By 2024, Window And Door Frame Market for Commercial Application Segment to Exhibit Substantial Growth
Window And Door Frame Market is anticipated to surpass USD 130 billion by 2024 with a CAGR of over 5% from 2016 to 2024.
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The development of smart city projects is anticipated to drive the window and door frame market in the European region. In colder climates, customers are more inclined to purchase wooden frames that can aid in trapping heat inside the building and decreasing the expenditure on heating systems. In South-East Asian regions, the high availability of low-cost raw materials and electricity is leading to an increase in production plants.
Rapid industrialization and the movement to urban locations is anticipated to increase construction activities of commercial and residential buildings. The Chinese government, for instance, has launched massive airport development projects such as the Beijing Daxing International Airport and the Chengdu Tianfu International Airport. Additionally, rising health and safety concerns of building owners and government officials over old building structures is causing an increase in the demand for renovation and remodeling projects. This is a major factor contributing to the growth of the window and door frame market.
Vendors in the global window and door frame market include: -
1. Sapa Building Systems
6. Jeld-Wen Holding Inc.
7. Andersen Corporation
8. Marvin Windows & Doors
12. YKK Corporation
13. MI Windows and Doors LLC.
Companies operating in the window and door frame market are required to undertake business strategies such as acquisitions, mergers, and product innovations. For instance, in May 2015, Marvin Windows & Doors, announced the acquisition of TruStile Doors for the expansion of their product offerings and to obtain a larger target base.
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Window and Door Frame Market, By Application: -
The commercial application segment of the window and door frame market is projected to dominate in terms of CAGR during the forecast timespan. This is largely attributed to the increasing construction projects undertaken across the world. Additionally, consumers are placing a high focus on durable and eco-friendly products that can withstand heavy exposure to natural elements and provide adequate protection against incidents caused by natural and human interventions.
Window and Door Frame Market, By Material: -
The metal window and door frame market segment are anticipated to exhibit substantial growth owing to their high durability and increased insulation and resistance against fires. These products are ideal in settings experiencing high traffic with high susceptibility to break-ins and thefts, such as retail stores, prison buildings, apartment locations, and more.
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