New study by market research firm Fact.MR on the timber frames market. Latest trends, forecasts, and competitive landscape analyzed.
Rockville, Nov. 21, 2022 (GLOBE NEWSWIRE) — The global timber frames market is estimated at US$ 487.3 million in 2022 and is expected to expand at a CAGR of 7.1% till 2032, says market research and competitive intelligence provider, Fact.MR.
There has explicit demand for houses made from timber frames, which can be integrated with indoor plants, and fresh colours, which will enhance the space with ample ventilation and lighting. This aesthetic attribute of a timber house with added sustainability drives timber frames to be used as a replacement for synthetic building materials.
Changing regulations and policies for staying on the path of sustainability, there has been a keen interest shown by the governments to adopt low-carbon materials for building. Green buildings have become the potential solution providing more significant benefits through the use of sustainable materials. Timber is the material that is the only renewable resource used in construction possessing about 75% lesser carbon footprint as compared to concrete or steel. Thereby, timber is the contending material for developing green buildings.
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As compared to conventional buildings made from cement and steel, timber frame homes are 20-30% more economic. This is solely subject to regional availability and the positive network externalities followed in the region. Apart from the cost structure, timber frame homes can be delivered as a prefabricated model which shall reduce time-induced cost. All in all, reduced time and the cost of delivering home attract potential consumers to the Timber Frames Market.
Key Takeaways from Market Study
- The global timber frames market is estimated to grow at a CAGR of 7.1% in the forecast period 2022-2032
- The market witnessed a 6.4% CAGR for the period of 2017-2021
- Common truss dominates the market and is estimated to be valued at US$ 236.7 million in 2022
- North America is expected to be the crown of the market with a 62.5% market share in 2022
- Timber frames are extensively used for personal spaces and are likely to represent 84.9% market share in 2022
- North America and Europe’s demand for timber frames is expected to increase at CAGRs of 7.2% and 7.8%, respectively
“Green Building Projects and Growing Café Count to Bolster Market Growth Over the Forecast Period,” says a Fact.MR analyst.
Segmentation of Timber Frames Industry Research
- By Truss :
- Common Truss
- King Post Truss
- Hammer beam Truss
- Scissor Truss
- By Timber :
- By Application :
- Personal Spaces
- Commercial Spaces
- By Region :
- North America
- Latin America
- East Asia
- South Asia & Oceania
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Market players are constantly increasing their geographical expansion and tapping the emerging market in addition to maximum utilization of accessible resources. Players are also expanding their operations on higher scales in untapped regions with diverse product offerings, which primarily focus on customized solutions.
Furthermore, market players are taking efforts to increase their customer base by focusing on commercial spaces in addition to personal spaces.
Key Companies Profiled
- British Colombia Timber Frames Co.
- Canadian Timber Frames
- Daizen Joinery
- International Timberframes
- Okanagan Log & Timber Frames
- OT Timber Frames
- Purcell Timber Frames Homes
- Streamline TimberFrame
- Tamlin Timber Frames
- Timber Home Living
- Whiskey Creek Timber Framing
- Zirnhelt Timber Frames
What is Driving High Demand for Timber Frames in US?
The US is set to hold higher market potential over long-term forecast period owing to consumer preference towards inexpensive homes and lower construction schedules. Repair, renovation, and residential construction represent around a third of timber consumption in the region.
The increased demand for DIY products in the country is further bolstering demand. Of the DIY applications, timber frame also captures a significant place as consumers are trying to reduce the overall building cost and are inclined towards recreational platforms for constructing their own living space.
The personal space application segment has been the key area for growth showcasing a complete dominance over the commercial space as the consumer spending on housing is more in the United States.
The United States timber frame market is currently estimated at US$ 304.8 million in 2022 and is expected to reach US$ 352.9 million by 2032.
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More Valuable Insights on Offer
Fact.MR, in its new offering, presents an unbiased analysis of the global timber frames market, presenting historical market data (2017-2021) and forecast statistics for the period of 2022-2032.
The study reveals essential insights on the basis of truss (common truss, king post truss, hammer beam truss, scissor truss, others), timber (pine, spruce, oak, fir, larch, others), and application (personal spaces, commercial spaces), across major regions of the world (North America, Latin America, Europe, East Asia, South Asia & Oceania, and the Middle East & Africa).
Check out more related studies published by Fact.MR Research:
Timber Floor Joist Market: In recent years there have been an increase in the usage of timber floor joist due to widespread construction and infrastructural development happening across the globe. Timber floor joist are straight supporting structures that keep running between walls, foundations, or beams to help the floor.
Timber Trailers Market: Fact.MR’s report on the timber trailers market expects sales to rebound in the aftermath of the COVID-19 pandemic, as key countries anticipate a post-pandemic resurgence in outdoor activities, including logging.
Sawn Timber Market: The global sawn timber market is valued at USD 491.2 Million in 2022. The market is expected to grow with a CAGR of 4.15% in the forecast duration. Moreover, the sawn timber market is anticipated to cross a valuation of USD 737.65 Million by the end of 2032.
Cross Laminated Timber Market: The cross laminated timber is a wood panel (similar to plywood) product produced from bonding layer of lumber together. The one layer of boards is perpendicularly attached to another by glue and builds the strong laminated sheet.
Mechanical Services Market: The global mechanical services market is estimated to progress at a CAGR of 4.7% from 2022 to 2032. The market is expected to reach a size of US$ 14.9 billion by the end of 2032, up from its current valuation of US$ 9.4 billion.
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