Asia Pacific Pocket Door Market is projected to experience over 5% revenue growth. The regional growth is mainly contributed by China, India, and South Korea owing to improving construction spending impacting pocket doors demand. Rapid economic developments in countries include Malaysia, Thailand, and Indonesia are pacing real estate projects.
Construction industry is witnessing healthy growth owing to enhanced repair and remodeling activities in several region stimulation pocket door market. Increased investments especially for enhancing interiors, aesthetics and space designs has positively impacted product landscape. Government initiatives for affordable housing schemes and financial supports from lowering interest rates are key factors stimulating pocket door industry growth.
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Rising consumer spending for new house construction and building renovation are propelling pocket door market share. Rapid urbanization in emerging countries including China, India and South Korea supporting improved infrastructure developments along with house building projects are fueling product demand. According to National Bureau of Statistics (NBS), Chinese investment in real estate development is witnessing year on year growth around 7%.
Single pocket door market is likely to witness over 5.5% CAGR up to 2024. Increasing product demand especially residential segment owing to minor space occupancy benefits boosting market share. Wide applications include toilets, washrooms, bedrooms along with commercial application such as warehouse, pantries, common rooms and storage rooms are major adoption areas. The large variety of materials includes aluminum, glass and steel are improving installations in commercial spaces and residential buildings escalating pocket door industry.
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Wood pocket door segment captured more than 45% market share in 2017. Excellent designing options, enhanced interior, and aesthetic appearance are the key factors driving pocket door market share. Residential segment has high adoption on wooden pocket doors owing to long life benefits, rustproof material, cracks & chip resistance properties are surging product penetration during forecast time.
Commercial and industrial segment is anticipated to observe more than 4.5% CAGR up to 2024. Rapid industrialization in several emerging countries risen requirement in manufacturing facilities, logistics sites, and storage rooms will propel revenue share. Steel door has huge application in production sites owing to the presence of large equipment and machinery. Commercial spaces are installing see-through structures for convenience and safety purpose excelling product demand.
Major companies in pocket door market are:
- Ferrero Legno
- FOA Porte
- Bertolotto Porte
- LPD doors
- Ghizzi & Benatti
- JB kind
Manufacturing companies are expected to adopt acquisition strategies to gain competitive advantages. These companies are also focusing on entering strategic collaboration and partnership with international interior and decor brands.
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