$29.2bn
$XXX.Xm
104k
3,594
$X.Xbn
Office furniture manufacturing has endured significant volatility, with revenue declining over the years leading up to 2024. Macroeconomic instability in recent years – including spiking unemployment, jumping interest rates, rising office rental vacancies and declining value of private nonresidential construction<span class="ui-provider a b c d e f g h i j k l m n o p q r s t u v w x y z ab ac ae af ag ah ai aj ak"> – </span> have contributed to weaker demand for new office furniture. Similarly, work-from-home and hybrid working trends have harmed demand for domestic producers. Basic, low-cost, mass-produced furniture items endure heightened competition from more affordable imports, particularly those from China. At the same time, exports have declined amid the recent appreciation of the US dollar. These trends have caused revenue to weaken at an estimated CAGR of 2.6% to $29.2 billion, including a minor gain of 0.1% that year alone.
Industry revenue has declined at a CAGR of 2.6 % over the past five years, to reach an estimated $29.2bn in 2024.
Market size is projected to grow over the next five years.
Company | Market Share (%)
2024 | Revenue ($m)
2024 | Profit ($m)
2024 | Profit Margin (%)
2024 |
---|---|---|---|---|
Steelcase Inc. | 2,335.6 | 16.9 | 0.7 | |
Millerknoll, Inc. | 1,540.8 | 188.4 | 12.2 | |
Hni Corporation | 1,487.0 | 88.0 | 5.9 |
To view the market share and analysis for all 54 top companies in this industry, view purchase options.
Office Furniture Manufacturing in the US
Industry revenue is measured across several distinct product and services lines, including Custom architectural features, Seating and Desks and accessories. Custom architectural features is the largest segment of the Office Furniture Manufacturing in the US.
The custom architectural features and woodwork segment's growth has been dampened by falling nonresidential construction
Operators in the Office Furniture Manufacturing industry manufacture a wide range of office furniture, including bookcases, cabinets, chairs, desks and filing cabinets. This industry also manufactures office and store fixtures, such as cafeteria countertops (except kitchen and bathroom), furniture parts and partitions. Furniture may be ordered predesigned or customized, and may be sold assembled or unassembled.
Purchase this report to view all 54 major companies in this industry.
NAICS 33721 - Office 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.
A recovering nonresidential sector has kickstarted revenue growth. Improving macroeconomic conditions, including rising corporate profit and lower unemployment, creates growt...
Learn about an industry's products and services, markets and trends in international trade.
Custom office furniture offers a silver lining for manufacturers. Unlike generic furniture, custom orders don't face as much competition from imports and have maintained stea...
Discover where business activity is most concentrated in an industry and the factors driving these trends to find opportunities and conduct regional benchmarking.
The Southwest's large population generates steady demand for furniture. Highly populated centers in the region attract customers and offer a large labor pool for furniture pr...
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.
Most of the industry is comprised of many small manufacturers. These players sell niche products or generic furniture that competes with imports, preventing them from capturi...
Learn about the performance of the top companies in the industry.
The industry is highly fragmented. Smaller companies face intense price competition from imports as they often produce generic furniture at a lower cost.
Understand the demographic, economic and regulatory factors that shape how businesses in an industry perform.
The economic recovery is driving revenue growth. Rising corporate profits, lower unemployment and falling office rental vacancies are helping manufacturers recover from the p...
View average costs for industry operators and compare financial data against an industry's financial benchmarks over time.
Rising operating costs are hurting profit. Labor and purchase expenses have increased recently due to the need for skilled workers and major supply chain disruptions, negativ...
Including values and annual change:
IBISWorld has been a leading provider of trusted industry research for over 50 years to the most successful companies worldwide. With offices in Australia, the United States, the United Kingdom, Germany and China, we are proud to have local teams of analysts that conduct research, data analysis and forecasting to produce data-driven industry reports.
Our analysts start with official, verified and publicly available sources of data to build the most accurate picture of each industry. Analysts then leverage their expertise and knowledge of the local markets to synthesize trends into digestible content for IBISWorld readers. Finally, each report is reviewed by one of IBISWorld’s editors, who provide quality assurance to ensure accuracy and readability.
IBISWorld relies on human-verified data and human-written analysis to compile each standard industry report. We do not use generative AI tools to write insights, although members can choose to leverage AI-based tools within the platform to generate additional analysis formats.
Each industry report incorporates data and research from government databases, industry-specific sources, industry contacts, and our own proprietary database of statistics and analysis to provide balanced, independent and accurate insights.
Key data sources in the US include:
Analysts also use industry specific sources to complement catch-all sources, although their perspective may focus on a particular organization or representative body, rather than a clear overview of all industry operations. However, when balanced against other perspectives, industry-specific sources provide insights into industry trends.
These sources include:
Finally, IBISWorld’s global data scientists maintain a proprietary database of macroeconomic and demand drivers, which our analysts use to help inform industry data and trends. They also maintain a database of statistics and analysis on thousands of industries, which has been built over our more than 50-year history and offers comprehensive insights into long-term trends.
IBISWorld’s analysts and data scientists use the sources above to create forecasts for our proprietary datasets and industry statistics. Depending on the dataset, they may use regression analysis, multivariate analysis, time-series analysis or exponential smoothing techniques to project future data for the industry or driver. Additionally, analysts will leverage their local knowledge of industry operating and regulatory conditions to impart their best judgment on the forecast model.
IBISWorld prides itself on being a trusted, independent source of data, with over 50 years of experience building and maintaining rich datasets and forecasting tools. We are proud to be the keystone source of industry information for thousands of companies across the world.
Learn more about our methodology and data sourcing on the Help Center.
Unlock comprehensive answers and precise data upon purchase. View purchase options.
The market size of the Office Furniture Manufacturing in the US industry in United States is $29.2bn in 2024.
There are 3,594 businesses in the Office Furniture Manufacturing in the US industry in United States, which has grown at a CAGR of 0.4 % between 2019 and 2024.
The market size of the Office Furniture Manufacturing in the US industry in United States has been declining at a CAGR of 2.6 % between 2019 and 2024.
Over the next five years, the Office Furniture Manufacturing in the US industry in United States is expected to grow.
The biggest companies operating in the Office Furniture Manufacturing market in United States are Steelcase Inc., Millerknoll, Inc. and Hni Corporation
Manufacturing office furniture and Manufacturing custom architectural woodwork and other fixtures are part of the Office Furniture Manufacturing in the US industry.
The company holding the most market share in United States is Steelcase Inc..
The level of competition is moderate and increasing in the Office Furniture Manufacturing in the US industry in United States.