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 6,110 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 6,110 firms that employ about 72,700 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
Nov 9, 2023 - Nonresidential Projects Drive Construction Spending Growth
- Nonresidential and residential construction spending have posted steady growth in 2023. However, while nonresidential spending was up year-over-year in mid-2023, residential spending was down over the same period as high interest rates and home prices have curbed demand. Industry employment was flat in Q3 compared to the same period in 2022. Amid competition for skilled workers, glass and glazing wages were up significantly in Q3 2023 over levels seen at the same time in 2022. Producer prices for flat glass in Q3 were down moderately compared to a year earlier. Lower prices for flat glass and flat wage growth could reduce pressure on some glass and glazing contractors’ margins.
- North American engineering and construction spending is forecast to rise by 5% in 2023 compared to the 12% growth seen in 2022, according to FMI’s fourth-quarter 2023 North American Engineering and Construction Outlook. Overall growth in 2023 will be supported by double-digit gains in key segments, including manufacturing (up 58%), multifamily (+18%), and lodging. Other segments expected to post strong growth include healthcare (+9%), public safety (+9%), amusement & recreation (+8%), educational (+8%), office (+8%), transportation (7%), and commercial (+6%). With a 13% decline in spending, single-family housing is the only segment expected to post negative growth in 2023.
- The NAHB/Westlake Royal Remodeling Market Index (RMI) reading for the third quarter of 2023 was 65, down three points from the second quarter of 2023, according to an October report by the National Association of Home Builders (NAHB). Any RMI reading over 50 indicates that most remodelers feel market conditions are good. In the second quarter, the Current Conditions Index portion of the RMI declined by five points from Q2 2023 to 72. The Future Indicators Index component of the RMI fell three points to 57 over the same period. The NAHB noted that although high borrowing costs and inflation continue to pose challenges, remodeling growth will continue in 2024 and 2025. While remodeling activity has slowed over the past year, as of June 2023, it accounted for 43% of total residential remodeling spending, up from 31% in early 2022.
- Single-family home sizes increased during the pandemic as families sought more space for activities like working and learning remotely. However, rising interest rates and higher housing costs have since reversed the trend, according to National Association of Home Builders analysis of US Census Bureau data. In the second quarter of 2023, the median size of a new, privately-owned, single-family home was 2,191 square feet. That’s down nearly 6.2% from a pandemic-era high of 2,335 square feet in the fourth quarter of 2021. Second-quarter 2023 median single-family square footage was the lowest since the end of 2010.
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