Global Doors Market Set for Remarkable Growth, Projected to Reach $237 Billion by 2028, Driven by Urbanization and Construction Industry Expansion

The doors market has witnessed rapid growth, with the market size surging from $138.26 billion in 2023 to an estimated $154.53 billion in 2024, reflecting an impressive Compound Annual Growth Rate (CAGR) of 11.8%. Anticipated to maintain its momentum, the market is projected to reach $237 billion by 2028, sustaining a CAGR of 11.3%.

Key Growth Drivers:
1. Rapid Urbanization:
The global surge in urbanization is a key contributor to the doors market's robust growth. Urbanization involves the migration of populations from rural to urban settings, leading to increased population density in urban areas. This trend fuels demand for new residential and non-residential constructions, presenting significant opportunities for the expansion of the doors market. Projections from the United Nations indicate that by 2050, 68% of the world's population, equivalent to 2.5 billion people, will reside in urban areas. This rapid urbanization worldwide is a driving force for the doors market.

2. Construction Industry Growth:
The doors market is expected to experience substantial growth propelled by the expansion of the construction industry. The construction sector encompasses activities related to infrastructure development, renovation, repair, and maintenance. The increasing pace of industrialization and urbanization has led to a surge in construction activities, driving the demand for doors. Notably, investments in building construction in Canada increased from $14,294 million in April 2019 to $19,273 million in 2020. Similarly, the U.S. witnessed a 16% rise in total construction spending since the onset of the pandemic, according to the 2022 U.S. Construction Cost Trends report.

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Industry Leaders Shaping Growth:
Major companies playing a pivotal role in the dynamic growth of the doors market include Allegion PLC, Andersen Corporation, Assa Abloy AB, Jeld-Wen Inc., and Masco Corporation, among others. These industry leaders contribute to market expansion through innovation and meeting the escalating demand driven by urbanization and construction activities.

Technological Advancements Driving Market Dynamics:
1. Automatic Sliding Digital Display Doors:
Technological advancements stand out as a prominent trend in the doors market. Companies, such as Assa Abloy, are leveraging technology to develop innovative door solutions. An example is the collaboration between Assa Abloy and LG Electronics to create automatic sliding digital display doors. These doors integrate LG's organic light-emitting diode (OLED) display technology to showcase images and videos, showcasing the industry's commitment to technological progress.

2. Energy-Efficient Door Systems:
Leading companies in the doors market are introducing energy-efficient door systems to meet market demands. These systems aim to minimize heat loss or gain, enhancing insulation and sealing against environmental conditions. For instance, All Weather Inc. launched the Series 9200, a thermally broken bifold door system designed to provide superior energy efficiency, responding to the growing demand for high-performance aluminum folding doors.

Regional Dynamics and Market Segmentation:
Asia-Pacific emerged as the largest region in the doors market in 2023, with regions covered in the report including Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, and Africa.

The doors market covered in this report is segmented -
1) By Material: Wood, Glass, Metal, Composite, Plastic
2) By Mechanism: Swinging Doors, Sliding Doors, Folding Doors, Overhead Doors
3) By Application: Non-residential, Residential

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Doors Global Market Report 2024 from TBRC covers the following information:
• Market size date for the forecast period: Historical and Future
• Market analysis by region: Asia-Pacific, China, Western Europe, Eastern Europe, North America, USA, South America, Middle East and Africa.
• Market analysis by countries: Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA.

Trends, opportunities, strategies and so much more.
The Doors Global Market Report 2024 by The Business Research Company is the most comprehensive report that provides insights on doors market size, doors market drivers and trends, doors market major players, competitors' revenues, market positioning, and market growth across geographies. The doors market report helps you gain in-depth insights on opportunities and strategies. Companies can leverage the data in the report and tap into segments with the highest growth potential.

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