Trusted Business Insights presents the Updated and Latest Study on Doors Market 2019-2025. The report contains market predictions related to market size, revenue, production, CAGR, Consumption, gross margin, price, and other substantial factors. While emphasizing the key driving and restraining forces for this market, the report also offers a complete study of the future trends and developments of the market. It also examines the role of the leading market players involved in the industry including their corporate overview, financial summary, and SWOT analysis.
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Abstract, Snapshot, Market Analysis & Market Definition: Doors Market
Industry / Sector Trends
Doors Market size was valued over USD 90 billion in 2016 and is set to exceed 240 million units by 2024.
U.S. Doors Market Size, By Material, 2016 & 2024 (Million Units)
Increase in consumer spending on new construction as well as renovation of existing residential & commercial buildings will drive the global doors market growth. Rising demand for impact resistant & energy efficient housing infrastructure will stimulate market penetration.
Necessity to build more housing units in urban and rural areas to accommodate up surging population will fuel the product demand. Global construction spending registered about USD 1.16 trillion in 2016, with growth over 4.5%. Commercialization, improving government finances and public funding in emerging economies including India, Thailand and Indonesia will create more opportunities for industry growth.
High demand for hinged and sliding doors along with rising urbanization will propel the industry growth over the forecast years. Rapid economic development and growth in tourism sector has upsurged the building of restaurants, hotels, supermarkets, sports, cinema, and recreational multiplexes enhancing the product demand. Increasing government funds for infrastructure development ventures, public funding, and a decrease in the building material costs will fuel the market growth.
Legislative changes also have a significant impact on the market growth over the forecast period. For instance, British Standards Institute offers certification services with testing available for durability, security, and weather tightness. This provides the buildings with a proper standardised internal as well as external infrastructure and thus significantly drives the global doors industry development.
Technological advancements are expected to induce massive potential to the industry size due to increasing consumer inclination towards more advanced products. Several industry players along with engineers & scientists across numerous international laboratories are collaborating with architects and are concentrating on the development of efficient and cost-effective designs, thus meeting customer requirements.
However, fluctuation in prices due to variation in product cost, supply and demand severally affect the sales of doors globally. Higher demand for these products will put an upward price pressure. Manufacturers faces a downward price pressure with the increasing competition. Profit margins of the raw material suppliers also vary from 7% to 10% and thus negatively impacting the product demand.
Market Segmentation, Outlook & Regional Insights: Doors Market
Global Doors Market, By Product
Sliding doors will witness growth over 4.5% up to 2024. Easy installation, slimline design, lightweight along with sound proof and air tight insulation are among the key properties. These are used in residential construction as it creates the impression of enormous space and permit easy access to the garden or balcony which seems to widen the room.
Hinged doors market was worth over USD 25 billion in 2016. Superior features including easy fitting and lees space consumption will fuel the product demand in the residential application. In addition, growing demand for see-through structures will also propel its usage in commercial buildings. Increasing consumer preferences for traditional aesthetic looks will propel the french market demand. These are installed at outward openings to gardens, covered terraces patios and even balconies in different architectural styles to the houses.
Global Doors Market, By Material
uPVC doors market share accounted for more than 30% of the overall revenue in 2016. This growth is credited to the demand for energy efficient and light weight profiles which requires less maintenance. uPVC offers improved standards of insulation against outside noises. Furthermore, its total recyclable feature would attract more attention for the global market in the forecast period.
Metal doors market consist architectural aluminium products used in both residential and commercial properties. The material provides minimal maintenance along with a coated frame which can be painted and be matched with different colours of the users room. Aluminium is projected to witness a considerable growth over the forecast timeline due to its light weight, durability, corrosion resistance and ductility properties. Its extensive usage for manufacturing sliding and French type of the product will propel the demand.
Wooden doors are 56.9 million units in 2016. Better aesthetics, optimized waste generation, high performance, lesser carbon emissions, longer life cycle and better insulation are key factors driving demand. However, high product costing may hamper its affordability in the cost sensitive construction industry. In addition, increasing trends towards eco-friendly products will hinder the wooden gates demand.
Global Doors Market, By Application
Community development along with administrative subsidies accessible for residential construction will influence the industry demand positively. Renovations in households have observed an effective expansion in the past and are anticipated to continue in the forecast timeframe. Manufacturers are concentrating crucially on the new housing construction due to higher profitability achieved through its building.
