Demand nationwide for residential windows and doors will rise 6.0% per year to become a $25.6 billion market by 2020, the Freedonia Group predicts.
The Cleveland-based market research group, in a report issued July 29, fixed residential window and door demand in 2015 at $19.06 billion. That reflects annual growth of 5.9% since 2010, Freedonia said.
Demand for doors will rise 6.6% through 2020 to be worth $14.95 billion, it forecast. That follows five years in which demand grew 7.5% per year to be worth $10.84 billion by 2015.
The rise in demand for windows will be more modest, Freedonia believes: It predicts a 5.4% annual rise in demand to $9.0 billion. On the other hand, that's speedier growth than the 3.7% annual increase in demand since 2010, a growth rate that put total demand at $6.91 billion in 2015.
"Through 2020, continued growth in new housing construction is projected to drive gains, as will an expected acceleration in demand for windows and doors in improvement and repair applications," Freedonia said in a news releases. "Rising home values and increases in existing home sales will further boost demand in remodeling applications."
Wood will figure in roughly 42% of the dollar demand for windows and doors by 2020, mainly because of its dominant role in interior doors, Freedonia said. Look for plastic in 32% of the demand, and metal in the rest.
Freedonia's entire 300-page report is available for sale for $4,900.