Novel upfront technology and planning in framing turnkey designs of timber frame buildings are set to provide higher growth to the market over the long-term forecast period. Integrated frame designs are anticipated to cut construction schedule times by nearly 50%, and the overall cost of labor as well that is incurred with conventional building methods.
Also, lowered cost of construction and attractive designs, and consumer inclination towards selected turnkey designs, will bolster overall demand for timber frames. Strong supply-side winds are expected to turn the tables towards the brighter side and provide long-term headwinds to the timber frames market.
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As per Fact.MR analysis, the global timber frames market is set to expand at a healthy CAGR of over 6% over the forecast period of 2020 to 2030.
Key Takeaways from Global Timber Frames Market Study
- The global timber frames market is anticipated to add 2.1X value by 2030 as compared to 2020.
- Common truss captures a governing share of the global timber frames market, and is set to create around US$ 230 Mn opportunity over the long-term forecast period.
- Fir is the fastest-growing segment in the timber frames market, owing to rapid growth of fir production across Canada and the United States.
- North America is set to dominate market revenue in 2020, and is expected to gain 34 BPS in its market share by 2030 over 2020.
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- Personal space application is anticipated to lose around 260 BPS over the forecast period of 2020-2030.
- The U.K., Canada, and the United States of America are key countries dominating the demand for timber frames.
“Timber frame market growth is set make moves in accordance with regional policies and construction industry tunes,” says a Fact.MR analyst.
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Fragmented High Potential Market: Competition Tuning Factor
Key manufacturers in the timber frames market are Randek, Taylor Lane Timber Frame Limited, Walker Timber Engineering, Persimmon Plc, WIGO GROUP, Low Field Timber Frames, Canadian Timber Frames, Tamlin Timber Frames, Bensonwood, Texas Timber Frames, Purcell Timber Frames Homes, and British Colombia Timber Frames Co. The market is fragmented in nature, with thousands of players positioned in North America and Europe.
Growing demand for timber frames and dynamic building codes have allowed market valuation to grow rapidly in the past half-decade. Despite market fragmentation, higher potential of the product will attract new players in the market over the coming years.
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