Rising demand for energy-efficient products, mostly in new uptown projects, will significantly support the overall new residential doors market growth over the coming years. Growing economy and increase in consumer disposable income are key factors for increasing improvement and repair spending. Several traders are focusing majorly on the enhancement in the residential sector due to higher profitability achieved through the segment.
Commercial doors market will witness a valuation of over USD 60 billion by 2024. The demand varies depending upon the clients requirement with varied functions. Offices and IT industries mainly prefer sliding and hinged type due to its improved visibility, easy handling and better aesthetics to the infrastructure. Reduction in the overall energy usage of the building due to better visibility and insulation against heat will positively impact the overall new commercial market demand in the forecast timeframe.
Global Doors Market, By Region
Asia Pacific accounts more than 40% of the overall market and is expected to maintain its dominance over the forecast period. Rise in brand awareness and changing in consumer preference for high end products are major factors driving the product market growth. Additionally, growing regional economy coupled with rising disposable income, directly results in rise in spending on overall luxury products including decor, bathroom fillings and doors.
Europe door market was valued at over USD 27 billion in 2016. Increasing stringent government initiatives including Passive House to fix construction standards to achieve optimal energy efficiency in the building and its interiors is expected to enhance the product demand. Several countries including Switzerland, Germany, Ireland, Norway, Finland, UK, Belgium and Spain are increasingly adopting these guidelines to achieve high living standards along with better space management.
In Ireland, an average house designed on the Passive House standards instead of 2002 Building Regulations enacted by the Minister for the Environment and Local Government of the country, consumes 85% less energy due to better design structure of the product and other interiors. Reduction in the carbon emissions to due growing environmental friendly products will further boost the global market growth.
Key Players, Recent Developments & Sector Viewpoints: Doors Market
Global doors market is highly fragmented due to the presence of large number of market players in regional as well as local level. Several companies are engaged in partnership and collaboration to strengthen their market footprint. To capture a larger share of industry, the companies are expected to expand their supply chain network to benefit from being customer friendly. New players entry will increase gradually owing to high profit margins in the forecast period.
Some of the key industry players include Andersen, Jeld-Wen Holding, Pella, Lixil Group, Masco, YKK, Atrium, MI, Schuco International and Marvin. Other prominent players are Entrematic Group, Assa Abloy, Boon Edam, Gilgen, Dorma+Kaba, Geze, Stanley Access Technologies, PORTALP, Rite-Hite and Shipyard.
Global Doors Industry Viewpoint
Rising infrastructure events on a global scale along with growing improvement and repair demand across the commercial and residential sectors will drive the global door industry size. Improved governmental regulations, commercialization and new infrastructural designs in several emerging economies including India, China, Thailand, South Korea and Indonesia will propel the industry expansion.
Changing governmental regulations across the globe positively influence the product market providing a set of effective standards to construct better infrastructural interiors as well as exteriors. Thus, positively impacting the product market growth over the forecast timeframe.
Key Insights Covered: Exhaustive Doors Market
1. Market size (sales, revenue and growth rate) of Doors industry.
2. Global major manufacturers’ operating situation (sales, revenue, growth rate and gross margin) of Doors industry.
3. SWOT analysis, New Project Investment Feasibility Analysis, Upstream raw materials and manufacturing equipment & Industry chain analysis of Doors industry.
4. Market size (sales, revenue) forecast by regions and countries from 2019 to 2025 of Doors industry.
Research Methodology: Doors Market
- Data collection and base year analysis is done using data collection modules with large sample sizes. The market data is analyzed and forecasted using market statistical and coherent models. Also market share analysis and key trend analysis are the major success factors in the market report. To know more please Request a Sample Report.
- Demand Side Primary Contributors: OEMs, Industrial Professionals, Researches, Suppliers and Distributors, Group Purchasing Organizations, Associations, Insurers, Universities, Technological Writers, Scientists, Promoters, Investors among others.
- Supply Side Primary Contributors: Product Managers, Marketing Managers, C-Level Executives, Distributors, Market Intelligence, Regulatory Affairs Managers among others.
Quick Read Table of Contents of this Report @ WorldWide Doors Market, Industry / Sector Analysis Report, Regional Outlook & Competitive Market Share & Forecast, 2019 – 2025
This post was originally published on Downey Magazine