According to a recent Freedonia study, U.S. demand for windows and doors is forecast to grow 4.8% annually to $34.3 billion in 2021. The residential market is expected to offer the best growth opportunities for the country’s window and door producers, due to a combination of favorable housing trends and consumer preferences for higher quality – and more expensive – products, cites the Windows and Doors Market Forecast.
The trilateral agreement to replace NAFTA should help “promote open markets for the window, door and skylight industry, and contribute to a robust economy” for the United States, Canada and Mexico, said Michael O’Brien, president and CEO of the Window & Door Manufacturers Assn.
A world market forecast is offered by Global Market Insights Inc. According to the study, Global Windows and Doors Market, the industry was valued at more than $190 billion in 2017 and is projected to cross $260 billion by 2024. The growth of windows and doors will be spurred by new construction in both the commercial and residential markets, with the movement of smart city development initiatives in several countries among the key growth parameters.
The global wood windows and doors market was valued at more than $60 billion in 2017, adds Global Market Insights.
Quick Stats:
A forecast combination of decreased housing starts and reduced remodeling projects could limit window and door growth in 2019 and 2020, according to WDMA/Farnsworth Group research. Shipments for architectural flush doors and stile and rail doors are projected to grow around 1% annually through 2020. Shipments of commercial shop built windows are estimated at 0.885 million units in 2018, with an annual growth rate of 1.8% through 2020 forecast.
According to The Freedonia Group’s Consumer Trends & Supplier Opportunities, casement windows will post above-average growth through 2021 as homeowners favor their aesthetic qualities. Residential door trends are carrying over into the exterior and commercial markets with regards to the look of wood and custom details.
It is projected that the revenue of wood window and door manufacturing in the U.S. will amount to approximately $13.4 billion by 2022, according to Statista.
U.S. demand for commercial window and door products is forecast to reach $10.3 billion by 2020, according to The Freedonia Group’s Commercial Windows & Doors study. While metal products account for the vast majority of dollars, wood products will continue to be important in applications, such as interior doors.The product breakdown for the U.S. commercial market is: doors 57%, windows 29% and other 14%.
Source: Woodworking Network