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, which has hurt the industry since 2006, 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. Over the 10 years to 2018, industry value added (IVA), which measures the industry's contribution to GDP, is projected to fall at an average annual rate of 4.0%. This falling rate indicates that the industry will perform below the domestic economy overall, as GDP is projected to increase an average of 2.1% per year over the same period. Decreasing demand for domestically manufactured furniture, a shrinking number of enterprises and slowing changes in technology also indicate a declining industry... purchase to read more