Exterior Doors Market Report 2024 - Market Size, Growth Rate, Major Drivers And Key Trends

"The Business Research Company recently released a comprehensive report on the Global Exterior Doors Market Size and Trends Analysis with Forecast 2024-2033. This latest market research report offers a wealth of valuable insights and data, including global market size, regional shares, and competitor market share. Additionally, it covers current trends, future opportunities, and essential data for success in the industry.

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According to The Business Research Company's, The exterior doors market size has grown strongly in recent years. It will grow from $101.26 billion in 2023 to $108.5 billion in 2024 at a compound annual growth rate (CAGR) of 7.1%. The growth in the historic period can be attributed to expansion in the construction sector, increases in real estate investments, increasing awareness of environmental issues, rising architectural styles, and increasing residential and commercial buildings.

The exterior doors market size is expected to see strong growth in the next few years. It will grow to $143.72 billion in 2028 at a compound annual growth rate (CAGR) of 7.3%. The growth in the forecast period can be attributed to growing urban populations, rising disposable income, expansion in the commercial sector, increased emphasis on home security, rising tourism industry, and rising homeownership rates. Major trends in the forecast period include advancement in materials, innovations in manufacturing processes, adoption of smart home technologies, adoption of advanced manufacturing techniques, including 3D printing, and the integration of Internet of Things (IoT) technologies.

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Market Drivers and Trends:

The increasing renovation and refurbishment activities are expected to propel the growth of the exterior door market going forward. Renovation and refurbishment activities involve updating, repairing, or improving existing structures to enhance their functionality, appearance, or value. Renovation and refurbishment activities are increasing due to property value, economic incentives, and aging infrastructure. Exterior doors can improve a home's visual appeal and security by featuring innovative locking systems and reinforced materials. Renovations frequently require replacing these doors to meet current building laws and standards, ensuring safety and aesthetic benefits. For instance, in January 2023, according to the Harvard Joint Center for Housing Studies (JCHS), a US-based research center on housing-related issues, projects national spending for remodeling and repairs to owner-occupied homes will grow to $485 billion in 2023, an increase of 2.6% from last year. Therefore, increasing renovation and refurbishment activities are driving the exterior door market.

Major companies operating in the exterior door market are focused on developing advanced products, such as aluminum external bi-fold, French, and single-door systems, to enhance aesthetic appeal, improve energy efficiency, and increase durability. Aluminum external bi-fold doors fold inward to create a huge opening with a sleek, robust frame, while French doors have hinged panels with large glass panes for a classic look and provide a simple, space-saving access option with a single-hinged panel. For instance, in June 2024, Origin, a UK-based manufacturer of luxury aluminum doors and windows, launched contemporary external doors. The door has impressively short sightlines of just 36 mm, which improves its visual appeal and allows more natural light to enter. The glazing bars resemble traditional steel doors and provide improved thermal performance with U-values as low as 0.8 Wpm2. It is designed with superior weathertight seals to effectively protect against the elements, ensuring comfort in any weather situation. In addition, contemporary external doors have a unique 8-point locking mechanism and a 3-star diamond cylinder, which meet police-preferred security standards and provide strong protection against forced entrance.

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Major Key Players of the Market:

Assa Abloy Group, Stanley Black & Decker Inc., JELD-WEN Inc., VKR Holding A/S, dormakaba Holding AG, Masonite International Corporation, Andersen Corporation, Pella Corporation, Ply Gem Holdings Inc., Quanex Building Products, Therma-Tru Doors, Woodgrain Millwork Inc., Steves & Sons Inc., Glass Craft Door Company, Simpson Door Company, Kohltech Windows & Entrance Systems, Rocky Mountain Hardware Inc., LaCantina Doors, Trinity Glass International Inc., Taylor Entrance Systems, PlastPro Inc., HMI Doors

Exterior Doors Market 2024 Key Insights:

• The exterior doors market size is expected to see strong growth in the next few years. It will grow to $143.72 billion in 2028 at a compound annual growth rate (CAGR) of 7.3%.
• Increasing Renovation And Refurbishing Activities Propel Growth Of Exterior Doors Market
• Innovations In Contemporary Exterior Doors Enhance Aesthetics, Efficiency, And Security
• Asia-Pacific was the largest region in the exterior doors market in 2023

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