New York, June 21, 2023 (GLOBE NEWSWIRE) -- Reportlinker.com announces the release of the report "Finish Carpentry Contractors Global Market Report 2023" - https://www.reportlinker.com/p06464033/?utm_source=GNW
, JADE Carpentry Contractor Inc., Valcon General LLC, Rubecon Builders Inc., D&S Elite Construction Inc., Ante-Holz GmbH, Meer End Staircases & Joinery Ltd., Stairways Midlands Ltd., Woodfellas Carpentry & Joinery Limited, and Dziedrs Ltd.
The global finish carpentry contractors market is expected to grow from $252.06 billion in 2022 to $266.64 billion in 2023 at a compound annual growth rate (CAGR) of 5.8%. The Russia-Ukraine war disrupted the chances of global economic recovery from the COVID-19 pandemic, at least in the short term. The war between these two countries has led to economic sanctions on multiple countries, a surge in commodity prices, and supply chain disruptions, causing inflation across goods and services and affecting many markets across the globe. The finish carpentry contractors market is expected to reach $322.79 billion in 2027 at a CAGR of 4.9%.
The finish carpentry contractors market includes revenues earned by entities by providing services such as door and window installation, trim, fitting interior doors, wood and laminate flooring installation, wainscoting, crown molding, cabinet installation, and cabinetry/millwork shop services.The market value includes the value of related goods sold by the service provider or included within the service offering.
Only goods and services traded between entities or sold to end consumers are included.
A finish carpentry contractor is a qualified professional, who is specialized in the finishing touches on the interior of a structure, such as trim, molding, cabinets, and other wood features. They cut, fit, and install materials to precise specifications to guarantee sharp corners, tight joints, and level moldings.
Asia-Pacific was the largest region in the finish carpentry contractors market in 2022, and is expected to be the fastest-growing region in the forecast period. The regions covered in finish carpentry contractors report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East and Africa.
The main types of finish carpentry contractors are cellular wood panels, windows, assembled parquet panels, doors, and others.Cellular wood panels are a lightweight wood material with a cellular structure that is created by attaching tiny layers of wood veneer or strands together using adhesives to form a robust and durable panel.
Large chain companies and independent contractors provide services for utilities, commercial, and residential applications.
The demand from commercial construction is expected to propel the growth of the finish carpentry contractors market going forward. Commercial construction involves the construction of buildings and other structures for commercial use, such as office buildings, retail stores, warehouses, and workshops.Finish carpentry contractors are vital sections of business construction projects as they are in charge of installing and finishing the building’s closing details, such as baseboards, trim, doors, windows, and decorative features. These experts collaborate closely with architects, designers, and general contractors to ensure the finished product meets the desired specifications and design objectives. For Instance, in March 2023, according to a recent statistical report published by United States Census Bureau, a US-based federal statistical system, total construction spending in the United States was $1.54 trillion in November 2020, and it grew to $1.84 trillion in November 2022, reflecting a 16.3% rise. Therefore, the demand for commercial construction is driving the finish carpentry contractors market.
Technological advancements are a key trend gaining popularity in the finish carpentry contractors market.Major companies operating in the finish carpentry contractors market are focused on developing innovative solutions to strengthen their position in the market.
For instance, in December 2022, Eyrus Inc., a US-based workforce visibility platform, announced substantial platform enhancements with the launch of Eyrus Evolved, a full, end-to-end solution to assist general contractors make better decisions about progress, risk, and safety. The new technology features an easy-to-use, non-intrusive system that offers full workforce data and analytics in real-time via a Consolidated Workforce Database. Eyrus enables project teams to proactively adapt in dynamic project settings to favorably affect schedule, safety, and cost. The Eyrus platform decreases project administrative overhead by 25% by automating essential operations such as worker onboarding, project time keeping, and compliance reporting by integrating Construction IoT (Internet of Things) technology.
In September 2020, Kodiak Building Partners, a US-based wholesale building materials company, acquired Carpenter Contractors Of America for an undisclosed amount.With this acquisition, CCA brings broadens reach to the Kodiak family but also ensures the continued success, expansion, and enhancements of an already exemplary business.
Carpenter Contractors Of America is US-based manufacturer of roof trusses and wall panels.
The countries covered in the finish carpentry contractors market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA.
The market value is defined as the revenues that enterprises gain from the sale of goods and/or services within the specified market and geography through sales, grants, or donations in terms of the currency (in USD, unless otherwise specified).
The revenues for a specified geography are consumption values that are revenues generated by organizations in the specified geography within the market, irrespective of where they are produced. It does not include revenues from resales along the supply chain, either further along the supply chain or as part of other products.
The finish carpentry contractors market research report is one of a series of new reports that provides finish carpentry contractors market statistics, including finish carpentry contractors industry global market size, regional shares, competitors with a finish carpentry contractors market share, detailed finish carpentry contractors market segments, market trends, and opportunities, and any further data you may need to thrive in the finish carpentry contractors industry. This finish carpentry contractors market research report delivers a complete perspective of everything you need, with an in-depth analysis of the current and future scenario of the industry.
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