U.S.: Household Furniture Market 2024

Household Furniture Market Size in the U.S.

In 2022, the U.S. household furniture market increased by X% to $X, rising for the third consecutive year after two years of decline. Overall, consumption recorded a significant expansion. Over the period under review, the market attained the maximum level in 2022 and is expected to retain growth in years to come.

Household Furniture Production in the U.S.

In value terms, household furniture production shrank slightly to $X in 2022. In general, the total production indicated perceptible growth from 2013 to 2022: its value increased at an average annual rate of X% over the last nine years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, production increased by X% against 2020 indices. The most prominent rate of growth was recorded in 2017 with an increase of X% against the previous year. Household furniture production peaked at $X in 2018; however, from 2019 to 2022, production stood at a somewhat lower figure.

Household Furniture Exports

Exports from the U.S.

For the third year in a row, the United States recorded growth in overseas shipments of household furniture (except wood and metal), which increased by X% to X units in 2022. In general, exports saw a significant increase. The growth pace was the most rapid in 2020 with an increase of X%. The exports peaked in 2022 and are likely to continue growth in years to come.

In value terms, household furniture exports rose modestly to $X in 2022. Over the period under review, exports recorded a relatively flat trend pattern. The pace of growth was the most pronounced in 2021 with an increase of X% against the previous year. Over the period under review, the exports attained the maximum at $X in 2016; however, from 2017 to 2022, the exports remained at a lower figure.

Exports by Country

Honduras (X units), Mexico (X units) and Costa Rica (X units) were the main destinations of household furniture exports from the United States, together comprising X% of total exports. El Salvador, Canada, China, Poland, Panama, Venezuela, Nicaragua, Bahamas, Vietnam and Cameroon lagged somewhat behind, together comprising a further X%.

From 2013 to 2022, the biggest increases were recorded for El Salvador (with a CAGR of X%), while shipments for the other leaders experienced more modest paces of growth.

In value terms, Canada ($X) remains the key foreign market for household furniture (except wood and metal) exports from the United States, comprising X% of total exports. The second position in the ranking was held by Mexico ($X), with a X% share of total exports. It was followed by Venezuela, with a X% share.

From 2013 to 2022, the average annual rate of growth in terms of value to Canada totaled X%. Exports to the other major destinations recorded the following average annual rates of exports growth: Mexico (X% per year) and Venezuela (X% per year).

Export Prices by Country

The average household furniture export price stood at $X per unit in 2022, which is down by X% against the previous year. In general, the export price showed a precipitous shrinkage. The pace of growth was the most pronounced in 2015 an increase of X%. The export price peaked at $X per unit in 2016; however, from 2017 to 2022, the export prices remained at a lower figure.

Prices varied noticeably by country of destination: amid the top suppliers, the country with the highest price was Canada ($X per unit), while the average price for exports to Poland ($X per unit) was amongst the lowest.

From 2013 to 2022, the most notable rate of growth in terms of prices was recorded for supplies to Venezuela (X%), while the prices for the other major destinations experienced a decline.

Household Furniture Imports

Imports into the U.S.

In 2022, overseas purchases of household furniture (except wood and metal) increased by X% to X units, rising for the third consecutive year after two years of decline. Overall, imports saw significant growth. The most prominent rate of growth was recorded in 2020 when imports increased by X%. Over the period under review, imports hit record highs in 2022 and are likely to continue growth in the near future.

In value terms, household furniture imports rose sharply to $X in 2022. In general, imports enjoyed a remarkable increase. The most prominent rate of growth was recorded in 2015 with an increase of X% against the previous year. Over the period under review, imports attained the peak figure in 2022 and are expected to retain growth in the near future.

Imports by Country

In 2022, China (X units) constituted the largest supplier of household furniture to the United States, with a X% share of total imports. Moreover, household furniture imports from China exceeded the figures recorded by the second-largest supplier, Vietnam (X units), sevenfold. The third position in this ranking was taken by Canada (X units), with a X% share.

From 2013 to 2022, the average annual growth rate of volume from China amounted to X%. The remaining supplying countries recorded the following average annual rates of imports growth: Vietnam (X% per year) and Canada (X% per year).

In value terms, China ($X) constituted the largest supplier of household furniture (except wood and metal) to the United States, comprising X% of total imports. The second position in the ranking was taken by Vietnam ($X), with a X% share of total imports. It was followed by Canada, with a X% share.

From 2013 to 2022, the average annual rate of growth in terms of value from China amounted to X%. The remaining supplying countries recorded the following average annual rates of imports growth: Vietnam (X% per year) and Canada (X% per year).

Import Prices by Country

The average household furniture import price stood at $X per unit in 2022, increasing by X% against the previous year. In general, the import price, however, recorded a deep slump. The pace of growth was the most pronounced in 2015 when the average import price increased by X%. The import price peaked at $X per unit in 2018; however, from 2019 to 2022, import prices remained at a lower figure.

Prices varied noticeably by country of origin: amid the top importers, the country with the highest price was Malaysia ($X per unit), while the price for Taiwan (Chinese) ($X per unit) was amongst the lowest.

From 2013 to 2022, the most notable rate of growth in terms of prices was attained by Malaysia (X%), while the prices for the other major suppliers experienced a decline.

Source: IndexBox Platform

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