AAMA releases 2014/2015 industry review and forecast

The American Architectural Manufacturers Association (AAMA) has released the “AAMA 2014/2015 U.S. Industry Statistical Review and Forecast.

This report delivers timely information on window, door and skylight market trends and product relationships.  Historic data for 2006 through 2012 and forecast data for 2015 through 2017 also are included in the report.Forecasts are based on projections of construction activity as of March 2015.

Total housing starts continued their growth curve in 2014 with strong gains particularly in the multifamily segment, up by 14 percent, while single family starts increased by four percent. The overall new housing market is expected to continue at a strong level of growth through 2017, and single family starts are expected to take the lead in 2015 and experience a 21 percent increase. While the Northeast and Midwest regions of the U.S. have experienced stronger growth since 2012, the South and West are expected to be more dynamic over the next three years.

The demand for prime windows improved significantly in 2014 and increased overall by just under five percent, driven by a continued strong demand for new housing, although not as strong as originally forecasted at the beginning of the year. The demand for windows in new housing increased by almost 10 percent in 2014 with continued double-digit increases forecasted for the next three years as the housing recovery continues. Meanwhile, remodeling and replacement window demand increased modestly, by just under two percent in 2014, with growth in this segment also likely to be relatively modest in 2015 against the backdrop of a short-term decline in existing home sales, before stronger growth in 2016 and 2017.

In 2014, nonresidential construction activity experienced strong growth, with a similar net positive effect on the entry door market. Total volume reflected a 10 percent growth rate versus 2013. Looking forward, growth is expected to continue at a slower pace of five percent in 2015 before accelerating again in 2016.

Residential skylights closed the year with a growth rate of more than four percent over the 2013 volume. New construction skylight activity was up five percent, though slower than initial expectations, while remodeling and replacement skylight activity was up four percent versus 2013 totals.

Additional and more detailed information on the residential and commercial fenestration markets is contained in the "AAMA 2013/2014 Study of the U.S. Market for Windows, Doors and Skylights" (published in April 2014), which includes all of the items listed below.

* "AAMA U.S. Industry Channel Distribution Report” profiles the residential and non-residential market for windows and doors as it flows through the identified distribution channels.

* "AAMA U.S. Industry Market Size Report” quantifies residential and non-residential market volumes, both historic and projected.

* "AAMA U.S. Industry Regional Statistical Review and Forecasts” detail information on trends and product relationships.

The updated "AAMA 2014/2015 U.S. Industry Statistical Review and Forecast,” as well as the other reports listed above, is available for purchase from the online AAMA Publication Store, http://pubstore.aamanet.org/pubstore/ProductResults.asp?cat=1.

AAMA is the source of performance standards, product certification and educational programs for the fenestration industry.(SM)

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