Windows and Doors Market Size By Material (uPVC, Wood, Metal), By Application (Residential [New Residential, Improvement & Repair], Commercial [New Commercial, Improvement & Repair]), Industry Analysis Report, Regional Outlook, Growth Potential, Price Trends, Competitive Market Share & Forecast, 2018 – 2024
Published Date: Jul 2018 | Report ID: GMI2119 | Authors: Kiran Pulidindi, Hemant Pandey
Global Windows and Doors Market size was valued at over USD 190 billion in 2017 and is anticipated to grow at over 3.5% in the forecast timespan.
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Strong outlook in residential as well as commercial sectors including new constructions and renovation projects will drive the windows and doors market growth. Increasing construction spending accompanied by economic growth particularly in developing countries will support the industry demand. Necessity for privacy and improved sound insulation due to changing lifestyles will fuel the product demand. Changing demographic and income trends along with growing population are among major factors supporting the product demand.
Government investments in residential & public infrastructure coupled with suitable FDI policies have enhanced the product scope. Expansion in construction of commercial buildings including offices, educational institutions, hotels, and hospitals will stimulate the industry growth. Shifting focus towards service industry globally has propelled the windows and doors demand from commercial buildings. As per Indian Ministry of Tourism, construction of 259 hotels were approved in 2017. Rising demand from educational institutes, owing to increasing investments in training & education globally will support the industry demand.
Technological advancements and product innovations to offer premium designs, enhanced colour and better features are among key factors fuelling the windows and doors demand. For instance, development in smart products providing benefits including automation and enhanced security with help of sensors will propel the windows and doors market size. In addition, increasing penetration of advanced polymer-based materials including uPVC has stimulated the industry demand. Rising consumer awareness pertaining to eco-friendly material usages will support industry growth.
Changing raw material costs due to product availability and diversified demand are among the major factors influencing the window and door price trend. Increasing disposable income mainly in developing regions is expected to overcome the price fluctuations. Moreover, limited availability of metals along with stringent regulations on polymer usage and growing deforestation concerns may hamper the industry growth
|Base Year:||2017||Market Size in 2017:||190 Billion (USD)|
|Historical Data for:||2013 to 2017||Forecast Period:||2018 to 2024|
|Forecast Period 2018 to 2024 CAGR:||3.5%||2024 Value Projection:||260 Billion (USD)|
|Pages:||376||Tables, Charts & Figures:||481|
|Geographies covered (21):||U.S., Canada, Germany, UK, Italy, France, Russia, Belgium, Poland, China, India, Japan, South Korea, Indonesia, Malaysia, Brazil, Mexico, Saudi Arabia, Qatar, UAE, South Africa|
|Segments covered:||Material, Application and Region|
|Companies covered (41):||Andersen Corporation, JELD-WEN, Inc., Pella Corporation, SGM Windows, Performance Doorset Solutions Ltd. (PDS), ATIS Group, Vinylguard Window and door Systems Ltd., Neuffer Windows + Doors, Weru Group, B.G. Legno, Ponzio – P.IVA, Deceuninck NV, RENSON, Sokó?ka Okna i Drzwi S.A., Brazil Garage Door, TOSATTI, STOLLAR Systemy Okienne Godlewska Spó?ka Jawna, Cantera Doors, Glass Rite, Nawa International, Saudi Aluminium Industries Company (SALUMCO), TAMCO GULF LTD., Windoor Incorporated, Fenesta Building Systems, Strategy Landscape, Century Plyboards, Strategy Landscape, JARIDA, SWARTLAND, Specialized Aluminium & Steel Co., W.L.L(SASCO Group), Aluminium Technology and Auxiliary Industries WLL (Alutec WLL), ADO Group, JOSKO Window and Door GmbH, Strategy Landscape, YY Construction, Wanxin Doors & Windows Manufacturing, ARBO Windows, YKK AP, Inc., ILJIN Unisco, LG Hausys Ltd., PT. Sumatera Timberindo Industry, Strategy Landscape, PT. Yasanda, SKB Shutters Corporation Berhad, LS Venture Enterprise|
|Pitfalls & Challenges:||
Windows and Doors Market, By Material
uPVC windows and doors market will witness over 4% growth up to 2024. Lower maintenance cost and high durability are among the key factors surging the product demand. Superior corrosion resistance along with natural flame-retardant properties have created new opportunities for the product growth. Enhanced temperature resistance, maintaining the surrounding warm has stimulated the product demand particularly in European countries. However, higher chances for sagging coupled with relatively lower rigidity may impact the product adoption.
