Interior Doors Market Expected to Reach $85,410 Million by 2025 with top key players: Artisan Hardware, Bayer Built WoodWorks Inc., Chaparral Doors, Colonial Elegance Inc., Concept SGA., Contractors Wadrobe, Jeld-Wen Holding Inc., Masonite International C
According to a new report published by Allied Market Research, titled, Interior Doors Market by Door Type, Material, Mechanism, and End User: Global Opportunity Analysis and Industry Forecast, 2018-2025, the global interior doors market was valued at $52,616 million in 2017, and is expected to reach at $85,410 million by 2025, growing at a CAGR of 6.3% from 2018 to 2025. The panel doors segment accounted for the maximum share in the global interior doors market revenue in 2017, and is expected to grow at a CAGR of 6.1% during the forecast period.
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The demand for interior doors is driven by surge in residential & non-residential construction activities, development of energy-efficient doors, and surge in home improvement & remodeling expenditures. Moreover, doors are manufactured using various materials such as wood, metal, glass, fiberglass, fiberboard, vinyl, and others. The fiberboard segment is estimated to witness higher growth rate as compared to glass, metal, and wood, owing to its lower cost and multiple benefits. In 2017, the residential segment is expected to grow at a relatively higher rate during the forecast period. Moreover, the developed regions, such as the U.S. and Western Europe, showed greater penetration of residential over non-residential construction due to recovery of the housing construction market over the last few years. In addition, increase in demand for non-residential construction sectors, namely, lodging & commercial sectors in the U.S. and office & retail sectors in Western Europe is expected to boost the growth of the interior doors industry. Furthermore, rapid industrialization & urbanization, rise in population, and surge in disposable income propel the market growth.
At present, the demand for interior doors is relatively higher from residential over non-residential construction due to improvement in the residential construction market over the last few years in the developed regions, such as North America and Western Europe. Furthermore, rapid industrialization and urbanization act as the key drivers for the growth of the global interior doors market. Moreover, rise in population and surge in disposable income fuel the market growth.
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Introduction of modern technologies, such as use of uPVC instead of metal, glass, and wood, is expected to propel the demand for interior doors made of uPVC, owing to its lower weight, recyclable property, low maintenance, and thermal insulation properties. Moreover, European Union worked on regulatory reforms to promote the use of energy - efficient insulations to minimize carbon footprint
In addition, in many regions, government has implemented building codes to have a profound impact on the comfort & safety of residents, and the cost of construction & home oration processes. Most of the U.S. communities adopt the International Code Council’s I-Codes, which address all aspects of single-, two-, and multi-family construction, including structural elements and electrical, plumbing, heating, ventilation, and air conditioning systems; and energy conservation requirements. These codes are updated in every 3 years. These regulations help in designing standardized structure & frames for the interior doors. This results in increase in awareness of effectiveness of energy-efficient interior door systems among building owners and consumers.
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In 2017, the residential segment witnessed a significant growth rate of 6.7% in the market. The majority of the growth is expected in the emerging regions of Asia-Pacific and Africa. The residential segment is driven by the economic recovery in the U.S. and Europe, rise in living standards, increase in disposable income, and growth in awareness related to the availability of energy-efficient & eco-friendly interior doors.
Asia-Pacific accounted for over 50% of the market share, and is anticipated to maintain its dominance during the forecast period. The analysis for interior doors market is provided for all the four regions covered in the report. The North America and Europe markets have attained maturity due to the presence of a large number of players.
Key Findings of The Study
The panel doors segment generated the highest revenue in 2017, and is projected to grow at a CAGR of 6.1% during the forecast period.
The fiberboard material segment is expected to grow at a significant CAGR of 7.9%, owing to growing focus on lightweight and cost-effective raw materials.
China is the major shareholder in the Asia-Pacific interior doors market, accounting for 40% of the market share in 2017.
The key players operating in the market have adopted strategies such as acquisition and product launch to sustain the intense competition. In addition, increase in R&D activities by various market players to produce energy-efficient & sustainable interior doors are expected to provide new opportunities for the door manufacturers in the near future.
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We are in professional corporate relations with various companies and this helps us in digging out market data that helps us generate accurate research data tables and confirms utmost accuracy in our market forecasting. Each and every data presented in the reports published by us is extracted through primary interviews with top officials from leading companies of domain concerned. Our secondary data procurement methodology includes deep online and offline research and discussion with knowledgeable professionals and analysts in the industry.
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