Analysis of the development status and development trend of Chinese furniture industry under the new crown epidemic

China Business Intelligence News: The new crown epidemic impacts the furniture industry: on the one hand, foreign timber cannot enter China, causing timber prices to rise, on the other hand, the real estate market is weak, and domestic furniture is in a trough of consumption. The epidemic will eliminate some weak small enterprises, but the market stock of the furniture industry in 2020 should not change, so large companies and brand companies that can survive have more opportunities. With the normalization of epidemic prevention and control, and the increasing demand for home life in epidemic homes, there will be an explosive growth in the second half of the year, and the Chinese furniture industry will develop in the direction of intelligence in the future.

Analysis of the current status of the furniture industry

1. Number of furniture enterprises

my country has a large number of furniture companies. In recent years, my country's furniture industry is constantly reshuffling and integrating. The number of enterprises above designated size is growing rapidly. According to data from the China Furniture Association, my country's furniture enterprises above designated size reached 6410 in 2019.

Source: China Furniture Association, China Commerce Industry Research Institute

2. Distribution of furniture industry development zones

According to incomplete statistics, China Merchants Industrial Research Institute sorted out 32 domestic furniture development zones. According to statistics, domestic furniture development zones are mainly located in the eastern coastal areas, central areas, and also in the southwestern areas. According to the number of development zones, the province and city with the largest number of furniture development zones is Guangdong, with a total of five. The layout of the furniture industry in Guangdong is perfect. For example, Shunde furniture is well-known at home and abroad, with a perfect industrial chain, forming a pan-Shunde furniture industry circle with Shunde as the core area.

Followed by Zhejiang Province, there are 4 furniture development zones; Jiangxi Province, Hebei Province Furniture Development Zones each have 3; Sichuan Province, Anhui Province, Hunan Province, Shandong Province, Jiangsu Province each have 2; other provinces and cities are 1 Pcs.


Data source: collated by China Business Research Institute

3. Furniture output

From 2013 to 2017, the output of my country's furniture industry is increasing. In 2018, the country adjusted the statistical caliber of the furniture industry. In 2018, the furniture output of enterprises above designated size was 71.274 million pieces, a year-on-year decrease of 1.27%. In 2019, furniture production was 89.695 million pieces, down 1.36% year-on-year.

Source: China Furniture Association, China Light Industry Information Center

4. Scale of furniture market

With the steady growth of China's stable macroeconomic environment, China's wood furniture market has grown steadily. The scale of China's wood furniture market in 2019 is 637.2 billion yuan. The market size is expected to reach 781.4 billion yuan in 2024. Among them, the growth of the panel furniture market will stabilize, with an annual growth rate of 3.0% from 2019 to 2020 and a compound annual growth rate of 4.8% from 2020 to 2024. The panel furniture market size is expected to reach 461.3 billion yuan in 2024 .

Source: Frost Sullivan, China Business Research Institute

5. Export of furniture

China is the world's largest furniture producer. With the deepening of economic globalization, the internationalization process of China's furniture industry has accelerated. Furniture companies such as Zhongyuan Home Furnishing, Gujia Home Furnishing, Qumei Home Furnishing, etc. have actively deployed in overseas markets. expand. In 2019, the cumulative exports of my country's furniture industry were US$56.903 billion, a year-on-year increase of 0.96%.

Source: China Furniture Association, China Light Industry Information Center

Development trend of furniture industry

After nearly 40 years of development, the Chinese furniture industry has developed from traditional handicraft industry to mechanical automation production, with advanced technology and equipment and a very large-scale industry. The trend of intelligentization in the furniture industry will not change due to the resistance of a few furniture companies. With the help of new technologies such as industrial Internet and big data, the furniture industry will become more and more intelligent.

With the rapid development of smart manufacturing, the pattern of the entire furniture industry chain has changed significantly in the past five years: first, the performance of traditional furniture companies has fallen more and more; second, cross-border industries are gradually entering the furniture market, such as Xiaomi The IT industry represented is moving closer to custom furniture; again, the rise of custom furniture has grown exponentially.

With the rapid development of intelligent manufacturing, the core competitiveness of furniture companies has undergone great changes, gradually changing from low-cost competition relying on resource elements to improving the technological content and added value of products; from pure products to products + services ; Change from furniture manufacturer to home system solution service provider. In other words, the competition of furniture companies will extend to the entire industry chain.


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