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Doors Market Report 2024 - Doors Market Size, Demand, Growth And Trends
Doors Market
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According to The Business Research Company's, The doors market size has grown rapidly in recent years. It will grow from $138.26 billion in 2023 to $154.53 billion in 2024 at a compound annual growth rate (CAGR) of 11.8%. The growth in the historic period can be attributed to construction and real estate growth, home renovation and remodeling, commercial building construction, security and safety concerns, and energy efficiency and sustainability.
The doors market size is expected to see rapid growth in the next few years. It will grow to $237 billion in 2028 at a compound annual growth rate (CAGR) of 11.3%. The growth in the forecast period can be attributed to aging population and universal design, increased security solutions, energy-efficient doors, commercial and industrial sector expansion, and emerging market growth
. Major trends in the forecast period include touchless and contactless entry solutions, smart and iot-enabled doors, technological advancements, strategic collaborations, use of innovative engineered wood.
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Market Drivers and Trends:
The rapid urbanisation all over the globe is significantly contributing to the growth of the doors market. Urbanisation refers to the population movement from rural to an urban setting and increasing human population densities in urban areas. Rising urbanisation is increasing the demand for new residential and non-residential buildings, which will further provide opportunities for the doors market expansion. For instance, according to the Department of Economic and Social Affairs, United Nations, 68% of the world's population, i.e. 2.5 billion people, are projected to live in urban areas by 2050. Therefore, rapid urbanisation all over the globe will drive the door market.
Technological advancements are a key trend gaining popularity in the doors market. Technological advancement is a discovery of knowledge that advances technology. Companies in the doors industry are developing new technologies for market growth. For instance, in April 2021, Assa Abloy, a Sweden-based company that offers products and services related to doors, is developing automatic sliding digital displays doors by combining LG Electronics' industry-leading organic light-emitting diode display technology. These doors will display images and videos using various technologies.
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Major Key Players of the Market:
Allegion plc, Andersen Corporation, Assa Abloy AB, Jeld-Wen Inc., KONE Corporation, Masco Corporation, Masonite International Corporation, Pella Corporation, PGT Innovations Inc., Simpson Door Company, American Automatic Doors Inc., Geze GmbH, Shakti Hormann Private Limited, Lixil Group Corporation, Ply Gem Holdings Inc., Fortune Brands Home & Security Inc., YKK AP Inc., Marvin Windows and Doors, Therma-Tru Doors, Clopay Building Products Company Inc., The Overhead Door Corporation, Wayne Dalton Corp., C.H.I. Overhead Doors Inc., Amarr Co. Inc., Raynor Manufacturing Company, Haas Door Company, Richards-Wilcox Inc., Midland Garage Door Mfg. Co., Northwest Door Inc., Windsor Door Siding and Windows, TruStile Doors LLC, Eggers Industries, VT Industries Inc., Algoma Hardwoods Inc., Graham Wood Doors, Karona Inc., Lynden Door Inc., Oshkosh Door Company, Rogue Valley Door Inc., Sierra Pacific Windows Inc.
Doors Market 2024 Key Insights:
• The doors market size is expected to see rapid growth in the next few years. It will grow to $237 billion in 2028 at a compound annual growth rate (CAGR) of 11.3%.
• Rapid Urbanization Drives The Doors Market
• Technological Advancements Transform The Door Market
• Asia-Pacific was the largest region in the Doors market in 2023
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