|Standard Report||Premium Report|
|Current State of the Industry|
|Market Size (industry trends)|
|Market Forecast (5-year projection)|
|Revenue per State|
|Salary & Compensation Statistics|
|Public Company Information|
|Key Private Companies|
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2023 U.S. Industry Statistics & Market Forecast - Household & Institutional Furniture & Kitchen Cabinet Manufacturing
Market Size & Industry Statistics
The total U.S. industry market size for Household & Institutional Furniture & Kitchen Cabinet 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||2017 2018 2019 2020 2021 2022|
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|Average Revenue Per Firm|
|Average Employees Per Firm|
|Average Revenue Per Employee|
Market forecasts show the long term industry outlook and future growth trends. The following extended five-year / six-year demand forecast projects both short-term and long-term trends.
|Forecast / Industry Outlook||2023||2024||2025||2026||2027||2028|
|Market Forecast ($ millions)|
|Projected Industry Growth Rate (%)|
Industry InsightsThe furniture manufacturing industry is heavily influenced by consumer behavior, emerging technologies, and shifting market trends. Sustainability has become a key focus as consumers increasingly demand environmentally-friendly practices in furniture production. Circular economy models, waste reduction, and the use of recycled materials are becoming more common in the industry.
The rise of e-commerce has also had a significant impact on the furniture industry. Online retailers are growing rapidly, offering furniture at lower prices and disrupting the traditional brick-and-mortar model. Traditional manufacturers are adapting to this shift by investing in online platforms and creating digitally-enhanced furniture.
In addition, the concept of smart furniture is gaining traction. With the integration of smart home technology, furniture can now be designed to be more efficient and functional. For example, tables with charging stations and adjustable standing desks.
Rising labor costs in some countries, including China, have led some manufacturers to shift production to lower-cost regions such as Southeast Asia, Mexico, and Eastern Europe. And, with the ongoing Covid-19 pandemic, the industry experienced some disruptions such as supply chain challenges, increased health and safety regulations, and changes in consumer behavior.
Finally, customization and personalization are becoming more popular as consumers seek unique furniture that reflects their personal style. As a result, furniture manufacturers are offering customization options and design-your-own tools to meet this demand.
U.S. Geographic Distribution: Revenue Statistics by StateMarket 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.
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|
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|Cost of Goods Sold|
|Pension, profit sharing plans, stock, annuity|
|Rent paid on business property|
|Domestic production activities deduction|
|Compensation of officers|
|Salaries and wages|
|Employee benefit programs|
|Taxes and Licenses|
|Other Operating Expenses|
|Total Operating Expenses|
|EBIT (Earnings Before Interest and Taxes)|
|Earnings Before Taxes|
Financial Ratio AnalysisFinancial ratio information can be used to benchmark how a Household & Institutional Furniture & Kitchen Cabinet 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 Household & Institutional Furniture & Kitchen Cabinet Manufacturing industry is performing.|
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 Household & Institutional Furniture & Kitchen Cabinet 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.|
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
A low turnover rate may point to overstocking, obsolescence, or deficiencies in the product line or marketing effort.
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 EmployeesCompensation 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|
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|General and Operations Managers||2%|
|Office and Administrative Support Occupations||9%|
|Assemblers and Fabricators||13%|
|Miscellaneous Assemblers and Fabricators||12%|
|Textile, Apparel, and Furnishings Workers||7%|
|Cabinetmakers and Bench Carpenters||18%|
|Cabinetmakers and Bench Carpenters||18%|
|Other Production Occupations||8%|
|Transportation and Material Moving Occupations||8%|
|Material Moving Workers||6%|
Household & Institutional Furniture & Kitchen Cabinet Manufacturing Competitor Landscape & Key Companies [PREMIUM]The most influential companies in the Household & Institutional Furniture & Kitchen Cabinet 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 Household & Institutional Furniture & Kitchen Cabinet Manufacturing industry and adjacent sectors:
Companies with the largest market share, focused in this industry
|Market leaders: |
Largest companies that have diversified operations in this and other industries
Innovative, Emerging, and Disruptive Companies that may influence the future direction of the industry.
Innovators and Disruptors in adjacent industries that may also affect the Household & Institutional Furniture & Kitchen Cabinet Manufacturing industry.
Government ContractsIn 2022, the federal government spent a total of $618,739,213 on Household & Institutional Furniture & Kitchen Cabinet Manufacturing. It has awarded 4127 contracts to 464 companies, with an average value of $1,333,490 per company.
|Most Recent Contracts||Date||Total Award Amount|
|SCHOOLS IN LLC |
10839 Indeco Dr
Blue Ash, OH
|Jun 30, 2023||$7,055|