The Development Of Chinese Furniture Industry

December 11,2021

After nearly twenty years of development, China's furniture industry has formed a certain industrial scale, and the industry supply is relatively stable. In 2019, there were 6,410 enterprises above designated size in China's furniture manufacturing industry, with a cumulative output of 897 million pieces. However, after years of rapid development, the growth rate of furniture market has slowed down under the joint influence of the gradual downward trend of economy and the disappearance of demographic dividend.

 

On the one hand, after 2018, the revenue growth rate of China's furniture industry lags behind the national GDP growth rate; On the other hand, the import and export trade of China's furniture industry also declined year-on-year in 2019. Therefore, on the whole, the growth rate of market demand of China's furniture industry is gradually slowing down.

 

upholstery bed

 

Definition and classification of furniture manufacturing industry

 

Furniture manufacturing refers to the manufacturing of various furniture in any place such as residence, hotel, office, school, restaurant, hospital, theater, park, ship, airplane, motor vehicle, etc., which is made of wood, metal, plastic, bamboo, rattan and other materials and has the functions of sitting, leaning, storing and spacing. According to different materials, industry products can be divided into five categories: wooden furniture; bamboo and rattan furniture; metal furniture; plastic furniture and other furniture.

 

Supply status

 

After nearly twenty years of development, China's furniture industry has formed a certain industrial scale, and the industry supply is relatively stable. On the one hand, from 2016 to 2019, the number of enterprises above certain scale in China's furniture manufacturing industry increased year by year; On the other hand, in recent years, the output of the industry has been roughly maintained at about 700-800 million pieces, with little change in the year-on-year growth rate. In 2019, there were 6,410 enterprises above certain scale in China's furniture manufacturing industry, with a cumulative output of 897 million pieces.

 

Note: Due to the adjustment of the statistical caliber of the National Bureau of Statistics in 2018, the year-on-year growth rate has changed

 

Demand status

 

With the steady development of China's economy and the improvement of people's living standards, the scale of furniture market continues to expand, but up to now, the market demand is weak. The data shows that from 2016 to 2017, the revenue growth rate of China's furniture industry is faster than the GDP growth rate; However, since 2018, the revenue growth rate of furniture industry has slowed down and gradually lagged behind the national GDP growth rate. In the first quarter of 2020, affected by the epidemic, the growth rate of operating income of furniture manufacturing industry dropped to 23.7%.

 

At the same time, in terms of import and export trade, in 2019, the total imports of furniture products in China also decreased by 16.10% year-on-year; From 2015 to 2019, the export delivery value of China's furniture manufacturing industry also showed an overall downward trend. Therefore, on the whole, the growth rate of market demand in China's furniture industry is gradually slowing down.

 

The above data comes from the Analysis Report on Market Demand Forecast and Investment Strategic Planning of China's Furniture Industry by Prospective Industry Research Institute, which provides solutions such as industrial big data, industrial planning, industrial declaration, industrial park planning and industrial investment attraction.

 

We are a professional upholstery bed manufacturer and wholesaler so if you have any needs please feel free to contact us.

 

 

SHARE US: