Office space: Customization will provide room to grow amid import competition

Over the five years to 2017, the Office Furniture Manufacturing industry has had mixed results. The industry is anticipated to benefit from the increasing number of US businesses, which is a core segment of the industry's customer base. In the coming years, although the number of US businesses is anticipated to rise, increased import penetration is expected to constrain growth. Furthermore, the increasing amount of businesses that allow employees to work remotely will mitigate strong revenue gains. Still, demand for customized office furniture will deter significant import penetration, and revenue will increase due to steady unemployment rates and rising demand...read more.

Industry Statistics & Market Size
Revenue
$27bn
Annual Growth 12-17
0.6%
Forecast Growth 17-22
Profit
Employment
118,340
Businesses
6,508
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Industry Threats & Opportunities

  • Amid stringent import competition, industry operators have found opportunities for growth in customization
  • A gradual resumption of hiring has lifted demand for office furniture
  • New office construction is expected to grow at a stronger rate over the next five years
  • Industry Report - Industry Locations Chapter

    Accounting for 21.7% of all office furniture manufacturing, the Southeast region of the United States has the largest concentration of business locations in the industry. This is largely due to the fact that 25.7% of the nation's population resides in the Southeast, making it the most populated region in the United States. Manufacturing facilities are located near population centers in order to increase delivery speed and reduce transportation costs; therefore, the geographical location of establishments often corresponds to population trends. A number of the Southeast's major population centers are also located near major ports along the Atlantic and Gulf coasts. In addition, the region has ample access to wood and has historically been a hub of US furniture manufacturing...purchase to read more.

    Additional Insights for the Office Furniture Manufacturing Industry

    IBISWorld identifies 250 Key Success Factors for a business.The most important for the Office Furniture Manufacturing Industry are

  • Having contacts within key markets
  • Guaranteed supply of key inputs
  • Flexible production processes
  • IBISWorld analysts also discuss how external factors such as Corporate profit and National unemployment rate in the Office Furniture Manufacturing industry impact industry performance..

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    What is the Office Furniture Manufacturing Industry?

    Operators in the Office Furniture Manufacturing industry manufacture a wide range of office furniture, including bookcases, cabinets, chairs, desks and filing cabinets. This industry also manufactures office and store fixtures, such as cafeteria countertops (except kitchen and bathroom), furniture parts and partitions. Furniture may be ordered predesigned or customized, and may be sold assembled or unassembled.

    Industry Products
  • Custom architectural features
  • Seating
  • Desks and accessories
  • Storage units and tables
  • Lockers, partitions and shelving
  • Industry Activities
  • Manufacturing office furniture
  • Manufacturing custom architectural woodwork and other fixtures
  • Manufacturing showcases, partitions, shelving and lockers
  • Table of Contents

    Industry Definition
    Main Activities
    Similar Industries
    Additional Resources
    Industry Statistics Snapshot
    Industry Structure
    Executive Summary
    Executive Summary
    Key External Drivers
  • Corporate profit
  • National unemployment rate
  • Number of businesses
  • Trade-weighted index
  • Private investment in computers and software
  • Price of steel

  • Current Performance
  • International competition
  • Domestic demand
  • Industry structure
  • Chart: Revenue Growth

  • Industry Outlook
  • New construction
  • Import competition
  • Customization and consolidation
  • Table: Office Furniture Manufacturing Industry Revenue Outlook

  • Industry Life Cycle
  • Life cycle reasons
  • Chart: Benchmarking - Office Furniture Manufacturing Industry Lifecycle vs The Economy

  • Supply Chains
    Key Buying Industries
  • Furniture Wholesaling
  • Furniture Stores
  • Commercial Building Construction

  • Key Selling Industries
  • Glass Product Manufacturing
  • Iron & Steel Manufacturing
  • Plastic Products Miscellaneous Manufacturing
  • Textile Mills
  • Wood Paneling Manufacturing
  • Woodworking Machinery Manufacturing

