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
                              Source: Vertical IQ and Inforum

                              Recent Developments

                              Nov 15, 2022 - Nonresidential Building Construction Outlook Improves
                              • The Dodge Momentum Index (DMI) increased 9.6% in October 2022 to 199.7 (2000=100), up from the revised September reading of 182.2. The DMI Index is a monthly measure of the first (or initial) report for nonresidential building projects in planning, which has been shown to lead construction spending for nonresidential buildings by a full year. On a monthly basis, the commercial planning component increased by 13%, and institutional rose by 2.9%. An increase in office and lodging projects boosted the commercial planning pipeline. The institutional sector was mixed amid a growing pipeline of recreation and education projects, but the number of healthcare and public planning projects declined. Developers and project owners continue to see healthy demand, despite recession concerns, although continued inflation, high interest rates and materials costs, and labor shortages have the potential to blunt the flow of new projects.
                              • Some real estate developers are holding off on new office projects as remote work has eroded demand for new office space, and rising interest rates make projects more expensive, according to The Wall Street Journal. Office occupancy is only about half of what it was before the pandemic, which has prompted some major real estate firms, including Varnado Realty Trust; Hines, Kilroy Realty Corp.; and Brookfield Asset Management, to tap the breaks on new office development projects. The national office vacancy rate is 12.5%, up from 9.6% in 2019, according to commercial real estate data firm CoStar Group. About 37% of the office space currently under development remains available, double what it was in 2019, according to CoStar.
                              • Inflation’s impact on materials deliveries and project budgets in 2023 is top-of-mind for commercial real estate developers, according to a recent report commissioned by real estate development software firm, Northspyre. About 60% of project managers surveyed said they expect inflation will have a “moderate to major” impact on their business. More than two-thirds said they anticipate inflation will cause them to think more strategically about their purchasing decisions, and 52% plan to be more selective when purchasing materials and selecting vendors. However, inflation grew more slowly in October, which may be a source of developer optimism, according to Construction Dive. October’s consumer price index rose 0.4% compared to the prior month and 7.7% from a year earlier, down from 8.2% year-over-year growth in September.
                              • The total value of US construction put in place increased by 2% in September 2022 compared to the prior month, according to the US Census Bureau. Residential spending was flat, but nonresidential increased by 0.5%. In the nonresidential buildings segment, manufacturing was the bright spot in September, with growth of 7.6% over the prior month. Lodging spending was up 0.8%, and office spending rose 0.2%. Spending for commercial projects fell 0.7%, and healthcare spending was down 2.6%.
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