Global Doors Market to Garner $182.07 Billion by 2026 at 5.1
Rapid urbanization & industrialization increase in consumer spending on home remodeling, and surge in residential & non-residential constructions have propelled the growth of the global doors market.
PORTLAND, Oregon, April 16, 2020 /PRNewswire/ -- Allied Market Research recently published a report, "Doors Market by Type (Interior Doors and Exterior Doors), Material (Metal, Wood, Glass, Plastic, and Others), Mechanism (Swing Doors, Sliding Doors, Folding Doors, Revolving Doors, and Others), and Application (Sound Insulation Doors, Fire Protection Doors, Moisture Resistant & Wet Room Doors, Smoke Protection Doors, Radiation Protection Doors, Burglary Protection Doors, and Others): Global Opportunity Analysis and Industry Forecast, 2019–2026". According to the report, the global doors market was pegged at $120.80 billion in 2018, and is projected to reach $182.07 billion by 2026, growing at a CAGR of 5.1% from 2019 to 2026.
Major drivers of the market growth
Rapid urbanization & industrialization, increase in consumer spending on home remodeling, and surge in residential & non-residential construction have boosted the growth of the global doors market. However, fluctuation raw materials prices and high initial costs and predictive maintenance for automatic doors hamper the market. On the contrary, technological advancement to ensure safety & security and government investments in the building infrastructure sector are expected to create lucrative opportunities for the market players in the coming years.
The wood segment dominated the market
The wood segment held the largest share in 2018, accounting for nearly two-fifths of the global doors market, as wooden frame serves as one of the preferred materials in the exterior door market. However, the glass segment is projected to register the highest CAGR of 5.9% during the forecast period, as glass doors provide an aesthetic appearance to the house and require less maintenance than other composite materials.
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The sliding doors segment to manifest the highest CAGR through 2026
The sliding doors segment is anticipated to portray the CAGR of 6.2% during the study period, as sliding doors enhance the aesthetic appeal and ensure an adequate flow of natural light inside the building. However, the swing doors segment held the largest share in 2018, contributing to more than two-fifths of the global doors market, as the swing doors are highly durable, easily accessible, and deliver better airflow and cross ventilation.
Asia-Pacific, followed by Europe and North America, held the lion's share
The global doors market across Asia-Pacific, followed by Europe and North America, held the largest share in 2018, accounting for nearly half of the market. Moreover, the region is expected to register the highest CAGR of 5.9% during the study period, owing to rapid urbanization. Also, the presence of a large population contributes toward the growth of the doors market in the Asia-Pacific region.
Major market players
The report includes an in-depth analysis of the major market players including agta record ltd., ASSA ABLOY Group, American Automatic Doors, Inc., FAAC S.p.A., Soc. Unipersonale, dormakaba Holding AG, Gilgen Door Systems AG, GEZE GmbH, GRAUTHOFF Türgruppe GmbH, Godrej Security Solutions, Gretsch--Unitas GmbH, Griffon Corporation Inc., Jansen Holding GmbH, Horton Automatics, KONE Corporation, JELD-WEN Holding, Inc., Lindner Group KG, LABEL S.p.a., Nabtesco Corporation, MANUSA GEST S.L, Portalp, neuform-Türwerk Hans Glock GmbH & Co.KG, ReinaerdtTür GmbH, Royal Boon Edam International B.V., SchörghuberSpezialtüren KG, Sanwa Holdings Corporation, TORMAX, and STANLEY Access Technologies LLC.
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