Wood windows and doors market was valued more than USD 60 billion in 2017. Superior mechanical properties along with innovative designs, patterns, and laminates will primarily drive the material scope. Design versatility along with aesthetic looks provide a positive outlook for product penetration particularly in exterior applications. Increasing consumer preference for naturally finished and luxury wood products will propel the business growth.
Windows and Doors Market, By Application
Windows and doors market from residential sector is anticipated to surpass USD 140 billion by 2024. Growth in residential constructions globally supported by increasing disposable income are among major factors driving the industry demand. Need for improved security coupled with innovative unlocking options have enhanced the product demand for new as well as replacement applications. Emerging economies, particularly India & China will witness rapid expansion in residential construction to fulfil the growing population needs.
Commercial application accounted for over 35% of the overall industry share in 2017. Rising number of healthcare, institutional, educational, retail and office constructions will support the window and door market size. Changing food habits and increasing demand for eating out has led to substantial investments by fast food chains. Increasing count of specialized hospitals such as diabetes and cancer treatment hospitals will fuel the product penetration. In addition, growing construction of hotels & restaurants due to expansion in tourism industry will provide positive outlook for industry demand. For instance, Saudi Arabia has planned to invest over USD 500 billion under travel and tourism to build a mega city.
Windows and Doors Market, By Region
Asia Pacific window & door market is anticipated to register over 750 million units demand by 2024. Rapid urbanization leading to increasing residential & commercial constructions will drive the regional demand. Favourable government policies & regulation coupled with increasing infrastructure investments in the region will propel the industry growth.
Strategic focus on service sector and information technology development by Chinese government will fuel the window and door market. Growth in residential construction, rising population and increasing disposable income will propel Indian industry share. As per IBEF, Indian real estate market will reach USD 180 Billion by 2020. Asia Pacific ranks second after North America in consumer spending. Moreover, inclination toward travel & tourism development particularly in South East Asia will support the business growth.
Europe windows and doors market will witness growth at over 2.5% up to 2024. Increasing government investments in infrastructure development are major factors driving the regional product demand. Growth in travel & tourism industry mainly in Spain, Germany, and UK has enhanced the product demand. As per European Builders Confederation, the construction sector accounts for around 9% of the EU GDP.
Competitive Market Share
Global windows and doors market share is highly fragmented with presence of large number of regional and international players. Jeld Wen, Anderson Corporation, Pella Corporation, Deceuninck, Fenesta, Centuryply, Renson, ATIS Group, Wintech, and Weru Group are among major industry players. Other prominent participants include YKK AP, SGM Windows, B.G. Legno, LG Hausys and PDS.
Strategic partnerships and collaborations with architects and builders are witnessed as among key strategies adopted by industry players to gain competitive edge. For instance, PDS partnered with SALTO Systems in April 2016, to develop their doorstep offering. Strategic R&D investments, product innovations & portfolio expansions are also observed among manufacturers. In May 2017, Jeld Wen enhanced its product portfolio in patio and vinyl product line to improve its customer base.
Window and door find high applicability in residential buildings, offices, hospitals, hotels, retail sector, and shopping centres. uPVC is used in commercial & residential applications on a large scale due to its insulation properties, and low maintenance. Expanding construction sector including new construction projects along with renovations in old buildings will positively contribute to the window & door market growth. Rising population and high consumer spending creating demand for new construction projects for residential and commercial applications will augment the product penetration.
Industry players are investing highly on R&D with increased focus on innovations through technological advancements to cater customer needs. Shifting trend towards smart windows and doors with enhanced security has stimulated industry growth. Rising demand for energy efficient products owing to increasing awareness regarding energy conservation will augment the product adoption. The advancements in additional components including locks based on fingerprint sensor and number locks have gained high consideration in the industry.
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