New report predicts window and door demand will surpass pre-downturn levels by 2016
Spurred by gains in construction spending and a rebound in housing completions, demand for windows and doors in the United States is forecast to rise 9.3 percent per year over the next several years, according to a new report from The Freedonia Group Inc. Total demand for the nonresidential and residential markets is expected to reach $34.2 billion by 2016, up from $21.2 billion in 2011.
The Cleveland-based market research firm notes that from 2006 to 2011, construction expenditures and housing completions dropped precipitously, causing window and door demand to experience a similar decline. Its new study projects total demand will recover and surpass the pre-downturn levels by 2016.
Among material types, metal windows and doors accounted for the largest share of window and door demand in 2011, and are expected to continue to lead the market in 2016. Increasing nonresidential building construction spending will boost demand, as metal products are often installed in nonresidential structures because of their durability and low cost, according to the study. Rebounding housing activity will also spur gains, as well as population growth in the South and West, where metal products are often installed because there is less concern about heat loss through fenestration products.
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Source: The Freedonia Group
The 468-page report is available for $5,300 from Freedonia. More information is available by calling 440/646-0484 or via e-mail at email@example.com.