The collapse in orders in the construction industry due to inflation, interest rates, stricter lending and uncertainty is affecting the entire real estate market and its suppliers. This also affects the domestic window industry, which shrank last year. This emerges from calculations by the Vienna market research institute Brancheradar. Accordingly, manufacturers’ sales fell by 7.9 percent to 950 million euros compared to 2022 – despite almost eight percent higher sales prices.
According to industry radar, the decline is equally distributed between new construction and renovation business. Sales fell by around nine percent in new buildings and around seven percent in renovations.
Lowest level in 30 years
Fewer windows were replaced in single-family homes: demand fell by 18 percent and fell to its lowest level in the past 30 years. This was largely due to the price level: consumers had to invest 30 percent more for new windows than three years before. It is said that federal and state funding would have at best cushioned half of the price increases.
The manufacturers expect the renovation to provide impetus. Industry radar managing director Andreas Kreutzer is skeptical: “Since window prices are now coming under pressure, but the demand for new buildings is continuing to shrink, we are even expecting a decline in sales of around ten percent for 2024.”
The window industry is strongly in Upper Austrian hands, with the manufacturers Internorm, Josko, Entholzer and Actual. As reported, they recently cut hundreds of jobs.
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Source: Nachrichten
