Mar 11, 2021   SOURCE: BusinessWire

The Worldwide Doors Industry is Projected to Grow to $118.2 Billion by 2025 at a CAGR of 4.8% from 2020 - ResearchAndMarkets.com

The "Doors Market by Material (Metal, Wood, Plastic, Glass, Composite), Mechanism (Swinging, Sliding, Folding, Overhead), Product Type (Interior, Exterior), Mode of Application (New Construction, Aftermarket), Application, and Region - Global Forecast to 2025" report has been added to ResearchAndMarkets.com's offering.

The global doors market size is projected to grow from USD 90.6 billion in 2020 to USD 118.2 billion by 2025, at a CAGR of 4.8% between 2020 and 2025.

The growing construction industry and changing interior decor preferences of customers are driving the market for doors. However, high investment & installation costs of eco-friendly doors are expected to restrain this market. Rapid urbanization in emerging economies is expected to offer significant growth opportunities to manufacturers of doors. The major challenge faced by players is fluctuating raw material prices and growing environmental concerns and implementation of standards indoor products.

In terms of value, the wood segment is projected to account for the largest share of the doors market, by material, during the forecast period

Wood is projected to be the largest material segment indoors market. Wooden doors are aesthetically appealing; however, they are less thermally efficient, expensive, absorb moisture and easily rot which leads to high maintenance costs.

Swinging doors is projected to register the highest CAGR during the forecast period

The swinging doors segment is the fastest-growing mechanism used for door systems and contributing the largest share to the global doors systems market. These are more cost-effective and require lesser maintenance as compared to folding, revolving, and sliding doors.

In terms of value, the Interior doors segment is projected to account for the largest share of the doors market, by product type, during the forecast period

Interior doors are the largest product type segment indoors market. These doors are lighter, thinner, and smaller in comparison to exterior doors. They are not soundproof or weatherproof as they do not include weather-stripping features. Changing lifestyles and growing expenditure on residential buildings drive the market for interior doors.

Residential doors are projected to register the highest CAGR during the forecast period

The residential segment is the fastest-growing product type in the doors market. This is attributed to the changing preferences and trends, which could require renovations and replacements. There is a rise in demand for green buildings, especially in the North American market as there are various regulations in place that make it obligatory to use sustainable and energy-efficient materials in both, commercial and residential buildings.

In terms of value, the new construction segment is projected to account for the largest share of the doors market, by mode of application, during the forecast period

Based on the mode of application, the doors market has been segmented into aftermarket and new construction. In 2019, the new construction segment dominated the doors market. This is attributed to the changing preferences and trends, which could require renovation and remodeling. The demand for doors is expected to be driven by factors such as reduced noise, better comfort, and greater aesthetic appeal.

The APAC region leads the doors market in terms of value

APAC is the fastest-growing region for the doors market. The growth in demand for doors in the region can be largely attributed to the growing infrastructure and building & construction industries. The demand for customized doors is growing rapidly in the region, owing to the high demand from the infrastructural sector for aesthetic appeal. As a result, the market has been positively impacted.

Market Dynamics

Drivers

  • Growth of the Construction Industry
  • Changing Interior Decor Preferences of Customers

Restraints

  • High Investment & Installation Costs of Eco-Friendly Doors

Opportunities

  • Increase in Demand for Replacement Doors from the Renovations Sector
  • Increase in Spending on Customization of Doors
  • Rapid Urbanization in Emerging Economies

Challenges

  • Fluctuating Raw Material Prices
  • Growing Environmental Concerns and Implementation of Standards in Door Products

Companies Mentioned

  • Allegion plc
  • Andersen Corporation
  • Arcat
  • Assa Abloy
  • Atrium
  • Boon Edam
  • Corinthian Doors
  • Cornerstone Building Brands
  • Dorma Kaba
  • Fancy Doors & Mouldings
  • Fenesta
  • Hormann
  • Jeld-Wen, Inc.
  • Lacantina Doors
  • Marvin
  • Masonite
  • Mi Windows and Doors, LLC
  • Novoferm GmbH
  • OCM Industrial Doors
  • Pella Corporation
  • PGT
  • Simpson Door Company
  • The Lyon & Billard Lumber Co.
  • Therma-Tru Corp.
  • Viwintech Window & Door Inc.

For more information about this report visit https://www.researchandmarkets.com/r/frqk7x