Wood Framing in the US - Industry Market Research Report
Description
Wood Framing in the US - Industry Market Research Report
Wood Framing in the US
The health of residential construction markets primarily impacts wood framing contractor performance. Through the end of 2023, wood framing contractors faced considerable volatility in the residential construction market. The outbreak of COVID-19 induced low-interest rates, spurring housing starts and spending on additions and alterations as consumers looked to push up the value of their homes to take advantage of the favorable pricing environment. On the other hand, nonresidential construction activity plummeted as work-from-home orders and social distancing measures sunk commercial construction spending. As the economy reopened and interest rates rose, the housing market slowed, greatly hindering wood framing contractors. Overall, industry-wide revenue has declined at a CAGR of 0.2% to an estimated $24.9 billion over the past five years, including 8.2% in 2023, as interest rate hikes sink housing starts.
Wood framing contractors are engaged in platform and balloon framing, fastenings, foundation laying, truss-framed and plank and beam construction, using wood-based products. Contracted work typically includes new construction, alterations, maintenance and repairs and additions. This industry excludes finish carpentry and framing using steel, precast concrete or nonwood products.
This report covers the scope, size, disposition and growth of the industry including the key sensitivities and success factors. Also included are five year industry forecasts, growth rates and an analysis of the industry key players and their market shares.
Wood Framing in the US
The health of residential construction markets primarily impacts wood framing contractor performance. Through the end of 2023, wood framing contractors faced considerable volatility in the residential construction market. The outbreak of COVID-19 induced low-interest rates, spurring housing starts and spending on additions and alterations as consumers looked to push up the value of their homes to take advantage of the favorable pricing environment. On the other hand, nonresidential construction activity plummeted as work-from-home orders and social distancing measures sunk commercial construction spending. As the economy reopened and interest rates rose, the housing market slowed, greatly hindering wood framing contractors. Overall, industry-wide revenue has declined at a CAGR of 0.2% to an estimated $24.9 billion over the past five years, including 8.2% in 2023, as interest rate hikes sink housing starts.
Wood framing contractors are engaged in platform and balloon framing, fastenings, foundation laying, truss-framed and plank and beam construction, using wood-based products. Contracted work typically includes new construction, alterations, maintenance and repairs and additions. This industry excludes finish carpentry and framing using steel, precast concrete or nonwood products.
This report covers the scope, size, disposition and growth of the industry including the key sensitivities and success factors. Also included are five year industry forecasts, growth rates and an analysis of the industry key players and their market shares.
Table of Contents
45 Pages
- TABLE OF CONTENTS
ABOUT THIS INDUSTRY
Industry Definition
Main Activities
Similar Industries
Additional Resources
INDUSTRY AT A GLANCE
INDUSTRY PERFORMANCE
Executive Summary
Key External Drivers
Current Performance
Industry Outlook
Industry Life Cycle
PRODUCTS & MARKETS
Supply Chain
Products & Services
Demand Determinants
Major Markets
International Trade
Business Locations
COMPETITIVE LANDSCAPE
Market Share Concentration
Key Success Factors
Cost Structure Benchmarks
Basis of Competition
Barriers to Entry
Industry Globalization
MAJOR COMPANIES
OPERATING CONDITIONS
Capital Intensity
Technology & Systems
Revenue Volatility
Regulation & Policy
Industry Assistance
KEY STATISTICS
Industry Data
Annual Change
Key Ratios
JARGON & GLOSSARY
Pricing
Currency Rates
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