Industry Analysis & Industry Trends
Low business sentiment and high unemployment adversely affected the industry during the recession, as demand for office furniture remained low. Meanwhile, rising import penetration from China has hurt industry revenue further since the country is able to produce goods at much lower costs. Nevertheless, with the improved job market, demand will revive slowly over the next five years, spurring growth for office furniture manufacturers... purchase to read more
Industry Report - Industry Key Buyers Chapter
The Office Furniture Manufacturing industry has low market share concentration. IBISWorld estimates that the three largest players will account for an estimated 18.0% of total industry revenue in 2013. The remainder of the market is captured by a large number of small and privately owned businesses that successfully supply the local community's retail demand. As such, more than 70.0% of companies will employ fewer than 20 workers, while slightly more than 6.0% of companies will employ more than 100 workers in 2013.
High unemployment rates and low business sentiment following the downturn of the US economy have created an intensely competitive environment for existing players... purchase to read more