In this article, we take a look at the top 15 door and window manufacturing companies in the USA. You can skip our detailed analysis of the manufactured building materials industry and go directly to Top 5 Door and Window Manufacturing Companies in USA.
The market circumstances for the door and window manufacturing industry are rather gloomy. The housing crisis has been further exacerbated by Fed rate hikes, supply-chains disruption and increasing construction costs, wrecking the windows-and-door-manufacturers’ balance sheets.
The year 2022 saw low existing stock for residential inventory. However, unaffordability proved to be an obstruction in the potential rise of demand for new residential properties. According to the US Department of Housing and Urban Development, the sale of new homes was down 15.3% in November, 2022 relative to November, 2021.
“Buyers are facing sticker shock due to deteriorating affordability conditions and a lack of existing home inventory.”
Danushka Nanayakkara-Skillington, NAHB
Rising interest rates, combined with increasing construction costs, which are up more than 30%, and supply-chains disruption have all led to builder confidence dropping to 31 in December 2022, below the industry forecast of 34.
While builders are trying to use incentives like mortgage rate buy-downs and price reductions, inflation is making it harder to sustain them. In December, 2022, only 35% of builders offered discounts on new houses, down from 36% in November.
Industry Trends and Key Players
Several industry trends are expected to shape the market in 2023 and beyond. For instance, the Biden administration’s move to end tariffs on steel and aluminum being imported from the UK is expected to cushion the industry from the current headwinds’ impact, providing some relief in manufacturing costs.
The industry is also experiencing significant levels of consolidation, driven primarily by private equity and corporate boards. The trend was at its most visible with the acquisition of Cornerstone Building Products Inc. by the private equity firm Clayton, Dubilier & Rice, LLC.
A manufacturing trend in the industry that has recently come into the limelight is the use of Wood Plastic Composites (WPC), which are more environmentally sustainable than traditional composites, and also more cost-effective.
The market for WPCs is projected to grow at a CAGR of 12.38% during the period of 2022-2030, per the Precedence Research forecasts.
As far as key players go, JELD-WEN Holding, Inc. (NYSE:JELD), Masonite International Corporation (NYSE:DOOR) and PGT Innovations, Inc. (NYSE:PGTI) are some of the most prominent public companies in the door and window manufacturing industry.
Outlook: 2023 and Beyond
The beginning of the pandemic saw a fall in demand for commercial entry doors, but the Fenestration and Glazing Industry Alliance expects 0.3% in recovery for 2023.
The commercial windows market, on the other hand, lost a market share of $300 million in 2020, and was valued at $2.5 billion in the year. It is projected to grow by a CAGR of 3.2% during the forecast period of 2020-2027, reaching a valuation of $3.6 billion in 2027, according to the report of Grand View Research.
The new commercial segment is the primary market for windows, accounting for 78.2% of the market share, with the rest going to the refurbishment segment.
The vinyl segment was the dominant subsector, accounting for a market share of 54.3% of the overall windows market in 2019. The segment is estimated to be valued at $2 billion in 2027, growing at a CAGR of 3.6% during the 2020-2027 forecast. The New York state dominated the states’ share in the windows market, accounting for 10% of the market in 2019.
Against this backdrop, let’s move to the top 15 door and window manufacturing companies in the USA.
Our Methodology
For our list, we’ve defined top companies as ones that have generated highest revenue in their respective fiscal years and ranked them in a descending order from low to high revenue. For revenue data for private companies, we’ve relied on sources like Forbes, IncFact and ZoomInfo. We’ve averaged out the companies’ revenue from these sources for more rigor.
Here are the top 15 door and window manufacturing companies in the USA.
15. Milgard Windows & Doors
Revenue: $0.7 billion
Milgard Windows & Doors is based in Tacoma, Washington. It is a vertically integrated manufacturer of windows and patio doors, employing over 3,000 people in the US. It is a 50-year veteran company in the fenestration industry.
Milgard Windows & Doors was acquired by MI Windows and Doors in 2019 from Masco Corporation (NYSE:MAS), its previous owner, for over $700 million.
“MI and Milgard align culturally, complement each other’s strengths, and allow for geographic expansion of our already popular product lines,”
Matt DeSoto, CEO, MI Windows and Doors
Milgard Windows and Doors has a dominant market in the Western part of the country, while MI is dominant in the Southern and Eastern parts of the US. The acquisition is expected to greatly increase MI’s share in the Western US market.
