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2019 U.S. Industry Statistics & Market Research - Furniture Manufacturing
Overview: the U.S. Furniture Manufacturing Industry
This market research report provides answers to key questions about the industry:What is the total market size (industry revenue)?
This report shows the total market size for the Furniture Manufacturing industry, comprised of total revenues of both public and private companies over the last six years (2013-2018), current year estimates, and outlook to 2024.
What is the industry outlook?
The industry Outlook and Forecasts show how the Furniture Manufacturing industry is heading over the next six years (2019-2024). Market forecasts account for historical growth, cyclical changes, and general economic outlook.
Market Analysis: Is the market growing or declining, and how quickly?
The Market Analysis section shows the five-year growth trends for Furniture Manufacturing, year-by-year from 2013-2018.
Are long-term forecasts positive or negative?
Forecasts for 2019-2024 for the industry show the future growth and market opportunity for Furniture Manufacturing companies.
"We further believe that we effectively compete on the basis of each of these factors and that, more specifically under our vertical structure, our complimentary interior design service, direct manufacturing, white glove delivery service, product presentations, and website create a competitive advantage, further supporting our mission of providing consumers with a complete home decorating and design solution..."
What is the average company size in the industry?
The average number of employees and average revenue for a typical Furniture Manufacturing company is charted over time for the last five years to the present.
How many companies are in the industry?
Track how many companies compete in the Furniture Manufacturing industry, and how the number of companies has changed over the past five years.
Market Size & Industry Statistics
The total U.S. industry market size for 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.
| Statistics | 2013 2014 2015 2016 2017 2018 | |
|---|---|---|
| Market Size (Total Sales/Revenue) |
Order at top of page | |
| Total Firms | ||
| Total Employees | ||
| Average Revenue Per Firm | ||
| Average Employees Per Firm | ||
| Average Revenue Per Employee | ||
Market Forecast
Market forecasts show the long term industry outlook and future growth trends. The following five-year demand forecast projects both short-term and long-term trends.
| Forecast / Industry Outlook | 2019E | 2020 | 2021 | 2022 | 2023 | 2024 |
|---|---|---|---|---|---|---|
| Market Forecast ($ millions) | ||||||
| Projected Industry Growth Rate (%) | ||||||
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.
Furniture Manufacturing Industry Price Trends
Rise and fall in market prices are affectedd by supply, demand, and the cost of goods/services sold. Higher demand or COGS will put upward price pressure on prices. Higher competition among Furniture Manufacturing companies will put a downward pressure on prices. The chart shows how prices are changing within the industry, month-to-month over the last three years.
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 Average | Percent of Sales (Industry Benchmark) | |
|---|---|---|
| Total Revenue | Order at top of page |
|
| 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 | ||
Financial Ratio Analysis
Financial ratio information can be used to benchmark how a Furniture Manufacturing company compares to its peers. Accounting statistics are calculated from the industry-average for income statements and balance sheets.| Profitability & Valuation Ratios | Industry 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 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 Furniture Manufacturing measures how efficiently the company leverages its assets to generate profit. ROA is calculated as Net Income divided by Total Assets. |
|
| Liquidity Ratios | Industry 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 Indicators | Industry 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 |
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| Inventory Turnover A low turnover rate may point to overstocking, obsolescence, or deficiencies in the product line or marketing effort. |
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| 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. |
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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.| Title | Percent of Workforce | Bottom Quartile | Average (Median) Salary | Upper Quartile |
|---|---|---|---|---|
| Management Occupations | 4% | Order at top of page |
||
| Chief Executives | 0% | |||
| General and Operations Managers | 2% | |||
| Office and Administrative Support Occupations | 10% | |||
| Material Recording, Scheduling, Dispatching, and Distributing Workers | 5% | |||
| Production Occupations | 64% | |||
| Assemblers and Fabricators | 12% | |||
| Miscellaneous Assemblers and Fabricators | 12% | |||
| Assemblers and Fabricators, All Other, Including Team Assemblers | 11% | |||
| Textile, Apparel, and Furnishings Workers | 8% | |||
| Sewing Machine Operators | 10% | |||
| Sewing Machine Operators | 10% | |||
| Woodworkers | 27% | |||
| Cabinetmakers and Bench Carpenters | 18% | |||
| Cabinetmakers and Bench Carpenters | 18% | |||
| Woodworking Machine Setters, Operators, and Tenders | 7% | |||
| Woodworking Machine Setters, Operators, and Tenders, Except Sawing | 5% | |||
| Other Production Occupations | 8% | |||
| Transportation and Material Moving Occupations | 7% | |||
| Material Moving Workers | 6% | |||
Furniture Manufacturing Competitor Landscape & Key Companies [PREMIUM]
The most influential companies in the 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 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 Furniture Manufacturing industry. |
Source:
Executive Briefings
bedding industry, including mattresses and foundations, is a mature and generally stable industry. According to the International Sleep Products Association (ISPA), the industry has grown by approximately 4% annually over the last 20 years and at an estimated 4% annually, on average, over the past five years. We believe that industry unit growth has been primarily driven by population growth, an increase in the number of homes (including secondary residences) and the increased size of homes. We believe growth in average wholesale prices resulted from a shift to both larger and higher-quality beds, which are typically more expensive. According to ISPA and Company estimates, industry wholesale shipments of mattresses and foundations (excluding adjustable bases) were approximately $8.2 billion in 2018 compared to $8.4 billion in 2017. Furniture/Today, a furniture industry trade publication, has ranked Sleep Number as the 5th largest mattress manufacturer and 2nd largest U.S. bedding retailer for 2017, with an 8% market share of industry retail revenue. The retail bedding industry is fragmented and highly competitive. Our Company-Controlled distribution channel is exclusive, and we compete against regional and local specialty bedding retailers, home furnishing stores, mass merchants, national discount stores and online marketers. Our consumer innovation strategy with exclusive distribution is highly differentiated, and results in a retail-leading customer experience. Manufacturers in the bedding industry compete on price, quality, brand name recognition, product availability and product performance, including the perceived levels of comfort and support provided by a mattress. There is a high degree of concentration among manufacturers, who produce innerspring, memory foam and hybrid beds, under nationally recognized brand names, including Tempur Sealy, Stearns Select Comfort
Government Contracts
In 2018, the federal government spent a total of $928,243,927 on Furniture Manufacturing. It has awarded 19319 contracts to 1889 companies, with an average value of $491,394 per company.| Most Recent Contracts | Date | Total Award Amount |
|---|---|---|
| METRO OFFICE SOLUTIONS, INC. 4692 Millennium Dr Ste 420 Belcamp, MD | Dec 01, 2019 | $4,551 |
| HERMAN MILLER, INC. 855 E Main Ave Zeeland, MI | Nov 29, 2019 | $14,658 |
| INDIANA FURNITURE INDUSTRIES, 1224 Mill St Jasper, IN | Nov 29, 2019 | $17,634 |
| CONTRACT DESIGN GROUP, INC 6301 Sw 9th St Ste 1 Topeka, KS | Nov 29, 2019 | $1,310 |
| BRITE VISUAL PRODUCTS, INC. 270 Centre St Holbrook, MA | Nov 29, 2019 | $3,774 |
| NATIONAL INDUSTRIES FOR THE BLIND 3000 Potomac Ave Alexandria, VA | Nov 29, 2019 | $5,557 |
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