$23.5bn
$XXX.Xm
126k
3,929
$X.Xbn
New furniture sales have been declining, a trend enhanced by the 2020 pandemic. During the early stages of the pandemic, manufacturers experienced a boom in sales, as low interest rates and high disposable income supported the residential market through gains in housing starts and existing home sales. Consumers often purchase new pieces to furnish their homes after moving. However, high inflation and elevated interest rates caused the residential sector to slow down, reversing the 2021 gains. These factors caused revenue to fall at an estimated CAGR of 4.8% to $23.5 billion over the past five years, including a 4.7% lag in 2023 alone.
Industry revenue has declined at a CAGR of 4.8 % over the past five years, to reach an estimated $23.5bn in 2023.
Market size is projected to grow over the next five years.
Company | Market Share (%)
2023 | Revenue ($m)
2023 | Profit ($m)
2023 | Profit Margin (%)
2023 |
---|---|---|---|---|
Ashley Furniture Industries, Inc. | 4,972.0 | 154.0 | 3.1 | |
La-Z-Boy Incorporated | 1,395.5 | 144.1 | 10.3 | |
Ameriwood Home | 883.0 | 27.4 | 3.1 |
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Industry revenue is measured across several distinct product and services lines, including Upholstered household furniture, Metal household furniture and Other. Upholstered household furniture is the largest segment of the Household Furniture Manufacturing in the US.
Upholstered furniture is mostly domestic
This industry manufactures a range of furniture for personal, household and public use. Public furniture is used for hospitals, theaters, cafeterias, schools and other facilities. Furniture may be made on a stock or custom basis and may be sold assembled or unassembled.
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NAICS 33712 - Household Furniture Manufacturing in the US
Get an indication of the industry's health through historical, current and forward-looking trends in the performance indicators that make or break businesses.
Prominent import penetration harms domestic manufacturers. Domestic producers struggle to compete with lower production costs overseas, enabling foreign producers to capture ...
Learn about an industry's products and services, markets and trends in international trade.
Upholstered furniture generates the most revenue. These pieces are often heavier than other furniture, resulting in most of this furniture being produced or assembled domesti...
Discover where business activity is most concentrated in an industry and the factors driving these trends to find opportunities and conduct regional benchmarking.
Manufacturers base operations near highly populated areas. This provides them with proximity to more downstream consumers, boosting sales and lowering transportation costs.
Get data and insights on what's driving competition in an industry and the challenges industry operators and new entrants may face, with analysis built around Porter's Five Forces framework.
Domestic producers face strong competition from imports. A strong US dollar has enhanced this trend by making imported furniture more affordable for domestic consumers.
Learn about the performance of the top companies in the industry.
Ashley Furniture acquires a logistics company. The company aims to expand its shipping capabilities by acquiring the western division of Wilson Logistics to better serve the ...
Understand the demographic, economic and regulatory factors that shape how businesses in an industry perform.
Housing starts and existing home sales fall amid macroeconomic conditions. This trend harms manufacturers, as consumers tend to purchase new pieces when moving.
View average costs for industry operators and compare financial data against an industry's financial benchmarks over time.
Making high-quality products is a labor intensive process. Manufacturers rely heavily on human labor to design, produce and assemble furniture.
Including values and annual change:
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Key data sources in the US include:
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These sources include:
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The market size of the Household Furniture Manufacturing in the US industry in United States is $23.5bn in 2024.
There are 3,929 businesses in the Household Furniture Manufacturing in the US industry in United States, which has grown at a CAGR of 0.3 % between 2018 and 2023.
The market size of the Household Furniture Manufacturing in the US industry in United States has been declining at a CAGR of 4.8 % between 2018 and 2023.
Over the next five years, the Household Furniture Manufacturing in the US industry in United States is expected to grow.
The biggest companies operating in the Household Furniture Manufacturing market in United States are Ashley Furniture Industries, Inc., La-Z-Boy Incorporated and Ameriwood Home
Upholstered household furniture manufacturing and Non-upholstered wood household furniture manufacturing are part of the Household Furniture Manufacturing in the US industry.
The company holding the most market share in United States is Ashley Furniture Industries, Inc..
The level of competition is high and steady in the Household Furniture Manufacturing in the US industry in United States.