Global Doors Market size to exceed $165 bn by 2026
Published Date: December 2, 2019 Authors: Kiran Pulidindi, Soumalya Chakraborty
Doors Market size is estimated to surpass USD 165 billion by 2026; according to a new research report by Global Market Insights, Inc.
Energy savings will boost European infrastructure refurbishment activities
Supporting European policies for long term energy savings & efficiency improvement will be the key factors propelling the doors market growth by 2026. Some of these policies include Energy Performance of Buildings Directive (EPBD), Energy Efficiency Directive (EED), Ecodesign, and Energy Labelling Directives, etc. Further, the European Union has intended to accomplish zero carbon emission by 2050, which will be creating an opportunity for refurbishment activities of existing buildings in the region.
Although government has taken initiatives for improving refurbishment market in this region, the renovation rate in European countries is only about 1% to 2% as of 2015. However, growing concerns over the increasing energy consumption by the existing buildings will be creating the requirement for refurbishment activities across the region, thereby propelling the industry growth over the projected period.
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Browse key industry insights spread across 175 pages with 235 market data tables & 27 figures & charts from the report, “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” in detail along with the table of contents:
Customization alternatives driving the French doors popularity
French doors market will capture around 15% share of the total industry share by 2026 owing to their key benefits in the houses featuring traditional architectural designs. These doors are fitted with outward openings towards balconies, terrace, gardens, covered patios, etc. Further, these doors are available in a range of customizable materials including oak, white primed wood & walnut, that will further create a rising demand for French doors in the future.
Metal doors market will be growing at significant rate and will be generating a market revenue of more than USD 55 billion by 2026. These types of doors are extensively used for the application of security doors owing to their higher strength & rigidity. Many commercial and industrial buildings utilize these type of doors as it offers benefits of thermal insulation, fire resistance, anti-corrosive properties, etc. to the end-users.
Commercial applications will be growing at an approximate rate of 5% during the forecast timeframe. Increasing IT infrastructure and manufacturing activities in the Asia Pacific along with favorable government FDI policies will drive the industry growth by 2026.
Increasing new residential construction activities will develop North America doors industry
North America doors market will likely be worth approximately USD 30 billion in 2026. This is owing to rising population & urbanization along with enhancement in the domestic manufacturing activities in the region. Significant drop in the oil prices in recent years have created an opportunity for consumers to spend more. Further, rapidly growing residential construction activities in the region will further create an opportunity for increasing door sales during the forecast timeframe.
Latin America will exhibit a considerable growth of more than 4.5% by 2026. Rising government investment for infrastructure and commercial projects will be the key driving factors for the doors market development. Positive outlook from the industrial sector across the region mostly from Mexico will drive the regional growth over the study period. Moreover, the continuous supply of manufactured goods from the country to the U.S. is further boosting the market size.
Key players are entering into strategic agreements with other players
The key companies providing doors include Masco Corporation, Marvin Windows & Doors, Gilgen Door Systems, Geze, PORTALP Automatic Doors, Stanley Access Technologies and so on. These manufacturers invest into building strategic relationships with other industry participants to intensify their competitiveness. For instance, in 2016, Pella Corporation completed the acquisition of Reilly Windows & Doors. This strategy enabled the company to significantly enhance its product offerings and increase door production for catering to a wide customer base.
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