Exploring the Growth Trajectory of the Hollow Metal Doors Market: Opening New Dimensions

In a recent report released by Allied Market Research titled "Hollow Metal Doors Market," the global landscape of this industry is unveiled. The market, valued at $15.7 billion in 2021, is projected to surge to $26.1 billion by 2031, marking a noteworthy CAGR of 5.2% from 2022 to 2031.

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Driving Forces: The hollow metal doors market has experienced substantial growth over the past decade, fueled by the rise in industrialization in developing nations and an upswing in institutional building projects. Industry players are strategically expanding their businesses to solidify their global presence. Additionally, increased consumer spending on home remodeling activities is a key driver for market growth. The forecast period anticipates a higher CAGR for the "other" segment, driven by the growth of residential construction activities globally.

Diverse Door Types: Various types of hollow metal doors cater to distinct needs, including flush hollow metal doors, hollow metal doors with windows, paneled hollow metal doors, and more. The flush hollow metal doors segment, particularly prevalent in commercial and institutional buildings, dominated the market in 2021. These doors, known for their versatility, lack cut-outs except for locksets and hinges but can be prepped for additional hardware, glass kits, and louvers.

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Market Dynamics: The market's analysis spans different end-user segments, encompassing commercial and institutional buildings, industrial spaces, and others. Global economic growth and development in residential, commercial, and industrial sectors primarily propel market growth. Nevertheless, fluctuations in raw material prices pose a constraint on the hollow metal doors market's expansion.

Regional Dominance: In 2021, Asia-Pacific emerged as the global leader in the hollow metal doors market, securing the majority of the industry's revenue, followed by Europe and North America. The Asia-Pacific region is experiencing rapid growth, attributed to urbanization and industrial development in key countries such as China, India, and Japan. Favorable government policies globally, aimed at promoting industries and institutional buildings, contribute to the increasing demand for hollow metal doors.

End-User Segmentation: The commercial and institutional building segment captured the highest market share in 2021. This surge is attributed to the rise in commercial projects such as malls, hotels, resorts, and initiatives for smart cities. For example, the government of the UAE allocated a $2.7 billion tender for infrastructure projects in February 2020, covering industrial and commercial structures. Similarly, the collaboration between the South Korean government and the Inter-American Development Bank in October 2020, with an investment of around $1.3 billion in Latin American smart city projects, played a significant role.

Pandemic Impacts: The COVID-19 pandemic prompted temporary halts in business operations for various hollow metal door manufacturers, particularly in countries like China, the U.S., and India. This hiatus directly affected sales and supply chains. A shortage of manpower and raw materials further constrained the supply of hollow metal door systems, negatively impacting market growth. However, with the reopening of production facilities and the introduction of vaccines, a resurgence in the hollow metal doors market is anticipated.

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Key Findings of the Study:

The flush hollow metal doors segment dominated the market in 2021, with the paneled hollow metal doors segment projected to exhibit a significant CAGR during the forecast period.

The commercial and institutional building segment recorded the highest revenue in 2021 among end-user industries.

The new construction segment led in revenue among different application segments in 2021.

Asia-Pacific is projected to register the highest growth rate in the coming years.

The report profiles key players in the global hollow metal doors market, providing insights into their strategies and competitive outlook.

The report offers an analysis of current trends and emerging opportunities in the market.

In-depth global hollow metal doors market analysis is conducted by constructing estimations for key segments between 2022 and 2031.


https://www.alliedmarketresearch.com/hollow-metal-doors-market-A17056

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Allied Market Research (AMR) is a full-service market research and business-consulting wing of Allied Analytics LLP based in Delaware. Allied Market Research provides global enterprises as well as medium and small businesses with unmatched quality of "Market Research Reports" and "Business Intelligence Solutions." AMR has a targeted view to provide business insights and consulting to assist its clients to make strategic business decisions and achieve sustainable growth in their respective market domain.

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