Industry Analysis & Industry Trends
A recovery in the construction sector will drive industry revenue growth in the next five years. After a contraction in construction activity in the two years to 2011, operators will benefit from improved residential construction, which will return to more cyclical growth. Furthermore, pent-up demand from first-time home buyers and more favorable economic conditions will breathe life into the industry. Competition from substitute materials like vinyl, however, is a growing concern for millwork manufacturers... purchase to read more
Industry Report - Industry SWOT Analysis Chapter
The Millwork industry is in its mature phase. The industry's value added, which measures the industry's contribution to the domestic economy, is expected to increase at an average annual rate of 4.5%. Meanwhile, GDP is forecast to rise at an annualized rate of 2.7% during the same period.
In the 10 years to 2019, the number of companies operating in the Millwork industry is forecast to remain relatively stable, growing only marginally at an average annual rate of 0.8% to 3,939 firms. Moreover, mergers and acquisitions have increased in the industry, serving as another key indicator of the industry's mature life cycle stage.
The industry has been challenged by the greater use of substitute products for doors and window frames... purchase to read more