Doors Market size is estimated to cross USD 182 billion by 2027, according to a new research report by Global Market Insights Inc.
The growing residential and commercial segments in the construction industry is driving the doors industry growth. Increased renovation & remodeling activities and increasing consumer expenditure on house improvement activities are expected to fuel product demand. Various factors including growing population & disposable income, customer inclination toward improving their houses, and government initiatives to provide affordable housing are propelling the revenue generation.
Rapid urbanization, heavy investments in developing office spaces, and growing commercialization are some of the important factors augmenting the doors market expansion. Moreover, customers are increasingly renovating their homes with smart home technologies that can be accessed by customers from remote areas. This increases safety & durability and also the value of residential structures. Growing penetration of smart home technology in emerging countries, such as China, India, Vietnam, and Brazil, will have a positive influence on doors industry size.
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The market revenue will decline in 2020 due to the COVID-19 pandemic. The impact will create lower production output, supply chain constraints, and fluctuate raw material prices. Additionally, the demand for houses and remodeling will also be significantly influenced. The construction industry is anticipated to return to normalcy during the forecast period.
Browse key industry insights spread across 250 pages with 242 market data tables & 38 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, Growth Potential, Price Trends, Competitive Market Share & Forecast, 2021 - 2027” in detail along with the table of contents:
Sliding doors market is predicted to capture around 25% share as it offers various benefits including lesser space requirements for opening and closing compared to their counterparts. They are soundproof, provided with airtight insulation depending on their applications, and are aesthetically pleasing. Depending on the region, they can be used with double or multi-layered glass for enhanced insulation against harsh weather conditions. Furthermore, they do not produce any sound while opening and closing compared to other products.
The uPVC material segment is likely to witness more than 4% CAGR through 2027. The material has superior strength & versatility and is a competitively priced product, which will drive its demand. The material is widely used in the manufacturing of doors for household and commercial applications, providing insulation and energy-savings. Excellent sound & thermal insulation is an added advantage of uPVC doors. They are widely used for manufacturing hinged, sliding, and French doors. Varied choices for colors, laminates, and patterns are the key factors that boost the uPVC doors market growth.
The commercial application is set to observe steady growth during 2021 to 2027 propelled by increasing applications of metal and uPVC. Doors for commercial applications generally require good security from robbery and fire. Smart door technology used in these doors provides efficient security against fire & robbery. They work by setting off an alarm and notifying the owner about the mishap in the office. Doors that provide efficient security and require less maintenance are anticipated to spur the revenue generation.
Infrastructural upgrades to drive product demand in North America
North America doors market is poised to grow at over 3.5% CAGR till 2027. Increasing structure reforming in schools and hospitals will be a key factor in the expansion of the regional construction sector in the coming years. The recent decision of the court in favor of the Affordable Healthcare Act services will provide a stimulus for construction in the medical sector, which was dull for the last few years. The rising construction sector in Canada has resulted in high demand for doors. Increased investments in commercial projects, public infrastructure, and improvement in the interest of investors & consumers are projected to augment the doors industry growth.