Northern America: Wooden Bedroom Furniture Market 2024

Wooden Bedroom Furniture Market Size in Northern America

In 2022, the North American wooden bedroom furniture market increased by 9.2% to $X, rising for the second consecutive year after five years of decline. In general, consumption, however, showed a noticeable setback. The level of consumption peaked at $X in 2012; however, from 2013 to 2022, consumption remained at a lower figure.

Wooden Bedroom Furniture Production in Northern America

In value terms, wooden bedroom furniture production fell to $X in 2022 estimated in export price. In general, production continues to indicate a deep reduction. The pace of growth appeared the most rapid in 2021 when the production volume increased by 11% against the previous year. Over the period under review, production reached the peak level at $X in 2012; however, from 2013 to 2022, production remained at a lower figure.

Wooden Bedroom Furniture Exports

Exports in Northern America

Wooden bedroom furniture exports declined to X units in 2022, falling by -13.5% compared with the previous year's figure. In general, exports saw a noticeable setback. The most prominent rate of growth was recorded in 2019 when exports increased by 23%. As a result, the exports reached the peak of X units. From 2020 to 2022, the growth of the exports remained at a somewhat lower figure.

In value terms, wooden bedroom furniture exports reduced to $X in 2022. The total export value increased at an average annual rate of +2.6% over the period from 2012 to 2022; however, the trend pattern indicated some noticeable fluctuations being recorded in certain years. The growth pace was the most rapid in 2021 when exports increased by 19%. As a result, the exports attained the peak of $X, and then fell in the following year.

Exports by Country

Canada represented the key exporting country with an export of about X units, which recorded 76% of total exports. It was distantly followed by the United States (X units), making up a 24% share of total exports.

Canada was also the fastest-growing in terms of the wooden furniture of a kind used in the bedroom exports, with a CAGR of +3.5% from 2012 to 2022. The United States (-11.4%) illustrated a downward trend over the same period. While the share of Canada (+36 p.p.) increased significantly in terms of the total exports from 2012-2022, the share of the United States (-36.2 p.p.) displayed negative dynamics.

In value terms, the largest wooden bedroom furniture supplying countries in Northern America were the United States ($X) and Canada ($X).

Canada, with a CAGR of +4.5%, recorded the highest growth rate of the value of exports, in terms of the main exporting countries over the period under review.

Export Prices by Country

The export price in Northern America stood at $X per unit in 2022, increasing by 6.6% against the previous year. Over the period under review, the export price recorded a prominent expansion. The pace of growth was the most pronounced in 2020 an increase of 66%. The level of export peaked in 2022 and is likely to see gradual growth in the immediate term.

There were significant differences in the average prices amongst the major exporting countries. In 2022, amid the top suppliers, the country with the highest price was the United States ($X per unit), while Canada totaled $X per unit.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by the United States (+14.3%).

Wooden Bedroom Furniture Imports

Imports in Northern America

After six years of growth, purchases abroad of wooden furniture of a kind used in the bedroom decreased by -0.2% to X units in 2022. Total imports indicated a prominent expansion from 2012 to 2022: its volume increased at an average annual rate of +6.5% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, imports increased by +50.6% against 2014 indices. The pace of growth appeared the most rapid in 2014 when imports increased by 23% against the previous year. The volume of import peaked at X units in 2021, and then dropped modestly in the following year.

In value terms, wooden bedroom furniture imports reached $X in 2022. The total import value increased at an average annual rate of +3.9% from 2012 to 2022; however, the trend pattern indicated some noticeable fluctuations being recorded throughout the analyzed period. The pace of growth appeared the most rapid in 2021 when imports increased by 14% against the previous year. The level of import peaked in 2022 and is expected to retain growth in the near future.

Imports by Country

The United States dominates imports structure, accounting for X units, which was near 94% of total imports in 2022. It was distantly followed by Canada (X units), comprising a 6% share of total imports.

The United States was also the fastest-growing in terms of the wooden furniture of a kind used in the bedroom imports, with a CAGR of +6.9% from 2012 to 2022. At the same time, Canada (+1.5%) displayed positive paces of growth. While the share of the United States (+3.8 p.p.) increased significantly in terms of the total imports from 2012-2022, the share of Canada (-3.7 p.p.) displayed negative dynamics.

In value terms, the United States ($X) constitutes the largest market for imported wooden furniture of a kind used in the bedroom in Northern America, comprising 91% of total imports. The second position in the ranking was taken by Canada ($X), with a 9% share of total imports.

From 2012 to 2022, the average annual growth rate of value in the United States amounted to +4.1%.

Import Prices by Country

The import price in Northern America stood at $X per unit in 2022, with an increase of 14% against the previous year. In general, the import price, however, saw a pronounced descent. Over the period under review, import prices attained the peak figure at $X per unit in 2013; however, from 2014 to 2022, import prices stood at a somewhat lower figure.

Prices varied noticeably by country of destination: amid the top importers, the country with the highest price was Canada ($X per unit), while the United States amounted to $X per unit.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Canada (+0.8%).

Source: IndexBox Platform

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