Building anew: Increasing demand for residential construction will drive industry growth

The Carpenters industry experienced robust growth over the past five years, with majority of revenue derived from subcontracting services to a prime building contractor. Other projects involve contracting directly with the client (typically the building owner, occupier or property manager). Carpenters experience steep competition from unskilled do-it-yourself (DIY) homeowners in the housing alterations and additions market and from other skilled tradespeople in the new building construction market (e.g. general building contractors' staff)...purchase to read more.

Industry Statistics & Market Size
Annual Growth 12-17
Forecast Growth 17-22
Market Share of Companies
There are no companies with a dominant market share in this industry

Industry Threats & Opportunities

  • Expansion within the housing market has increased new construction activity and improved demand for industry services
  • Intense internal competition among industry operators pressured profit margins
  • Increases in commercial and industrial activities will boost the need for industry services
  • Industry Report - Industry Key Buyers Chapter

    The industry has a particularly low level of market share concentration, even by comparison with other building and construction trade industries. Contractors tend to shift across to become general building contractors when they attain a significant scale and seldom continue to undertake work solely in the carpentry contracting industry. Many of the establishments in this industry are one- or two-person operations with owner/partners comprising a significant proportion of the industry's workforce. The two largest players in this industry account for less than 1.0% of annual industry revenue.The skewed distribution of industry establishments by employment size is evident from the annual survey of County Business Patterns, which remains broadly unchanged over the long term. 77.2% o...purchase to read more.

    Additional Insights for the Carpenters Industry

    IBISWorld identifies 250 Key Success Factors for a business.The most important for the Carpenters Industry are

  • Maintaining a good reputation
  • Able to service niche markets
  • Having contacts within markets
  • IBISWorld analysts also discuss how external factors such as Housing starts and Price of sawmill lumber in the Carpenters industry impact industry performance..

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    What's in this report

    What is the Carpenters Industry?

    This industry comprises establishments primarily engaged in framing, carpentry and finishing work. The carpentry work performed includes new work, additions, alterations, maintenance and repairs. Activities performed by establishments in this industry range from the installation of doors and windows to paneling, steel framing work and ship joinery.

    Industry Products
  • Framing carpentry
  • Finish carpentry
  • Industry Activities
  • Cabinet and joinery work on construction projects (on-site fabrication only)
  • Fixing wooden roof trusses
  • Installing wooden, aluminum and steel doors
  • Installing wooden, aluminum and steel windows
  • Installing wooden paneling
  • lumber or steel framework
  • Ship joinery
  • Rough carpentry (scaffolds, frameworks, and forms for concrete, bridges and other large structures)
  • Finish Carpentry (stairs, lay floorings, put on moldings and paneling and other trim and finish work)
  • Table of Contents

    Industry Definition
    Main Activities
    Similar Industries
    Additional Resources
    Industry Statistics Snapshot
    Industry Structure
    Executive Summary
    Executive Summary
    Key External Drivers
  • Housing starts
  • Price of sawmill lumber
  • Value of private nonresidential construction
  • Value of residential construction
  • Private spending on home improvements

  • Current Performance
  • Housing markets rebound
  • Adjusting nonresidential markets
  • Industry profitability
  • Chart: Revenue Growth

  • Industry Outlook
  • Growth in housing
  • Nonresidential markets also grow
  • Table: Carpenters Industry Revenue Outlook

  • Industry Life Cycle
  • Life cycle reasons
  • Chart: Benchmarking - Carpenters Industry Lifecycle vs The Economy

  • Supply Chains
    Key Buying Industries
  • Home Builders
  • Apartment & Condominium Construction
  • Industrial Building Construction
  • Apartment Rental
  • Commercial Leasing
  • Commercial Building Construction
  • Municipal Building Construction

  • Key Selling Industries
  • Construction
  • Finance and Insurance
  • Heavy Equipment Rental
  • Lumber Wholesaling
  • Tool & Hardware Wholesaling

  • Products & Services
  • Finish carpentry
  • Framing carpentry
  • Chart: Carpenters Industry Products and Services Segmentation

  • Demand Determinants
  • New housing construction
  • Improvements to housing
  • Non-residential building construction
  • Long-term demand determinants

  • Major Markets
  • Single-family housing
  • Other nonresidential building
  • Retail building
  • Office building
  • Multi-family housing
  • Chart: Major Market Segmentation for the Carpenters Industry

  • International Trade
    Business Locations
    Chart: Business Locations by State
    Market Share Concentration
    Key Success Factors
    Cost Structure Benchmarks
  • Profit
  • Wages
  • Purchases
  • Other costs
  • Chart: Cost Structure Benchmarking – Sector vs Carpenters

  • Basis of Competition
    Barriers to Entry
  • Table: Barrier to Entry Checklist for the Carpenters Industry

  • Industry Globalization
    There are no major players in this industry. This report includes analysis of other companies.
    Capital Intensity
  • Chart: Level of Capital Intensity for the Carpenters Industry
  • Chart: Tools of the Trade: Growth Strategies for Success

  • Technology & Systems
    Revenue Volatility
  • Chart: Volatility vs Industry Growth

  • Regulation & Policy
    Industry Assistance
    Table: Industry Data for the Carpenters Industry
  • Industry Revenue (2008-2022)
  • Industry Gross Product (2008-2022)
  • Establishments (2008-2022)
  • Businesses (2008-2022)
  • Employment (2008-2022)
  • Wages (2008-2022)
  • Housing Starts (2008-2022)

  • Table: Annual Percentage Change for Key Industry Data
    Table: Key Ratios for Industry Key Data
    Table: Industry Financial Ratios
    Finish Carpentry
  • The finishing work or renovation work on the interior of buildings.
  • Framing Carpentry
  • The construction of structural components of buildings and structures, including: formwork, joists, trusses, beams, shingles and exterior walls.
  • Joinery
  • The construction of interior cabinets, shelving and benches using multiple materials.
  • What Our Customers Say

    Why buy this report?

    IBISWorld’s industry research report on Carpenters contains five-year forecasts and data analysis that can help you identify and mitigate risks in potential new markets. Position yourself as an expert with internal stakeholders by using our comprehensive industry research to inform your reports, proposals and presentations. Our business information will save you money by helping you make better decisions, faster.

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    This report on Carpenters:
    • Provides Market Size information to assist with planning and strategic decisions.
    • Includes the necessary information to perform SWOT, PEST and STEER analysis.
    • Helps you understand market dynamics to give you a deeper understanding of industry competition and the supply chain.
    • Analyses key performance and operational metrics so that you can benchmark against your own business, that of your customers’ businesses, or your competitors’ businesses.
    The Carpenters market research report includes:
    • Historical data and analysis for the key drivers of this industry
    • A five-year forecast of the market and noted trends
    • Detailed research and segmentation for the main products and markets
    • An assessment of the competitive landscape and market shares for major companies
    • And of course, much more

    IBISWorld reports on thousands of industries around the world. Our clients rely on our information and data to stay up-to-date on industry trends across all industries. With this IBISWorld Industry Research Report on Carpenters, you can expect thoroughly researched, reliable and current information that will help you to make faster, better business decisions.

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