Association News: FGIA releases update to 2020/2021 Market Studies, offers adjusted forecast of fenestration industry trends
Posted on September 30th, 2021 by
Schaumburg, Illinois -- The Fenestration and Glazing Industry Alliance (FGIA) has released updated industry market data in the FGIA Industry Update of the U.S. Market for Residential and Non-residential Windows, Doors and Skylights. This report serves as an updated overview of the reports released by the association this past spring. New forecasts included in this update are based on projections of construction activity as of mid-September 2021, including a consensus of current economic and construction forecasts along with input from industry participants on year-to-date shipments.
"FGIA chose to release this update because, as we know, forecasting at a time of unique economic shifts creates challenges for forward-looking market estimates. The latest report indicates changes between April, the date of the previous reports, and September in the overall economic position and forecast for 2021 and beyond," said Janice Yglesias, FGIA Executive Director.
According to the report update, the changes to forecasts since April have been relatively modest, with positive changes in the residential market as both new housing activity and renovation activity have strengthened relative to the prior forecast, leading to upward revisions of residential product shipment forecasts for the year. Indicators for non-residential construction conversely have softened somewhat, both for the current year and forecasts for 2022 and 2023.
Additional and more detailed information on the residential and commercial fenestration markets is contained in the FGIA 2020/2021 Study of the U.S. Market for Windows, Doors and Skylights (originally published in May 2020 and updated in April 2021), which includes the items listed below.
• FGIA 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.
• FGIA U.S. Industry Market Size Report quantifies residential and non-residential market volumes, both historic and projected.
• FGIA U.S. Industry Regional Statistical Review and Forecasts details information on trends and product relationships.
These reports, along with this September 2021 FGIA Industry Update, are all available for purchase online from the FGIA Online Store.
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Filed under: FGIA