|SIC Codes:||2426 2434 2511 2512 2514 2517 2519 2521 2522 2531 2541|
|NAICS Codes:||321999 337110 337121 337122 337124 337125 337127 337211 337212 337214 337215|
Companies in this industry manufacture products such as wood and metal household, office, and institutional furniture; mattresses; wood kitchen cabinets; and commercial showcases and shelving. Major companies include Furniture Brands International, Herman Miller, HNI, La-Z-Boy, Leggett & Platt, Steelcase, and Tempur Sealy (all based in the US), along with Hunter Douglas (the Netherlands), IKEA (Sweden), 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 percent of revenue.
Major product categories include household furniture (about 50 percent of industry revenue), office furniture (about 35 percent), and mattresses, shades, and blinds (about 15 percent).Buy Now