Bifold Doors Market by Opportunities, Trends, Industry Analysis and Market PlayersThe global bifold doors market was valued at $9,779 million in 2016 and is projected to reach at $13,929 million by 2023, growing at a CAGR of 5.2% from 2017 to 2023. Asia-Pacific is expected to be the leading contributor to the global bifold doors market, followed by Europe and North America.
The rise in the adoption of energy-efficient doors and the application of bifold doors as door-wall systems are expected to drive the bifold doors market. In addition, bi-fold doors provide assistance in maximizing the space without significant change in the architecture, which is expected to propel the growth.
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Asia-Pacific accounted for the major share of the global bifold doors market in 2016, owing to rapid urbanization and an increase in the disposable income of the individuals in China and India. North America is estimated to grow at the highest rate, followed by Asia-Pacific.
KEY FINDINGS OF THE STUDY
• In 2016, the glass segment accounted for the maximum revenue and is projected to grow at a notable CAGR of 5.2 during the forecast period.
• The exterior doors segment accounted for around 66.3% share in 2016.
• UK and France are the major shareholders in the Europe bifold doors market, accounting for more than 44.2% share in 2016.
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The key players profiled in the bifold doors market include Andersen Corporation, BiFolds BiDesign Ltd., Chase Windows Co., Euramax Solutions Limited, JELD-WEN, Inc., Kloeber, Nana Wall Systems, Inc., Origin Frames Ltd., Pella Corporation, and The Bi-folding Door Company. Market players have adopted various strategies such as product launch, collaboration & partnership, and acquisition to expand their foothold in the market.
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