Key Note Media Centre
Construction Recovery Unlocks Growth for Windows and Doors
According to Windows & Doors, a new Market Report from market intelligence provider Key Note, the UK market for windows and doors was estimated to be worth £5.29bn in 2011, representing an increase of 2% on the previous year.
The windows and doors market is heavily dependent on the construction industry, with output in both the new build and the repair, maintenance and improvement (RM&I) sectors representing major markets. With the onset of the global financial downturn, followed by economic recession in the UK, output in the new build sector declined dramatically. Private construction output accounted for the majority of this decline, with commercial and new housing construction output falling considerably in 2008 and 2009. This, in turn, led to significant decline in the demand for windows and doors.
The repair and maintenance sector, along with improvements, also accounts for significant demand in the windows and doors market. Similar to the new build sector, repair and maintenance output experienced significant decline as a result of the economic crises. However, due to the quick recovery in the housing sector, repair and maintenance output declined at a much more subdued rate in comparison to the new build sector, providing a more robust market sector for windows and doors.
Key Note forecasts that the UK market for windows and doors will experience mainly subdued growth between 2012 and 2016, increasing by 9.6% over the 5-year period to an estimated value of £5.9bn. This is due to public sector spending cuts, which are expected to affect construction output, offsetting any recovery felt in the private sector. As economic conditions improve and public sector spending recovers, slightly more significant growth is forecast in the long-term.
Press enquiries: Jack Sykes at Key Note at email@example.com or 0845 504 0452. Press/review copies of the report are available on request.