Nailed it: Increasing demand for nonresidential construction will drive industry growth

The Carpenters industry is composed of contractors that provide specialist framing carpentry services, including the construction of wooden framing and permanent foundations, wall installations and wooden beam and truss installations. 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. Like many construction-related fields, the Carpenters industry has improved markedly since 2013. Additionally, nonresidential construction activity and private spending on home improvements have risen during the five-year period to 2018, spurring demand for industry services...purchase to read more.

Industry Statistics & Market Size
Revenue
$37bn
Annual Growth 13-18
4.7%
Forecast Growth 18-23
Profit
Employment
310,183
Businesses
199,375
Market Share of Companies
There are no companies with a dominant market share in this industry

Industry Threats & Opportunities

  • Demand for carpentry services will continue to be marginally affected by the long-term substitution of timber
  • Improved business sentiment has aided many businesses in expanding
  • The residential construction market currently comprises the largest market for industry services
  • Industry Report - Industry Locations Chapter

    The small-scale nature of establishments in the Carpenters industry has resulted in a geographic spread that roughly corresponds to the geographic dispersal of population and economic activity. The concentration of industry activity on single-family housing construction and alterations and additions to existing housing tends to skew the distribution toward those regions with above average levels of residential construction activity and preferences for the construction of housing using timber flooring and exterior cladding. Industry establishments are most highly concentrated in the Southeast, Mid-Atlantic, Western and Great Lakes regions, respectively, all of which contain large proportions of the national population.The Southeast accounts for an expected 24.4% 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
  • Finish carpentry
  • Framing carpentry
  • Other contracting services
  • 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
  • Cycles of demand
  • Industry landscape
  • Chart: Revenue Growth

  • Industry Outlook
  • Residential construction markets slow
  • Nonresidential construction markets lead growth
  • Industry landscape
  • 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
  • Other contracting services
  • Framing carpentry
  • Chart: Carpenters Industry Products and Services Segmentation

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

  • Major Markets
  • Single-family home construction
  • Commercial building construction
  • Institutional building construction
  • Multifamily home construction
  • Other nonresidential building construction
  • 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
    Includes:
  • Industry Revenue (2009-2023)
  • Industry Gross Product (2009-2023)
  • Establishments (2009-2023)
  • Businesses (2009-2023)
  • Employment (2009-2023)
  • Wages (2009-2023)
  • Housing Starts (2009-2023)

  • 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.

    IBISWorld industry market research reports enable you to:
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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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