Doors Market is expected to grow over $140 billion by 2024, China to be emerge as prominent revenue pocket

Global Doors Market Report offers market size, share, overview, segmentation by types, application, countries, key manufactures, cost analysis, industrial chain, sourcing strategy, downstream buyers, marketing strategy analysis, distributors/traders, factors affecting market, forecast and other important information for key insight.

The APAC region has been proclaimed to emerge as one of hottest investment grounds for doors market players, which can be attributed to the thriving construction sector in the continent. As per statistics, the construction spending in APAC had been estimated to fall between USD 3 trillion to USD 4 trillion in 2016. In fact, APAC has been declared to be one of the most potential grounds for the growth of the construction sector, given the rapidly escalating populace and the subsequent demand for housing and infrastructure development. In effect, this has made APAC one of the most profitable avenues for doors industry expansion, subject to the robust demand for door components across the residential and commercial zones.

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In 2016 alone, APAC accounted for more than 40% of the overall doors industry share, with a revenue collection of close to USD 40 billion. This growth scale, as stated by analysts, can be rightly attributed to a plethora of factors, including changing consumer living standards, the subsequent demand for luxury homes, the rising tourism and hospitality sectors, and the overall significance of brand value. Pertaining to the demand for high-end luxury homes, increased requirement for energy-efficient architectural components, and the rapid rise in the construction of high-end hotels, spas, and resorts, APAC is expected to lead the business landscape over 2017-2024.

The extensive expansion rate of the global construction sector has rightfully been touted as one of key driving forces of doors market worldwide. The global construction expenditure was pegged at a valuation on the higher side of USD 5 trillion in 2016 alone, while analysts predict that it is expected to grow at a rather substantial rate in the ensuing years. Given the persistent rise in global populace, the consequent requirement for comfortable housing does not exactly come as a surprise. Not to mention, the demand for stylish door and window components in accordance with the high-end luxury lifestyles of the contemporary urbane crowds is further catalyzing the revenue graph of market. According to estimates, global doors industry size was worth a colossal USD 90 billion in 2016 itself.

China has been touted to emerge as one of the most profitable growth grounds for APAC doors market, on account of the robust construction and urban development domains in the country. The nation in fact, held a major share of the construction spending of the continent in 2016.  Validating this presumption is the target estimate compiled by Global Market Insights, Inc., which claims doors market size to be worth more than USD 140 billion by 2024.

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Companies partaking in doors market share have incessantly been on a roll since the last few years, to bring forth a rather unique, eco-friendly, and aesthetic brand portfolio that not only does justice to the product landscape of doors industry, but also bolsters the presence of these firms in this fraternity.

Pella, for example, one of the most renowned firms in doors market, adhering to the demands and suggestions put forward by their loyal client and consumer base, homeowners, architects, and designers, has recently come up with two new Architect Series lines – the Architect Series Contemporary and Architect Series Reserve. The latter has been designed to have a more traditional, authentic look to an office space or home.

Recently, Japan’s acclaimed Lixil Group announced the sale of Permasteelisa, its Italy-based construction material subsidiary to China’s Grandland Holdings Group. The Chinese architectural design and decoration behemoth has apparently purchased the Italian firm for USD 548 million (approximately EUR 467 million), which would prove to be a marked acquisition in China doors market. In addition, the country has been experiencing an influx of novel infrastructural designs, which is certain to chart out a profitable growth chart for the regional doors industry.

 

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