Dublin, June 05, 2024 (GLOBE NEWSWIRE) -- The "Lumber & Building Material Stores in the US - Industry Market Research Report" report has been added to ResearchAndMarkets.com's offering.
Over the past five years, the Lumber and Building Material Stores industry has experienced growth alongside steady growth in both housing starts and per capita disposable income. Rising disposable income has helped ignite remodeling activity, providing additional demand for lumber and other materials used in home improvement projects.
The industry is expected to have been able to post revenue growth in 2020 despite the economic uncertainty brought on by the pandemic. Thus, revenue has increased at a CAGR of 3.4% to $152.8 billion over the past five years, including an expected drop of 5.5% in 2023 alone. Further, industry profit has increased during the period as well.
Industry Trends
- Growing construction markets have boosted revenue amid economic uncertainty. Contractors and consumers rely on lumber and building material stores for a variety of new construction and renovation projects.
- Lumber is the bread and butter of the lumber and building material stores industry. Lumber is vital for construction projects, though competition from new materials and eco-friendly products has intensified in recent years.
- Lumber stores are concentrated close to upstream and downstream markets. This is done to cut down on transportation costs and increase convenience for consumers.
- Stores price products to maximize returns while tracking the prices that rival competitors charge for similar items. Growing competition with home improvement stores has sharpened the focus of keeping costs low.
- Mounting external competition encourages innovation. Businesses have experienced heightened competition from large home improvement stores. To stay competitive, businesses have had to offer more specialized products and services and loyalty initiatives.
- Technology and e-commerce play an increasingly important role. In addition to offering more specialized product offerings, businesses have started adopting technology for their everyday business practices. Most of this technology is focused on making orders easier and ensuring that stores have appropriate stock levels. Technology can also be helpful for scheduling employees and doing payroll.
Report Scope
This report covers the scope, size, disposition and growth of the industry including the key sensitivities and success factors. Also included are five year industry forecasts, growth rates and an analysis of the industry key players and their market shares.
A selection of companies mentioned in this report includes, but is not limited to:
- Builders Firstsource, Inc.
- 84 Lumber Company
- Lumber Liquidators
- Carter Lumber
Key Topics Covered
ABOUT THIS INDUSTRY
- Industry Definition
- Main Activities
- Similar Industries
- Additional Resources
INDUSTRY AT A GLANCE
INDUSTRY PERFORMANCE
- Executive Summary
- Key External Drivers
- Current Performance
- Industry Outlook
- Industry Life Cycle
PRODUCTS & MARKETS
- Supply Chain
- Products & Services
- Demand Determinants
- Major Markets
- International Trade
- Business Locations
COMPETITIVE LANDSCAPE
- Market Share Concentration
- Key Success Factors
- Cost Structure Benchmarks
- Basis of Competition
- Barriers to Entry
- Industry Globalization
MAJOR COMPANIES
OPERATING CONDITIONS
- Capital Intensity
- Technology & Systems
- Revenue Volatility
- Regulation & Policy
- Industry Assistance
KEY STATISTICS
- Industry Data
- Annual Change
- Key Ratios
JARGON & GLOSSARY
For more information about this report visit https://www.researchandmarkets.com/r/1z64wt
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