|SIC Codes:||2512 2511 2434 2426 2514 2541 2531 2517 2519 2521 2522|
|NAICS Codes:||321999 337124 337122 337121 337110 337125 337215 337214 337127 337211 337212|
Companies in this industry manufacture household, office, and institutional furniture and related products, including mattresses. Major companies include Heritage Home Group, Herman Miller, HNI, La-Z-Boy, Leggett & Platt, Steelcase, and Tempur Sealy (all based in the US), along with Hunter Douglas and IKEA (both in the Netherlands), Natuzzi (Italy), Okamura Corporation (Japan), and Samson Holding (China).
The volume of home furniture sold depends heavily on the level of home sales, while office furniture sales depend on the health of the US economy overall. The profitability of individual companies is closely linked to volume, since many costs are fixed. Large companies enjoy economies of scale in purchasing. Small companies can compete effectively if they produce specialty items or high-quality workmanship that can sell for a premium price. Some segments, such as mattress manufacturing and office furniture manufacturing, are highly concentrated, but the US industry as a whole is fragmented: the largest 50 companies generate about 40% of revenue.
Major product categories include household furniture (about 45% of US industry revenue), office furniture (about 25%), and mattresses, shades, and blinds (about 15%), custom architectural woodwork and millwork (about 10%), and institutional furniture (about 5%).Buy Now