The Window & Door Manufacturers Association (WDMA) has released its 2022 U.S. Window and Door Industry Market Study. The report provides data into market drivers, changing products and dynamics, as well as insights on future product trends. The report was conducted on extensive industry research and analysis by the Farnsworth Group.
In order to obtain a complete understanding of the state of our industry today, the research is based on surveys to window and door manufacturers combined with other construction industry research and government surveys.
Labor participation, which is the percent of people actively employed and looking for employment, fell dramatically due to the COVID-19 pandemic, but rose again in early 2022. Along with increase in labor participation, unemployment decreased as people returned to the workforce in 2022.
In addition, 2022 witnessed low existing stock for housing inventory, driving the demand for new homes with new residential construction rising. However, housing affordability, which measures whether a typical family earns enough to qualify for a mortgage, remains at the lowest measure in 10 years, and is forecasted to continue to decline if rates, home prices and inflation increase.
At the onset of the COVID-19 outbreak, contractor activity fell dramatically, but remodeling projects started rising during 2021. The Joint Center for Housing Studies (JCHS) expects this particular activity to continue to rise in 2022, with growth slowing in the last quarter.
During the pandemic, the consumers’ attitude towards buying declined significantly. 2022 showed even lower level in Consumer Confidence, due to uncertain market conditions. Even Builder Confidence, which reached record highs in 2021, started falling in January of 2022. On a different note, the Contractor Confidence grew in 2021 and is expected to remain solid in 2022.
Key drivers remain positive for the future; however, expected to plateau in the second half of 2022. High home values are creating positive equity and are anticipated to drive more large-scale remodeling.
Staying one step ahead of what’s happening in the market allows you to have a finger on the pulse, whether you’re a builder, architect, or remodeler— and in 2022, insights are more valuable than ever.
Even with the pandemic negatively impacting the economy, shipments for residential windows increased in 2021, and are expected expand in 2022 and 2023, but at a slower pace.
Shipments of Sliding Patio Doors boomed during the pandemic, as more people worked from home and were seeking that connection with nature. Growth is however expected to slow in following years. Similar to their siding counterparts, shipments for Hinged Patio Doors rose in 2021 but gain are expected to slow in coming years, as these doors also have a higher price point.
Residential Entry Doors
With increased demand for construction, the entry door market is expected to continue to grow, with progress slowing down around 2024.
Flush doors, also known as architectural doors, are intended for interior, commercial applications. Shipments for these doors declined significantly in 2021, but are projected to continue to increase through 2024, but at a level well below the 2020 peak.
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