Global Bifold Doors Market 2017 Analyzed by Top 5 Key Players by Size, revenue and Forecasts To 2023

Bifold Doors Market was valued at $9,779 million in 2016 and is expected to reach $13,929 million in 2023, growing at a CAGR of 5.2% from 2017 to 2023. Doors constitute a vital part of the infrastructure as they provide entry as well as exit points. Further, they provide insulation, separation of rooms, and protect the interiors of the house from external temperature conditions.

Bifold doors constitute a combination of panel doors logically hinged, leading to folding of the panels. This folding mechanism allows the doors to co-exist as door-walls systems, which enhances the visual appeal of the interiors. Bifold doors are applicable in patio doors, balcony doors, interior dividers, a combination of glass and wall systems, and store & restaurants front doors among others. They can also be used for large cabinets, in-built closets doors that require minimum opening and closing space, and suitable for replacement doors.

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Rise in adoption of energy-efficient doors and application of bifold doors as door-wall system are expected to drive the bifold doors market. In addition, bifold doors provide assistance in maximizing the space without significant change in the architecture, which is expected to propel the growth. However, the high costs associated with installation of bifold doors may hamper this growth. Moreover, the installation of bifold doors can be challenging to do-it-yourself users, which may impede the market growth.

In 2016, the glass segment accounted for the maximum revenue share in the overall bifold doors market by material, as this material ensures insulation and provides energy-efficient doors. Moreover, the application of glass bifold doors as door-wall system is widely preferred by various residential users. Fiberglass segment is expected to grow at a fastest CAGR of 7.1%, owing to superior insulation and lower maintenance. Moreover, the glass and wood segments are expected to generate maximum revenue during the forecast period.

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Asia-Pacific accounted for the major share of the global bifold doors market in 2016, owing to rapid urbanization and increase in disposable income of the individuals in China and India. North America is estimated to grow at the highest rate, followed by Asia-Pacific.

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