Wood House Frame Market Forecast and CAGR
According to the latest report by Fact.MR, wood house frame demand is projected to show a decent growth over the forecast period (2021-2031). Steady growth in demand and sales for wood house frames seems to provide a positive outlook to the industry. Moreover, constant demand from construction and housing industry is projected to drive the growth for wood frame.
What is Driving Demand for Wood House Frame?
Housing and the construction industry has been identified as the major driver for the growth of demand. Housing industry continue to be a gainful market for wood frame manufacturers.
Wood house frame sales may get hindered due to the presence of prominent substitutes such as cements and steels. Moreover, the product has not been able to gain popularity in countries like China and India due to presence of alternative construction materials. Manufacturers need to get insights about the specific needs of consumers in these regions to drive its consumption growth.
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However, with increase in demand for strong and durable wood frames from the residential sector coupled with increased spending in the aesthetic appearance of the houses is projected to bolster the demand for wood house frames.
Wood House Construction: Talk of the Town
Wood house construction activities over the projected forecast period (2021-2031) is expected to show a decent growth attributed to the investments in real estate coupled with growing disposable income around the world. Additionally, negative impact of CO2 emissions with the production of cements have shifted the consumer focus towards the use of wood houses. For instance, cement industry is one of the two largest CO2 producing sector.
Moreover, favorable government policies in mitigating carbon emissions has encouraged construction of wood houses giving the wood house frame industry the required push in the market.
US and Canada Wood House Frame Market Outlook
U.S accounts for majority of the sales share in the wood frame sales owing to high disposable income in the region coupled with well-established manufacturing players. Additionally, increase in demand for the construction of single-family units has added to the surge in the growth of wood frames.
For instance, 93% of new homes constructed in 2018 in the U.S were wood framed according to the National Association of Home Builders. Furthermore, these affirmative outlooks have provided the required space for the growth of demand in the region.
Canada on the other hand has seen a bumpy ride over the past half-decade attributed to the concerns such as affordability, price acceleration, overbuilding and household debts. However, the future demand in the region seems bright owing to abundance of wood, low cost of construction and faster supply chain systems.
U.S and Canada demand is projected to grow with a higher single digit CAGR during the forecast period providing additional push to the global wood house frame industry.
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Europe Demand Outlook for Wood House Frame
In the past half-decade construction and housing industry has seen a significant growth in the region owing to the increase investment in the residential sector. For instance according to a survey, 60% of the respondents found out to be investing in residential construction such as private rented residential, student and social housing, co-living etc.
Moreover, y-o-y growth for housing and construction industry in Europe has been decent over the past half-decade. Additionally, new-residential and residential remodelling are among major housing and construction activities driving the growth for European region.
Aforementioned factors coupled with high investments in the housing and construction activities is projected to propel the growth for wood frame sales in the region.
Who are the Key Manufacturers and Suppliers of Wood House Frames?
Some of the leading manufacturers and suppliers of wood house frames include
- Canadian Timber Frames
- Texas Timber Frame
- Purcell Timber Frames Homes
- British Colombia Timber Frames Co.
- WIGO GROUP
- Low Field Timber Frames
- Taylor Lane Timber Frame Limited
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