CLEVELAND, Aug. 22, 2019 /PRNewswire/ — The Freedonia Group is projecting nearly 4% annual growth for the $28 billion US window and door market through 2023, driven by:
- increases in building construction activity
- design trends favoring more and larger (and costlier) windows and entry doors
- rising interest in smart glass and other value-adding technologies in windows that promote building efficiencies
- intensifying severe weather patterns and other factors supporting sales of higher-value weather-resistant windows and doors
US building construction to see healthy growth through 2023
The key determinant to window and doors sales is the health and composition of the US construction industry. Windows and doors are necessary components of all buildings, although the types of windows and doors may vary significantly depending on whether the structure is residential or commercial and whether it is new construction or renovation. For example:
- In residential buildings, window-to-wall ratios and numbers of doors per square foot are often much higher than in commercial structures, and replacing products to keep up with design trends is far more common.
- The higher strength and security needs of most commercial buildings necessitate higher-cost, higher-performing products that require less frequent replacement.
Design trends, tech advances add value to sales
Aesthetic and performance considerations – by builders, building managers, and homeowners – also inform product purchasing decisions, as evolving design trends and advances in smart glass technology are creating opportunities for higher-priced – and higher-performing – windows and doors.
For example, while aesthetics tend to matter more when it comes to exterior products, interior design trends are driving demand for more expensive niche products, such as interior barn and glass-paneled doors.
Please contact Corinne Gangloff for an interview with the analyst. The study page for citations is here: https://www.freedoniagroup.com/industry-study/windows-doors-3726.htm
The new Freedonia Group study Windows & Doors analyzes key trends affecting the US market for windows and doors, including smart technologies, industry standards, environmental regulations and green building certification programs, as well as aesthetic and design preferences.
In addition to presenting historical demand data and forecasts for 2023 and 2028 by product, material, market, and major US region, the study features comprehensive profiles of market leaders including market share, marketing strategies, mergers and acquisitions, and supply chains. Trends in international trade and pricing are also covered.
About The Freedonia Group – The Freedonia Group, a division of MarketResearch.com, is a leading international industrial research company publishing more than 100 studies annually. Since 1985 we have provided research to customers ranging in size from global conglomerates to one-person consulting firms. More than 90% of the industrial companies in the Fortune 500 use Freedonia Group research to help with their strategic planning. Each study includes product and market analyses and forecasts, in-depth discussions of important industry trends, and market share information. Studies can be purchased at www.freedoniagroup.com and are also available on www.marketresearch.com and www.profound.com.
SOURCE The Freedonia Group