  • Products & Services
  • Custom architectural features
  • Lockers, partitions and shelving
  • Desks and accessories
  • Storage units and tables
  • Seating
  • Other
  • Chart: Office Furniture Manufacturing Industry Products and Services Segmentation

  • Demand Determinants
    Major Markets
  • Business end users
  • Retailers
  • Independent wholesalers
  • Exports
  • Government agencies
  • Other
  • Chart: Major Market Segmentation for the Office Furniture Manufacturing Industry

  • International Trade
    Business Locations
    Chart: Business Locations by State
    Market Share Concentration
    Key Success Factors
    Cost Structure Benchmarks
  • Profit
  • Purchases
  • Wages and depreciation
  • Rent, utilities and other costs
  • Chart: Cost Structure Benchmarking – Sector vs Office Furniture Manufacturing

  • Basis of Competition
  • Internal competition
  • External competition

  • Barriers to Entry
  • Table: Barrier to Entry Checklist for the Office Furniture Manufacturing Industry

  • Industry Globalization
    Steelcase Inc.HNI Corporation Herman Miller Inc.
  • Table: Steelcase Inc. - financial performance
  • Table: HNI Corporation - financial performance
  • Table: Herman Miller Inc. - financial performance

  • Capital Intensity
  • Chart: Level of Capital Intensity for the Office Furniture Manufacturing Industry
  • Chart: Tools of the Trade: Growth Strategies for Success

  • Technology & Systems
    Revenue Volatility
  • Chart: Volatility vs Industry Growth

  • Regulation & Policy
    Industry Assistance
    Table: Industry Data for the Office Furniture Manufacturing Industry
    Includes:
  • Industry Revenue (2008-2022)
  • Industry Gross Product (2008-2022)
  • Establishments (2008-2022)
  • Businesses (2008-2022)
  • Employment (2008-2022)
  • Exports (2008-2022)
  • Imports (2008-2022)
  • Wages (2008-2022)
  • Corporate Profit (2008-2022)

  • Table: Annual Percentage Change for Key Industry Data
    Table: Key Ratios for Industry Key Data
    Table: Industry Financial Ratios
    80/20 Principle
  • Also known as the Pareto Principle, it states that 80.0% of a business's revenue should come from 20.0% of its customers.
  • Case Goods
  • Furniture made of hard materials, such as wood, metal, glass or plastic. Examples of case goods include chests, dressers, bookshelves and cabinets.
  • Edge Banding
  • Veneer or laminate used to conceal the exposed edges of furniture or cabinets that is made of the same type of material.
  • Plywood
  • A structural material made of layers of wood glued together.
  • Why buy this report?

    IBISWorld’s industry research report on Office Furniture Manufacturing provides up-to-date sales and market data, allowing you to identify the product and customer segments driving revenue growth. The report identifies the leading companies in the industry, and offers strategic analysis of the key factors influencing the market. Our data forecasts are accompanied by full analysis to illustrate how the market is responding to dominant and emerging trends.

    IBISWorld industry market research reports enable you to:
    • Find out about key industry trends
    • Identify threats and opportunities
    • Inform your decisions for marketing, strategy and planning
    • Quickly build competitive intelligence
    This report on Office Furniture Manufacturing:
    • Provides Market Size information to assist with planning and strategic decisions.
    • Includes the necessary information to perform SWOT, PEST and STEER analysis.
    • Helps you understand market dynamics to give you a deeper understanding of industry competition and the supply chain.
    • Analyses key performance and operational metrics so that you can benchmark against your own business, that of your customers’ businesses, or your competitors’ businesses.
    The Office Furniture Manufacturing market research report includes:
    • Historical data and analysis for the key drivers of this industry
    • A five-year forecast of the market and noted trends
    • Detailed research and segmentation for the main products and markets
    • An assessment of the competitive landscape and market shares for major companies
    • And of course, much more

    IBISWorld reports on thousands of industries around the world. Our clients rely on our information and data to stay up-to-date on industry trends across all industries. With this IBISWorld Industry Research Report on Office Furniture Manufacturing, you can expect thoroughly researched, reliable and current information that will help you to make faster, better business decisions.

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