The doors market is estimated at USD 93.4 Billion in 2020 and is projected to reach USD 122.8 Billion by 2027, at a CAGR of 4.0 % from 2020. Increasing requirement for infrastructure across the world is likely to create industry demand in upcoming years. Major countries including, China, India, Indonesia, South Korea, and Thailand among others have focused upon commercialization, improving their infrastructural designs & government policies related to construction activities, which will further develop market in the forecast time period. Additionally, rising consumer spending in renovation of existing commercial & residential building will positively affect the product demand in the forecast time frame.
Doors have been widely popular as it is one of the most commonly used structures in construction. They control the atmosphere of a place by enclosing the air drafts as well as increasing the visual appeal of the architecture. Doors can be classified based on their mechanism such as high-speed doors, rotating doors and hinged doors. In addition, doors can be classified based on their functionality as safety door, trap door and blast proof doors. Raw materials such as plastic, metal and wood are used in manufacturing of doors.
The global market for doors has been significantly large as doors are implemented in every residential and non-residential structure. Plastic doors are expected to be the fastest growing segment in the door industry, where gains are largely driven by demands from China, India and Brazil. Plastic materials have mostly benefited from their reduced maintenance requirements, low cost and its insulating properties, which are expected to be a huge contributor in the growth of the market.
The market is strongly expected to grow due to the rising construction activities across the globe. In addition, the growing demand for doors for safety purposes such as fire and security, implemented in industries due to rising safety regulations is expected to drive the market. Growing commercial construction activities in developing regions such as India and China are expected to open the doors for the automatic door industry.
The doors market is dominated by key players such as Masco Corporation (US), Assa Abloy (Sweden), Allegion Plc (Ireland), Dorma Kaba (Switzerland), Masonite International Corporation (US), Ply Gem Holdings Inc. (US), PGT Inc. (US), Fancy Doors & Mouldings (US), Simpsons Door Company (US), and Jeld-Wen Inc. (US).
Asia Pacific represented the largest market in the door industry, followed by North America and Europe. Certain countries in Asia Pacific such as China, India and Indonesia are expected to gain a substantial amount of share in the market. Their low per capita income demand level is expected to give the potential for a strong market rise as income continues to grow in these countries.
Proliferating investment in new residential construction and rising requirement for modernising existing building are likely to be the key driving factors for the North America doors market in the coming years. In the U.S., the total construction expenditure including both private & public sector has reached to around USD 1.3 trillion in 2018, which will further grow at significant rate throughout the study period. Moreover, slack in the labour market, flat hourly wages, and household deleveraging are responsible for the development of residential construction in the U.S. Additionally, growing construction activities in commercial sector including hospitals & schools owing to favourable demographic trends and government policies will further pave way for the market in the projected time period.
Report : Doors Market - By Material (Wood, Metal, uPVC and Others), By Mechanism (Swinging, Sliding, Hinged And Others), By Application (Interior Doors And Exterior Doors) And By Region (North America, Asia Pacific, Europe, Middle East & Africa and Latin America) - Industry Analysis, opportunity and Forecast 2020 To 2027