Door less Opportunities for Bifold door Market growing at a CAGR of 5.2% from 2017 to 2023!!
The global demand for bi-fold doors is driven by growth in efficient doors that offer sufficient insulation as well as heat retention through the material of the panels.
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"Bi-fold Door 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"
North America is expected to offer lucrative growth opportunities, thereby registering the highest growth rate, owing to increase in expenditure on home remodeling and rise in consciousness towards interior decorations
Rapid urbanization globally and increase in disposable income are expected to boost the demand for bifold doors in the future.
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Further, growth in awareness among individuals towards interior designing and their propensity to spend on home remodeling are anticipated to fuel the demand.
However, the involvement of multiple hinges and panels for folding mechanism of bifold doors present a major challenge. As a result, they are usually challenging for do-it-yourself (DIY) users, which is projected to hinder this market. Moreover, the initial installation costs associated with bifold doors increase as the door size increases, impacting the growth further.
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The key players so projected are,
BiFolds BiDesign Ltd.
Chase Windows Co.
Euramax Solutions Limited
Kloeber, Nana Wall Systems Inc.
Origin Frames Ltd.
The Bi-folding Door Company.
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