The Fenestration and Glazing Industry Alliance (FGIA) released the FGIA Industry Update of the U.S. Market for Residential and Non-residential Windows, Doors and Skylights, an update to its industry market data reports that were released in May, and based on projections of construction activity as of mid-September 2020. The update includes current economic and construction forecasts along with input from industry participants on year-to-date shipments.
“Forecasting at a time of unique economic crisis inevitably creates challenges for forward-looking market estimates. The latest report indicates significant shifts between May, the date of the previous reports, and September in the overall economic position and forecast for 2020 and beyond,” said Janice Yglesias, FGIA executive director.
According to the update, the forecasts show positive changes in the residential market as housing activity and indicators, including new housing starts, existing home sales and home improvement expenditures, have all shown strong monthly gains since May, leading to continual upward revisions of forecasts for the year.
Non-residential construction has not changed in the same way. There has been some moderation in expected declines but overall, COVID-19 is having more of an adverse impact on commercial construction, and the reports forecast there will continue to be a negative impact over the next two years.
On October 6, the FGIA 2020 Virtual Fall Conference will have a session exclusive to FGIA members explaining the methodology and forecasting of the study update. Additional and more detailed information on the residential and commercial fenestration markets is contained in the FGIA 2019/2020 Study of the U.S. Market for Windows, Doors and Skylights (originally published in May 2020), which includes:
* FGIA U.S. Industry Channel Distribution Report – profile of the residential and non-residential market for windows and doors as it flows through the identified distribution channels;
* FGIA U.S. Industry Market Size Report – quantifies residential and non-residential market volumes, both historic and projected; and
* FGIA U.S. Industry Regional Statistical Review and Forecasts – detailed information on trends and product relationships.