January 20, 2020
According to the research report titled ‘Doors Market Size By Product (Hinged, Sliding, French), By Material (uPVC, Wood, Metal), By Application (Residential [New Residential, Improvement & Repair], Commercial [New Commercial, Improvement & Repair]), Industry Analysis Report, Regional Outlook, Application Growth Potential, Price Trends, Competitive Market Share & Forecast, 2019 – 2026’, available with Market Study Report LLC, the global doors market is expected to cross USD 165 billion by the year 2026.
According to the research report, growing population along with rapid urbanization has led to rising infrastructural developments in the Asia-Pacific region which in turn are driving the growth of doors market. Favorable government regulations which encourage renovation of existing buildings are also aiding the expansion of the market.
Growing inclination towards green infrastructure coupled with shifting preferences towards luxury products are stimulating the industry outlook. Although there is an upsurge in demand for construction materials, high raw material costs may hinder the growth of the market.
As per product type, the report cites that sliding door market segment will hold 25% share during the estimated timeframe. Sliding doors offer airtight and soundproof insulation properties which further helps in enhancing the aesthetics appeal of residential construction.
In terms of material type, uPVC doors market segment is expected to expand with a CAGR of 5.5% during the period of 2019-2026. uPVC doors are cost effective and provide high versatility and strength. Easy availability of various laminates, patterns, and colors of uPVC doors will fuel the growth of the market.
Based on the application spectrum, the report states that residential door segment is expected to be worth over USD 65 billion by the year 2026. Growing population and favorable government initiatives which promote residential construction are boosting the segmental growth. Rising investment in renovation and remodeling activities are also aiding the market expansion.
Considering the geographical landscape, Asia-Pacific doors market is predicted to hold 40% share by the year 2026. The growth is attributed to rapid industrialization and urbanization along with favorable government policies in the region. However, ongoing trade war between U.S. and China and economic slowdown in India may hinder the market growth.
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On the other hand, North America doors market is expected to expand significantly during the forecast period owing to escalating investments by private and government entities on residential infrastructure development. Meanwhile, Europe doors market will witness considerable growth due to rising remodeling and renovating activities.
The prominent companies operating in the doors market are Shipyarddoor, Rite-Hite, PROTALP Automatic Doors, Stanley Access Technologies, Geze, Dorma+Kaba, Gilgen Door Systems, Boon Edam, Assa Abloy, Entrematic Group, Marvin Windows & Doors, Schuco International, MI Windows & Doors, Atrium Corp., YKK Corp., Masco Crop., Lixil Group Corp., Pella Corporation, Jeld-Wen Holdings and Anderson Corporation.
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