5.3.12.3Vertical

Glazing & Curtain Wall

Glazing contractors installing commercial glass and curtain wall systems.

Market snapshot

These figures describe Specialty Exterior Contractors (5.3.12), the segment that Glazing & Curtain Wall sits within. They are not figures for Glazing & Curtain Wall on its own.

Market size
~$251B
Growth
~9.0%CAGR (2017–22, nominal)
Companies
~116,450 firms
Firms by employee count

92.5% of firms have fewer than 20 employees: 107,730 micro-businesses, below most mandates.

The investable universe8,720 firms with 20+ employees
20–99
7,72289%
100–499
8249%
500+
1742%

Roofing, siding and masonry are storm-and-replacement businesses as much as new-build ones, which is why growth outran general contracting: insurance-funded replacement work does not wait for the construction cycle. Fragmentation is extreme and consolidation is active, particularly in roofing where route density drives margin.

NAICS 238130, 238140, 238150, 238160, 238170, 238190, 238990. U.S. Census Bureau, 2022 Statistics of U.S. Businesses; U.S. Census Bureau, 2022 Economic Census.

Business model & economics

Revenue model

Trade-contract work for new build and replacement

Key economics

Revenue per firm
$2,153,158
Revenue per employee
$281,047
Employees per firm
7.6
Recurring revenue
Low–Moderate

replacement and storm-repair demand

EBITDA margin
Trade-dependent; roofing attractive
Capex intensity
Low

Characteristics

  • Scale-driven: payroll is only 22% of revenue, so the cost base is assets, not headcount
  • Deep strategic-buyer pool: 174 firms exceed 500 employees, so a scaled asset has trade buyers
  • Local structural and exterior trade contractors.
  • Roofing/re-cladding adds replacement-driven demand.
  • Roofing an active PE roll-up theme.

NAICS 238130, 238140, 238150, 238160, 238170, 238190, 238990. U.S. Census Bureau, 2022 Statistics of U.S. Businesses; U.S. Census Bureau, 2022 Economic Census.

M&A deal context

Deal activityHigh

Who’s acquiring

  • PE-backed roofing & trade platforms
  • Regional trade consolidators
  • Building-services strategics

What’s driving deals

  • Roofing and exterior-trade roll-ups.
  • Replacement and storm-repair demand.
  • Fragmented local-contractor consolidation.

Find Glazing & Curtain Wall acquisition targets

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