China's mahogany furniture related enterprises have reached 41,100

A total of 3,670 new enterprises were established in 2020, down 18.7 percent year on year.

Recently, the price of mahogany raw materials has started a continuous increase mode, coupled with the inability of imported wood to enter China, resulting in a continuous increase in the price of mahogany furniture. According to the data of enterprise investigation, there are currently 41,100 companies related to mahogany furniture in China. Guangdong Province ranks first in the province with more than 9,000 companies, while Guangxi and Zhejiang are ranked second and third, and Zhejiang Jinhua is the first city with more than 3,300 companies. In recent years, the annual registration of mahogany furniture-related companies has basically remained above 4,000, but this year's data has dropped. In 2020, a total of 3,670 new companies will be added, a year-on-year decrease of 18.7%.

Guangdong, Guangxi and Zhejiang are ranked in the top three provinces, and Jinhua is ranked first in the city

From the perspective of geographical distribution, the data of enterprise investigations show that as one of the important origins of mahogany wood in China, Guangdong has the largest number of mahogany furniture companies, with 9024 at the top of the list, and Guangxi, Zhejiang, Fujian and Hebei ranked two-five.

In terms of city distribution, Jinhua has broken out of the pack, with 3,364 mahogany furniture companies leading the pack, according to the survey. Dongyang town of Jinhua wood carving technology developed, well-known at home and abroad, has formed a very mature industrial chain. In addition, cities such as Chongzuo in Guangxi, Putian in Fujian and Jiangmen in Guangdong also rank among the leading mahogany furniture companies. It’s worth noting that three of the top ten cities are from Guangzhou.

In 2020, the registration volume decreased by 18.7% year-on-year, and 30% of the industry’s registered capital was less than 1 million

Judging from the registration volume of mahogany furniture enterprises, in the ten years since 2011, the registration volume curve has been relatively volatile, and the overall trend has been increasing first and then decreasing. According to the data from QCC, the number of registrations increased year by year from 2011 to 2014, and the growth curve was relatively steep. In 2014, it reached the highest level in ten years, with a total of 4807 companies, an increase of 47.8% year-on-year. In the following years, the number of registrations has basically remained above 4,000. Affected by COVID-19 epidemic, a total of 3,670 mahogany furniture companies were registered, a year-on-year decrease of 18.7%.

From the perspective of the types of enterprises, the data from QCC show that the number of self-employed in mahogany furniture enterprises is more than 26,300, accounting for 64% of the total. From the registered capital (except individual households), the number of mahogany furniture companies with 1 to 5 million yuan is the largest, accounting for about 39%, and the registered capital is less than 1 million yuan, accounting for about 31%.

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