Industry Analysis & Industry Trends
The Wooden Furniture and Upholstered Seat Manufacturing industry is the largest industry in the local furniture manufacturing sector, accounting for 60% to 70% of local furniture production and employment. Industry activity peaked in the mid-2000s and has since trended sharply downwards as exchange rate appreciation has significantly eroded the capacity of local manufacturers to compete with imports and non-wooden furniture substitutes. The price of local furniture components (e.g. leather, textiles, metal fasteners and springs) has increased, while the price of imported furniture products has decreased.
Industry revenue is expected to total $2.8... purchase to read more
Industry Report - Industry Products Chapter
The total market for wooden furniture and upholstered seating is divided into three key product segments: upper, middle and lower. These segments are determined by price, quality and design. Demand formation differs in each segment of the market. Further to price and quality segmentation, furniture products fall into three main categories: upholstered furniture, non-upholstered wooden pieces, and wooden furniture carcasses. Upholstered furniture accounts for about 40% of the value of industry production and includes lounge, kitchen, dining and bedroom furniture. Upholstered furniture typically has a higher value add per unit than most other furniture pieces... purchase to read more