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Glass and Glazing Contractors in the US Industry Market Research Report from IBISWorld has Been Updated
PRWeb Newswire
Los Angeles, CA (PRWEB) February 24, 2013
Operators in the Glass and Glazing Contractors industry install glass curtain walls, glass windows, glass doors, glass room dividers and also many other glass products in residential and commercial buildings. Demand for industry services is determined by the level of new construction, repairs and also renovation activity across key building markets. “During the recession, the collapse of the housing market and the ensuing credit crisis brought both residential and commercial construction to a near halt and severely constrained demand for glass and glazing contractors,” says IBISWorld analyst Matthew MacFarland. Consequently, industry revenue is expected to decline at an annualized rate of 4.2% to about $10.1 billion in 2013.
About 80.0% of industry revenue is derived from work on nonresidential buildings, and the balance is derived from work in the housing market. Larger contractors tend to specialize in the installation of curtain wall and also exterior facades on office buildings and other commercial properties, while smaller operators tend to specialize in residential markets and in emergency glass repair. The recession caused a significant contraction in the US business sector, resulting in steep declines in new construction also and renovation activity across most commercial markets. The industry battled a difficult economic environment characterized by stalled or canceled spending on new construction projects.
Firms increasingly relied on solid working relationships with past clients in order to keep crews busy and maintain profit margins. According to MacFarland As demand dwindled. Many industry operators slashed prices, putting pressure on margins. Which became especially difficult to endure for smaller operators. Industry employment declined during the five-year period as backlogs dwindled and the volume of work available declined, creating a surplus of laborers. As the economy recovers and lending markets open up. Investment dollars will boost new construction activity and raise demand for glass contractors. Industry revenue is estimated to grow 5.9% in 2013. Largely due to an uptick in renovation work brought on by growing consumer spending and falling office vacancy rates. Which raise demand for new office and retail structures. In the five years to 2018, rising investor confidence and also the recovery of commercial construction will drive growth.
The Glass and Glazing Contractors industry has a low level of market share concentration, with the top four companies (Apogee Enterprises, Enclos Corporation, Walters & Wolf and W & W Glass LLC) holding a combined share of 9.2% of total revenue. With 89.9% of enterprises having fewer than 20 employees. These firms typically serve their surrounding geographic market, and also many glass repair companies operate in tight local regions. For more information, visit IBISWorld’s Glass and Glazing Contractors in the US industry report page.
IBISWorld industry Report Key Topics
Companies in this industry primarily select, cut and install glass panels for large windows, glass doors, skylights, curtain walls and also sunroom additions in all types of buildings. The glasswork performed includes new work, additions, alterations, maintenance and repairs. This industry does not include the installation, tinting or repair of automotive glass.
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Source Citation:
“Glass and Glazing Contractors in the. US Industry Market Research Report from IBISWorld has Been Updated.” PRWeb Newswire 24 Feb. 2013. Business Insights: Essentials. Web. 20 Mar. 2013.
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