A recent report from IBIS World shows that prices for door and window installation services have risen 2.2 percent per year since 2014 thanks to an increase in residential construction.

As the economy has bounced back from the recession, residential construction values have grown quickly. In addition, private spending on home improvements has been rising. These trends allow suppliers to increase the costs of their services.

From 2017 to 2020, prices are forecast to continue rising, though only 1 percent annually.

The residential construction sector will not expand as rapidly as it has during the past three years, IBIS World predicts.

The biggest drivers of price increases on the material side are the cost of glass, lumber and wood products. Glass prices affect the cost of windows, which IBIS World says rose 3 percent a year from 2014 to 2017 and will rise 1.6 percent annually by 2020.

Lumber and wood prices rose 1.3 percent per year between 2014. They’re projected to increase 0.6 percent each year into 2020.

Wages for installers have been stable, only increasing 0.8 per year on average since 2014. Through 2020, they’re only expected to rise 0.6 percent each year.

For more information from the report or to purchase it in full, follow this link.

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