PDS’ recent strategic partnership with SALTO Systems demonstrates one of the many commendable growth strategies adopted by window and door market players to consolidate their footing in the competitive landscape. Performance Doorset Solutions, boasting a strong product portfolio in the UK windows and doors market, has reportedly teamed up with SALTO Systems to expand its doorset offerings. The Lancashire based organization, renowned for manufacturing timber and GRP doorsets and supplying the same to UK construction sector, through this deal is aiming to provide contractors high quality and high-security door package.
U.S. Windows and doors Market Size, By Material, 2012 – 2024 (USD Billion)
Citing another instance, Anderson Corporation, one of the largest window and door manufacturers of North America, has recently inked an acquisition deal with Canada based Fenêtres MQ Inc, to expand its product portfolio with upgraded manufacturing facilities of the latter. Fenêtres MQ is a leading name in luxury commercial and residential segment with regards to grand scale intricated historical renovations. Reportedly, through this deal, Anderson Corporation is planning to broaden its customer reach in Europe and North America. These aforementioned instances quite evidently depict the developments underlying windows and doors market with regards to its competitive landscape. Global Market Insights, Inc., forecasts the overall window and door industry to record a humungous valuation of USD 211 billion by 2024.
Being one of the most integral verticals of construction and architecture business sphere, window and door market is expected to record tremendous gains over the forthcoming years, subject to a plethora of factors- increasing household renovation activities, growing governmental initiations toward infrastructural spending, proliferating urbanization trends, particularly in emerging economies, and public funding. Social development along with various governmental subsidies available for residential construction has left a positive impact on window and door industry outlook. In this regard, governments of UK and Canada have implemented various stringent regulations to promote the deployment of energy efficient products, which has indeed played a pivotal role in augmenting window and door market trends.
In accordance with the growing inclination toward energy efficiency and sustainability trends, uPVC based windows and doors, of late, has been witnessing tremendous recognition across residential and commercial sector. UPVC window and door serve the dual purpose of energy efficiency and classic looks, which is why this particular material covered almost 33% of the overall windows and doors market share in 2016. The huge revenue coverage of this particular business sphere can be primarily credited to some of the exceptional beneficiary attributes of UPVC materials such as excellent thermal insulation, lesser maintenance requirement, lightweight, and recyclability.
The fact that UPVC possesses minimal contraction and expansion properties makes it an ideal choice to be used in door frames. In addition, the material’s excellent durability, glass holding capacity, and high resilience have further led to an increasing prominence of UPVC in window and door industry. In fact, UPVC material observes a mass popularity in APAC window and door industry, given the strong pipeline of infrastructural projects especially in countries like India and China. Growing acceptance of UPVC doors and windows along with rising disposable incomes of APAC population has much to contribute in the regional window and door industry share. Experts claim APAC window and door market size to surpass 6.9 billion square feet by the end of 2024. Another profound region where the growth prospect is slated to be positively high is North America. The continent, being home to several renowned players, would undeniably augment windows and doors industry share, which is estimated to register a CAGR of 4.7% over 2017-2024.
Window and door market players are increasingly experimenting with new product development to sustain their presence in the competitive landscape. For instance, JELD-WEN, the American giant has recently made it to the headlines with its recent announcement of substantially extending its product portfolio to patio doors and vinyl windows. Pella, another leading name in window and door industry, in the year 2015, launched its flagship Insynctive smart home technology, a groundbreaking product line of window and door designed on a plethora of factors like comfort, automation, and convenience. With definitive investments in construction arena along with increasing governmental regulations toward manufacturing eco-friendly fire-resistant doors and windows, windows and doors industry is all set to carve a lucrative growth path over the ensuing years. Global Market Insights, Inc. estimates the worldwide window and door market size to surpass 15 billion sq. feet by 2024.
Written By : Satarupa De