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Aluminum Doors And Windows Market Key Drivers, Size, Trends, Growth, Outlook 2024-2033
Aluminum Doors And Windows Market Key Drivers
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According to The Business Research Company's, The aluminum doors and windows market size has grown strongly in recent years. It will grow from $63.85 billion in 2023 to $68.24 billion in 2024 at a compound annual growth rate (CAGR) of 6.9%. The growth in the historic period can be attributed to growth in home remodeling sector, increased focus on sustainability, low cost of aluminum, and increased demand for eco-friendly furniture.
The aluminum doors and windows market size is expected to see strong growth in the next few years. It will grow to $86.38 billion in 2028 at a compound annual growth rate (CAGR) of 6.1%. The growth in the forecast period can be attributed to rising urbanization, growing investment in construction, and rising infrastructure investment. Major trends in the forecast period include focus on launching innovative products, investing in new products, launching new products ,and mergers and acquisitions to improve their product offerings and to stay competitive in the market.
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Market Drivers and Trends:
Growing construction projects are driving the growth of the aluminum doors and windows market. With the increasing number of construction projects, construction companies are adopting aluminum doors and windows for construction purposes that are strong, long-lasting, and cost-effective. Various initiatives such as the Housing for All by 2022 initiative, aim to promote affordable housing in India and also boost the construction activity and projects in the market. Under this scheme, developers and builders had access to cheaper funding in the form of debt that reduced the overall cost of homes making them attractive to first-time buyers, thus driving more construction activity and boosting the aluminum doors and windows market.
Product innovations are shaping the aluminum doors and windows market. Major companies operating in the aluminum doors and windows market are focused on new innovative products to strengthen their position. For instance, in 2021, UK-based residential aluminum windows and doors company, Garnalex launched its Sheerline Prestige range, a thermally efficient aluminum window, and door system with in-built weather sealing, that keeps draughts and rain safely outside. The system allows fabricators to use their existing PVC-U hardware to streamline manufacturing.
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Major Key Players of the Market:
Safran S.A., Thales Group, Raytheon Technologies, General Electric Company, BAE Systems, Honeywell International Inc, Moog Inc, Textron Inc, Eaton, EaglePicher Technologies, Ge India, Nabtesco Corporation, The Boeing Company, Airbus Se, Catl, Byd Auto, Electroflight, Transair Flight Equipment, Custom Cells Itzehoe Gmbh, Saft Company, Wamtechnik Sp. Z O.O., Zenith Aircraft Company, Beta Technologies, Heart Aerospace, Universal Hydrogen, Wright Electric, Magnix, Ampaire, Bye Aerospace, Embraer S.A, Desaer, Collins Aerospace, Azul Linhas Aéreas Brasileiras S/A, Zeroavia, Abu Dhabi Aviation, Agusta Westland, Africa Flight Services, Bosasa Group.
Aluminum Doors And Windows Market 2024 Key Insights:
• The aluminum doors and windows market size is expected to see strong growth in the next few years. It will grow to $86.38 billion in 2028 at a compound annual growth rate (CAGR) of 6.1%.
• Surging Construction Projects Fuel Growth In The Aluminum Doors And Windows Market
• Innovative Product Offerings Drive Evolution In The Aluminum Doors And Windows Market
• Asia-Pacific was the largest region in the aluminum doors and windows market in 2023
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