Annual Outlook Report Points to Another Strong YearFebruary 5th, 2021 by Editor
Despite challenges faced in 2020, results from [DWM] and Key Media & Research’s The 2021 Door and Window Industry Outlook suggest that the fenestration market remained mostly resilient throughout 2020 and is already taking on 2021 with an optimistic view.
Nearly three-quarters (73.1%) of Outlook respondents say the current business environment is somewhat favorable, with many hoping the worst of the pandemic is behind us. However, there is still a lot of uncertainty among the industry regarding COVID-19’s continued effects and how much longer they will persist.
Despite the obvious challenges posed in 2020, the industry reported stellar year-over-year sales numbers. Nearly half (46.2%) of Outlook respondents said their sales increased by 10% or more in 2020 compared to the previous year, and another 21.2% reported an increase of less than 10%. As one manufacturer notes: “We have seen unprecedented growth throughout the past six months from current and new dealers that has not slowed down,” adding that this has continued into the fourth quarter despite the looming election. Despite mostly positive accounts, nearly one of every five (19.2%) industry members are reporting sales decreases from 2019 to 2020.
Looking ahead, the door and window industry has a positive outlook. “[There is] still lots of sales opportunity in new construction and remodeling,” says one dealer. “Architects are busy, so work should keep coming our way.” Nearly eight of every ten industry members (78.4%) anticipate sales increases in 2021 versus 2020, with half of those expecting increases of 10% or more. “We have secured a significant amount of new business that will launch in 2021,” says one extruder, “and our current customers expect to have a year-over-year growth rate of 10 to 15% or greater in many areas.” Another manufacturer adds that the next 12 months “will continue to be record-setting” for their company.
The 2021 Door and Window Industry Outlook is available for purchase.