At 5.1% CAGR Doors Market Accelerating the Growth Opportunities during COVID-19 Scenario
The global doors market is anticipated to grow owing to the growth of multifamily housing trends. In addition, an upsurge in consumer expenditure on home improvement & renovation activities and development in new construction activities are anticipated to offer remunerative opportunities for the door market development.
Moreover, advancements by industry players, increase in residential & commercial construction activities, and upsurge in home renovation & remodeling expenditures propel the global doors market growth. In addition, rise in urbanization and industrialization in countries such as Africa, India, and others, is anticipated to provide remunerative opportunities for the market. Nevertheless, fluctuations in raw material prices are expected to hamper the growth of the doors market.
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The major companies in the global market adopted product launch, acquisition, and expansion as their key developmental strategies to meet the change in demands from consumers. Moreover, they launched technologically advanced doors of different sizes and varieties to strengthen their product offerings and position in the market. For instance, in February 2019, JELD-WEN launched the new F-2500 folding patio door system for application in the remodel and repair and new construction markets. It is a two-panel fiberglass folding patio door that has an advanced design and is reasonable. In addition, it characterizes a bottom mounted hardware track and an aluminum-clad frame.
The doors market is segmented based on material into wood, metal, plastic, glass, and others. Wood accounted for the major share of the global market owing to its thermal insulation properties, strong aesthetics, high strength, and high utility of wood. The plastic segment is predicted to observe augmented usage in light institutional and commercial applications and is expected to show a significant growth rate.
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The doors market is divided on the basis of mechanism into swing doors, sliding doors, folding doors, revolving doors, and others. Swing doors segment leads the global market due to the large adoption of hinged doors globally. Sliding doors are predicted to exhibit the highest CAGR due to a shift toward space efficient residential and commercial properties.
By region, the doors market is analyzed across North America (U.S., Canada, and Mexico), Europe (UK, Germany, France, and rest of Europe), Asia-Pacific (China, Japan, India, and rest of Asia-Pacific), and LAMEA (Latin America, Middle East, and Africa). Asia-Pacific accounted for nearly half of the global market share and is projected to grow at a CAGR of 5.9%. China, Japan, and India are the leading markets for doors in Asia-Pacific.
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The key players profiled in this report include agta record ltd., American Automatic Doors, Inc., ASSA ABLOY Group, dormakaba Holding AG, FAAC S.p.A. Soc. Unipersonale, GEZE GmbH, Gilgen Door Systems AG, Godrej Security Solutions, GRAUTHOFF Türgruppe GmbH, Griffon Corporation Inc., Gretsch--Unitas GmbH, Horton Automatics, Jansen Holding GmbH, JELD-WEN Holding, Inc., KONE Corporation, LABEL S.p.a., Lindner Group KG, MANUSA GEST, S.L, Nabtesco Corporation, neuform-Türwerk Hans Glock GmbH & Co.KG, Portalp, Royal Boon Edam International B.V., ReinaerdtTür GmbH, Sanwa Holdings Corporation, SchörghuberSpezialtüren KG, STANLEY Access Technologies LLC, and TORMAX.
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