With the U.S. economy bouncing back, we should expect great things for the furniture manufacturing industry this year.
As we take a look back over McCourt Manufacturing’s very successful years in this business, we anticipate a continued rise in our success due to our quality products and talented workers. To that end, we’d thought we’d share some of the commercial reports based on early market trends in the industry for 2017. There have been some positive changes predicted, which spells good news for potential buyers and manufacturers.
According to the most recent global report made in 2016, America is the second largest contributor to furniture manufacturing the world over.
TBRC Business Research reports that we make up 36% of the furniture manufacturing market, only 4 percentage points behind Asia’s 40%, with China and India being their largest contributors. Europe comes in third, making up only 22% of the market share.
According to USA Today we’re looking to close in on those last few percentage points in the coming days. Many U.S. companies have moved their manufacturing businesses to foreign countries such as China, with their lower labor costs and less strict regulations. But in recent reports, it looks as if those same companies are bringing those manufacturing jobs back to the U.S. after overestimating overseas savings by as much as 30%. International shipping rates and the steady increase in the cost of wages has made offshore production a less attractive prospect than it once was.
Harry Moser, the founder and president of Reshoring Initiative, agreed with this assessment. The Reshoring Initiative is a nonprofit organization dedicated to bringing manufacturing jobs back to the United States. Moser also added that, “Many have done it because of the consumer preference for made in America products.”
Check out our inventory of American Made products like our Laminate Folding Tables!
Increased industry demand has ensured that America is the one of the fastest growing furniture manufacturing markets. A recent report by Technavio (an independent global market research firm) stated that furniture manufacturers could expect a 20% increase in demand just this year.
This steady increase in demand has enabled manufacturers to branch out into other areas of manufactured products. McCourt Manufacturing offers a variety of options beyond premium furnishings such as our Hospitality Chairs or Commercialite™ Tables.
Some of these exclusive items include:
This diversification of manufactured goods in the furniture industry helps to expand businesses and offers up more choices for potential buyers. McCourt Manufacturing has always had a knack for functional, eye-catching designs. Take a look at our online catalog to see our new exclusive products!
McCourt Manufacturing has been a leader in the furniture industry for over 30 years and we’re planning on being your #1 manufacturer for many more. We have a reputation for quality designs and excellent service, so give us a call at 479-783- 2593 or 800-333- 2687! Remember to browse our online catalog and check out our latest American Made product line!