Dublin, Aug. 28, 2024 (GLOBE NEWSWIRE) -- The "Insulation Contractors in the US - Market Size, Industry Analysis, Trends and Forecasts (2024-2029)" report has been added to ResearchAndMarkets.com's offering.
Insulation contractors have had to roll with the punches in recent years because of market volatility. While commercial activity has recovered substantially from the pandemic's lows, it has revolved chiefly around renovating existing structures. While this has undoubtedly kept contractors busy, it hasn't led to a surplus. However, the residential sector has been a source of optimism. Low interest rates following the outbreak of COVID-19 stimulated housing starts, remarkably benefitting new single-family home-building projects. These trends were also extended by a boom in the multifamily construction market, providing sustained growth for insulation contractors.
Overall, revenue has been falling at a CAGR of 1.4% over the past five years to total an estimated $9.8 billion, including an expected 1.4% expansion in 2024.
Trends and Insights
- Insulation contractors have struggled amid an unfavorable operating environment.
- Higher interest rates are curtailing new commercial and residential work, leading to declining revenue. Increasing environmental consciousness has boosted the polyisocyanurate segment.
- Government incentives promoting green materials and energy-efficient practices have contributed to this surge. Small, niche-based insulation contractors dominate the industry.
- They often work to create a strong local presence and specialize in specific markets. As such, a solid reputation is key to their success. Insulation contractors face intense price-based competition.
- A stellar reputation for quality work and prompt delivery matters, but the crux of the internal rivalry hinges primarily on offering the best price.
Industry Overview
Industry revenue has declined at a CAGR of 1.4 % over the past five years, to reach an estimated $9.8bn in 2024. Market size is projected to grow over the next five years.
Nonresidential markets have been a mixed bag
While commercial construction activity has recovered considerably from pandemic-induced lows, much of this construction has been to existing structures, particularly as the various businesses that closed amid the pandemic required renovations to suit the needs of new businesses, not greatly benefitting insulation contractors.
Key Highlights
- Contractors will endure mixed performance in the nonresidential market
- Interest rate cuts will trigger new and expansions of stores, restaurants and other commercial buildings, providing a positive impetus for insulation contractors. Increased disposable income levels, coupled with a favorable economic climate, will drive the expansion of commercial building spaces.
Key Topics Covered
ABOUT THIS INDUSTRY
- Industry Definition
- Main Activities
- Similar Industries
- Additional Resources
INDUSTRY AT A GLANCE
INDUSTRY PERFORMANCE
- Executive Summary
- Key External Drivers
- Current Performance
- Industry Outlook
- Industry Life Cycle
PRODUCTS & MARKETS
- Supply Chain
- Products & Services
- Demand Determinants
- Major Markets
- International Trade
- Business Locations
COMPETITIVE LANDSCAPE
- Market Share Concentration
- Key Success Factors
- Cost Structure Benchmarks
- Basis of Competition
- Barriers to Entry
- Industry Globalization
MAJOR COMPANIES
OPERATING CONDITIONS
- Capital Intensity
- Technology & Systems
- Revenue Volatility
- Regulation & Policy
- Industry Assistance
KEY STATISTICS
- Industry Data
- Annual Change
- Key Ratios
JARGON & GLOSSARY
For more information about this report visit https://www.researchandmarkets.com/r/i2v3ub
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