WDMA Releases 2023 US Industry Market Study

The Window & Door Manufacturers Association released the WDMA 2023 U.S. Market Study for Windows, Architectural Interior Doors, and Patio & Entry Doors. This study is designed to define the historical, current and forecasted size of the industry market. The report is based on direct industry input for product shipments in 2022 and combined with other primary and secondary research to benchmark the results. The Farnsworth Group conducted the surveys, analyzed the data and prepared the report.

The 2023 market study report includes an analysis of the attitudinal drivers of homeowners and contractors, key macro drivers in the residential and commercial markets and a special section to gauge overall shipment demand sentiment and expectations to understand the current and expected challenges for the industry. This report delivers timely information on residential/light commercial windows, patio doors, residential entry doors and interior architectural door market trends and product relationships; regional data, historic data from 2020 through 2022, and forecast data for 2023 through 2025.

Quick facts and key takeaways:

• The residential window market has shown steady growth, although not as remarkable as the previous year’s performance. In 2022, there was a notable increase in residential window shipments, with vinyl windows remaining the most commonly shipped type. Shipments of sliding patio doors also experienced growth, although at a slower pace compared to the impressive rates seen in 2021. Surprisingly, even hinged patio doors, which were anticipated to decline, witnessed an increase in shipments compared to the prior year.
• The housing market continues to be surprisingly resilient. As interest rates stabilized, it appears that potential home buyers have emotionally adapted to the fact that higher rates will be here to stay. Thus, both new and existing home sales remain strong. New home prices have begun to decline while existing home prices continue to rise. This narrowing price gap along with only a 2.9-month supply of existing homes for sale has strengthened the new home market.
• For 2023, the factors driving the new residential market and the remodeling market, although mixed, are producing a stronger performance level than many predicted six to nine months ago. The next several months will be very interesting to see if the relative strength of the housing and remodeling market can continue despite negative economic factors and the Fed’s actions.

Along with shipments and forecasting information, the study also presents national and divisional data and detailed product data for housing stock, new projects and non-residential construction to provide additional insights into the health of the construction industry.