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Welcome to Northstar Windows and Doors, your trusted partner for all your residential and commercial window and door needs. As we move into 2023, there are some important industry news updates that we want to share with you.
Firstly, the global market for residential windows and doors continues to grow, with an expected increase of 3.1% per year through 2025, reaching a staggering $130 billion. This growth is driven by a variety of factors, including increased residential construction, larger homes, rising incomes, and a focus on energy-efficient products. At Northstar, we understand the importance of staying ahead of the curve in this ever-growing market, which is why we offer a wide range of energy-efficient and customizable options to suit your needs.
Secondly, the Fenestration and Glazing Industry Alliance (FGIA) reports that demand for residential windows in new construction is set to rise by 5% in 2022 before leveling off in 2023 and decreasing by 5% in 2024. However, demand for remodeling and replacement windows is expected to continue growing, with 5% growth in 2022, 3% growth in 2023, and 2% growth in 2024. This trend highlights the importance of investing in high-quality replacement windows for your existing home, which not only enhances its aesthetic appeal but also helps you save money on energy bills and increase security.
But it's not just windows that are experiencing growth. The residential entry door market also grew by 2% in 2021 and is expected to continue growing through 2024. Meanwhile, the market for non-residential entry doors declined significantly in 2021, with volume down 11% from the previous year. This trend further emphasizes the importance of investing in quality, durable doors for your home.
For commercial properties, the contract/commercial window segment saw growth of 5% in 2021 and is projected to continue growing into 2023, with an 8% increase expected in 2022. Storefront windows represent the largest market segment by vision area, comprising 27% of the overall non-residential glazing in 2021, followed closely by site-fabricated windows. This growth in commercial windows is driven by an increasing emphasis on sustainable and energy-efficient products, which aligns perfectly with Northstar's commitment to providing our customers with environmentally conscious and cost-effective solutions.
In conclusion, as we enter 2023, it's more important than ever to invest in high-quality windows and doors for your home or commercial property. With our wide range of energy-efficient and customizable options, Northstar Windows and Doors is the perfect partner to help you stay ahead of the curve and enhance the aesthetic appeal, energy efficiency, and security of your property. Don't wait – contact us today to schedule a consultation and find out how we can help you improve your property and stay ahead in the ever-growing market for residential and commercial windows and doors.
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