Glass and Glazing Contractors
Industry Profile Report
Dive Deep into the industry with a 25+ page industry report (pdf format) including the following chapters
Industry Overview Current Conditions, Industry Structure, How Firms Operate, Industry Trends, Credit Underwriting & Risks, and Industry Forecast.
Call Preparation Call Prep Questions, Industry Terms, and Weblinks.
Financial Insights Working Capital, Capital Financing, Business Valuation, and Financial Benchmarks.
Industry Profile Excerpts
Industry Overview
The 5,800 glass and glazing contractors in the US install glass panes in prepared openings and perform other types of glass work for buildings. Projects include new installations, additions, alterations, maintenance, and repairs. Smaller operators generally specialize in residential projects and emergency glass repair. Commercial projects include interior projects, such as the installation of decorative room dividers, and exterior projects, such as the replacement of storefront windows.
Dependence On The Construction Industry
Demand for glass and glazing services is highly dependent on the health of the construction industry, which is cyclical and influenced by economic conditions.
Specialized Labor Shortage
Glass and glazing contractors struggle to find qualified glaziers, who are workers that cut glass and perform the physical installation process.
Industry size & Structure
The average glass and glazing contractor operates out of a single location, employs 12 workers, and generates $2-3 million in annual revenue.
- The glass and glazing contracting industry consists of about 5,800 firms that employ about 70,700 workers and generate $14 billion annually.
- Small, independent companies operate within a limited geographical market.
- Large firms that manufacture, design and install building exteriors, such as aluminum curtain walls, stone, and composite panels, often also work with glass products.
- Large firms include Harmon, Karas and Karas Glass, and Giroux Glass.
Industry Forecast
Glass and Glazing Contractors Industry Growth
Recent Developments
Mar 15, 2023 - Banking Jitters Push Mortgage Rates Lower
- Mortgage rates dipped slightly after the collapse of Silicon Valley Bank, but housing industry watchers are uncertain if lower rates will persist long enough to provide much relief from the affordability issues that have slowed the US housing market, according to Yahoo Finance. Some financial market watchers note that the banking sector's jitters could slow the Federal Reserve’s strategy of taming inflation with rate hikes. Redfin chief economist Daryl Fairweather told Yahoo Finance, “There's still a lot of uncertainty but in the near term, I do expect mortgage rates to drop. And I expect buyers to take advantage of those mortgage rates because we've seen buyers be incredibly sensitive to those interest rates.” However, some industry insiders suggest that to lure more buyers into the market, rates would need to drop and stay low for a sustained period.
- A robust labor market and wage growth combined with steady investments in equipment, IT, and factory construction could help the US economy avoid a recession in 2023, according to Associated General Contractors of America (AGC) chief economist Ken Simonson. Manufacturing and infrastructure investments stemming from the Infrastructure Investment and Jobs Act and the Chips and Science Act are expected to be key pockets of growth for the construction sector. In the manufacturing sector, projects are being driven by EV battery plant and carbon capture projects. However, Simonson noted that high materials, labor, and financing costs could cause a slowdown for other types of commercial construction categories, including warehouse, retail, office, lodging, and multifamily.
- Multifamily developer confidence improved in the fourth quarter of 2022 but remained in negative territory, according to February’s Multifamily Market Survey (MMS) report by the National Association of Home Builders (NAHB). The Multifamily Production Index (MPI) rose two percentage points in Q4 to 34 compared to the third quarter of 2022. The Multifamily Occupancy Index increased by four points to 49 over the same period. An MPI or MOI reading of 50 or more indicates that multifamily production or occupancy, respectively, is growing. While multifamily housing demand is robust, supply is catching up with demand in some markets. The NAHB expects multifamily production will slow significantly over the next two years after rapid growth in 2022. Developers face several challenges, including high regulatory costs, difficulty securing new project financing, and high interest rates.
- The total value of nonresidential construction put in place declined 0.1% in January 2023 compared to the prior month, according to the US Census Bureau. While overall spending declined, manufacturing projects were a bright spot, and manufacturing construction spending in January was up 5.9% over December. Power projects saw 0.9% growth, office spending increased 0.7%, and healthcare was up 0.2%. Spending on commercial projects fell by 3.1%. Construction spending for manufacturing projects in January 2023 was up 53.6% year over year. Associated Builders and Contractors (ABC) chief economist Anirban Basu said, “With the CHIPS and Science Act directing $280 billion into semiconductor manufacturing and an ongoing desire to restore manufacturing capacity, the segment should continue to thrive.”
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