14. Woodgrain Millwork
Revenue: $0.7 billion
Woodgrain Millwork is one of the largest millwork manufacturing companies in the world. It is based in Fruitland, Idaho, and manufactures many products including doors and windows.
Woodgrain is directly involved in doors among other products but the company’s primary subsidiary – Windsor Windows and Doors, is its specialist arm for doors and windows. The company manufactures vinyl window and patio doors, cellular PVC windows, entry doors, wood windows and patio doors. Apart from the US, the company also sells its products in Canada, China and Mexico.
13. Alside
Revenue: $0.7 billion
Alside is a subsidiary company of Associated Materials, another top windows and doors company. It manufactures vinyl windows and patio doors and is based in Cuyahoga Falls, Ohio. It had an estimated revenue of $750 million in the fiscal year of 2021.
12. MI Windows and Doors
Revenue: $0.7 billion
MI Windows and Doors is another one of the top door and window manufacturing companies in the USA. It is headquartered in Pennsylvania. The company had an estimated revenue of $0.7 billion in 2021.
11. Lansing Building Products
Revenue: $1.1 billion
Lansing Building Products is another one of the top door and windows manufacturing companies in the USA. It had a revenue of $1.1 billion in 2020, owing to its own net sales and those resulting from its acquisition of distribution stores of Harvey Building Products.
The acquisition resulted in Lansing Building Products adding 36 more branches in the Northeast, totaling 113 Lansing branches in 35 states.
During roughly the same period, Markel Corporation (NYSE:MKL) announced that it had entered into a definitive agreement to buy the majority share in Lansing Building Products.
10. PGT Innovations, Inc. (NYSE:PGTI)
Revenue: $1.16 billion
PGT Innovations, Inc. (NYSE:PGTI) is a public company based in Nokomis, Florida. In the fiscal year ending in 2022, the company had a revenue of $1.16 billion. PGT Innovations, Inc. (NYSE:PGTI) markets its windows and doors as storm resistant, given Florida’s historical predicaments with hurricanes.
9. Apogee Enterprises, Inc. (NASDAQ:APOG)
Revenue: $1.3 billion
Apogee Enterprises, Inc. (NASDAQ:APOG) is a windows and doors manufacturer based in Minnesota. Apogee Enterprises, Inc. (NASDAQ:APOG) had a revenue of $1.3 billion in 2022. It designs and manufactures aluminum window frames and storefronts.
Being a public company, Apogee Enterprises, Inc. (NASDAQ:APOG) is in the same league as JELD-WEN Holding, Inc. (NYSE:JELD) and Masonite International Corporation (NYSE:DOOR).
8. Marvin
Revenue: $1.4 billion
Marvin is another top company on the list of top door and window manufacturing companies in the USA. It is headquartered in Warroad, Minnesota. It designs and develops both windows and doors in various types. The company’s 2021 revenue was $1.4 billion.
7. Associated Materials
Revenue: $1.6 billion
Associated Materials, like Alside, is based in Cuyahoga Falls, Ohio. Apart from Alside, which is the leading subsidiary company of Associated Materials, it also comprises Gentek, Alpine Windows and Preservation, with all of them involved in windows, doors and other residential-building-material manufacturing.
In another example of consolidation within the industry, Associated Materials was acquired by Strategic Value Partners Global (SVP Global) in March, 2022. SVP Global is a global investment firm with more than $18 billion in assets under management as of 2022. Associated Materials had a 2021 revenue of $1.6 billion.
6. The Pella Corporation
Revenue: $2.2 billion
The Pella Corporation is one of the largest private windows and door manufacturing corporations in the US. The company is based in Pella, Iowa. Pella employs roughly 6,000 people and operates through 14 locations in the United States.
The company designs and manufactures patio doors, front doors and storm doors. On the windows front, it manufactures vinyl, fiberglass and wood window frames.
Despite being a private company, Pella’s business scale closely matches that of companies like JELD-WEN Holding, Inc. (NYSE:JELD) and Masonite International Corporation (NYSE:DOOR).
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Disclosure: none. Top 15 Door and Window Manufacturing Companies in USA is originally published on Insider Monkey.