4 pivotal trends likely to fuel the growth of doors market size over 2019-2026
Publisher : Fractovia | Latest Update: 2020-01-02 | Published Date : 2017-10-16Request Sample
The profitability quotient of doors market is certain to escalate in the upcoming years, on account of the thriving construction activities across the globe. Extensively driven by a plethora of trends including the rising urbanization and increasing population alongside the building of residential and non-residential structures, doors industry is anticipated to widen its horizon during 2019-2026. As per a recent report put forth by Global Market Insights, Inc., the global doors market share is slated to record a massive remuneration of USD 165 billion by 2025.
Moreover, the robust presence of prominent industry players such as the Andersen Corp., Pella Corporation, YKK Corp., and several others has supported the expansion of doors market over the years. These industry conglomerates are vividly indulging themselves in acquisitions, mergers, and collaborations to maintain a strong foothold the market. In this regards, YKK Corp., one of the leading manufacturers of façade systems and residential doors reportedly announced taking hold of high performance facades solution provider, Erie Architectural Products Group to cater to the growing customer needs in the doors industry.
Although the industry is witnessing phenomenal growth over the years, the high prices of raw materials is considered to emerge as a potential threat for the market growth. However, the increased profitability and an upsurge in consumer demand for the construction products would open up new doors for the industry debutants over the forecast period. This step would significantly transform the market dynamics by 2026.
Mentioned below are the trends which are expected to produce huge profits to the global market over 2019-2026:
Ongoing construction developments in APAC
As is proclaimed, the growth in doors market size can be evidently credited to the proliferation of construction activities across the globe. In this context, Asia Pacific stands tall in the regional hierarchy whilst supporting humongous ongoing construction projects. Estimates claim that the region would hold nearly 40 per cent of the overall market share by 2026.
One of the profound factors that is leveraging unending benefits to the APAC market is the expanding urbanization and industrialization in tandem with rising government initiatives to develop the infrastructure across the region. As per reliable sources, the APAC region, by 2026, would foresee a rise of 50 per cent in the urbanization stats thereby offering tremendous opportunities for market expansion in the region over the mentioned timeline.
Surging residential construction across the globe
Elaborating further on the construction activities, the worldwide doors market is highly characterized by a vast application gamut amongst which the residential applications segment is estimated to perform exceptionally well in the upcoming years. This is ascribed to the increasing population across the world. In line with this, the support of government subsidies for the large scale development of residential construction segment would further spur the market growth.
Additionally, the growing building improvement and repair activities would significantly contribute towards the expediting product demand enabling the segment to amass hefty proceeds by 2026. On these grounds, the residential applications segment would be valued at USD 65 billion over the projected timeframe.
Increased adoption of sliding doors
The global doors industry is segmented into distinguished products namely hinged, sliding, and French. The sliding doors segment is likely to amass noticeable gains during the span of seven years perhaps attributing to their high end adoption across the globe. This large scale adoption is credited to the robust product features encompassing soundproof and airtight insulation parameter.
Also, these doors offer attractive aesthetics to the residential housing leading to the mounting use in new residential construction industry. Apparently, the sliding doors segment would procure a market share of 25 per cent through 2026.
Growing use of uPVC doors for robust features
The use of proper material in production of doors is of utmost importance. This calls for the expansive use of uPVC material which provides superior strength, cost effectiveness, and high versatility to the doors.
The uPVC doors are extensively used for constructing hinged, sliding, and French doors as per customer requirements. Variant colors, laminates, and patterns are lending huge support to the market dynamics prompting the segment to progress at a growth rate of 5.5 per cent through 2026.
