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2024 U.S. Industry Statistics & Market Forecast - Upholstered Household Furniture Manufacturing


Market Size & Industry Statistics

The total U.S. industry market size for Upholstered Household Furniture Manufacturing: Industry statistics cover all companies in the United States, both public and private, ranging in size from small businesses to market leaders. In addition to revenue, the industry market analysis shows information on employees, companies, and average firm size.

Investors, banks, and business executives use growth rates and industry trends to understand the market outlook and opportunity.

Charts and graphs can be copied to Microsoft Word and Powerpoint presentations.

Statistics        2019        2020        2021        2022        2023
Market Size
(Total Sales/Revenue)


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Total Firms
Total Employees
Average Revenue Per Firm
Average Employees Per Firm
Average Revenue Per Employee
Statistics Source: U.S. Census, AnythingResearch Analysis of Federal Data



Market Forecast

Market forecasts show the long term industry outlook and future growth trends. The following extended five-year forecast projects both short-term and long-term trends.





Forecast / Industry Outlook 2024 2025 2026 2027 2028
Market Forecast ($ millions)
Projected Industry Growth Rate (%)
Source: AnythingResearch Economic Analysis

Industry Insights

The Upholstered Household Furniture Manufacturing industry has witnessed significant changes in recent years due to several key trends. First, rising disposable incomes have driven demand for new and improved furniture designs. The emergence of e-commerce platforms has also significantly impacted the industry as more customers purchase furniture online, and manufacturers increasingly rely on e-commerce platforms to reach customers. The advent of technological advancements has also had a significant impact on the industry, such as computer-assisted design software, which enables manufacturers to create highly customized and complex designs.

Another trend in the industry is the sustainable furniture movement, which calls for the use of environmentally friendly materials, such as recycled wood, and environmentally safe production processes. The market for smart furniture has also gained popularity, with the integration of technology enabling the customization of furniture with features like in-built charging ports, smart controls, and wireless connectivity. The rising demand for multifunctional furniture has also impacted the industry as consumers look for furniture pieces that are versatile and adaptable to changing living situations.

The Industry has seen a decline in domestic manufacturing in favor of overseas production, mainly China, where labor is cheaper. Nonetheless, the trade dispute between the US and China has caused manufacturers to consider alternative options, including increasing prices, moving production to other countries, or enhancing production efficiency. Finally, emerging data and analytics trends are at the center of predictive modeling, quality control, and operational excellence for furniture manufacturers. Therefore, manufacturers are investing to leverage data analytics to optimize production processes and improve product quality.



U.S. Geographic Distribution: Revenue Statistics by State

Market Size by State ($ millions) indicates how the industry's competition is distributed throughout the country. State-level information can identify areas with higher and lower industry market share than average.

U.S. map by state

Income Statement (Average Financial Metrics)

Financial metrics provide a snapshot view of a benchmark "average" company. Key business metrics show revenue and operating costs. The data collected covers both public and private companies.

Industry AveragePercent of Sales
(Industry Benchmark)
Total Revenue

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Operating Revenue
Cost of Goods Sold
Gross Profit

Operating Expenses
Pension, profit sharing plans, stock, annuity
Repairs
Rent paid on business property
Charitable Contributions
Depletion
Domestic production activities deduction
Advertising
Compensation of officers
Salaries and wages
Employee benefit programs
Taxes and Licenses
Bad Debts
Depreciation
Amortization
Other Operating Expenses
Total Operating Expenses
Operating Income
Non-Operating Income
EBIT (Earnings Before Interest and Taxes)
Interest Expense
Earnings Before Taxes
Income Tax
Net Profit
Net Income
 
Source: AnythingResearch Analysis of U.S. federal statistics




Financial Ratio Analysis

Financial ratio information can be used to benchmark how a Upholstered Household Furniture Manufacturing company compares to its peers. Accounting statistics are calculated from the industry-average for income statements and balance sheets.

