Global Indian Doors Market to grow at 9.3% CAGR till 2024

Global Indian Doors Market size over USD 2.8 Billion by 2026 end and register a CAGR of over 9.3% from 2017 to 2024.

Rising disposable incomes of consumers along with growing construction & renovation industry is anticipated to fuel Indian doors market growth. Flourishing demand for energy competent and impact resilient housing infrastructure will propel industry towards more advanced product resources.

According to India Brand Equity Foundation (IBEF), national real estate industry is projected to exceed USD 180 billion by 2024. Furthermore, housing sector accounts for 6% of the country's GDP. Government initiatives across the countries for development of smart cities will support the Indian doors market penetration.

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Growing government finances for infrastructure growth, public funding, and a drop in the building material prices will enhance the product demand. Additionally, private and public partnerships ventures to support infrastructure expansion in rural areas are anticipated to encourage immense potential to the Indian doors market during the forecast timeframe.

Hinged door was valued more than USD 300 million in 2016. Rising demand for see-through structures including gates attached with windows will drive the product demand in commercial building segment. The product is most appropriate for residential applications owing to its lesser space consumption and easy fitting features. Thereby, boost the Indian doors market development.

Sliding door is anticipated to grow more than 10% by 2024 as it delivers benefit of less area occupancy for opening and closing functioning. Based on the application these are offered with advanced air tight and sound proof insulation.

uPVC is anticipated to grow at more than 8% over the forecast timespan. Increasing growth rate can be credited to provision of benefits including high insulation against noise, less maintenance requirement and resistance to climatic conditions. The product is also utilized as a replacement for counterparts including metals and wood owing to reduced maintenance & weight and easy recyclability propelling Indian doors market growth.

Residential application contributes over 60% of Indian doors market in 2016. Rising infrastructural expenditure is a crucial factor driving the industry expansion. Community development coupled with subsidies accessible for housing construction will further fuel the product demand. Household renovations have observed a strong surge in the past and are projected to continue during the forecast timeframe of 2017 to 2024.

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Maharashtra accounted more than 12% of Indian doors market in 2016. As per the 2011 national population and housing census, out of 3.36 crore registered houses, over 2.98 crores were in the Maharashtra. Furthermore, the state government delivered a draft notification in 2017, that will allow several developers to provide pay a premium or housing stock to the authorities for projects spread over 2,000 square meters.

Delhi will observe a substantial growth owing to rapid urbanization along with the spread of nuclear families that has formed a culture of shifting into apartments, driving the infrastructure industry of the union territory.

Duroplast, Welltech, D.S. India, Fenesta, DORMA, KONE and Century are among the major Indian doors market share players. Large presence of national, regional as well local manufacturers makes the industry immensely competitive.

Other prominent participants are Beautex, Sapa Building System, Reynaers Aluminum and Lumani Schuco. Mergers & acquisitions and new product launches are among key strategies taken up by these firms to enhance their Indian doors market foothold.

Related Reports:

Doors Market: https://www.prnewswire.com/news-releases/doors-market-demand-to-hit-us-165-billion-by-2026-global-market-insights-inc-300968739.html

Vacuum Pumps Market: https://www.prnewswire.com/news-releases/vacuum-pumps-market-to-hit-usd-7-bn-by-2026-global-market-insights-inc-300965958.html

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