Global Market Insights has recently added a report on Doors Market which provides a succinct analysis of the market size, revenue forecast, and the regional landscape of this industry. The report also highlights the major challenges and current growth strategies adopted by the prominent companies that are a part of the dynamic competitive spectrum of this business sphere.
Requirement to build more housing units in urban and rural areas to accommodate ever increasing population will fuel the product demand. Global construction spending registered about USD 1.16 trillion in 2016, with growth over 4.5%. Commercialization, enhancing government finances and public funding in developing economies including Indonesia, India and Thailand will generate more opportunities for global doors market growth.
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Surge in consumer spending on new construction as well as renovation of current residential & commercial buildings will significantly propel the global doors market growth. Increasing demand for impact resistant & energy efficient housing infrastructure will boost product penetration.
High demand for sliding and hinged doors coupled with increasing urbanization will boost the doors market growth during the forecast period. Rapid economic expansion and growth in tourism sector has surge the building of supermarkets, cinema, sports, hotels, restaurants and recreational multiplexes improving the product demand. Growth in government funding for infrastructural ventures and a decline in the building material costs will foster the global industry development.
Legislative changes also have a significant impact on the industry growth over the forecast period. For instance, British Standards Institute provides certification services along with testing available for security, durability, and weather tightness. This offers the buildings with a proper standardized internal as well as external infrastructure and thus substantially drives the global doors market expansion.
Some of the other industry players include:
- Schuco International
- Lixil Group
- Jeld-Wen Holding
- Stanley Access Technologies
- Boon Edam
- Assa Abloy
- Entrematic Group
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Asia Pacific accounts for over 40% of the global doors market in 2016 and is projected to maintain its dominance over the forecast period. Increase in brand awareness and changing in consumer preference for high end goods are key factors driving the global market growth. Moreover, increasing regional economy along with increasing disposable income, directly results in rise in expenditure on overall luxury products including decor and bathroom fittings.
Global industry share is extremely fragmented due to large presence of industry players in regional as well as global level. Numerous companies are involved in partnership and collaboration to support their industry footprint. To capture a larger industry share, the companies are anticipated to develop their supply chain network to profit from being customer friendly. Fresh players entry will surge steadily due to high profit margins in the forecast timeframe.
Sliding doors will observe growth for more than 4.5% by 2024. Slimline design, easy installation, lightweight along with sound proof and air tight insulation are among the key features. These are used in residential construction as it generates the impression of huge space and permit better access to the garden or balcony that seems to enlarge the room space.
uPVC share accounted for over 30% of the overall revenue in 2016. This growth is attributed to the demand for energy efficient and light weight shapes that need less maintenance. uPVC offers enhanced standards of insulation against outdoor noises. Moreover, its total recyclable property would attract added attention for the global doors market in the forecast timeframe.