Profitability & Valuation RatiosIndustry Average
Company valuation can be measured based on the firm's own performance, as well as in comparison against its industry competitors. These metrics show how the average company in the Upholstered Household Furniture Manufacturing industry is performing.
Profit Margin
Gross Profit Margin, Operating Profit Margin, and Net Profit Margin. Show company earnings relative to revenues.
Return on Equity (ROE)
Return on Equity (ROE) is net income as a percentage of shareholders' equity. Shareholders' Equity is defined as the company's total assets minus total liabilities. ROE shows how much profits a company generates with the money shareholders invested (or with retained earnings).
Return on Assets (ROA)
Return on Assets (ROA) is net income relative to total assets. The market research on Upholstered Household Furniture Manufacturing measures how efficiently the company leverages its assets to generate profit. ROA is calculated as Net Income divided by Total Assets.


Liquidity RatiosIndustry Average
Bankers and suppliers use liquidity to determine creditworthiness and identify potential threats to a company's financial viability.
Current Ratio
Measures a firm's ability to pay its debts over the next 12 months.
Quick Ratio (Acid Test)
Calculates liquid assets relative to liabilities, excluding inventories.


Efficiency Ratios - Key Performance IndicatorsIndustry Average
Measure how quickly products and services sell, and effectively collections policies are implemented.
Receivables Turnover Ratio
If this number is low in your business when compared to the industry average in the research report, it may mean your payment terms are too lenient or that you are not doing a good enough job on collections.
Average Collection Period
Based on the Receivables Turnover, this estimates the collection period in days. Calculated as 365 divided by the Receivables Turnover
Inventory Turnover
A low turnover rate may point to overstocking, obsolescence, or deficiencies in the product line or marketing effort.
Fixed-Asset Turnover
Generally, higher is better, since it indicates the business has less money tied up in fixed assets for each dollar of sales revenue.



Compensation & Salary Surveys for Employees

Compensation statistics provides an accurate assessment of industry-specific jobs and national salary averages. This information can be used to identify which positions are most common, and high, low, and average annual wages.

TitlePercent of WorkforceBottom Quartile Average (Median) SalaryUpper Quartile
Management Occupations 5%

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Chief Executives0%
General and Operations Managers2%
Office and Administrative Support Occupations 9%
Production Occupations 61%
Assemblers and Fabricators 13%
Miscellaneous Assemblers and Fabricators 12%
Textile, Apparel, and Furnishings Workers 7%
Woodworkers 26%
Cabinetmakers and Bench Carpenters 18%
Cabinetmakers and Bench Carpenters 18%
Other Production Occupations 8%
Transportation and Material Moving Occupations 8%
Material Moving Workers 6%
Source: Bureau of Labor Statistics


Upholstered Household Furniture Manufacturing Competitor Landscape & Key Companies [PREMIUM]

The most influential companies in the Upholstered Household Furniture Manufacturing industry and adjacent industries either have large market share or are developing new business models and methods that could disrupt the status quo. We look at leading and emerging companies in the Upholstered Household Furniture Manufacturing industry and adjacent sectors:

Market Leaders:
Direct Competitors

Companies with the largest market share, focused in this industry
Market leaders:
Diversified Competitors

Largest companies that have diversified operations in this and other industries
Innovators:
Direct Competitors

Innovative, Emerging, and Disruptive Companies that may influence the future direction of the industry.
Innovators:
Diversified Competitors

Innovators and Disruptors in adjacent industries that may also affect the Upholstered Household Furniture Manufacturing industry.
Source:
IncFact




Innovation News



Recent Federal Contracts for Upholstered Household Furniture Manufacturing

  • Feb 27, 2024: CENTURY FURNITURE, LLC (Hickory, NC) awarded $21,884
  • Feb 22, 2024: FEDERAL PRISON INDUSTRIES, INC (Lexington, KY) awarded $18,800
  • Feb 22, 2024: SUMMER CLASSICS COMMERCIAL SALES, LLC (Pelham, AL) awarded $31,208
  • Feb 12, 2024: ERIN ENERJI TAAHHUT INSAAT SANAYI VE TICARET LIMITED SIRKETI (Adana, ) awarded $14,605
  • Feb 09, 2024: OSTYN NEWMAN INC (Green Valley, AZ) awarded $23,940
  • Feb 06, 2024: HICKORY CHAIR LLC (Hickory, NC) awarded $20,263




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