NAICS 23551 - Carpentry Contractors
This industry comprises establishments primarily engaged in framing, carpentry, and finishing work. The carpentry work performed includes new work, additions, alterations, and maintenance and repairs. Activities performed by establishments in this industry range from the installation of doors and windows to paneling, steel framing work, and ship joinery.
Industry trends:
The carpentry contractors industry, classified under NAICS 23551, is witnessing several significant trends that are shaping its landscape. One notable trend is the growing emphasis on sustainability and environmentally friendly practices. Contractors are increasingly adopting green building techniques and using eco-friendly materials to meet the rising demand for sustainable construction. This trend is expected to continue as consumers and regulators push for more environmentally responsible practices.
Another trend is the integration of advanced technology. Digital tools such as Building Information Modeling (BIM) and custom carpentry software are becoming integral in project planning and execution. These technologies enhance accuracy, streamline operations, and reduce waste, ultimately leading to cost efficiencies and improved project outcomes.
There is also a noticeable shift towards prefabrication and modular construction. By assembling components off-site, carpentry contractors can reduce on-site labor costs and construction times, while maintaining high-quality standards. This method is gaining traction due to its efficiency and ability to meet tight project deadlines.
The industry is also experiencing a talent shortage, driving a demand for skilled carpenters. As older workers retire, there is an urgency to attract and train new talent to fill the gap. Apprenticeship programs and partnerships with vocational schools are becoming more prevalent to address this issue.
Looking to the near future, the carpentry contracting industry is expected to continue its growth trajectory, driven by the ongoing demand for residential and commercial construction. However, challenges such as fluctuating material costs and regulatory changes will require contractors to stay adaptive and innovative.
This industry is comprised of:
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- Region
- Employees
- Net Sales
- Company Age
- Total Assets
- Ownership Type
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