By: Casey Olson
The replacement window market is a sweet spot in U.S. residential window demand, driven largely by growth in the repair and remodeling segment. Manufacturers and installed sellers serving the replacement market earn above-market profitability and experience faster growth by targeting the homeowner and understanding what influences homeowner purchase decisions. That knowledge, in turn, will help manufacturers and installed sellers further succeed in this robust segment of the market.
STRONG R&R DEMAND GROWTH
Repair and remodeling demand generated almost two-thirds of the $17 billion U.S. residential window product demand in 2020, according to Principia research. R&R volume growth is expected to outperform new construction through 2023, growing at an annualized rate of 5.3 percent.