to place significant pricing pressures on domestic furniture manufacturers. To maintain demand in this contracting industry, industry players have been forced to reduce their markups, consequently hurting profitability... 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 0.5% over the ten years to 2019. By contrast, GDP is projected to rise at an annualized rate of 2.7% over the same 10-year period. Decreasing demand for domestically manufactured furniture, a shrinking number of enterprises and slowing changes in technology also indicate 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